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As an environmental institutional arrangement related to the information factor of the diversified participation of the government, enterprises, the media and the public, the environmental information disclosure pilot policy, can and how to affect the carbon emission efficiency through multiple collaborative governance? This study uses the Environmental Information Disclosure Pilot Policy implemented in China in 2007 as a quasi-natural experiment. It examines 284 prefecture-level cities from 2004 to 2021 and A-share listed companies from 2004 to 2021, constructing an evolutionary game dynamic model involving government, public, enterprises, and media. Through mathematical derivation and assignment analysis, it explores how environmental information impacts carbon emission efficiency under multifaceted collaborative governance, assessing the strategic choices and evolutionary paths of stakeholders before and after policy implementation, using methods like double machine learning for empirical testing. The study highlights several key findings: First, the implementation of the Environmental Information Disclosure Pilot Policy significantly enhanced carbon total factor productivity in pilot cities, as revealed through Double Machine Learning (DML) policy effect evaluation. Second, adjustments for potential estimation biases using Doubly Debiased LASSO (DDL) regression indicated that environmental information disclosure impacts carbon productivity via a governance mechanism involving government, public, media, and enterprises. Third, a causal pathway analysis suggested a sequential logic in governance effectiveness, starting from governmental environmental focus to corporate environmental responsibility. Lastly, integrating DML with a moderation effect model revealed a regulatory role for environmental legislation construction, offering new insights for achieving dual carbon goals and enriching empirical evidence on information's impact on carbon emission efficiency., Competing Interests: Declaration of competing interest The authors declare the following financial interests/personal relationships which may be considered as potential competing interests: Dongmei Wang reports financial support was provided by The Chinese Ministry of Education Humanities and Social Sciences Research Planning Fund Project (No.23YJA790095), the Chongqing Social Science Planning Project (NO. 2023NDYB48), the Chongqing Social Science Planning Fostering Project (NO.2023PY19), the Chongqing Social Science Planning Project (NO. 2021PY42), the Chongqing Municipal Education Commission Humanities and Social Science Research Project (23SKGH158)., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

The marine ecological compensation (MEC) policy is a scheme for protecting and restoring marine ecology. The previous studies have verified that the policy has improved the marine environment, ignoring the comprehensive performance of the economy and environment. Is the MEC policy actually effective for reducing marine carbon emission considering resource input and economy output? To address the question, this paper evaluates the impact of MEC policy on marine carbon emission efficiency by introducing the multi-stage difference-in-difference with propensity score matching. The results show that the MEC policy significantly improves marine carbon emission efficiency, and the positive effects dynamically enhance over time. Low-carbon technology innovation is confirmed to play a mediating role by which the MEC policy improves marine carbon emission efficiency. Therefore, gradually popularizing the MEC policy and accelerating low-carbon technology innovation are crucial measures to improve marine carbon emission efficiency and achieve sustainable marine development., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Driven by the "dual carbon" goal, it is essential to investigate whether companies can enhance carbon emission efficiency by improving Environmental, Social, and Governance (ESG) performance. This study investigates the relationship between ESG ratings and carbon emission efficiency among Chinese A-share listed companies. The study reveals that a higher ESG rating significantly improves carbon efficiency. Mechanism studies indicate that the effect of ESG mainly comes from easing financing constraints, promoting green innovation, and strengthening supervision. Additionally, the study finds that the impact of ESG on carbon emission efficiency is more pronounced in non-heavy polluting and non-state-owned enterprises. Economic policy uncertainty diminishes the positive effects of ESG initiatives on carbon efficiency, while enhanced governmental concerns to environmental significantly bolsters these impacts. This paper offers empirical insights that can inform adjustment of policies concerning ESG performance and carbon emission., Competing Interests: Declaration of competing interest The authors declared no potential conflicts of interest with respect to the research, authorship, and/or publication of this article., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

The Yangtze River Economic Belt serves as a paradigm of ecological integration and high-quality development within China. Under the constraints of the "Dual Carbon" goal, how does the integrative policy of the Yangtze River Economic Belt, aimed at reinforcing inter-regional industrial cooperation, impact carbon emissions across various provinces within the region? Leveraging panel data from 30 Chinese provinces spanning 2009-2019 and treating the 2016 promulgation of the "Yangtze River Economic Belt Development Planning Outline" as a quasi-natural experiment, this study employs a Difference-in-Differences (DID) model for discerning the effects of regional integration policies on carbon emissions, intensity, and efficiency in the 11 provinces of the Yangtze River Economic Belt. The research further delves into the underlying mechanisms through which policy interventions modulate provincial carbon emissions. Key findings include: (1) The policy's enactment has significantly attenuated provincial carbon emissions and intensity, albeit somewhat hampering the enhancement of carbon efficiency-conclusions robust to parallel trend and placebo tests; (2) Heterogeneity analyses reveal disparities in the policy's carbon emission effects, contingent on varying economic development levels and geographical loci; (3) Mechanistically, while the integration bolsters regional environmental governance and strengthens economic ties-thereby curtailing provincial emissions-it is evident that local governments have been somewhat inept in effectively channeling the influx of substantial short-term capital, hence stifling provincial carbon efficiency. In light of these insights, it is posited that local governments within the Yangtze River Economic Belt should ardently endeavor to refine and elevate regional industrial structures, champion the construction of an integrated regional market, intensify capital oversight and coordinated utilization, and enhance the efficiency of regional capital allocation, all in the quest to augment regional carbon emission reduction performance., Competing Interests: The authors have declared that no competing interests exist., (Copyright: © 2024 Xu, Cui. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.)

Carbon emissions have become a global challenge, and China, as the world's largest developing country, has a serious emissions problem. Developing green buildings is an important way of reducing carbon emissions. China's low-carbon city pilot policy may be an effective way of promoting green building development and reducing these emissions. This study uses the low carbon city pilot policy as a quasi-natural experiment and employs the staggered difference-in-differences method to investigate its impact on green building development. The results show that the low-carbon city pilot policy promotes green building development, and this policy promotes it by enhancing regional green innovation capacity, improving green total factor productivity at the firm and regional levels, and reducing the financing constraints of firms in the construction and real estate sectors. In addition, the promotion effect of the policy on green building development is stronger in western and non-resource-based regions and large-scale cities in China. This study contributes to the literature related to environmental policy, green building, and carbon emissions and supports the promotion of green building development and the reduction of carbon emissions., Competing Interests: The authors have declared that no competing interests exist., (Copyright: © 2024 Liu et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.)

