Abstract
As the development of a green and low-carbon economy has received great attention from governments around the world, carbon peaking and carbon neutrality have become important issues raised by China. As a major energy consuming country, government has actively formulated and implemented various carbon emission reduction policies in order to curb carbon emissions. Whether these policies achieve economic growth in the process of energy conservation and emission reduction, and promote China’s green and low-carbon development transition is the focus of this paper. This paper selects data from 30 provinces in China from 2010 to 2019, establishes a model, and empirically analysis the impact of carbon emission reduction policy tools on economic growth. The results show that there is a significant negative correlation between mandatory carbon emission reduction policies and economic growth, while market-based carbon emission reduction policies enhance the economic strength of the region. In addition, this paper empirically tests that after the establishment of the carbon market in 2013, market-based carbon emission reduction policies have significantly promoted economic growth, and the impact of carbon emission reduction policies on economic growth have regional heterogeneity.
Highlights
Greenhouse gas emissions have led to global warming and environmental degradation, which have severely threatened economic growth and the sustainable development of society and the environment
The results show that the regression coefficient of the mandatory policy tool is significantly negative at the 1% significance level after economic growth is taken as the proxy variable of the total regional GDP; the coefficient of the market policy tool is significant at the 1% significance level and positively correlated with economic growth
Based on the panel data of 30 provinces in China from 2010 to 2019 and establish a model to study the impact of carbon emission reduction policies on economic growth, draws the following conclusions: From the full sample empirical results of all provinces across the country, the two types of carbon emission reduction policies have different effects on economic growth: mandatory policy tools have a restraining effect on economic growth; market policy tools effectively promote economic growth
Summary
Greenhouse gas emissions have led to global warming and environmental degradation, which have severely threatened economic growth and the sustainable development of society and the environment. The 2021 State Council government work report pointed out that it is necessary to do a solid job of carbon peaking and carbon neutrality, formulate an action plan for peak carbon emissions before 2030, and optimize the industrial structure and energy structure. At this stage, China mainly adopts a parallel carbon emission reduction policy that mainly reduces carbon emissions per unit of GDP, supplemented by a carbon emission trading mechanism. Provide theoretical support for the formulation and implementation of China's carbon emission reduction policies
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