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Assuming responsibility for emission reduction is an important part of participating in the global governance of climate change. Countries with a carbon neutrality target now cover about 75% of global greenhouse gas emissions. Carrying out fairness evaluations of their carbon neutrality targets provide a strong basis for the global carbon inventory. In this paper, the target years of carbon neutrality for major countries and regions under the global target of 2 °C and 1.5 °C are studied using the burden sharing model. On this basis, this paper simulates the possible pathways of carbon neutrality and evaluates the ambition of emission reduction targets in terms of annual emission reduction, per capita emission, and cumulative per capita emission. The results show that, from the perspective of equity, most of the developing countries cannot meet the global goal of 1.5 °C. The United States and the European Union nations could achieve carbon neutrality by 2050 by continuing their annual emission reductions under their existing NDC targets. However, to achieve carbon neutrality by 2060, China's annual emission reduction rate from 2030 to 2050 will be 6.7%, and the annual amount of emission reduction accounts for 51% of the global amount under the 1.5 °C target. Meanwhile, China would become the main force behind global cumulative emissions in the following decades. Thus, the emission reduction pathways China chooses will have an important impact on global climate mitigation progress. Based on the above research conclusions, this paper proposes that developed countries and developing countries should explore bilateral or multilateral cooperation in technology and finance in the field of climate change. Under the great pressure to achieve carbon neutrality, China needs to carry out research on the overall emission reduction pathways as soon as possible and clarify the paths at the scale of sectors, industries, provinces, and time stages. [ABSTRACT FROM AUTHOR]

"Carbon neutrality" refers to the total amount of carbon dioxide or greenhouse gas emissions directly or indirectly produced by a country, business, product, activity or individual over a period of time. Through afforestation, energy saving and emission reduction, etc., to offset the carbon dioxide or greenhouse gas emissions generated by itself, to achieve positive and negative offset, to achieve relative "zero emissions", which belongs to the same term as "carbon peaking" in energy saving and emission reduction. "Carbon" means carbon dioxide, and "neutralization" means a positive and negative balance. The carbon dioxide or greenhouse gas emitted is offset by afforestation, energy saving and emission reduction, which is called "carbon neutrality". Goal decomposition is the process of gradually completing the overall goal according to multiple fields to form a goal system. Target decomposition should be carried out according to the principle of integration and integration. That is, the overall goal is decomposed into sub-goals of different levels and departments, and the synthesis of each sub-goal reflects the overall goal and ensures the realization of the overall goal. This paper aims to study the decomposition of building carbon neutrality goals to sustainable energy development strategies, combining energy conservation and emission reduction with the building industry to reduce environmental pollution and energy waste. Based on the theory of sustainable development, combined with the development characteristics of China's new energy industry, this paper makes a theoretical analysis of the sustainable development of the new energy industry from the three systems of economy, society and ecology. Using the new growth theory and the dissipative structure theory, the restricting effect of the depletion of basic energy on economic development and the influence on the alternation of industrial structure are discussed. The experimental results of this paper show that the building energy consumption intensity will reach 1.43tC/10,000 yuan, 1.25tC/10,000 yuan in the ideal scenario, and 1.1tC/10,000 yuan in the low-carbon scenario. [ABSTRACT FROM AUTHOR]

In a speech at the UN General Assembly on September 22, 2020, President Xi Jinping announced that China would peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060. China has issued a series of documents on the carbon peaking and neutrality goals, which have become hot issues in society. The concept of carbon peaking is relatively easy to understand, but for that of carbon neutrality, there are some misunderstandings, such as mixed use of different terms and ambiguous scope, classification, and relationships between related concepts, which not only directly affect the implementation of the 'dual carbon' goals in China, but also impede China􀆳s participation in global climate governance and international climate cooperation towards the goal of carbon neutrality. This paper attempts to trace the origin and evolution of the concept of carbon neutrality. It sorts out the different expressions of the carbon neutrality goal, compares the differences and correlations between related concepts, and discusses the key elements and implications of the concept of carbon neutrality. The discussion leads to the following conclusions: ① The concept of carbon neutrality was introduced to the field of global climate governance after carbon trading and carbon offsetting had been proposed in the Kyoto Protocol in 1997. ② The concept of carbon neutrality has both narrow and broad senses. Narrowly speaking, it refers to carbon dioxide neutrality, while in a broad sense, it is a collective term for related concepts such as carbon dioxide neutrality, greenhouse gas neutrality, climate neutrality, net zero carbon dioxide emissions, and net zero greenhouse gas emissions. In the international community, the expression 'net zero' is more widely used. ③ To understand the concept of carbon neutrality, four elements need to be grasped: the balance between the source and removal of anthropogenic emissions; multiple implementation entities and their carbon accounting boundaries; the scope of emissions (covering merely carbon dioxide or all greenhouse gases); and carbon neutralization paths including carbon emission reduction, carbon removal, carbon offsets, etc. ④ Clarifying the concept of carbon neutrality is the basis for efficiently implementing the 'dual carbon' goals and promoting international cooperation. The terms used in the legal documents and IPCC guidelines and reports approved in the UNFCCC negotiations are internationally accepted concepts and norms. They are recognized by various governments and serve as an important foundation for scientific research as well as the cognitive basis for international negotiations and actions. The definition and interpretation of the concept of carbon neutrality should be consistent with the international community as much as possible to form a unified understanding that is not only conducive to promoting international cooperation towards carbon neutrality, but also to China' s implementation of the Paris Agreement and advancement of work towards the 'dual carbon' goals. [ABSTRACT FROM AUTHOR]

