Abstract
To cope with huge carbon emission pressure, China has implemented a carbon emissions trading pilot policy that aims to provide reasonable suggestions for the smooth operation of the national carbon market. This paper selects the provincial panel data in China from 2005 to 2019 and uses the propensity score matching-difference in difference (PSM-DID) method to evaluate the carbon emission policy’s reduction effect. Based on carbon emissions (CE) and carbon emission intensity (CI), provinces and cities are divided into four regions, and each region is verified by spatial difference analysis. Furthermore, the mediating effects of carbon emission reduction through the dual aspects of technological progress and industry structure are also discussed. Results verified that, (1) under the carbon emission trading policy, regional carbon emissions and carbon emission intensity are both significantly reduced. (2) Technological progress helps to reduce carbon emissions, while industrial structure shows no obvious contribution. (3) The four regions all show ideal emission reduction effects, of which the High CE-High CI region shows the best, but is greatly restricted by techniques. The industrial structure of the High CE-Low CI region needs to be further optimized for carbon reduction. In the Low CE-High CI region, the carbon emissions brought by economic development fail to effectively improve per capita GDP. The Low CE-Low CI region contributes greatly to carbon emission reduction with technical advantages.
Highlights
At present, extreme climate events such as high temperature, cold, flood, and drought occur frequently, which has brought increasingly serious disaster problems to the world.The main factor in global climate problems is the large emission of greenhouse gases, among which carbon dioxide emitted from fossil fuel combustion and industrial enterprise production is the main source
Is the carbon emission trading policy universal under different regions, and what is the reduction effect in these regions? What kind of transmission mechanism exists between policy and carbon emission reduction? This study aims to provide empirical evidence and policy suggestions to promote the smooth operation of the national carbon emission trading market for China and other similar countries
The evaluation of the carbon emission reduction effect of carbon emission trading policy can provide a reference for the national promotion of the carbon trading market
Summary
The main factor in global climate problems is the large emission of greenhouse gases, among which carbon dioxide emitted from fossil fuel combustion and industrial enterprise production is the main source. In order to control global warming and reduce the occurrence of severe climate disasters, many countries signed the United Nations Framework Convention on Climate Change in 1992, and have actively implemented energy conservation and emission reduction policies to control greenhouse gas emissions. Controlling carbon dioxide emissions and establishing a green, low-carbon, and sustainable global governance system have become the common development goals of all countries. The carbon emissions generated by developing countries account for a considerable proportion, which puts heavy pressure on their own emission reduction, as well as global carbon emission reduction [1]. As BRICS (Brazil, Russia, China, India, and South Africa) countries, China, India, and Russia accounted for 41.2% of the world’s total carbon emissions in 2014, up from
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