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The carbon quota allocation rules of China's pilot carbon emissions trading (CET) regions are various, which mainly include benchmarking, historical carbon intensity reduction and auctioning. When the allocation rules change, it is unresolved how to achieve the optimal product prices and effectively allocate the carbon emissions reduction profits of CET-covered enterprises in the cooperative supply chain. Thus, this paper uses the Stackelberg game, Nash equilibrium and the Shapley value based on cost modification to investigate these issues. The results indicate that: (1) The increasing carbon prices can always improve the retail prices only under the auctioning rule. Meanwhile, the growing low-carbon awareness of consumer cannot be always conducive to improving the wholesale and retail prices, and the similar product prices of non-CET-covered enterprises have greater impact on the wholesale prices than that on the retail prices. (2) Only under the free carbon quota allocation rules, can the optimal wholesale and retail prices under the Stackelberg game be always higher than those under the Nash equilibrium. Meanwhile, the auctioning rule can better reduce carbon emissions than the free allocation rules. (3) Improving carbon emissions reduction contribution and emission reduction costs can be conducive to increasing the carbon emission reduction profits of the supplier and retailer, while the impact of carbon emission reduction contribution on improving the carbon emission reduction profits is not always greater than that of the carbon emission reduction costs. [ABSTRACT FROM AUTHOR]

Carbon emissions from the refining industry are receiving increasing national attention. In view of long-term sustainable development, a carbon pricing mechanism oriented to carbon emission reduction needs to be developed. Currently, the two most common carbon pricing instruments are emission trading system and carbon tax. Therefore, it is important to study the carbon emission problems in the refining industry under emission trading system or carbon tax. Based on the current situation of China's refining industry, this paper constructs an evolutionary game model for backward and advanced refineries to explore which instrument is more effectively applied in the refining industry and identify the effective factors that can promote carbon emission reduction in refineries. According to the numerical results, if the heterogeneity of enterprises is small, the government's implementation of an emission trading system is the most effective measure, while carbon tax can only ensure that the equilibrium strategy solution is (1,1) when the tax rate is high. If the heterogeneity is large, the carbon tax policy will not have any effect, indicating that government implementation of an emission trading system is more effective than the carbon tax. In addition, there is a positive relationship between carbon price, carbon tax, and refineries' agreement to carbon emission reduction. Finally, consumers' preference for low-carbon products, R&D investment level, and R&D spillover effect have nothing to do with carbon emission reduction. Only by reducing refinery heterogeneity and improving the R&D efficiency of backward refineries can all enterprises agree to carbon emission reduction. [ABSTRACT FROM AUTHOR]

China's green credit has mostly been invested in new energy areas with positive environmental externalities in recent years, while coal power enterprises have been neglected. This paper constructs a tripartite evolutionary game model among government, coal power enterprises, and banks to clarify the key factors and mechanisms for coal power enterprises undergoing green transformation. The research results show that: Firstly, to realize the spontaneous green transformation of coal power enterprises, spontaneous profitability must be achieved before the removal of policy incentives, which is reflected in the continuous increase in electricity price, carbon emission trading price, and decrease in green transformation cost. Secondly, the green credit adjustment factor cannot determine whether a company chooses to undertake green transition, but it provides a valuable window of green transition for companies. When the relative benefits of green transformation projects are greater than the relative costs, coal power enterprises will undergo green transformation spontaneously. Thirdly, lower green credit interest rates are not better. An optimal green credit interest rate exists, that allows coal power enterprises to obtain the longest transition window in which to achieve spontaneous profitability for green transition projects. [ABSTRACT FROM AUTHOR]

Constructing and adopting a county-level panel dataset containing carbon emission (CO 2) and economic information between 2009 and 2017, this paper employs the continuous difference-in-differences (DID) model and is among the first to conduct an evaluation of the CO 2 reduction effect of China's emission trading scheme (ETS) pilot markets from the dual perspectives of price and scale. The empirical results emerge that the increase of transaction price and the expansion of transaction volume in ETS pilots have a persistent and significant influence on CO 2 reduction. Parallel to this, it is found the rising of transaction price in ETS can be effective on CO 2 reduction by improving the energy structure transition, however, optimization of industrial structure and the development of ICT might be the essential channels driven by the expansion of transaction volume. Last, this paper identifies the synergistic effect on different sorts of contaminants and find it is more substantial to those with the gas state. This paper implies that the policymakers should fully excavate the market-oriented environmental regulation tools from transaction price and volume perspective of views for the well achieving the climate ambitions of carbon peak and neutrality. • This article estimates the carbon emission reduction effect in of China's ETS pilots from the dual perspective of price and scale point of view. • The switch of China's carbon ETS regional pilots to national unified one can make the carbon emissions experience a wave of decline about 6.162%. • By estimating the possible synergistic effect on pollution of ETS market pilots, which find it is more significant to pollutants with gas phase. [ABSTRACT FROM AUTHOR]

This paper presents an energy-sharing market coupled with carbon emission trading to quantify peer-to-peer energy-sharing markets' economic and environmental influences. We establish a bi-level peer-to-peer energy sharing market considering the interaction between energy prosumers and the system operator. An interaction algorithm and generalized Nash game are thus applied in this work. With the simulation results, we find that the daily disutility of provincial systems is reduced by about 7 ¥ when time-of-use electricity rates are applied. This pricing strategy can encourage prosumers to participate in energy-sharing transactions. The subsidies of electricity rates, carbon prices, and renewable energy investments can improve the social welfare of the whole system. Considering the development of power generation technology and emission reduction targets, the change of optimization parameters in the next 30 years is analyzed in the example. It can be concluded that the total CO2 emission in 2050 will be reduced to almost half of that in 2020 in the energy-sharing markets. The subsidy of renewable energy generation and stricter CO2 emission constraints may accelerate the reduction of carbon emissions. [Display omitted] • It is the first time to assess the environmental effect of peer-to-peer energy trading with actual data. • We analyze the peer-to-peer energy trading impacts on the carbon emission amount in China. • We compare the market participants' revenue and CO2 emission considering the different scenarios. • We develop a bi-level coupled emission right trading market to verify whether total emission is reduced. • The development of technologies and various energy structures are considered quantitatively. [ABSTRACT FROM AUTHOR]

Carbon emissions in air travel have attracted widespread attention with the fast development of the aviation sector. Currently, biofuel usage has the potential to curb these emissions due to the bottleneck of other aircraft emission reduction technologies. This paper studies carbon tax policy-induced air travel carbon emission reduction and biofuel usage in China considering the interactive relationship between an authority and multiple airlines by a bi-level model and an interactive solution approach. Then a case study based on airlines from southern China's Sichuan Province is conducted to explore useful insights, with scenario analyses being performed. The computational results indicate that the policy could be useful for air travel carbon emission reduction and biofuel usage improvement in China. These results and analyses provide insights to the authority for the tradeoffs between policy equity and carbon emissions reduction effectiveness, and airlines for profitability. • Carbon tax policy-induced air travel carbon emission reduction in China is studied. • A bi-level model considering interaction of an authority and airlines is developed. • Trade-off between the effectiveness and equity of the carbon tax policy is analyzed. • A case study based on airlines in China is provided to explore useful insights. • The policy plays a vital role in carbon emission reduction and biofuel usage. [ABSTRACT FROM AUTHOR]