Carbon emission trading, a market-incentive environmental regulation, plays a critical role in leading China towards the carbon peaking and carbon neutrality. To improve the national carbon emission trading in China, we analyze the effects of the policy in pilot provinces and pilot A-share listed firms from 2008 to 2016. Particularly, to explore the pilot policy's environmental and financial impacts, this paper applies a difference-in-difference method. After the robustness check, the results confirm the carbon emission trading pilot's significantly positive impact at both firm- and province-level regarding carbon emission reduction. Meanwhile, corporate innovation seems to partially mediate the relationship between the policy and corporate carbon emission reduction. Plus, the policy promotes firms' market-based financial performance but such impact on accounting-based financial performance is insignificant. Ultimately, the operational mechanism of the policy is proved to be effective. In this paper, industry- and firm-level carbon emissions databases are established via environmental extended input-output table, which fill the research gap of China's firm-level carbon emissions. To ensure the reliability of results, the list of covered firms is sorted out manually in accordance with the disclosed data of seven carbon trading markets. Our results are meaningful for avoid productivity reduction and mechanism re-design in the context of the national carbon emission trading launched in 2021. Specifically, encouraging firms to further improve their productivity and competitiveness by innovation could eventually achieve a win-win situation between economic performance and environmental merits in the long run. [ABSTRACT FROM AUTHOR]

Promoting low-carbon development in the iron and steel industry (ISI) is essential for China to achieve the carbon neutrality targets. This paper separately adopts the Logarithmic Mean Divisia Index (LMDI) technique and the Mean Impact Value (MIV) method to analyze the impact of driving factors on the CO 2 emissions of ISI in the historical and future dimensions. Furthermore, this paper establishes the extreme learning machine model optimized by the bat algorithm (BA-BP) to explore the carbon emission reduction pathways of ISI in the business-as-usual (BAU) scenario, the low-speed, medium-speed and high-speed development scenarios considering the constraints of carbon neutrality targets. The results reveal that: (1) Production capacity and energy efficiency are important drivers of CO 2 emissions in ISI; (2) The emission reduction situation is not optimistic under the BAU scenario, and it is difficult to accomplish the carbon neutrality goals by 2060; (3) Under the most ideal emission reduction pathway (corresponding to the high-speed development scenario), ISI will reach its peak in 2022 with the peak value of 2143.42 MtCO 2. Compared to the peak year, the CO 2 emissions will be reduced by 654.69 MtCO 2 and 1558.61 MtCO 2 in 2030 and 2050, respectively. Moreover, the achievement of short-term and long-term emission reduction targets depends on production capacity decline and technological progress, respectively. The optimal emission reduction pathway provides a reference for ISI to formulate periodic emission reduction targets. • The improved extreme learning machine is employed to predict the carbon emissions. • The emission reduction pathways are explored under the carbon neutrality target. • Controlling production capacity is a crucial reduction strategy. • The energy rebound effect is supposed to be weakened. • The application of advanced technologies will greatly promote emission reduction. [ABSTRACT FROM AUTHOR]