Low carbon sustainable development (LCSD) has become an inevitable choice, for which China has put forward a "dual-carbon" policy. The purpose of this study is to capture the interaction between the environment and the economy in the context of this goal, thus evaluating LCSD level from a systematic perspective. This paper proposes a super slack based measurement (SBM) model with a non-equal weight structure to assess the LCSD level. Firstly, a maximum influence minimum redundancy (MIMR) index selection algorithm is designed to establish input and output index systems, which avoids redundancy indexes. Secondly, the objective function of the original super SBM employs an equal weight structure, which leads results inadequately reflect the research preferences. Therefore, the weights of indexes are introduced to form an improved super SBM. Finally, 40 cities along the Yangtze River Economic Belt (YREB) are selected for empirical analysis. Results show that (1) the LCSD level of YRBE decreases from downstream to upstream to midstream; (2) Jiangsu, Zhejiang, and Sichuan provinces have higher LCSD levels, while Hunan and Jiangxi provinces have lower levels; and (3) up to 2021, there are 32 effective cities and 8 ineffective cities. The research implies that balancing the economy-environment relationship is crucial for higher efficiency. The LCSD evaluation method not only reflects the coordination level between the economy and the environment, but also integrates the research preference into the results, providing decision support for the government to formulate carbon reduction policies and allocate resources., (© 2024. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Research Question: In the context of global low-carbon emission reduction, how to achieve green and high-quality development has become a major issue for the Communist Party of China (CPC) and the Chinese government recently. Based on the data of China's listed companies from 2013 to 2020, this paper uses Python to implement text analysis of annual reports, and explores the relationship between political acuity and carbon-efficiency synergies (CES) from the perspective of enterprise initiative., Research Findings: We found that (1) political acuity positively affects carbon-efficiency synergies. (2) Increased political acuity can reduce carbon emissions, but the effect on economic efficiency is not obvious. That is, low carbon takes the lead in raising the level of carbon-efficiency synergies. (3) Environmental regulations can positively regulate the relationship between political acuity and carbon-efficiency synergies. (4) Political acuity in southern China, carbon neutral and non-state-owned enterprises (NSOEs) will have a more pronounced effect on carbon-efficiency synergies., Academic Implications: From the perspective of the root causes of political linkages, we find the synergies between formal and informal institutions, and the key factors for policy implementation., Policy Implications: This paper is helpful for enterprises to improve the synergies of emission reduction and efficiency promotion, and has practical implications for the government to promote green and high-quality development., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

This research investigates the impact of geopolitical risk, institutional governance and green finance on environmental outcomes, specifically focusing on carbon emissions and ecological footprint. Utilizing the dynamic CS-ARDL method and aggregated mean group analysis on a panel dataset covering 21 nations from 2000 to 2021, our findings reveal that heightened geopolitical risk leads to both short and long run increases in carbon emissions and the ecological footprint. Our study finds both a direct as well as indirect connection between governance, green finance and environmental outcomes in both the short and long run, highlighting the nuanced impact of governance on the formulation of environmental policies and regulatory frameworks. The results emphasize the need for targeted strategies, including focused investments and incentives for sustainable finance, particularly in conflict-affected regions. Furthermore, our research underscores the enduring impact of historical events, such as wars, on contemporary environmental indicators, emphasizing the importance of proactive conflict prevention measures. Our research suggests that policymakers should adopt comprehensive strategies that prioritize emission reduction during short-run spikes in geopolitical risk while maintaining a steadfast commitment to long-run sustainability., Competing Interests: Declaration of competing interest The authors whose names are given below certify that they have no connections with or involvement in any organisation or institution that has a financial or non-financial interest in the subject matter or materials covered in this manuscript., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

To understand joint emission reduction (JER) of upstream and downstream firms under a low-carbon operational environment, this study incorporates green technology, remanufacturing, low-carbon promotion, consumer environmental awareness (CEA), and mixed carbon policies (carbon tax + cap-and-trade) into a dynamic framework to investigate JER decisions of the upstream manufacturer and the downstream retailer. Applying the differential game theory, we consider low-carbon goodwill as the state variable and explore members' optimal decisions in four cases, namely, idealized case, noncooperative case, unilateral cost-sharing contract (UCSC) case, and bilateral cost-sharing contract (BCSC) case. Our results show that the noncooperative case leads to a loss of efficiency in joint emission reduction. Although the BCSC is more advantageous than the UCSC in improving the efficiency of JER, a profit redistribution mechanism needs to be included, and the profit distribution ratio should be controlled within a certain interval. Only in this situation do both parties prefer the BCSC. Additionally, the impact of mixed carbon policies and CEA on JER decisions, low-carbon goodwill, profits, and coordination are fully discussed, and it is found that in the face of stricter mixed carbon policies, the downstream retailer plays a moderating role only in cooperative cases. Several practical implications are concluded for JER, contract design, CEA, and carbon policies. Governments and firms can benefit from our research by gaining a deeper understanding of JER., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

This paper uses green innovation and environmental pollution as the mediating variables to construct a mediating effect model to investigate whether China's carbon emission trading policy can improve regional eco-efficiency by reducing regional environmental pollution and stimulating green innovation. This study is based on panel data from 30 provinces and municipalities directly under China's central government and autonomous regions from 2003 to 2019. The eco-efficiency of these provinces is measured using the super-efficiency DEA model and the difference-in-difference method (DID). The results show that (1) China's emission trading policy significantly improves regional ecological efficiency and the per capita GDP. The improvement can effectively improve regional ecological efficiency. (2) The mediating effect of green innovation and environmental pollution is significant. That is, China's carbon emission trading policy further improves regional ecological efficiency by stimulating more green innovation and reducing the synergy brought by environmental pollution. (3) There are differences in the feedback of this impact mechanism between different regions: It shows the characteristics of the western region being more significant than the eastern region. The central region has no significant effect. The research conclusion can provide a policy reference for the subsequent unified promotion of the construction of a carbon emission trading market nationwide and a theoretical basis for helping to achieve the "dual carbon" goal., (© 2024. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This article contributes to the carbon pricing debate by providing new evidence on the aggregate macroeconomic effect of the European Union Emissions Trading Scheme (EU ETS) in the Eurozone. To this end, a novel macroeconomic performance index is created to capture the overall economic performance of the Eurozone countries. The index is a weighted aggregation of key macroeconomic variables-GDP growth rate, inflation rate, employment rate, exchange rate, and long-term inflation rate-for the 19 member countries of the group. The effect of the EU ETS on this macroeconomic performance index is then empirically examined while controlling for the effects of physical capital accumulation, human capital accumulation and regulatory quality. A panel framework covering the period 2005-2022 is set up to achieve this objective and the relationship is examined using panel method of moments quantile regression with fixed effects, as well as fixed and random effects regressions of Driscoll and Kraay. A number of important revelations are made. Firstly, the behavior of the macroeconomic performance index constructed clearly reflects the economic reality of the Eurozone, with downward spikes visible in periods corresponding with the economic crisis of 2007-2009, the Eurozone debt crisis of 2010/2011, the aftermath of the financial crisis of 2016, and periods around the outbreak of the Coronavirus (COVID-19) pandemic. Hence, a case is made for the use of the macroeconomic performance index as a superior aggregate measure of the overall economic performance in empirical research. Secondly, a statistically significant negative effect of the EU ETS on aggregate macroeconomic performance in the Eurozone is confirmed. This shows that there are significant economic costs associated with the use of carbon pricing as a means of lowering pollution. Thirdly, the findings further show that the negative impact gradually decreases (in absolute values) from lower to higher quantiles. Overall, higher carbon prices cause greater economic disruption when macroeconomic performance is relatively poor but have less damaging effect when aggregate economic performance is relatively strong. Policy recommendations based on the study findings are also provided., (© 2024. The Author(s).)

