Search

Green and low carbon reflect the high-quality development, while income distribution is an indicator of the balance of development. Is there a lack of fairness in the process of green and low carbon transition of enterprises? Using data from A-share listed companies from 2009 to 2016, this paper constructs a DID identification framework for controlling the endogeneity problem using the 2013 carbon trading policy pilot as a quasi-natural experiment to empirically test the impact of corporate low-carbon transformation on corporate labor income share in the context of carbon trading policy. The findings indicate that carbon trading policy decreases the labor income share of firms. In addition, we demonstrate that the low-carbon transition promotes labor productivity, suggesting that the Porter's hypothesis is confirmed in China, but the increase in labor wages is not in tandem with productivity growth, resulting in reduced labor income share. Heterogeneity analysis shows that the impact of carbon trading policy on labor income share is mainly pronounced in larger firms, high technology firms and persistent incumbent firms. Collectively, these results are expected to accurately improve our understanding on the impact of low-carbon transformation of enterprises on income distribution and provide reference for the government to formulate industrial policies and distribution mechanisms under low-carbon economy. [ABSTRACT FROM AUTHOR]

Under the goal of " carbon peaking and carbon neutrality," how to create a low-carbon and green development path for cities is an urgent problem in China. One of the effective ways to solve this problem is through industrial collaborative agglomeration. In this paper, panel data of 276 prefecture-level cities in China from 2010 to 2020 was selected to investigate the relationship between the collaborative agglomeration of manufacturing and producer service and carbon emission intensity by using a fixed-effects model, intermediary model, and SDM in multiple dimensions. The study found that the collaborative agglomeration of manufacturing and producer service industries significantly influences carbon emission intensity with an inverted U-shaped curve, and the agglomeration of manufacturing and producer service industries can influence carbon emission intensity through technological progress. In addition, the inverted U-shaped impact of collaborative agglomeration of manufacturing and producer services on carbon emission intensity has a spatial spillover effect, and the spatial spillover effect generated is stronger than the impact on the local area. Moreover, from the perspective of industry heterogeneity, compared with low-end producer services, the agglomeration of manufacturing and high-end producer services can play a better role in carbon emission reduction. Regarding regional heterogeneity, compared with the central and western regions, the impact of manufacturing and production services agglomeration on carbon intensity is far more obvious in the more economically developed eastern regions. [ABSTRACT FROM AUTHOR]

The electric power sector is the primary contributor to carbon emissions in China. Considering the context of dual carbon goals, this paper examines carbon emissions within China's electricity sector. The research utilizes the LMDI approach for methodological rigor. The results show that the cumulative contribution of economies scale, power consumption factors and energy structure are 114.91%, 85.17% and 0.94%, which contribute to the increase of carbon emissions, the cumulative contribution of power generation efficiency and ratio of power dissipation to generation factor are -19.15% and -0.01%, which promotes the carbon reduction. The decomposition analysis highlights the significant influence of economic scale on carbon emissions in the electricity industry, among the seven factors investigated. Meanwhile, STIRPAT model, Logistic model and GM(1,1) model are used to predict carbon emissions, the average relative error between actual carbon emissions and the predicted values are 0.23%, 8.72% and 7.05%, which indicates that STIRPAT model is more suitable for medium- to long-term predictions. Based on these findings, the paper proposes practical suggestions to reduce carbon emissions and achieve the dual carbon goals of the power industry. [ABSTRACT FROM AUTHOR]

Coordinating policies is an essential guarantee for carbon emission reduction and sustainable development. Based on the theoretical framework of the policy paradigm, we quantitatively analyze 266 policy documents on promoting carbon emission trading and green financial policies from 2011 to 2022 using the content analysis research method. Based on the matching network of "policy objectives-policy tools," we analyze the synergistic characteristics of carbon emission trading policies and green financial policies in promoting carbon emission reduction targets and reveal the matching mode of "objectives-tools" of green financial policies by using social network analysis. It is found that, first, from the perspective of policy objectives, the main policy objectives of carbon emissions trading are to promote green innovation of enterprises, and the main policy objectives of green finance are to promote green development, which reflects the consistency and endogenous motivation of policy objectives. Secondly, command-control and market incentive policy tools are the main policy tools in the structure of policy tools. The proportion of public participation policy tools is small, and there is a structural asymmetry. Third, carbon emissions trading tools focus on supervision, adjustment, and platform construction. The green financial policy tools have the characteristics of guidance, public welfare, and externality. The two constitute a complementary, embedded, and integrated ' double synergy ' carbon emission reduction policy. Based on this, this paper puts forward some suggestions to promote policy coordination and provides a reference for China to achieve the dual carbon goal. [ABSTRACT FROM AUTHOR]

