Abstract
Recently, the environmental and resource crisis caused by excessive energy consumption has aroused great concern worldwide. China is a major country of energy consumption and carbon emissions, and has attempted to build a carbon emission trading market to reduce carbon emissions. This practice helps to promote the carbon trading projects for both regional carbon emission reduction and sustainable development in the pilot areas, as well as having important theoretical and practical significance for the further improvement of carbon emission trading policies. In this study, we first used the difference-in-difference (DID) model to evaluate the impact of carbon emission trading on the carbon emission intensity of construction land (CEICL). The results showed that the carbon emission trading policy can significantly reduce CEICL in the pilot areas. Furthermore, we adopted the quantile regression model to explore the mechanism and acting path of carbon emission trading on CEICL. The results show that the increase in carbon trading volume (CTV) can effectively reduce the CEICL. However, a high carbon trading price (CTP) tends to reduce the suppressing effect of carbon emission trading on CEICL. Additionally, carbon emission trading also affects CEICL through the indirect acting paths of industrial structure and energy intensity. Finally, we propose to promote regional low-carbon development from the perspective of developing a carbon emission trading market nationwide, rationalizing the carbon quota and trading price mechanism, optimizing the regional industrial structure, and improving the energy consumption structure.
Highlights
Along with the continuous development of economy, the massive increase in carbon dioxide emissions caused by fossil energy consumption has caused increasingly serious environmental problems such as global warming
These results indicate that the implementation of the carbon emission trading policy can significantly inhibit the increase of carbon emission intensity of construction land (CEICL) in the pilot areas
The results show that carbon emission trading policy can greatly facilitate the reduction of the CEICL in pilot areas, which was further validated by a robustness test
Summary
Along with the continuous development of economy, the massive increase in carbon dioxide emissions caused by fossil energy consumption has caused increasingly serious environmental problems such as global warming. It is still facing continuous increases in carbon emissions. In this case, the Chinese government has pledged to reduce its carbon emissions generated per unit of GDP (carbon emission intensity) by 40–45% before 2020 relative to those of 2005. Under the multiple pressures of reducing carbon emissions, resource demands, and environmental protection, China has made a series of explorations and efforts, such as controlling energy consumption. The Chinese government launched a pilot project of local carbon emission trading in 2011, which covered the areas of Beijing, Tianjin, Shanghai, Guangdong, Shenzhen, Hubei, and Chongqing. The project aims to control greenhouse gas emissions and lower the cost of emissions reduction through market mechanisms, as well as provide guidance for the establishment of a carbon emission trading market nationwide
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
