Abstract
Based on a panel data of China’s iron and steel (IS) industry from 2000 to 2014, this paper explores the impact of environmental regulations on CO2 emissions in the industry. The results show that there is a clear inverted-U relationship between environmental regulations and CO2 emissions in the IS industry. Additionally, there are regional heterogeneity and regulatory intensity on the impact of environmental regulations on CO2 emissions. The results in the eastern region are consistent with the whole sample results, while the upward trend in the central region and the downward trend in the western region together lay the basis for the inverted-U shape of the whole sample. High environmental regulations affect CO2 emissions in an inverted-U shape, while low environmental regulations present a U shape. The mechanisms of environmental regulations affecting CO2 emissions are synergy effect and technological innovation effect. Finally, this paper proposes some policy recommendations according to the above findings.
Highlights
Since the increase in greenhouse gas emissions, such as CO2, resulting in global warming, human survival is facing an unprecedented threat
This paper studies the impact of environmental regulations on CO2 emissions in the iron and steel (IS) industry
Based on the panel data of 28 provinces in China from 2000 to 2014, this paper studies the impact of environmental regulations on CO2 emissions in the IS industry
Summary
Since the increase in greenhouse gas emissions, such as CO2, resulting in global warming, human survival is facing an unprecedented threat. In order to alleviate the greenhouse effect and suppress CO2 emissions, China has promised that its CO2 emissions per unit of Gross Domestic Product (GDP) (carbon intensity) will fall by 40%–45% by 2020 compared with 2005 [2]. As a responsible developing country, China has promised to reduce its carbon intensity by 60%–65% in 2030 compared with 2005 [2], and will reduce emissions by more than 12 billion tons per year. In order to achieve sustainable development of the IS industry [8], the Chinese government has formulated a number of environmental policies and regulations, and issued a series of documents from the steel production technology level to alleviate CO2 emissions.
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