Electric power is the basic industry of a modern country. The rapid development of the power industry has promoted economic development and social progress. With the establishment of the carbon neutrality target of carbon peak, China's power industry is also facing new situations and new challenges. This paper innovatively introduces the concept of allometric growth in biology, and uses the data of provincial electricity consumption and economic development from 1972 to 2017, to study the allometric growth relationship between electricity consumption and economics in China at multiple scales. Combined with the spatial autocorrelation analysis method, the temporal and spatial characteristics of allometric growth between electricity consumption and economic development were researched based on the analysis of spatial correlation of GDP electricity consumption intensity. The results show that: (1) The provincial GDP electricity consumption intensity shows an aggregate distribution, and the local aggregate pattern changed significantly from 1972 to 2017. (2) The High-High Cluster gradually disappeared, and the Low-Low Cluster moved southward, appearing in the middle and lower reaches of the Yangtze River. (3) The differential growth coefficient of electricity consumption and economic development increased initially and decreased from 1972 to 2017. (4) GDP would increase by 7.4%, 20.1%, and 15.6% in the simulation of electricity consumption, increasing 10% at the three stages of China's economic development. (5) The allometric growth coefficients of electricity consumption and economic development are very different in the three economic belts, eight economic zones, and provinces with different characteristics at the different stages of economic development. Formulating differentiated regulation policies for regional economic development and electricity consumption will be conducive to the coordinated development of electric power production and the national economy. [ABSTRACT FROM AUTHOR]

Carbon price prediction is of great importance to regulators and participants in the carbon trading market. It is the basis for developing policies related to the carbon trading market and stabilizing that market. Considering the numerous factors that influence carbon prices in China, dimensionality reduction is needed to improve the prediction accuracy and efficiency. However, the traditional dimensionality reduction methods fail to fully consider the role of influencing factors, which has certain limitations. In this paper, a new dimensionality reduction method, namely scaled principal component analysis (s-PCA), is employed to improve the prediction accuracy of carbon prices. Firstly, a factor library that influence carbon prices is constructed from three perspectives: technical indicators, financial indicators and commodities indicators. Then, the s-PCA method is used to reduce the dimensionality of factors influencing carbon price. Next, two different methods are used to predict carbon prices, including traditional regression method and Long Short-Term Memory (LSTM) method. Finally, the economic value of the s-PCA method is examined by constructing investment portfolios. The empirical results of the Hubei Emissions Exchange show that the s-PCA model outperforms other competing models both in- and out-of-sample. In addition, the LSTM model could improve the performance of the s-PCA model in carbon price prediction. From a market timing perspective, investors can achieve a greater return and a larger Sharpe ratio using the s-PCA method than using other comparative methods and buy-and-hold strategy. Therefore, the s-PCA method is effective and robust in predicting carbon price. [ABSTRACT FROM AUTHOR]

China is transitioning into the digital economy era. The advancement of the digital economy could offer a fresh mechanism to attain carbon peak and carbon neutrality objectives. Applications of the digital economy, such as smart energy management, intelligent transport systems, and digital agricultural technologies, have significantly reduced carbon emissions by optimizing resource use, reducing energy waste, and improving production efficiency. This research does so by devising a theoretical model that looks into the multi-faceted power of the digital economy under a two-sector paradigm. Utilising a panel model, a mediation effect model and a spatial Durbin model to assess the digital economy's power on carbon emissions. This research has determined that the digital economy can significantly diminish carbon emissions, with green tech innovations and industrial transformation being key contributors. The spatial spillover effect was used for the digital economy to aid in lowering carbon emissions in adjacent districts and upgrading better environmental stewardship. The influence of the digital economy has better performance in lowering carbon emissions in mid-western China than in the eastern area. This paper deepens understanding of the drivers of low-carbon growth and the significance, mechanism and regional disparities of the digital economy's effect on reducing carbon emissions. It offers valuable policy insights and guidance for globally achieving digital economy growth, reducing carbon emissions and reaching carbon peak and neutrality goals. [ABSTRACT FROM AUTHOR]

Identifying the relationship between carbon neutrality initiatives and its economic impact is crucial in evaluating the cost of low-carbon transition for policy makers. In this paper, a theoretical model is built to discuss the effects of the low-carbon pilot policy in China on urban economic resilience and an empirical test is conducted to examine the relationship using the Heckman two stage model and a panel data of 277 cities from 2004 to 2020. The results show that low-carbon pilot policy significantly enhanced urban economic resilience and the stimulating effect is mainly achieved by motivating technology innovations. In addition, further analysis indicates that low-carbon pilot policy has a more pronounced effect on improving urban economic resilience of cities in the central and western regions than eastern regions. The effect is also more prominent in non-first-tier cities than first-tier cities. The results are robust to placebo test, the Propensity Score Matching Difference-in-Difference test and the test for alternative measure of urban economic resilience. The findings show that the low-carbon pilot policy is consistent with the goal of improving urban economic resilience and technology innovation is the essential pillar of sustainable development. [ABSTRACT FROM AUTHOR]