Hexagonal boron nitride (h-BN) nanomaterials have attracted numerous attentions for application in various fields, including environmental governance. Understanding the environmental implications of h-BN is a prerequisite for its safe and sustainable use; nevertheless, information on the negative effect of h-BN on aquatic organisms and the underlying toxicity mechanisms is scarce. The present study found that low exposure doses (0.1-1 μg/mL) of micron-sized h-BN lamella apparently suppressed (maximally 45.3%) the growth of Chlorella vulgaris (a freshwater alga) via membrane damages and metabolic reprogramming. Experimental and simulation results verified that h-BN can penetrate into and then extract phospholipids from the cell membrane of algae due to the strong hydrophobic interactions between h-BN nanosheets and lipids, resulting in membrane permeabilization and integrity reduction. Oxidative stress-triggered lipid peroxidation also contributes to membrane destruction of algae. Metabolomics assay demonstrated that h-BN down-regulated the CO 2 -fixation associated Calvin cycle and glycolysis/gluconeogenesis pathways in algae, thereby inhibiting energy synthesis and antioxidation process. Despite releasing soluble B inside cells, the B species exhibited negligible toxicity. These findings highlight the phenomena and mechanisms of h-BN toxicity in photosynthetic algae, which have great implications for guiding their safe use under the scenarios of global carbon neutrality., Competing Interests: Declaration of Competing Interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2023 Elsevier B.V. All rights reserved.)

China has adopted a national carbon emissions trading market to promote emission reductions, but until now, overallocation of allowances suffer low carbon prices and thus to unfulfilled emission reduction goals. We report a general equilibrium modeling that indicates the flexible compliance and price adjustment mechanism of the carbon market, along with explores the solution to the oversupply of allowances in the China's national carbon market. We find that, under the current policy, the initial loose allowance allocation decreases the overall carbon price, and simultaneously the total amount of banked carbon allowances reaches 4.880 billion tons in 2030, resulting in the level of carbon price cannot achieve NDC (Nationally Determined Contribution) targets. However, by introducing carbon market price adjustment schemes, we observe that the cumulative amount of allowances can effectively reduce, enabling the carbon price rising. Importantly, the amount of the supply of allowances decreases most under the benchmark decrease scenario, which increases the emission reduction pressure of the enterprises from the beginning, leading to the largest economic losses, the price-based adjustment mechanism raises the carbon price to expected level at the minimize economic losses, and the quantity-based adjustment mechanism is more sensitive to policy parameters compared to the price -based adjustment mechanism. These findings offer a promising avenue for selecting cost-effective price adjustment mechanism to improve price mechanism design for national carbon markets., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper. The policy scenario refers to the flexible mechanism design of the existing China's national ETS, as well as potential adjustment polices to overcome oversupply in the mainstream ETSs. First, the national ETS policy scenario (Current Policy, CP) follows the existing national carbon market policies and only includes the flexible compliance. Second, benchmark value decline scenario (Benchmark Decline, BD) reflects both cap adjustment and flexible compliance. Third quantity-based supply-side adjustment scenario (Quantity-based adjustment, QA) reflects both flexible compliance and price adjustment mechanism, where adjusts carbon prices via flexibly adjusting allowances supply based on the allowance quantity. Fourth, the price-based supply-side adjustment scenario (Price-based adjustment, PA) reflects both flexible compliance and price adjustment mechanism, where adjusts carbon prices via flexibly adjusting allowances supply based on carbon price. The main parameters in the model are shown in Table 2., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

Promoting green and low-carbon development has become the consensus of the policymakers and the academic, with green transformation of enterprises being the top priority. This paper adopts the difference-in-difference model to investigate the effect of green credit policy on green transition in China, by utilizing the "Green Credit Guidelines" (2012 Guidelines) policy as a quasi-natural experiment. Using panel data from publicly listed companies in China, an empirical investigation is conducted, we explain the dependent variable from two dimensions: economic performance and environmental performance, leading to the following results. First, the green credit policy affects the economic performance and environmental performance of treated firms positively, and the robust tests confirm the reliability of this primary conclusion. Second, the indirect impact of green credit policy on green transition can be explained through two mediating mechanism channels including internal capacity building and external market attention. In addition, the proposal of "Dual Carbon Targets" makes the impact a slight change. Finally, heterogeneous test also shows that the implementation effect of green credit policy is better in non-state-owned enterprises with high political relevance. These findings are providing valuable insights to promote green transition by designing more effective green credit policies., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2023 Elsevier Inc. All rights reserved.)

Inspection, standing for top-down environmental management practices, also known as campaign-style governance, is used by central governments to lessen local environmental pollution. However, there is no causal evidence for carbon abatement. Employing staggered difference-in-differences (DiD), I find that inspected cities mitigate carbon intensity and carbon emissions by 3.72% and 2.34%, respectively, with economic significance. Conducting a triple difference strategy, I suggest the channels are the local people's congresses and political consultative conferences' proposals, government attention, environmental regulation, industrial structure, and green innovation. Also, the heterogeneous effects suggest that municipal party secretaries assigned to their birthplace, the older the party standing and age, and those with natural sciences majors, are more conducive to the inspection achieving carbon mitigation. An alternative DiD specification shows that the "look-back" inspection achieves sustained carbon reduction. I support the argument that top-down inspection helps achieve resilience to climate change and reduce greenhouse gas emissions., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

Rapid developments in environmental infrastructure have contributed to significant improvements in green total factor productivity, but further investigation is required to provide a detailed assessment to understand the policy mechanisms involved. This paper analyzes environmental progress in China through MMQR, CCEMG, and AMG as empirical strategies for 30 provinces in China. Our empirical results reveal that energy optimization through renewable energy is the most effective channel to improve green total factor productivity, though it is not the only available option. Since environmental regulations, infrastructure development, and green technology innovation also directly impact energy efficiency, adopting these within policy channels will positively impact environmental sustainability. Our empirical approach helps suggest novel environmental policy suggestions. In particular, policymakers must introduce structural changes within energy developments to foster renewable energy. Furthermore, China must increase environmental spending to upgrade its energy infrastructure further and solve ecological issues. These insights offer valuable policy guidance for decision-makers in China and globally, aiming to foster economic and environmental sustainability and achieve zero-carbon transition goals., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

Encouraging enterprises to engage in green innovation is a potent strategy for reducing carbon emissions from production. As one of the largest carbon emitters, China has launched a series of policies to achieve carbon peaking and neutrality collectively referred to as China's dual carbon policy. However, existing research on the impact of China's dual carbon policy on green innovation by heavy-polluting enterprises is insufficient. To fill this gap, this study constructed a theoretical model to draw hypotheses about the impact of the dual carbon policy on enterprises' green innovation and verified this impact using a difference-in-differences model to conduct a quasi-natural experiment based on data from 2010 to 2022 from Chinese A-share-listed enterprises. The results indicate that the dual carbon policy had a significantly positive influence on green innovation in heavy-polluting enterprises. Moreover, environmental tax mediated this effect, while enterprises' total costs and subsidies positively moderated it. Additionally, the impact exhibited variations based on several key factors, including green patent type, carbon emissions, enterprise ownership structure, and Environmental, Social, and Governance ratings. This study supplements related research on the effects of environmental policy on green innovation and provides both theoretical and empirical support for adapting subsequent environmental policies., Competing Interests: Declaration of competing interest No conflict of interest exits in the submission of this manuscript, and the manuscript is approved by all authors for publication. I would like to declare on behalf of my co-authors that the work described is original research that has not been published previously, and not under consideration for publication elsewhere., (Copyright © 2023 Elsevier Ltd. All rights reserved.)

