双碳目标下中国碳交易对企业碳排放影响研究

Research on the Impact of China′s Carbon Emissions Trading on Corporate Carbon Emissions

为探究碳排放权交易减排效果,基于中国沪深A股853家上市公司2008—2020年的面板数据,以碳排放权交易试点为准自然实验,运用多期双重差分模型分析碳排放权交易对企业碳排放影响。基于超效率EBM模型测算企业绿色全要素生产率,运用中介效应模型,探究碳排放权交易能否通过影响绿色全要素生产率促进减排。研究结果表明:碳排放权交易显著降低试点地区企业碳排放;绿色全要素生产率在碳排放权交易对企业碳排放的影响中起部分中介作用。

The panel data of 853 A-share listed companies in Shanghai and Shenzhen from 2008 to 2020 were selected as researched samples to study the emission reduction effect of carbon emissions trading pilot.The Multi-Period Double Difference Model was used to analyze the impact of carbon emissions trading on corporate carbon emissions.The super efficiency EBM(Epsilon-Based Measure)model with both radial and non-radial characteristics was used to measure the green total factor productivity of enterprises,and the Intermediary Effect Model was used to explore whether the green total factor productivity plays an intermediary role in the process of carbon emission trading on enterprise emission reduction.The results show that carbon emissions trading can significantly reduce the carbon emissions of enterprises in pilot areas;green total factor productivity plays an intermediary role in the impact of carbon emissions trading on carbon emissions.