Low-carbon pilot policies are an important way to achieve the goal of "peak carbon neutrality" and are of great significance to China's international commitments. Based on a sample of 282 prefecture-level cities from 2006 to 2020, this paper investigates the impact of low-carbon pilot policies on urban carbon efficiency using a quasi-natural experiment with three batches of low-carbon pilot cities in 2010, 2012, and 2017, respectively. It is found that: (1) low-carbon pilot cities can improve urban carbon emission efficiency, which is still valid after a series of robustness tests such as the parallel trend test, placebo test, PSM-DID, and counterfactual test; (2) low-carbon pilot cities can enhance urban carbon emission efficiency by promoting the level of urban innovation and advanced urban industrial structure; and (3) the impact of low-carbon pilot policies on urban carbon emission efficiency is heterogeneous across cities with different geographical locations, population sizes, and resource endowment types. The findings provide policy insights for the promotion of low-carbon pilot policies and strengthening the construction of low-carbon pilot cities. [ABSTRACT FROM AUTHOR]

The development of globalization has separated the production and consumption of products spatially, and the international trade of products has become a carrier of embodied carbon trade. This paper adopted the perspective of value-added trade to calculate the amount of embodied carbon trade of China from 2006 to 2015 and perform a structural decomposition analysis of the changes in China's embodied carbon trade. This study found that: (1) China's embodied carbon exports are much larger than its embodied carbon imports, and there are differences between countries. China imported the largest amount of embodied carbon from South Korea, and it exported the largest amount of embodied carbon to the United States. (2) The structural decomposition analysis shows that changes in the value-added carbon emission coefficient during the study period would have caused China's embodied carbon trade to decrease, and changes in value-added trade would have caused China's embodied carbon trade to increase. Therefore, countries trading with China need to strengthen their cooperation with China in energy conservation, emission reduction, and product trade. In order to accurately reflect China's embodied carbon trade, it is necessary to calculate embodied carbon trade from the perspective of value-added trade. [ABSTRACT FROM AUTHOR]

In the context of China's commitment to peak carbon emissions by 2030 and achieve carbon neutrality by 2060, as well as its strategy to build a strong transportation country, it is of foremost importance to study the carbon emission reduction effect of the opening of high-speed rail (HSR). This paper innovatively introduces the frequency of HSR stops as an indicator of HSR operation, and uses a time-varying difference-in-difference (DID) model, a mediating effect model and a spatial DID model to assess the direct and indirect impact, transmission mechanism, and spatial spillover effects of the opening and operation of HSR on carbon emission reduction based on a panel of 279 prefecture-level cities from 2003 to 2017. We found that the opening and operation of HSR significantly reduced urban carbon emissions. The direct transmission mechanism analysis shows that the opening of HSR can reduce carbon emissions by replacing highway passenger traffic. Indirect mechanism analysis shows that the opening of HSR can reduce carbon emissions through technological effect, structural effect and opening effect. The test of spatial spillover effect shows that the opening of HSR can promote carbon emission reduction not only in node cities, but also in neighboring cities. [ABSTRACT FROM AUTHOR]

As the world's largest emitter of carbon, China has implemented a series of environmental regulatory policies to reduce emissions. However, most of these environmental regulations have been at the expense of increased corporate environmental costs. Therefore, research on how to efficiently control these costs is of significant practical importance. This paper uses the China's carbon trading policy (CTP) implemented in 2013 as a quasi-natural experiment, utilizing data from Chinese listed manufacturing firms between 2008 and 2020. Employing a difference-in-differences (DID) model, the study investigates the impact of market-incentive environmental regulatory policies (ERP) on environmental costs. The findings reveal that CTP significantly reduced the environmental costs of firms, confirming the positive and vital role market-incentive ERP can play in environmental protection and cost control. These conclusions remain robust after a series of stability tests. Mechanism analysis suggests that the cost reductions brought by market-incentive ERP are primarily achieved through increasing green innovation. Heterogeneity analysis shows that non-state-owned enterprises (non-SOEs), key polluting firms, firms with lower financial constraints, and firms with lower total production efficiency benefit more from market-incentive environmental regulatory policies. This study provides new empirical evidence for government policy-making aimed at achieving long-term sustainable development. [ABSTRACT FROM AUTHOR]