The destruction of ecosystems, increase in carbon emissions, and volatility of energy prices following the outbreak of the Russo-Ukrainian conflict constitute a complex situation that environmental managers must cope with. In response, this study aims to explore the impact of the Russo-Ukrainian conflict on carbon emissions in the European Union (EU) and associated heterogeneity factors. This study utilized stacked data from 2021 to 2022 on daily carbon emissions and used the differences-in-differences (DID) model as its methodological framework. This study also provides additional analyses for the United States (US), the United Kingdom (UK), and Russia. The full-blown Russo-Ukrainian conflict led to a significant increase in carbon emissions in the EU, averaging 0.092 MtCO2. Further investigations showed that the conflict led to a significant increase in energy prices and that changes in the prices of different energy sources had a heterogeneous effect on carbon emissions. Specifically, an increase in natural gas prices drove a rise in carbon emissions, whereas an increase in oil prices led to a decrease in carbon emissions in the EU. Third, the conflict also affected countries outside the EU, including the US and the UK, which experienced significant increases in carbon emissions in contrast to Russia, which underwent a decline. Finally, the study identified four sectors - international aviation, industry, power, and residential - as the primary contributors to elevated carbon emissions in the EU. This study provides a novel perspective for exploring the interplay between conflicts and carbon emissions and offers valuable insights into shaping effective environmental management policies and measures., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2023 Elsevier Ltd. All rights reserved.)

Evaluating the cost-effectiveness of emission trading system (ETS) will explore how to control the total emission amount while minimizing the economic cost. Most related studies employ the difference-in-differences (DID) and multi-period DID models. However, this research highlights the superiority of construction technique and estimation results in the synthetic DID model, and applies it to a new scenario for evaluating the cost-effectiveness of China's pilot ETS. From the construction technique, the synthetic DID model synthesizes more desirable control groups and allows more flexibility in matching treatment units with extreme values by setting weight combinations and intercept terms. From the estimation results, the treatment effects are considered more reliable because ideally satisfy the parallel trend assumption. Specifically, the synthetic DID model indicated that the pilot ETS effectively reduced the marginal abatement cost (MAC) by 24.39%, whereas the traditional DID and multi-period DID models may have overestimated the policy effects by 98.48% and 71.09%. The main reason was the MAC has shown a downward trend before the policy implementation. Moreover, the estimation results of heterogeneity analysis and mechanism test in different models were also different. The synthetic DID model integrates the strengths of the DID model and synthetic control method (SCM), making a methodologically grounded contribution to the existing policy evaluation system., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2023 Elsevier Ltd. All rights reserved.)

The carbon emissions trading scheme (CETS) in China is an important market-based environmental policy mechanism for decreasing carbon emissions. This paper calculates the total factor carbon productivity (TFCP) based on data from 275 cities in China from 2007 to 2020 using the DEA method and investigates the impact of the CETS on regional TFCP using the differences-in-differences (DID) method, all against the backdrop of carbon peaking and carbon neutrality. The research findings reveal that CETS has consistently improved TFCP in pilot cities, and this conclusion has held up following a number of robustness tests. Temporal heterogeneity experiments demonstrate that as implementation time increases, the enhancing effect takes on an inverted "U-shaped" structure with a 7-year effective lifetime. Spatial heterogeneity studies reveal that as one moves away from the pilot cities, the policy effect on surrounding cities' TFCP is inhibited, followed by facilitation. CETS policies can influence regional TFCP through the effects of green innovation and industry upgrading, according to mediation mechanism testing. We present policy recommendations based on the research findings for meeting the "dual" carbon goals and strengthening the carbon trading mechanism., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

In recent years, academics have paid more attention to green finance, and public companies have reached a broad consensus on the concept of timely environmental, social, and governance (ESG) disclosure. Due to the close relationship between green finance and ESG, this presents an opportunity to determine whether green finance compels companies to actively disclose ESG. The sample for this study consists of China's non-financial A-share listed companies from 2010 to 2021, and the empirical findings demonstrate that green finance can positively influence the ESG performance of listed companies. Through an analysis of heterogeneity, this study reaches the following conclusions: state-owned enterprises, heavy pollution companies, and companies in low-carbon pilot cities perform better in terms of green finance's role in promoting ESG scoring. This study also introduces market concentration and social trust as the moderating variables, enriching the green finance research framework. Through the analysis of moderating variables, the 'black box' effect of green finance on ESG is disclosed, providing theoretical support for the government and companies to better comprehend the policy effect as well as a reference for reform and experimental promotion of green finance., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

The Yangtze River Economic Belt (YEB) is at the centre of China's economy and development. Its regional carbon emissions account for about 36.9% of the country's total carbon emissions, and thus, there is an urgent need to sustain the development of a low-carbon economy. However, the complex patterns of embodied carbon flows arising from multi-scale trade in such a megaregion are often ignored in carbon environmental governance. This study incorporates a megaregion into an environmentally extended multi-regional input-output (EEMRIO) framework and identifies the drivers of production and consumption-based carbon emissions using four measures through structural decomposition analysis (SDA). The results show that (1) the YEB strengthens inter-provincial trade links while reducing international trade links; (2) there is obvious carbon transfer in multi-scale trade in the YEB, with a corresponding transfer of responsibility for carbon reduction occurring; and (3) consumption volume and carbon intensity are the main drivers and inhibitors of the increasing carbon emissions, respectively, and the optimisation of production structure and consumption structure are effective ways to control production-based carbon emissions (PBEs) and consumption-based carbon emissions (CBEs), respectively. This study extends the research scale of "national-provincial-city" to a megaregion. Studies based on multiple trade scales would provide additional insights to understand the carbon reduction responsibilities of megaregions and help achieve coordinated regional carbon reductions., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This study looks at how carbon reduction, pollution management, and monetary decentralization in China all work together for a win-win situation. Since China is the most significant contributor to global warming, the country must implement policies to cut carbon emissions and curb pollution. One possible answer is financial decentralization, delegating federal financial responsibilities, and decisions to state and regional governments. The study used the weighted matrix analysis technique, LM matrix analysis technique, and ARDL short-run and long-run analysis estimates. However, the degree to which it will help China reduce carbon emissions and regulate pollution is unclear. This study takes a multifaceted approach to the investigation of this problem. Determining the efficacy of financial decentralization in addressing environmental concerns and drawing policy implications for China's environmental governance framework requires investigating the drivers of this trend and the mechanisms through which it operates. We perform a comprehensive empirical analysis to examine the results of using Chinese data from 1999 to 2019. This study's results provide new information to the literature by showcasing the power of fiscal decentralization in propelling environmentally sound policies in China. Central policy takeaways from the report include decentralizing financial authority to local governments, encouraging cooperation across multiple tiers of government, and setting up effective systems for monitoring and enforcing compliance. These policy suggestions can help China decrease carbon emissions and regulate pollution more efficiently, paving the way to better environmental results and a more sustainable future., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Green credit encompasses financial instruments and services utilized to mitigate greenhouse gas emissions and facilitate adaptation to global climate change. Establishing a long-term stable green credit institution is crucial to promoting carbon abatement goals. This study uses the difference-in-difference (DID) model to discuss the impact of green credit policy (GCP) on environmental performance based on the China industrial enterprise data. Our results show that GCP inhibits the pollution emissions and improve firm environmental performance. This improvement effect is attributed to a reduction in production scale, and financing constraints. Moreover, GCP increases the firms' exit risk from market and promotes the technological innovation of incumbent firms. Economic growth target constraints trigger a positive moderation role in the implementation of GCP. Heterogeneity results show that such improvement effect is more pronounced in state-owned firm, large-scale firms, and high R&D intensity firms. Importantly, our findings also suggest the environmental monitoring effect of green credit is dependent on the institutional quality. Only in a sound market environment can GCP effectively improve firm environmental performance. Finally, we propose to build a systematic incentives and constraints mechanism to achieve the sustainable development. The conclusions of this paper provide empirical evidence and policy implications for the implementation of GCP., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This paper empirically investigates the effects of the green credit policy (GCP) on the total amount, quality, and quantity of green innovation in renewable energy enterprises (REEs) by employing the difference-in-differences (DID) model. Analyses examining the channel, moderating, and economic effects are conducted using a sample of Chinese listed companies between 2008 and 2021. The results indicate that the GCP significantly promotes the total amount, quality, and quantity of green innovation in REEs. This impact on REEs is mainly through a reduction in green agency costs and an increase in research and development (R&D) spending. In addition, the promotional effects are more predominant in firms subjected to intensified environmental enforcement and benefiting from increased governmental subsidies. Moreover, this positive impact is particularly evident in regions with less environmental pollution and lower economic development. Overall, the adoption of green innovation in REEs, facilitated by the GCP, substantially enhances not only the enterprise value but also the environmental performance of the participating companies. Our findings offer a novel perspective for research related to green innovation within the context of the GCP. This could further contribute to the realization of green development strategies and the construction of a low-carbon society., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Using the difference-in-difference model and panel data from 283 Chinese cities from 2006 to 2019, this study assesses the effect on CO 2 emissions of an innovative city pilot policy and analyzes its mechanism using the mediation effect model. The findings demonstrate that the pilot policy significantly reduces urban carbon emissions overall, and this finding holds even after conducting several stability tests. Innovative pilot cities can cut carbon emissions by 11.5% compared to nonpilot cities and thus significantly impact carbon reduction. Reducing carbon emissions is possible through three mechanisms. These are the enrichment of cultural resources, the development of technological innovation levels, and the optimization of industrial structure. There is a significant lag in how the innovative city pilot policy affects this reduction. The emission reduction effects of innovative pilot policies on different pollution levels, regions, and cities of various sizes are heterogeneous. In the long run, the scope of pilot projects needs enlargement in an orderly manner, and specific policies should be implemented according to local conditions. Meanwhile, advanced technologies are required in cities of different scales to build innovative development mechanisms for carbon peaking and carbon neutrality, and environmental regulations should be strengthened to implement in urban areas the concept of green and sustainable ecological development., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