• We provide the most up-to-date CO 2 emission inventory for China's cement industry. • We construct the G-LEAP model to project the CO 2 emissions of China's cement industry. • The CO 2 emissions could be reduced maximum by 70 percent in 2060, while the remainder will need to come from technological innovation and new growth horizons. This paper aims to assess the emission reduction potential of combined mitigation technologies in China's cement industry, thus transitioning towards carbon neutrality through a suitable technology portfolio and exploring a low-carbon pathway. The G-LEAP model is constructed for future carbon emission projection, incorporating the cement demand projection and technology application. The pathways based on different technology portfolios are developed to estimate the CO 2 emission trajectory of China's cement industry. We maximize the utilization of currently available technologies and assume a high level of innovative technology diffusion rate in the integrated mitigation pathway to explore the maximum abatement potential of the cement industry. The result shows that short-term mitigation mainly relies on improving energy efficiency and alternative low-carbon fuels, which would contribute 9–12% and 17–22% of the cumulative emissions reduction in the integrated mitigation pathway compared to a frozen scenario. Alternative clinkers can significantly reduce process-related emissions, but the potential is determined by the availability of raw materials, which would contribute 30–39% of the cumulative emission reduction. Post- and oxygen-combustion capture is expected to be deployed by 2030 and contribute about 28–44% to cumulative emission reduction. The technology portfolio in the integrated mitigation pathway would reduce China's cement CO 2 emissions by 63–73% compared to the frozen scenario, and the remainder of CO 2 emission would be 300–400 Mt in 2060, which will need the technological innovation and new growth horizons, such as carbon sink approaches or carbon trading. [ABSTRACT FROM AUTHOR]

• The influencing factors of carbon prices in China's carbon market are analysed. • The influencing factors and historical data are combined to predict the carbon price. • The EEMD-BP-ELM model and the CHINAGEM-E model are constructed and combined. Carbon price is one of the core indicators of the carbon market. Making accurate predictions of carbon prices based on insight into the volatility characteristics of the carbon market will not only provide a scientific basis for investors and regulators to make decisions and greatly promote emission reduction, but also effectively promote the healthy development of the carbon financial market. Based on the historical carbon price data of the national carbon market, this paper constructs the EEMD-BP-ELM model to predict the high and low frequency components of China's future carbon price. On this basis, according to China's goal of peaking carbon emissions before 2030 and achieving carbon neutrality before 2060, the CHINAGEM-E model is used to predict the trend component of the carbon price under the baseline and the 2060 carbon neutral scenarios. Finally, the trend component is combined with the high and low frequency components to obtain the price range from 2022 to 2060. We find that under the baseline scenario, China's carbon price range in 2060 is [343, 785] CNY/tCO2, while under the 2060 carbon neutral scenario, this price range is [1543, 3531] CNY/tCO2. [ABSTRACT FROM AUTHOR]

• Constructing a new welfare function considering economy, equity and ecology. • Optimizing carbon emission pathways from multiple perspectives. • Focusing on the emission pathways in China achieving the ambitious targets. With the increasing climate warming, reducing carbon emissions has gradually become a consensus around the world. However, the process of carbon emission reduction will inevitably lead to the transformation of economic structure, industrial structure and energy structure, which will bring huge changes in economic output, employment and other aspects, thus affecting the overall social welfare and equity. Therefore, it is particularly important for each country to determine a scientific and effective carbon emission pathway which take into account both social development and climate targets. As the largest carbon emitter, China has put forward the targets of carbon peak and carbon neutrality. In this regard, the corresponding carbon emission reduction scenarios are designed according to the new situation of China's emission reduction in this paper, firstly. Furthermore, under the premise of maximizing social welfare, an optimization model which integrating economic growth-equity-environment is developed to determine China's emission pathways under different scenarios from 2020 to 2050. Besides quantitatively showing the future total amount and peak value of carbon emissions under different scenarios, the results can also identify its evolution pathway over time. Therein, the peak under most scenarios will concentrate in 2025–2030, which is about 10.7 to 11.8 billion tons. With the increasingly stringent constraints on carbon emission reduction, the cost of emission reduction will increase correspondingly, but the overall social welfare will increase slightly. Finally, our findings provide practical guidance on achieving carbon emission reduction and enlightenments on policymaking. [ABSTRACT FROM AUTHOR]

Emissions trading system (ETS) is a cost-effective way towards achieving the carbon neutrality goal. Based on the gaps in the research on carbon allowance allocation vis-à-vis the carbon neutrality target, this study examines how to allocate carbon allowances equitably and effectively among Chinese provinces. Different from the previous research that mainly considers responsibility, ability, and potential of equity dimensions, this paper proposes a composite indicator allocation approach based on the equity of history, demand, contribution, and guarantee, and it also employs the entropy method and expert survey method to obtain the indicator weight values in different scenarios. Results show that the carbon allowances of some provinces, such as the forest-rich province of Yunnan, vary significantly in five scenarios, but little differences are observed for some provinces, such as the high historical emissions province of Shanxi. More provinces achieve data envelopment analysis efficiency in the preferred scenario. Compared with the objective scenario, the required emission reduction in the preferred gross domestic product (GDP) scenario is 231 million tonnes less, and the emission reduction cost is 190 billion yuan less. It is suggested that the Chinese government should adopt the allocation scheme in preference for the GDP scenario. [ABSTRACT FROM AUTHOR]