Can the low-carbon city pilot policy promote the upgrading of high-carbon emitting enterprises? Evidence from China

As a crucial environmental reform system to realize“carbon peaking”and“carbon neutrality”,the pilot policy of low-carbon cities(LCCs)puts pressure and challenges on high-carbon emitting enterprises(HCEEs)while providing opportunities for these firms to take the path of independent transformation.Employing the data of Chinese listed enterprises from 2006 to 2016 and adopting a difference-in-differences(DID)model,we evaluated the impact of LCC construction on the upgrading of HCEEs and its mechanisms.The results indicate that LCC construction enhances the upgrading of HCEEs in the pilot cities.The conclusions remain stable after a series of robustness tests.The mechanism analysis reveals that LCC construction triggers the upgrading of HCEEs by promoting resource allocation efficiency,R&D investment,and green technology innovation.The heterogeneity results indicate that this positive effect is more pronounced for HCEEs in regions with more stringent environmental law enforcement.This study also observes that the upgrading impact is more promi‐nent for state-owned enterprises,enterprises with higher bargaining power,and enterprises whose managers have a long-term vision.The above results provide directions for upgrading HCEEs and replicable evidence for cities in developing economies to fulfill the win-win target of environmental protection and economic transfor‐mation.

China’s Climate Policy:Mandate-Based vs.Market-Based Approaches

Mandate-based and market-based mechanisms represent two primary approaches to achieving policy objectives,yet the debate over their relative effectiveness remains unresolved.The mandate-based approach is exemplified by pilot programs for low-carbon provinces and cities,referred to as“Low-Carbon Pilot Provinces/Cities”,while the market-based mechanism is reflected in pilot programs for carbon emissions trading markets,or“Carbon Trading Pilot Programs”.This paper employs event study analysis to compare the carbon emission reduction impacts of these two approaches.Our findings reveal that the Low-Carbon Pilot Provinces/Cities achieved emissions reduction primarily by curbing economic output,without significantly reducing carbon emissions intensity.In contrast,the Carbon Trading Pilot Programs led to an increase in total carbon emissions by driving economic growth,even as they reduced carbon emissions intensity.A heterogeneity analysis further indicates that the emissions reductions observed in the Low-Carbon Pilot Provinces/Cities were predominantly concentrated in economically less-developed regions,whereas the increase in carbon emissions associated with the Carbon Trading Pilot Programs was more significant in regions with lower initial carbon emissions intensity.Against the backdrop of China’s efforts to achieve its carbon peak and neutrality goals,this paper offers valuable insights for the design of effective climate policies.

Long-term costs and benefits analysis of China’s low-carbon policies

China’s long-term,low-emission development goals will hinge on effective low-carbon policies.Therefore,it is valuable to evaluate the costs and benefits of low-carbon policy packages to ensure that low-carbon development concepts and strategies can be well integrated into the policy making process.This work uses the Low-carbon Policy Assessment(LPA)model to assess long-term costs and benefits of climate and energy policies in China under the reference(RS)scenario and the low-carbon(LC)scenario,which includes 25 additional climate and energy policies.In the LC scenario,both energy-related CO2 emissions and total greenhouse gas(GHG)emissions peak around 2030,achieving China’s Nationally Determined Contribution(NDC)target.Of the policies included in the LC scenario,the five with the highest GHG mitigation potential beyond China’s existing policies are:fluorinated gas(F-gas)substitution,a renewable portfolio standard,carbon pricing,carbon capture utilization and storage(CCUS),and a fuel economy standard for heavy duty vehicles(HDVs).In addition to reducing GHG emissions,these policies decrease particulate emissions and associated premature deaths,which would otherwise reduce China’s GDP by nearly 1.5%in 2050.Together,these policies have the potential to promote significant low-carbon prosperity in China.

Does innovative city pilot policy promote urban green growth in China?An analysis of green total factor productivity,2005-2020

The innovative city pilot policy(ICPP)is an essential manifestation of China’s construction of an innovative and green-driven development country.We incorporated urban green total factor productivity(GTFP)growth into the evaluation of ICPP.Based on the panel data of 223 cities in China from 2005 to 2020,we used the difference-in-differences model to empirically assess the influence and mechanism of the ICPP on urban GTFP growth.The main results show that(i)The ICPP has maintained an effectively fluctuating promotion on urban GTFP growth,mainly manifested in the urban green technological progress improvement.(ii)The ICPP has urban heterogeneity in promoting GTFP growth in pilot cities,mainly affecting key cities such as provincial capitals.(iii)The interaction between the agglomeration of producer services and the ICPP inhibits GTFP growth in pilot cities.