The proposed carbon peak and carbon neutralization goals have ushered China into an era of emissions reduction and a climate-oriented economy. With the proposed double carbon goal, China has formulated many environmental protection and green credit policies. This paper aims to assess the impact of corporate environmental performance (CEP) on financing costs, using a panel dataset of companies in China's heavily polluting industries from 2010 to 2019. We employed fixed-effect models, moderating-effect models, and panel quantile regression (PQR) to analyze the impact, underlying mechanisms, and asymmetric features of CEP on financing costs. Our results indicate that CEP has an inhibitory effect on financing costs, with political connections strengthening this effect and GEA weakening it. Moreover, the impact exhibits asymmetry at different levels of financing costs, wherein lower financing costs see a greater weakening effect from CEP. Improved CEP helps to optimize the financing performance of companies and reduce financing costs. Therefore, policy makers and regulatory authorities should work to unblock financing channels for companies, encourage environmental investment, and remain flexible in implementing environmental policies.

To address climate change and promote green development, the Chinese government has implemented low-carbon city pilot policy since 2010, and continued to expand the scope of pilots. Accurately assessing the policy effects of pilot city construction is of great significance for the further promotion of low-carbon policy. Carbon emissions are included in the evaluation framework of China's low-carbon city pilot policy, and used the panel data of 272 cities in 2000-2018 to evaluate the effectiveness of low-carbon city pilot policy based on the multi-period difference-in-differences (DID) model. Empirical findings that (1) low-carbon pilot policy could not only directly reduce carbon emissions, but also indirectly reduce carbon emissions through upgrading industrial structure and promoting technological innovation. (2) Given that there is remarkable gap in economic and social development across different regions, the policy effect is reexamined for nature resource and region location. The results indicate that carbon emissions reduction effect of low-carbon city pilot policy is more significant in resource-based cities and eastern cities. (3) Carbon emissions have significant spatial correlation, that is to say, low-carbon pilot policy has positive spillover effect on reducing carbon emissions in surrounding cities. The study provides empirical evidence for further expanding the scope of the pilot projects, as well as scientific basis for making environmental policies for carbon emissions reduction., (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Carbon emission trading is an important environmental policy tool to promote carbon emission reduction. With the panel data of carbon emissions trading (CET) pilots, this paper used the spatial difference-in-difference model (SDID) to test whether CET can affect the enterprise environmental responsibility and the spatial spillover effect of carbon emissions trading. The study found that CET can significantly improve the environmental responsibility level of enterprises in pilot areas. The environmental responsibility level of enterprises in surrounding areas are also improved driven by CET. In the time dimension, the role of CET in improving the enterprise environmental responsibility is gradually increasing. The impact of CET on enterprise environmental responsibility has significant heterogeneity in the dimension of ownership attributes and environmental regulation. Promoting corporate environmental protection investment is the main path for CET to improve the enterprise environmental responsibility., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Following a consensus among world leaders at COP26 and COP27, every country is trying to deal with environmental issues. In this context, the role of green innovation efficiency is crucial, as it can positively drive the environmental efforts of a country. However, past research has ignored the methods through which a country can drive green innovation efficiency. To address this research gap, this work selected data from 2007 to 2021 in China, measured the green innovation efficiency (GIE) of each province, and constructed a systematic GMM model to analyze the role of environmental regulation policy and human capital on GIE. The findings of the study are as follows. (1) The overall GIE in China is 0.537, which is still at a low efficiency level, and high efficiency is mainly concentrated in the eastern region, while the western region has the lowest level of GIE. (2) The relationship between environmental regulations and GIE in the whole country and in the eastern, central, and western regions is shown to be "U" shaped. The regression coefficient of human capital on GIE is found to be positive, but there is regional variation, which is not significant in the western region and shows a significant positive correlation in other regions. (3) There is regional heterogeneity in FDI's impact on GIE; the results in the eastern region are consistent with the national results, which can promote GIE, but not significantly in the central and western regions; marketization can improve GIE in the national and eastern regions, but is not significant in the central and western regions; scientific and technological innovation can promote GIE except in the central region; and economic development can improve GIE in all regions. Studying the impact of environmental regulation and human capital development on the efficiency of green innovation and realizing the coordinated development of the environment and economy under institutional innovation and human capital innovation is of great significance for the development of China's low-carbon economy and has important reference value for accelerating sustainable economic development., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

As an important policy instrument to achieve greenhouse gas emission reduction, carbon emissions trading has also promoted the green transformation of enterprises while achieving carbon reduction targets. This study uses the implementation of the Chinese carbon emissions trading pilot policy (CETPP) as a quasi-natural experiment and analyzes the impacts of the CETPP on the green transformation of enterprises with the difference-in-differences (DID) method based on a sample of 297 listed Chinese A-share high-energy-consuming enterprises. The result findings show that CETPP can significantly promote the green transformation of enterprises. The heterogeneity analysis also reveals that CETPP has differential effects on enterprises belonging to different industries, which is caused by the fact that enterprises in different industries differ significantly in their green transformation paths and modes. Moreover, CETPP has a significant facilitating effect on the green transformation of non-state-owned enterprises compared to state-owned enterprises. Finally, marketization and enterprise social responsibility are two major mechanisms for the CETPP to promote the green transformation of enterprises. Our findings reveal that policymakers should further deepen the dynamic management of carbon emission allowances and guide enterprises to actively undertake social responsibility, thus leveraging the market regulation mechanism to promote the green transformation of enterprises., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

