碳交易政策与高耗能企业绿色技术创新

Carbon Trading Policy and Green Technology Innovation in High-energy-consuming Enterprises

随着能源消耗和碳排放量不断增加,气候问题日益严重,各国纷纷采取环境规制政策以应对挑战。碳交易政策作为其中的一种重要手段,通过市场力量促进企业绿色技术创新来减少碳排放。高耗能企业作为我国碳排放的主体,承担着碳减排的巨大压力和挑战,亟需加大绿色技术创新投入以适应市场环境。为了探究碳交易政策对高耗能企业绿色技术创新的影响,本文采用2000—2022年高耗能行业A股上市企业的面板数据,构建双重差分模型,实证检验了碳交易政策与高耗能企业绿色技术创新之间的关系。结果表明:碳交易政策能够显著促进高耗能企业的绿色技术创新。此外,本文进一步探讨了不同情境下政策影响的异质性,研究发现碳交易政策对实力较强的企业绿色技术创新的促进作用更强;相比绿色发明专利,碳交易政策对绿色实用新型专利获得数量的影响更大;企业拥有较高的机构投资者持股比例时,其绿色技术创新受碳交易政策的影响更大;处于我国重点进出口省市的企业受到碳交易政策影响要高于其他地区的企业。

With energy consumption and carbon emissions continue to increase.The climate issues are becoming more severe.Many environmental regulation policies have been promulgated to address the challenges of environmental degradation.Carbon trading policy,as an important means,promotes green technology innovation in enterprises through market forces to reduce carbon emissions.As the main emitters of carbon in China,high-energy-consuming enterprises bear tremendous pressure and challenges for carbon emission reduction.And there is an urgent need to increase investment in green technology innovation to adapt to the market environment.To explore the impact of carbon trading policies on green technology innovation in high-energy-consuming enterprises,a difference in differences model was constructed.Panel data of A-share listed companies in high energy consuming industries from 2000 to 2022 were used to empirically test the relationship between carbon trading policies and green technology innovation of high energy consuming enterprises.The results indicate that carbon trading policies can significantly promote green technology innovation in high energy consuming enterprises.In addition,the research samples were grouped based on different dimensions to further explore the heterogeneity of policy impacts in different contexts.The findings reveal that carbon trading policies have a stronger promoting effect on green technology innovation in stronger enterprises.Compared to green invention patents,carbon trading policies have a greater impact on the number of green utility model patents obtained.When enterprises have a higher proportion of institutional investor shareholding,their green technology innovation is more significantly influenced by carbon trading policies.And enterprises located in key import and export provinces and cities in China are more affected by carbon trading policies than those in other regions.