Sustainable development is the theme of world economic development in the 21st century. As a key part of sustainable development, sustainable land use (SLU) encompasses economic development and environmentally friendly and social progress. In recent decades, China has formulated many environmental regulatory policies to achieve sustainable development and "carbon peaking and carbon neutrality (double-carbon)" goals, among which the carbon emission trading scheme (CETS) is the most representative and provides valuable research. In this paper, we aimed to reflect the spatio-temporal evolution of SLU in China under the influence of environmental regulatory policies through an indicator measurement strategy based on the DID estimation method. The study conclusions are as follows: (1) The CETS can effectively improve SLU from the perspectives of economic development and environmentally friendly progress, and the impact has primarily been in the pilot areas. And, its effectiveness is closely linked to local locational factors. (2) With respect to the dimension of economic development, the CETS has not changed the provincial distribution patterns of SLU; rather, it continues to remain "high to low, east to west". However, regarding the environmentally friendly progress dimension, the CETS has significantly changed the provincial distribution patterns of SLU, which are characterized by spatial agglomeration with urban agglomerations such as the Pearl River Delta (PRD) and the Yangtze River Delta (YRD) as the core. (3) The screening results of the SLU indicators based on economic development showed that the CETS primarily improved the innovation capacities of pilot regions, and the impacts on economic levels were relatively small. Similarly, the screening results of the SLU indicators based on environmentally friendly progress showed that the CETS had primarily acted on reducing pollution emission intensity and strengthening greening construction, revealing only short-term effects on improving energy use efficiency. Based on the above, this paper explored the meaning and role of the CETS in more detail, with a view to providing insight into the implementation and formulation of environmental regulation policies. [ABSTRACT FROM AUTHOR]

Based on the panel data of 30 provinces in China from 2010 to 2019, this paper measured the coupling coordination development of energy-economy-carbon emissions and investigated its regional differences and spatial convergence. The research methods in this paper include entropy weight technique method for order preference by similarity to an ideal solution, coupling coordination degree model, Dagum Gini coefficient and decomposition method, Moran's I index, σ convergence model and β convergence model. The study found that the coupling coordination degree of energy-economy-carbon emissions in China has been continuously improved and has obvious regional and stage characteristics, but it is still on the verge of imminent disorder; the overall difference in the coupling coordination degree of energy-economy-carbon emissions shows a decreasing and then increasing trend, the main source of which is inter-regional differences; the coupling coordination degree of energy-economy-carbon emissions has a positive spatial correlation; except for the Southern Coastal Economic Zone and the Middle Yangtze River Economic Zone, there is no significant σ-convergence and β-convergence in the coupling coordination degree of energy-economy-carbon emissions system in other economic zones; the coupling coordination degree of energy-economy-carbon emissions changes fastest in the Middle Yangtze River Economic Zone. The innovation of this paper is to measure the coupling coordination degree of energy-economy-carbon emissions and to analyse its regional differences and spatial effects. It is of great practical significance to promote the coupling coordination development and regional balanced development of energy-economy-carbon emissions in China under the background of "dual carbon". [ABSTRACT FROM AUTHOR]

Since 2020, China has been dedicated to the goal of "carbon peak and carbon neutrality" in the international community, demonstrating its commitment to energy conservation and emissions control. In 2021, in response to the guidance of the State Council, all provinces in China included the creation of a low-carbon economic system as one of their key development goals. This paper aims at investigating the low-carbon economic development efficiency and the redundancy of inefficient areas of Guangdong Province by using the three-stage DEA-Malmquist index model. Panel data of 21 cities from 2011 to 2020 in Guangdong Province were selected. Results revealed that the low-carbon economic development efficiency in the whole province rises, but the growth rate has slowed down in the past three years. Pearl River Delta area is better-developed in low-carbon economy than others. It is recommended to improve the efficiency of scale, make use of environmental advantages and develop energy-saving and emission reduction technologies. [ABSTRACT FROM AUTHOR]

The Yellow River Basin (YRB) is China's substantial energy consumption base. The issue of carbon emission efficiency directly affects the ecological protection and high-quality development of the YRB. It is the key to achieving carbon peak in 2030 and carbon neutralization in 2060 ("30.60") double carbon emission reduction targets. Therefore, taking YRB as the research object, this paper first calculates the carbon emission and the decoupling state in the YRB. Secondly, the super-efficiency slacks-based measurement (SE-SBM) model is combined with the Malmquist index to analyze the temporal and spatial evolution characteristics of YRB's carbon emission efficiency from static and dynamic perspectives. Thirdly, the dynamic evolution characteristics of carbon emission efficiency are analyzed with the help of the Kernel density function. Finally, the Tobit model analyzes the influencing factors of YRB's and China's carbon emission efficiency. The results show that: (1) Among the nine provinces of YRB, the decoupling state between carbon emissions and economic growth in most provinces changes from weak decoupling to strong decoupling, and the decoupling elasticity index shows a fluctuating downward trend. (2) There are significant differences in carbon emission efficiency among provinces, but on the whole, it shows a stable growth trend. The high-value area of carbon emission efficiency is increasing, and the phenomenon of two-level differentiation is improving. The decline of the technological progress index causes the Malmquist index in Qinghai and Ningxia. On the contrary, the rise of the Malmquist index in the other seven provinces is caused by improving the technical efficiency index. (3) Industrial structure, economic development, and industrialization are the main positive factors affecting YRB's carbon emission efficiency. Urbanization level, green development level, and energy consumption level are the leading negative indicators hindering YRB's improvement of carbon emission efficiency. Therefore, targeted emission reduction suggestions should be formulated according to YRB's resource endowment and development stage characteristics. [ABSTRACT FROM AUTHOR]