The "double-carbon" policy is a new opportunity for the transformation of China's production sector. With steady economic growth, each province has proposed specific policies aimed at cleaner production. However, the interactions between regions and the complex linkages between industries have hindered the implementation of the "double-carbon" policy. In order to address this issue, we introduced a complex network framework with multiple industries at a national level. The framework aimed to clarify whether there is fluctuation diffusion in China's multi-province multi-industry carbon emission system, to identify key industries and regions, and to answer the question of "who" is the most effective in governance. The results showed that the fluctuations of industrial carbon emissions had a cross-regional diffusion effect in China indeed. The diffusion capacity of industry fluctuation depends on whether the industry is located at a "hub" position in the network. Hub industries with strong capacity can spread the carbon emission fluctuation of themselves and upstream or downstream industries to the whole country through regional interactions. This characteristic of the hub industry should be taken into account in governance to maximize the effectiveness of emission reduction. Shandong and Inner Mongolia, as important provinces for the production of intermediate products and energy chemicals in China, had a greater role to play in global carbon supply push from their hub industries than in the demand pull. The pulling capacity of Beijing-Tianjin-Hebei region to the national carbon demand side was greater than that of Yangtze River Delta and Pearl River Delta. These findings might have implications for environmental and economic policymaking, particularly with regard to cross-provincial coordinated systemic solutions and policy anchors for synergy with industries., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

While many literatures have examined the influence of environmental regulation policy, which environmental regulation policy is more effective is still controversial. Taking China and two different economic regions as samples, we explore the effect of two popular environmental regulation policies, that is carbon tax and carbon emission trading, by a multi-regional environmental dynamic computable general equilibrium model. The results show that for the economic development, the carbon emission trading outperforms the carbon tax for the carbon emission trading will generate the lower economic cost. But for the emission reductions, the carbon tax outperforms the carbon emission trading for the total emissions from 2020 to 2030 are smallest when introducing carbon tax policy. We further study the effect of environmental regulation on different industries. It is found that the environmental regulation has a more obvious effect on energy industry, heavy industry and transport service industry., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2022 Elsevier Ltd. All rights reserved.)

The Chinese government has made great efforts in air pollutant reduction and carried out strict regulation policies. Since numerous air pollutants and CO 2 tend to have the same root, source, and process, recent studies argue that environmental regulation may also contribute to reducing carbon emissions. To investigate how various types of environmental regulations affect carbon emissions reduction, this paper constructs the spatial Durbin model and panel threshold model based on provincial panel data in China during 2003-2019. The main findings are as follows: First, China's net carbon emissions show a decreasing trend from east to west, displaying significant spatial agglomeration characteristics. Then, formal and informal environmental regulations have inverted U-shaped impacts on net carbon emissions. The "green paradox" and "reverse emission reduction" effects come into play at different stages. Finally, the threshold model reveals that with the improvement of regional technological innovation levels, the carbon-reducing effect of environmental regulation will increasingly come to the fore. These research findings are conducive to providing theoretical guidance for government to formulate and implement environmental regulation policies rationally., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2022 Elsevier Ltd. All rights reserved.)

The government corruption and resource misallocation are important factors that inhibit economic transformation and environmental governance. Using a study sample of 30 provinces in China, this study employs the spatial econometric methods and threshold model to investigate the relationship between regional corruption, resource misallocation, and CO2 emission. The results show that there is a clear spatial dependence and correlation of CO2 emissions. Government corruption is a neglected contributor to carbon emissions, and this promotion effects are attributed to a promotion in resource misallocation. Moreover, the CO2 emissions are significantly promoted by local labor misallocation and capital misallocation, and the increasing effect is more pronounced in areas with high corruption. For spatial spillover effects, there is also no evidence that local CO2 emissions are significantly promoted by capital misallocation of surrounding areas. Additionally, the promoting effect of corruption on CO2 emissions is more pronounced in regions with weak environmental regulation, low marketization process, and the central and western of China. This work elucidates the mechanism of the impact of corruption on environmental pollution from the perspective of resource allocation, and provides an important reference for the effective management of environmental pollution., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

The debate over the role of fiscal decentralization and industrial structure upgrading in China's environmental governance has received increasing attention. Based on China's provincial panel data from 2003 to 2019, this paper investigates the impact of fiscal decentralization and industrial structure upgrading on carbon emissions to provide empirical evidence for the above theoretical argument. The results show that fiscal decentralization and industrial structure upgrading are negatively correlated with carbon emissions, while the interaction term for fiscal decentralization with industrial structure upgrading presents a facilitating effect on carbon emissions. Besides, fiscal decentralization, industrial structure upgrading, and the interaction term have significant regional heterogeneity on carbon emissions. When fiscal decentralization and industrial structure upgrading are taken as threshold variables, the effects of industrial structure upgrading and fiscal decentralization are significantly nonlinear. Moreover, environmental regulation, transportation infrastructure, and carbon emissions are positively correlated. There exists an inverted U-shaped relationship between carbon emissions and economic growth, which proves environmental Kuznets curve theorem. However, FDI and urbanization have no significant effect on carbon emissions. According to the above conclusions, it is necessary to strengthen the positive interaction between fiscal decentralization and industrial structure upgrading in mitigating carbon emissions, promoting the green and low-carbon transformation of China's economy, thus realizing the goals of "carbon peak" and "carbon neutrality.", (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This paper investigates whether the effect of regional green finance (GF) on total factor carbon productivity (TFCP) differs by the level of environmental regulation intensity. Using data of 30 provinces in China from 2008 to 2020, we measure green finance based on the entropy weight method. Then, we employ the Super-slacks-based measure (SBM) model that incorporates undesirable outputs to calculate TFCP. Further, based on a dynamic panel threshold model, we empirically investigate the relationship between GF and TFCP. The main conclusions are as follows: (1) a nonlinear relationship exists between GF and TFCP in China. Moreover, we are the first to take market-based environmental regulation (MER) and command-and-control environmental regulation (CER) as threshold variables. With MER and CER as threshold variables, there was a double-threshold effect between both GF and TFCP. Hence, when GF has a negative impact on TFCP, the government should consider reasonably adjusting environmental regulations to reap the full benefits of GF in terms of TFCP growth. (2) The heterogeneity analysis states that the nonlinear effect of GF on TFCP in different regions is still significant under the thresholds of MER and CER. Therefore, the government should implement flexible environmental regulation policies to make GF promote TFCP according to region's characteristics. This study provides a new perspective on the relationship between green finance and total factor carbon productivity., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

With the continuous increase of marine development, intensive economic activities have reduced the marine carbon efficiency and seriously damaged the marine ecological environment, which needs reasonable environmental regulations to guide. This study aims to examine the interactions between marine environmental regulation and carbon efficiency to achieve the goal of carbon emission reduction for the sustainability of marine ecosystem. This study empirically analyzes the heterogeneous effects and mediating effects of China's marine environmental policies on marine carbon efficiency using the mediating effects model and generalized moments estimation. The results show that there is a "U" shaped relationship between marine environmental regulation and marine carbon efficiency in China, marine environmental regulation can indirectly promote marine carbon efficiency through the transmission mechanism of resource allocation efficiency and structural optimization of marine industries. In addition, China's marine environmental regulation policies have regional heterogeneous effects on marine carbon efficiency. This study provides a new perspective for optimizing marine carbon efficiency and sustainable development of marine ecosystem., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2023 Elsevier Ltd. All rights reserved.)