Optimization and Regulation Policy for Land Use Changes Based on Low-carbon Emission in Developed Regions of China

Land use and cover change(LUCC) is one of the important causes of the Earth’s carbon cycle imbalances resulting from failure in optimizing land use. The solution to this problem has been the hotspot of research in land and environmental science. We took 'low carbon', 'energy saving' and 'high-efficiency' as the goals of land use optimization,and integrated Markov-CA(Cellular Automaton),the Grid-Fractal model and GIS,in order to study carbon emission objective function,to establish a simulation method for land use spatial allocation optimization,to evaluate the effect of the method on carbon emissions. Regulation policy on three types of land use spatial allocation was proposed,including 'low-carbon type', 'low-carbon-economic type' and 'economic type'. We applied the method to analyze the land use spatial allocation in Taixing City of the 'Yangtze River Delta' regions in China,and obtained the following results:(i) The three optimization types would improve carbon emissions by 3. 21%,1. 80% and 0. 36% respectively in 2020,compared with 2010;(ii) The actual planning for 2020 was close to the 'low-carbon-economic type';(iii) The optimization method and regulation policy,combining local optimization and global control,could meet the sustainable multi-objective requirements for low-carbon constraints of land use spatial allocation. The result of this research could also serve as a reference for exploration into patterns of regional low-carbon land use and measures for energy saving and emission reduction.

Research on the transmission mechanism of low-carbon policies:an empirical study of agricultural companies

Companies bear primary responsibility for low-carbon economy,thus relevant low-carbon policies should be set properly to guide them and to ensure their low-carbon production effectively.To solve the problems generated during low-carbon development,this article verifies the existence of the transmission path and strength.This verification includes mediating variables of companies'willingness and capacity to conduct low-carbon production,a transmission mechanism through incentive path and resources protection,and questionnaire data of agricultural companies.Conclusions show that the lowcarbon policies have obvious positive effects on willingness of corporation;the basic service-oriented policy has a significantly promoting effect on low-carbon production capacity;and low-carbon production performance is positively influenced by willingness as well as capability.Aiming at a better transmission path,some corresponding recommendations have been put forward in the end.

Scaling up private investment in low-carbon energy systems through regional cooperation: Effective trade policy measures

How to ensure energy supply and reduce environment pollution have turned into governments’ top priorities and key factors to maintain sustainable development. In this context, two major trade and investment agreements that could lead to profound influence on low-carbon energy systems development around the Asia-Pacific region are the Regional comprehensive economic partnership (RCEP) consisted of the Association of Southeast Asian Nations (ASEAN) plus Australia, China, India, Japan, New Zealand, and Republic of Korea and the Belt and road initiative (BRI) initiated by China. In order to have a smooth transition to low-carbon energy systems in Asia, besides RCEP and BRI, it is imperative to boost private sector investment. Success of encouraging private sector investment depends on appropriate government policies towards promoting innovations and reducing financial risks to private investors. The research questions that are examined in this study are: What type of policy measures affects trade in low-carbon transition, particularly renewable energy (RE) transition? How can investment signals and incentives be reframed to scale up private finance in RE? The objective is to investigate and to provide several feasible trade policy and investment policy tools for both national and regional markets that governments could adopt to accelerate the speed of private financing of the low-carbon energy industry, particularly the RE industry.

Research on low-carbon development of electric power industry:from the perspectives of public policy

It is a fundamental way to achieve sustainable development and inclusive growth that China takes the low-carbon development path.And low-carbon development is an effective way to respond to many threats,including global climate anomalies,environmental degradation,and energy shortage.Low-carbon economy is policy economy to a large extent.Although the external environment demands low-carbon development of electric power industry,enterprises lack intrinsic motivation.Electric power industry is the pillar industry of China,and is one of the key industries for China's low-carbon development.The government needs to ensure its dominant position in the low-carbon development of electric power industry,and reform the government performance management system and promote the planning and management of electric power industry through appropriate public policy,in order to adjust the structure of the electric power industry and take a low-carbon development road with Chinese characteristics.