Driven by the goal of achieving sustainable development and carbon neutrality. Addressing environmental pollution and remediating land damage have become critical challenges in resource-based cities and regions with low land use efficiency. As a response, this study focuses on the 23 provinces where China's coal resource-based cities are situated. Utilizing data from 2014 to 2020, this research employs the SBM-Undesirable model, which considers undesirable outputs in efficiency calculations, and the Tobit regression test. It aims to explore the spatio-temporal variations in industrial transformation within resource-based cities and its impact on the efficiency of green space utilization. Furthermore, it analyzes the characteristics and the extent of the influence of factors such as industrial structure adjustments on urban land use efficiency, maximizing the output of land as a factor of production. The results show that: (1) Over the 7-year period studied, China consistently made nationwide adjustments to land area and land use structure to meet the needs of urban development (2) The regression test results show that the industrial transformation of resource-based cities can promote the improvement of green space utilization efficiency. The positive influence coefficient is 0.064 and is significant at a 1% level. (3) Environmental regulation, government expenditure, international trade, and green cover play a positive role in promoting green land use. The study provides valuable insights for policymakers and urban planners seeking to foster sustainable development in resource-based cities. [ABSTRACT FROM AUTHOR]

China has set a goal to achieve peak CO2 emissions before 2030 and carbon neutrality by 2060. To achieve the goals of carbon peak and carbon neutrality, China needs to address the challenge of the large and still growing CO2 emission base. This paper investigated the energy consumption and CO2 emission in Beijing from 2020–2035 based on the energy elasticity coefficient and contribution value of the sub-energy increment (CVSI) method. Beijing is one of the first cities in China to propose the "carbon peak" target as of 2020. From 2020 Beijing will strive to achieve the goal of carbon neutrality. The results show that in 2035 the CO2 emission in Beijing may drop to 50% of 2020. This decline would be affected by economic growth, energy efficiency and the proportion of renewable energy use. Beijing's energy supply mainly comes from outside the region. Therefore, for Beijing, in addition to increasing the proportion of renewable energy sources outside the region, its own energy acceptance also needs to be strengthened, including strengthening energy storage construction, actively researching and promoting carbon capture and utilization of gas-fired units, which are effective ways to achieve carbon neutrality target. [ABSTRACT FROM AUTHOR]

China's announcement of its goal of carbon neutrality has increased the practical significance of research on carbon dioxide (CO2) emissions that result from urbanization. With a comprehensive consideration of population migration in China, this study examines the impact of urbanization on CO2 emissions based on provincial panel data from 2000 to 2012. Two indicators (resident population and household registration population) are used to measure urbanization rate. The results reveal that the impact of urbanization on CO2 emissions in China is closely correlated with the structure of urban resident population and interregional population migration. The estimation results are still robust by using generalized method of moments (GMM) estimator and two-stage least squares (2SLS) estimator. The proportion of temporary residents is introduced as a proxy variable for population migration. The panel threshold model regression results show that the proportion of temporary residents has a marginal effect on the relationship between urbanization and CO2 emissions. In regions with a higher proportion of temporary residents, the positive effects of resident population urbanization on CO2 emissions tend to be weaker. These findings are consistent with the theories of ecological modernization and urban environmental transition. This paper makes suggestions on China's urbanization development model and countermeasures are proposed to minimize the CO2 emissions caused by urbanization. [ABSTRACT FROM AUTHOR]

Emission trading scheme (ETS), the most popular market-based instrument, is widely used to solve carbon emission problems in the world. With the development of carbon market, carbon asset has been a popular financial product to invest and the risk management becomes important for government, regulated enterprises and other investors. As carbon prices have tail characteristics, this paper explores the extremal risks between carbon markets in US, Europe and China using tail dependence correlation coefficients. The empirical analysis demonstrates the tail dependence structure between carbon markets in US. and Europe is the same sign, which indicates that it is unwise to hold these two carbon assets as a portfolio. Moreover, the co-movements between European Union Emission Trade Scheme (EU ETS) and China's carbon markets are partly significant, and the operation mechanisms in China should be improved. In addition, the tail dependence test among the carbon pilots in China shows diversity. Hubei carbon trading pilot, located in central China, has extremal dependence with all other selected pilots for its regulatory program operation. The findings give insight to the carbon market regulars to improve the operation mechanism and are also useful for the investors to manage their portfolios, policymakers to make practically applicable regulations, and relevant organizations to develop procedures. [ABSTRACT FROM AUTHOR]

