Interactions and Co-Governance Policies of Stakeholders in the Carbon Emission Reduction

Abstract

Stakeholders need to participate in the carbon abatement activities to achieve carbon peak and carbon neutralization. This paper developed a system of evaluation indices on carbon emission reduction of stakeholders to elucidate the interplaying relationships among stakeholders in carbon emission reduction by using the structural equation model. The analysis showed that (1) the five stakeholders affecting carbon-reduction intensity are ranked in the following descending order: manufacturing enterprises, government, energy supply industry, R&D organizations, and financial institutions, while (2) stakeholders positively affect manufacturing enterprises and government. Notably, manufacturing enterprises exhibit the greater positive influence on carbon-reduction intensity. Finally, (3) the study results indicated how to build the co-governance mechanism by stakeholders to reduce carbon emissions. Overall, this study provided a theoretical support for the stakeholders of carbon emission reduction to clarify their roles, cooperation, and participation in carbon emission reduction, thereby realizing their own interests, while guiding stakeholders toward the carbon emission reduction.