School of Economics, Zhongnan University of Economics and Law, Wuhan 430073, China.
Institute of Green Finance, Lanzhou University, Lanzhou 730000, China.
Int J Environ Res Public Health. 2023 Mar 3;20(5):4537. doi: 10.3390/ijerph20054537.
As one of a number of crucial policies for achieving the goal of "double carbon", it is crucial to investigate the "carbon neutral" effect of the carbon trading market (CTM) in the pilot phase, which is an essential reference for the development of a future CTM. Based on panel data of 283 cities in China in the period from 2006 to 2017, this paper examines the impact of the Carbon Trading Pilot Policy (CTPP) on the achievement of the "carbon neutrality" target. The study shows that the CTPP market can promote an increase in regional net carbon sinks and further accelerate the achievement of the "carbon neutrality" goal. The findings of the study remain valid after a series of robustness tests. The mechanism analysis finds that the CTPP can help achieve the carbon neutrality target through three mechanisms: the effect on concern for the environment, the effect on urban governance, and the effect on energy production and consumption. Further analysis reveals that enterprises' willingness and productive behavior, as well as the internal elements of the market, have a positive moderating effect on the achievement of the carbon neutrality target. In addition, there is heterogeneity among regions with different technological endowments, CTPP regions, and regions with different shares of state-owned assets in the CTM. This paper provides important practical references and empirical evidence that can help China to better achieve the "carbon neutrality" target.
作为实现“双碳”目标的多项关键政策之一，研究碳交易市场（CTM）在试点阶段的“碳中和”效应至关重要，这是未来 CTM 发展的重要参考。本文基于 2006 年至 2017 年中国 283 个城市的面板数据，考察了碳交易试点政策（CTPP）对实现“碳中和”目标的影响。研究表明，CTPP 市场能够促进区域净碳汇的增加，进而加速实现“碳中和”目标。经过一系列稳健性检验，研究结果仍然成立。机制分析发现，CTPP 可以通过三种机制帮助实现碳中和目标：对环境关注的影响、对城市治理的影响以及对能源生产和消费的影响。进一步分析表明，企业的意愿和生产行为以及市场的内部要素对实现碳中和目标具有积极的调节作用。此外，在不同技术禀赋、CTPP 地区和 CTM 中国有资产份额不同的地区之间存在异质性。本文提供了重要的实践参考和经验证据，有助于中国更好地实现“碳中和”目标。