Digital transformation, as a significant shift in optimizing enterprise resource allocation and enhancing information connectivity, offers the opportunity to stimulate the endogenous dynamics of corporate green governance. Employing a sample of 3,002 listed companies in China, a fixed-effects model, and the entropy power method to formulate a green governance index system, this study examines how digital transformation affects corporate green governance concerning carbon peaking and carbon neutrality objectives. According to these findings, the implementation of the digital transformation improves corporate green governance, each unit increase in digital transformation correlates with a 1.91% enhancement in green governance. Moreover, an examination of the mechanisms shows that green governance can be promoted by addressing information asymmetry and enhancing operational efficiency. Additionally, the association between corporate green governance and digital transformation is moderated favorably by strategic aggressiveness. Furthermore, our results indicate that digital transformation contributes significantly to the advancement of green governance within enterprises located in areas with high digital financing and strong technology integration capacities. Digitalization has a stronger effect on promoting green governance for enterprises in pilot regions than in non-pilot regions in terms of carbon emission trading. This study not only assists enterprises in elucidating the developmental trajectory of digital transformation amid carbon peaking and carbon neutrality goals but also provides a reference for decision-making on how digital technology can empower corporate green governance and promote sustainable economic growth. [ABSTRACT FROM AUTHOR]

To bolster the dual-circulation development model and green economy, this study delves into the spatiotemporal dynamics of implied carbon transfer in China's inter-provincial and inter-industrial trade, emphasizing its significance for the "dual carbon" objectives. Utilizing multi-regional input-output data from 2012, 2015, and 2017, we employed the multi-region input-output model to gauge embodied carbon transfers across 31 provinces and 28 industries. The Structural Decomposition Analysis (SDA) model further decomposed the growth of trade-related carbon emissions. Key findings include: (1) The electricity and thermal power sectors dominate carbon transfers, with secondary industries seeing rapid growth; (2) Northern provinces significantly outweigh southern ones in carbon transfers and the main direction of it is towards affluent southern coastal regions; (3) Scale effect plays a pivotal role in these transfers. Conclusively, it is crucial for regulatory authorities to rationally formulate region-specific emission policies for inter-regional coordination, and future studies can focus on industrial and spatial clustering effects. [ABSTRACT FROM AUTHOR]

Carbon emissions trading policies play a crucial role in facilitating the transition to high-end products within high-carbon enterprises. Nevertheless, current empirical analyses of the carbon emissions trading market exhibit a lack of precision and are susceptible to bias in their findings. Limited research has been conducted on the influence of product quality as a potential constraint on the impact of carbon trading on product bargaining power. This study presents a double-difference model utilizing data on emission-control enterprises in China's carbon market to examine the influence of the carbon emissions trading mechanism on the bargaining power of high-carbon products. Empirical analysis is conducted using financial data from listed companies in China spanning the years 2010 to 2020. The findings indicate that the implementation of carbon emissions trading policies has a dampening impact on the product bargaining power of high-carbon enterprises. Moreover, carbon emissions trading policies have heterogeneous effects on the product bargaining power of high-carbon firms with different life cycles, with mature high-carbon firms receiving a boost and declining high-carbon firms receiving a dampening effect. Mechanism test finds that the incomplete transmission effect of cost shocks resulting from carbon emissions trading policies has negatively affect the product bargaining power of high-carbon enterprises. Further research finds that product quality is a key factor in determining the effect of the carbon emissions trading policy, and that the impact of the carbon emissions trading policy on the bargaining power of products of high-carbon firms takes on a "U" shape due to product quality. Once the product quality exceeds the bottleneck value of 0.5956, the policy significantly increases the bargaining power of products. The study confirms that the establishment of carbon markets can effectively increase the bargaining power of superior products. These results offer a comprehensive theoretical and practical foundation for nations to advance the development of carbon markets and facilitate the achievement of sustainable development by high-carbon enterprises. [ABSTRACT FROM AUTHOR]

In the context of the continued advancement of the green economy transition, the proactive pursuit of carbon emissions reduction and the early attainment of carbon neutrality goals have emerged as essential components in promoting high-quality economic development. Not only does it contribute to the creation of a community of human destiny, but it is also vital to the realization of sustainable development for human civilization. A dynamic evolutionary game model, which encompasses the interactions among government, enterprises, and the public, was constructed to examine the inherent impact mechanisms of the behavior of three players on the development of a green economy under the context of energy saving and emission reduction subsidies. The results showed that the incentive and punishment mechanisms served as effective tools for harmonizing the interests of system members. Within the mechanisms, the public demonstrated a higher sensitivity to rewards, while enterprises exhibited greater responsiveness to fines. Consequently, the government could influence the behavior of enterprises by incentivizing the public to serve as a third-party inquiry and oversight body. Simultaneously, the government could encourage enterprises to expedite green technology innovation by employing a combination of incentive and punishment mechanisms. [ABSTRACT FROM AUTHOR]