China is planning to introduce carbon tax policy to control the carbon emissions of the country better and achieve the "3060 goals", but there is still widespread discussion about how to introduce it and how to combine it with cap and trade. China has already established a national carbon emission trading market; however, there is also disagreement on whether to impose the carbon tax on companies and projects that have been included in scope of cap and trade. This paper adopts the research method of experimental economics to study the effect on social economy and social emission reduction under cap and trade, carbon tax, and carbon tax-carbon trading policies, and analyzes average prices of carbon market under cap and trade and carbon tax-carbon trading policies. The study finds that under the carbon tax-carbon trading policy, carbon emissions cannot be reduced significantly; but the profits of manufacturers will be reduced significantly; meanwhile, this reduction effect is even more severe for high consumption manufacturers; and it will be resulting in a lower average carbon market price under the carbon tax-carbon trading policies than under the cap and trade policy. This paper will provide theoretical suggestions for introducing carbon tax policy into China in the future and make policy recommendations for the better development of China's carbon market., (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

China's rapid economic growth is accompanied by industrial agglomeration (IA) and environmental pollution. Although IA has played an important role in reducing environmental pollution, its effect on carbon emissions is still debatable and deserves further study. In this context, this paper constructs a two-sector general equilibrium model including households and firms to explore the mechanisms of IA on carbon emissions and finds that IA mainly affects carbon emissions through the agglomeration effect and congestion effect. Then, based on the balanced panel data for 30 Chinese provinces from 2003 to 2019, this study employs the dynamic spatial panel model to investigate the nexus between different types of IA and carbon emissions. The empirical results reveal that a significant positive spatial dependence is verified in the regional carbon emissions of China, indicating that carbon emissions exhibit a remarkably spatial spillover effect. Meanwhile, there are significant variations in the influence of different types of IA on carbon emissions. Specifically, specialized agglomeration (SA) positively affects carbon emissions, while the impact of diversified agglomeration (DA) on carbon emissions is negative, implying that China's DA may contribute to carbon emission control. In addition, there is regional heterogeneity in the effect of IA on carbon emissions, with the western region having a significantly greater effect than the eastern and central regions. Therefore, the Chinese government should follow the notion of integrating territory administration and interregional communication and formulate regionally differentiated environmental governance policies to promote carbon emission reduction in the future., Competing Interests: The author declares that there are no conflicts of interest regarding this work., (Copyright © 2023 Xianpu Xu.)

The low-carbon city pilot policy is an environmental regulation aimed at reducing carbon emissions at the municipal level. Previous research mostly focused on evaluating its environmental performance and discovered it could enhance pilot cities' low-carbon innovation. However, the effects of the low-carbon city pilot policy on firm-level low-carbon innovation and their economic impact have yet to be investigated. This research uses a sample of Chinese A-share listed firms and the difference-in-difference method to examine the effect of the low-carbon city pilot policy on firms' low-carbon innovation. The baseline regression showed that the low-carbon city pilot policy could greatly encourage low-carbon innovation among firms in pilot cities. The mechanism analysis demonstrated that this improvement effect is attained by easing these firms' financing constraints. According to the heterogeneity analysis, we discovered that state-owned firms and firms situated in pilot zones with municipal secretaries who have larger promotion incentives are more susceptible to this policy. Additionally, the research on this policy's economic impact revealed that, following its adoption, the market value and comparative advantages of the firms in the pilot areas also increased. The findings of this study have implications for the enhancement and national expansion of low-carbon policies adopted at the city level., Competing Interests: The authors have declared that no competing interests exist., (Copyright: © 2023 Ge Yang. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.)

Industrial ecological efficiency is regarded as an urgent challenge that affects the development of ecological civilization and environmental governance. Here, we propose a data-driven approach to measure and promote regional industrial ecological efficiency. We collected data related to regional industrial development and used the Data Envelopment Analysis-Banker Charnes and Cooper (DEA-BCC) model to measure regional industrial ecological efficiency from a static perspective. The Malmquist index model was then used to measure regional industrial ecological efficiency from a dynamic perspective. In addition, we used a Tobit regression model to identify the factors affecting regional industrial ecological efficiency. Through a case study of regional industrial ecological efficiency, we demonstrate the specific application of the proposed data-driven approach. This study provides a new and effective tool for improving industrial ecological efficiency at a regional scale. This method can help enterprises and local governments improve industrial ecological efficiency, coordinate the relationship between industrial economic growth and the ecological environment, and boost regional efforts to achieve carbon peaking and carbon neutralization goals., (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Various targets need to be accomplished before the dream of sustainable development comes true. Among these targets, increasing renewable energy demand, reducing carbon intensity, and achieving green growth are the most noticeable. Therefore, the present study focuses on capturing digital financial inclusion's impact on renewable energy demand, carbon intensity, and green growth in the presence of ICT trade and environmental policy stringency in China. To empirically estimate the model, we have applied ARDL covering the time span from 1995 to 2020. The results state that the estimated coefficients attached to education, ATMS, and environmental policy stringency are positively significant in the renewable energy and green growth model and negatively significant in the carbon intensity model. From these results, we confer that education, digital financial inclusion, and environmental policy stringency are good for increasing renewable energy demand, reducing carbon intensity, and achieving green growth in China. In the short run, some of the estimates are negative; hence, we conclude that the results are inconclusive. The results recommend some imperative policy suggestions., (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Carbon emission trading scheme (ETS) policy is a quota-based market-motivated environmental regulation policy that by transforming environmental responsibility of enterprises into self-consciousness behavior induces green innovation behavior in enterprises and influences the level of regional green innovation. Based on panel data on green patents in 30 Chinese provinces from 2010 to 2019, the paper uses six Chinese pilot provinces for ETS as the treatment group to investigate the induced effects of Chinese ETS policy on the quantity and quality of green technology innovation using difference in difference model and analyzes the effects of Chinese ETS policy on green technology innovation in different pilot regions using a synthetic control method. The findings indicate that (1) compared with non-pilot areas, the carbon emission trading policies in pilot areas can induce green technology innovation activities. (2) In all pilot regions, ETS policies significantly promoted the quantity and quality of green technology innovation, but the quantity promotion effect was significantly better than the quality promotion effect, and the low-quality promotion effect was better than the high-quality promotion effect. (3) In terms of individual pilot region, ETS policies in Guangdong, Hubei and Tianjin significantly promoted the quantity of green technology innovation and low-quality green technology innovation, but significantly inhibited or suppressed high-quality green technology innovation in a short term. This paper not only enriches the research on environmental equity trading policies and green technology innovation theoretically, but also provides empirical evidence for the effectiveness of carbon emission trading schemes pilots program in China., (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Effected by spatial difference and types of environmental regulation, enhanced environmental regulation does not necessarily lead to reduce net carbon emissions (NCE). Based on panel data of 30 province-level administrative regions in China from 2003 to 2018, this paper analyzed the impact of heterogeneous environmental regulations on NCE using geographically weighted regression (GWR). The results showed that (1) the total NCE of each province in China presented an increasing trend followed by fluctuation, with obvious spatial aggregation characteristics. (2) The intensity of four environmental regulations, command-and-control (CAC), market-incentive (MI), public-participation (PP), and voluntary environmental program of firm (VEPF) tended to increase slightly over the study period with decreasing spatial heterogeneity. (3) CAC environmental regulations had a "green paradox" effect on NCE, meaning an improving CAC environmental regulation would surprisingly increase its negative effects and contribute to NCE growth. The effect of MI environmental regulation on NCE shifted from overall promotion to partly promotion and even suppression. PP and VEPF environmental regulation would reduce NCE. The suppressive effect of PP environmental regulation grew over time, while VEPF did not. Finally, based on the research conclusion, some policy suggestion are proposed for differentiated management, diverse system of governance, and collaborative governance., (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