Study on Carbon Emission Driving Factors and Low-carbon Policy of Transportation Industry in Henan Province

The transportation industry is the basic industry of national economic development. At the same time, it is the only industry in China that has continuously increased CO2 emissions, and the high energy consumption problems have not been solved. Henan province, as a major energy consumption province, it is urgent to improve the supply quality of transportation industry. The paper uses the IPCC calculation method for carbon emission to calculate the CO2 emissions of transportation industry in Henan province from 2004 to 2014. Then, this paper uses the LMDI method to decompose the CO2 emission in the transportation industry and give the proposal to reduce the CO2 emission according to the CO2 emission drivers.

A Mechanism for Digital Finance to Drive Green and Low-Carbon Development

Given the global focus on green and low-carbon development and the increasing prominence of digital finance,it is particularly important to explore how to leverage digital finance to achieve these environmental goals.This study,through mechanism analysis,deeply examines how China’s digital finance promotes green and low-carbon development and elucidates the positive interaction between digital finance and the green industry.The study found that digital finance,through more flexible and efficient financial functions,alters the cost structure of carbon emissions,and reduces the risks and costs of green investments,thereby creating a cooperative green mechanism benefiting all parties,and guiding social groups toward a green and low-carbon transformation.Additionally,the rapid development of digital finance has strengthened the implementation of environmental protection policies,effectively promoted the expansion of the environmental protection industry,and established the green ethos as a mainstream concept in financial development.This study aims to provide reference perspectives and suggestions,assist policymakers in promoting the green and lowcarbon development of digital finance,and offer insights into the integrated development of digital finance and the green environmental protection industry.

国家信息消费试点政策是否促进了城市数字经济发展?——基于2005—2021年中国292个城市面板数据

数字经济的迅猛崛起,已显著提升了其在国民经济结构中的战略地位,成为一股不可或缺的力量,强有力地推动着我国经济向更高质量层次迈进。本文利用2005—2021年中国292个地级市的面板数据,实证研究了国家信息消费试点政策对数字经济发展的影响。结果发现:国家信息消费试点政策对数字经济发展水平具有正向影响;信息化发展水平是国家信息消费试点政策与数字经济发展水平的中介变量;国家信息消费试点政策对数字经济发展的促进作用在特大型城市与大型城市相对更大。基于此,应制定政策鼓励高校和科研机构加大对数字技术人才的培养力度,不断提升国家信息消费试点政策对西部地区数字经济发展水平的促进作用,鼓励试点地区大力发展数字内容、数字娱乐等产业,为客户提供更真实的信息消费体验。

市场型环境规制对碳排放强度的影响效应和机制研究——基于碳交易试点政策的经验证据

作为市场型环境规制手段的碳排放权交易是助力实现“双碳”目标的重要政策。基于2009—2019年中国省级面板数据,运用双重差分法,探究碳交易试点政策的实施对碳强度的影响效应和影响机制。研究发现:碳交易试点政策有效降低了试点地区的碳排放强度,发挥了市场型环境规制的积极作用,而且碳交易机制通过影响能源消费量这一渠道遏制了碳排放强度的增长。通过调节效应模型发现,地区产业结构负向调节碳交易试点政策的降碳效应,而政府规模则正向调节碳交易试点政策的降碳效应。以上结论为进一步推动全国性碳交易市场稳健发展、发挥市场型环境规制的积极作用以及推进“双碳”目标实现提供了重要的经验证据。

知识产权助力专精特新企业创新发展——基于专利质押融资试点政策的准自然实验

对于轻资产、重研发的专精特新企业而言,如何开发保护和利用自主知识产权,是企业创新发展道路上需要深入探讨的课题。本文从理论和实证层面考察专利质押融资试点政策对城市专精特新企业创新发展的影响。研究发现:试点政策能够促进城市专精特新企业数量增长和创新质量提高,并在时间维度上呈现“倒U”型发展趋势;创新人才集聚、融资约束缓解和专利质量提升是试点政策推动专精特新企业创新发展的重要渠道;试点政策对城市行政等级较高、城市区位优势较好和民营企业的作用效果更强。因此,应持续推动专利质押融资政策,多渠道发力支撑高质量发展;充分考虑区域发展特征,制定差异化战略;完善知识产权管理体制,持续优化创新和营商环境。