China has the world's largest carbon market in terms of greenhouse gas emissions, but its system needs to be improved and enhanced. In comparison, the European carbon market stands as the most mature and well-developed carbon market globally. Carbon trading prices, serving as a barometer for the carbon market, are significantly influenced by investor behavior. Therefore, it is necessary to analyze the characteristics of carbon trading prices in both China and Europe, considering the impact of investor trading intervals and psychological expected returns. This study utilizes the Zipf method to characterize the dynamic behavior of carbon trading prices between China and Europe, conducting a comparative analysis. The results show distinctive asymmetry in the behavior of carbon trading prices in both markets. In the Chinese market, when τ < 277, the absolute deviation da(τ, ε) value gradually changes but consistently indicates a bullish trend. However, when τ ≥ 277, the da(τ, ε) value surges rapidly, reflecting a pronounced bullish sentiment among investors toward carbon trading prices in China. In the European market, within the sample period, regardless of variations in τ and ε, the da(τ, ε) value shows a linear upward trend, indicating a significant overall bullishness in prices. This suggests a higher probability of long-term bullishness in carbon trading prices. Investors' investment time scale (τ) and expected returns (ε) both influence the behavior of carbon trading prices in both China and Europe. Generally, a longer τ implies a higher probability of bullishness. As for ε, higher values lead to more extreme judgments on price movements, resulting in greater distortion in carbon trading prices. Short-term investors (τ<1 month) anticipate extreme fluctuations, exhibiting random behavior when ε < 0.15 and converging rapidly to extreme values of 1 or 0 when ε ≥ 0.15. Long-term investors (τ>quarter) are less biased, expressing a bullish outlook on both Chinese and European carbon prices. With increasing ε, the probability of bullishness either increases or decreases rapidly until reaching the saturation point. Once saturated, there is no further distortion in carbon price behavior. Furthermore, the Chinese carbon market displays a positive trend in carbon trading prices and a higher probability of long-term bullishness. For the European market, lower expected returns contribute to considerable carbon trading price fluctuations, exacerbating risk and uncertainty. The results of this study contribute to understanding the diverse trading behaviors in Chinese and European carbon markets and provide guidance for avoiding extreme volatility in carbon trading prices. [ABSTRACT FROM AUTHOR]

In recent years, the phenomenon of the urban heat island caused by the rapid development of cities is very serious. To solve the problem of the urban heat island, this study proposed a PPP project consisting of the government (GOVT), photovoltaic investment company (PVIC), and residential customers (RS). Based on an evolutionary game model and combined with current policies and industry regulations in China, the evolution process and stable evolution strategies were studied. The result shows that more government subsidies, higher carbon trading prices, and feed-in tariffs will promote the development of the PPP project. For relatively suitable reference value ranges, the installation tilt angle of the BAPV system is 30°, the photovoltaic grid electricity price is 0.1096∼0.1296 $/kWh, the carbon trading is 8.92∼9.42 $/t. [ABSTRACT FROM AUTHOR]

This study utilizes panel data from 30 provinces in mainland China from 2011 to 2020 to investigate the impact of carbon-neutral development on economic high-quality development by constructing an economic high-quality development index and a carbon-neutral development index. Firstly, the study examines the effects of carbon-neutral development on economic high-quality development using baseline regression and spatial Durbin regression. The results indicate that carbon-neutral development has a positive direct effect on economic high-quality growth, but there are negative spatial spillover effects. Secondly, this study employs total factor productivity (TFP) as an intermediate variable in the mediation model regression. The findings demonstrate that carbon-neutral development significantly improves TFP, and the significant improvement in TFP promotes high-quality economic growth. Lastly, the study conducts regional heterogeneity analysis and finds a significant promoting effect of carbon-neutral development on economic high-quality development in the eastern and central regions of China, while it is not significant in the western region. Therefore, it is recommended that China, in the process of achieving carbon-neutral growth, consider the geographical connections between different regions to prevent negative spillover effects. Additionally, regional heterogeneity should be taken into account when formulating relevant policies to promote economic high-quality development. [ABSTRACT FROM AUTHOR]

This study examines whether and how carbon trading policy impacts the financialization of non-financial firms, using China emission trading scheme as a quasi-natural experiment. We find that the carbon trading policy exerts a substantial and enduring inhibitory effect on corporate financialization. Our findings are robust to possible result bias and more precise control group. Additionally, we explore potential channels through which carbon trading policy can affect financialization, and find that it curbs financialization by reducing financing constraints. Finally, we demonstrate that the relationship between carbon trading policy and financialization of non-financial companies is moderated by company's ownership, region, and industry competition. [ABSTRACT FROM AUTHOR]