To clarify the relationship between environmental regulatory competition and carbon emissions and provide a theoretical basis for carbon emission reduction governance, this paper explores the strategic interaction behavior of environmental regulatory competition by constructing a three-way evolutionary game model based on the perspective of the fusion of environmental federalism and local government competition theory. On this basis, the specific forms of carbon emission reduction competition are tested using the spatial Durbin model, and the mechanism of the effect of environmental regulation competition on carbon emissions is analyzed. The evolutionary game model shows that local governments make strategic choices based on the costs and benefits of environmental regulation, and there are strategic equilibria of "race to the bottom", "race to the top", and "differentiation of competition". The empirical results show that the competition for environmental regulations as a whole after the 18th National Congress of the Communist Party of China is a "race to the top", and the increase in the intensity of environmental regulations has an inhibitory effect on carbon emissions, which remains valid after a series of robustness tests. There is heterogeneity in environmental regulatory competition, and the effect of emissions reduction is most obvious in the central region. Mechanism analysis shows that environmental regulatory competition affects carbon emissions mainly through the effect of political performance assessment, the effect of industrial structure optimization, and the effect of low-carbon technology capability improvement. Therefore, the central government should follow the local government interest function and balance the interests of all parties, appropriately increase the proportion of environmental performance assessment and optimize the performance assessment system, and consider regional development differences to find the right carbon emissions reduction path., Competing Interests: The authors declare no conflict of interest.

Global warming and world-wide climate change caused by increasing carbon emissions have attracted a widespread public attention, while anthropogenic activities account for most of these problems generated in the social economy. In order to comprehensively measure the levels of carbon emissions and carbon sinks in Anhui Province, the study adopted some specific carbon accounting methods to analyze and explore datasets from the following suggested five carbon emission sources of energy consumption, food consumption, cultivated land, ruminants and waste, and three carbon sink sources of forest, grassland and crops to compile the carbon emission inventory in Anhui Province. Based on the compiled carbon emission inventory, carbon emissions and carbon sink capacity were calculated from 2000 to 2019 in Anhui Province, China. Combined with ridge regression and scenario analysis, the STIRPAT model was used to evaluate and predict the regional carbon emission from 2020 to 2040 to explore the provincial low-carbon development pathways, and carbon emissions of various industrial sectors were systematically compared and analyzed. Results showed that carbon emissions increased rapidly from 2000 to 2019 and regional energy consumption was the primary source of carbon emissions in Anhui Province. There were significant differences found in the increasing carbon emissions among various industries. The consumption proportion of coal in the provincial energy consumption continued to decline, while the consumption of oil and electricity proceeded to increase. Furthermore, there were significant differences among different urban and rural energy structures, and the carbon emissions from waste incineration were increasing. Additionally, there is an inverted "U"-shape curve of correlation between carbon emission and economic development in line with the environmental Kuznets curve, whereas it indicated a "positive U"-shaped curve of correlation between carbon emission and urbanization rate. The local government should strengthen environmental governance, actively promote industrial transformation, and increase the proportion of clean energy in the energy production and consumption structures in Anhui Province. These also suggested a great potential of emission reduction with carbon sink in Anhui Province.

Lowering carbon output and reducing emissions have been worldwide concerns as global warming and environmental pollution worsen. Governments play a key role in driving corporate action related to carbon and emission reduction. In this paper, mining companies listed in China's A-share market were taken as samples to analyze the impacts of fiscal subsidies on the carbon emissions of mining enterprises through empirical tests. These findings demonstrated that fiscal subsidies could substantially lower corporate carbon emissions by incentivizing and enhancing their green-technology innovation. Financing constraints provided no prominent mediator effects between fiscal subsidies and carbon emissions, and these subsidies failed to considerably relieve their financing constraints in order to restrain carbon emissions. These results indicate that government policies on fiscal subsidies could represent significant guidance for corporate low-carbon and environmental-protection efforts, thereby providing empirical evidence for governmental environmental-protection policies.

A comprehensive understanding of the effect of environmental regulation policy synergy on carbon emissions is essential for the design and decision-making of the other policy combinations. In this paper, the panel data from 30 provinces in China during 2000-2019 are used as samples to investigate the heterogeneity of different policy combinations and compare the differences using a Bayesian non-parametric generalized additive quantile method. The research results imply that the environmental regulation policy synergy has a significant heterogeneous effect on carbon emissions on different levels. Specifically, the effect of environmental regulation policy synergy on carbon emissions has an inverted U-shape trend at the low quintiles, i.e., before the turning point, it shows a "green paradox" effect, and after the turning point, it shows an "emission reduction" effect. However, the effect of environmental regulation policy synergy on carbon emissions shows a significant N-shape trend at the high quintiles, i.e., before the second turning point, it shows an "emission reduction" effect, and after the second turning point, it shows a "green paradox" effect. Moreover, the effect of environmental regulation policy combinations on carbon emissions reduction has been found to vary significantly across regions., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2022 Elsevier Ltd. All rights reserved.)

The rational use of environmental regulation tools has become an important means by which to improve the efficiency of carbon emissions. Different types of environmental regulations and their combinations have different impacts on carbon emission efficiency. In order to determine the environmental regulation configurations that may achieve high carbon emission efficiency or lead to low carbon emission efficiency, we constructed an analytical framework of connections between environmental regulation configurations and carbon emission efficiency. Moreover, 30 Chinese provinces from the period covering 2016 to 2019 were selected as research cases. In addition, the super slacks-based measure of efficiency (SE-SBM) model was applied to evaluate carbon emission efficiency. Finally, the fuzzy-set qualitative comparative analysis (fsQCA) method was employed to analyze the impact of different environmental regulation configurations on carbon emission efficiency. The results showed that the carbon emission efficiency of various regions of China is generally low (with most regions not having reached an effective level) and that there are large regional differences. We found that there are four environmental regulation configurations that can achieve high carbon emission efficiency and two environmental regulation configurations that lead to low carbon emission efficiency. Based on these configurations, we draw three conclusions: (1) There are three paths to achieving high carbon emission efficiency: one that values command-and-control environmental regulation but disfavors market-incentive environmental regulation, another that combines command-and-control environmental regulation with market-incentive environmental regulation, and a third that couples command-and-control environmental regulation with voluntary environmental regulation. (2) Two paths that may lead to low carbon emission efficiency were established: excessive penalties and the lack of specific measures. (3) In some conditions, environmental governance investment and fiscal expenditure could be substituted for each other; environmental protection administrative penalties and pollution charges are synchronized; environmental governance investment in the promotion of carbon emission efficiency is indispensable. Policies and suggestions on how the government can use environmental regulation tools to improve carbon emission efficiency are proposed from a general coordinative perspective in the final section of this paper.