China's green development in the context of carbon neutrality is facing both new constraints and new practices. In the new situation, it is crucial to further refine the indicator system and re-measure green development. Based on previous studies and carbon neutral background, the theoretical framework of green development is improved and an indicator system is constructed, and the panel entropy method, Thiel index and Moran index are used to measure and analyze green development level and its spatial evolution pattern in China from 2010 to 2019. The study shows that: (1) China's green development level is on the rise and its growth rate is high, and it generally shows a spatial distribution pattern of northeast >east > west > central, and the fastest growth rate in the east; (2) There are some spatial differences in green development level in China and the spatial differences are gradually narrowing, while only the spatial differences in the green wealth index and the inter-regional differences in the green growth index are slightly expanding; (3) There is no obvious spatial clustering phenomenon in China's green development level as a whole, and there is a positive spatial matching relationship between green development level and green wealth index and green growth index locally, which does not form a close correlation with green welfare index. The study proposes countermeasures based on stimulating the endogenous power of green development and narrowing the regional differences of green growth index, which are of reference value for China to promote green development in the context of carbon neutrality. [ABSTRACT FROM AUTHOR]

Carbon emissions from civil buildings refer to the carbon emissions generated during the operation of civil buildings. With the continuous development of the urban economy and the improvement of people's living standards, this part of carbon emission puts tremendous pressure on China to achieve the goal of carbon peaking and carbon neutral. In the context of rapid urbanization, studying the spatiotemporal characteristics and influencing factors of the carbon emissions from civil buildings have strong practical significance for China to achieve the "dual carbon" goal. Based on the emission data from 104 prefecture-level cities in China, we examine the spatiotemporal characteristics of the civil building carbon emissions from the perspectives of temporal evolution trend, spatial distribution and its dynamic evolution, spatial difference and its decomposition, and spatial autocorrelation characteristics. Finally, we reveal the influencing factors of the carbon emissions from civil buildings using static panel data models and spatial dynamic panel data models. The results of the study show that: (1) During the sample period, the carbon emissions from civil buildings have increased year by year. The civil building carbon emissions have become an important source of China's overall carbon emissions. Realizing energy saving and emission reduction in the operational stage of civil buildings is crucial to realizing China's "dual carbon" goal. (2) According to the estimated results, there is a significant inverted U-shaped non-linear relationship between urbanization and civil building carbon emissions. Most Chinese cities are located in the upward part of the inverted U-shaped curve at present. Thus, the traditional economic growth model characterized by high energy consumption and high emission during rapid urbanization should be abandoned to reduce the carbon emissions from civil buildings. (3) Technological progress and fixed asset investment can effectively reduce the carbon emissions from civil buildings. At the same time, the level of marketization and social consumption expenditure positively affect the carbon emissions from civil buildings. It is necessary to improve the relevant market mechanisms, policy subsidies, and other means to encourage the application of green energy-saving technologies in civil buildings. Also, it is needed to guide the urban residents' consumption structure and lifestyle in a low-carbon direction, to reduce the energy consumption and carbon emissions during the operation of civil buildings. [ABSTRACT FROM AUTHOR]

In this study, we used a difference-in-difference (DID) approach to analyze the effect of environmental regulation on corporate tax avoidance behavior based on China's carbon emissions trading pilot policy of 2013. Our findings were as follows: (1) Environmental regulation has led companies to adopt further tax evasion behaviors. Furthermore, the core conclusion was confirmed after a series of robust and endogenous tests, such as parallel trends and PSM-DID (propensity score matching-difference-in-difference). (2) Environmental regulations increase tax avoidance activities by reducing corporate cash flows. (3) The influence of environmental regulation on firm tax evasion is highly pronounced among non-state-owned enterprises, big-scale enterprises, and enterprises with a high degree of industry competition. [ABSTRACT FROM AUTHOR]

With the development of ecological paradigm coupled with the relentless implementation of myriad environmental policies in China, the rapid development of carbon emission trading and carbon trading market has had a vital impact on the financial performance of enterprises at the microlevel. This study has sampled the A-share listed companies in China, from 2009 to 2018, and adopted the difference-in-difference (DID) method to investigate the effect of the carbon emission trading on corporate financial performance from the microlevel. Evidence showed that the implementation of carbon emission trading effectively improved the total asset-liability ratio of enterprises, though it reduced the value of the current capital market. Moreover, in the regions under strict legal environment, the enhancement effect of the total asset-liability ratio was more obvious, whereas in the regions under loose legal environment, the reduction effect of the value of the capital market was more obvious. Further analysis showed that the implementation of carbon emission trading could not promote Chinese enterprises to increase R&D investment. Hence the implementation of carbon emission trading has improved the level of non-business income of enterprises incorporated into the trading system, but its impact on the investment income of enterprises was not significant. [ABSTRACT FROM AUTHOR]