政策效力到转型成效:地方政府低碳试点政策促进区域绿色转型的模式与路径——基于首批试点省份的多案例比较

随着生态文明理念与绿色低碳治理目标的深度融合,低碳试点政策的绿色转型成效逐渐显现,但具体到不同地方也表现出显著差异。以政策反馈理论和行动者网络理论为基础,构建“政策效力—行动网络—转型成效”分析框架,对首批低碳试点省份的实践案例进行经验总结和类型学研究。研究发现,资源效应下低碳政策的持续创新与完善,行动主体利益联结对良性互动合作的激励,以及减污降碳扩绿增长的有效协同是试点省份低碳政策促进区域绿色转型的共性经验,试点省份在政策效力、行动网络构建等方面的不同也导致了转型成效方面的差异。以核心主体、政府角色、政策压力和市场激励等核心驱动要素特征为标准,可以将地方政府低碳试点政策促进区域绿色转型的模式分为政府主导与市场激励相结合的双轮驱动型、政策压力下企业带动的源头控制型和政府主导与政策压力下的组织依赖型三种类型,且不同转型模式在应用情景、制约因素、关键问题上呈现出不同的适用特征。同时,各个模式在政策反馈的时效性、行动主体的参与度以及行动网络联结方式的创新性等方面还面临有待突破的现实瓶颈,可从具有普适特征的一般路径和特定情境下的特殊路径两个层面寻求因应之策。

Overview of Low-carbon Economy Research

The paper has a detailed literature review in low-carbon economy research of academic circle in our country from three aspects that are conception and connotation of low-carbon economy, necessity and urgency of developing low-carbon economy and path choice of realizing low-carbon economy in our country. low-carbon economy is the "green economy" that obtains the maximum output by discharging minimum greenhouse gases with the main characteristics of "three low and three high" that are low energy consumption, low pollution, low discharge and high effect, high efficiency, high benefit. To China, developing low-carbon economy is the inevitable choice in realizing peaceful rising and sustainable development as a responsible large country. It conforms to world trends and corresponds to China's actual conditions. Finally, the paper makes a overview of the path choice in realizing low-carbon economy in our country from eight aspects-integral countermeasures and suggestions, technology innovation, consumption pattern innovation, policy innovation, environmental and financial innovation, building low-carbon city, establishing carbon trading market and developing low-carbon agriculture.

Developing China's National Emission Trading Scheme:Experiences from Existing Global Schemes and China's Pilot Programs

Market-based emission trading schemes(ETSs) are widely used in the developed world to reduce greenhouse gas(GHG) emissions which are perceived as the source of global climate change. China, as the largest GHG emitter in the world, is committed to introducing an ETS to reduce emissions. Here we reviewed existing ETSs and sustainable energy policies worldwide as well as China's pilot programs. These studies were conducted in order to propose recommendations for national initiatives and strategies to be implemented in China in relation to climate change adaptation and mitigation. It has been shown that setting emission caps in the context of a national emission intensity target is difficult. However, implementing reliable systems for measurement, reporting, and verification of emissions are essential. A two-level management system(by central and provincial governments) for carbon trading is beneficial to ensure uniform standards and compliance while maintaining flexibility. Persistent political support from, and effective coordination of, policies by the government are crucial. In addition, strengthening of institutional innovation, and the establishment of a national GHG emissions information system, are of equal importance. This vital information could provide a great opportunity for China to re-define its economic growth and take global leadership in combatting climate change.

POLICIES

China to improve investment environment in 2015China will improve its investment environment in 2015,according to the Central Economic Work Conference concluded on Dec.11,2014.Market access in the service sector will be improved,and manufacturing sectors will be further opened up.Experiences of the China(Shanghai)Pilot Free Trade Zone(FTZ)will be popularized.Inbound overseas investment will

我国数字乡村试点的政策工具偏好及区域差异——基于全国72个试点县域的扎根分析

以数字技术赋能乡村建设是推动农业农村现代化转型的必然要求,也是实现乡村振兴、推动共同富裕的重要战略目标。自2020年中央一号文件首次提出数字乡村试点以来,全国各试点地积极推进数字乡村建设实践。已有研究或从乡村发展与变迁视角来阐释数字化建设对于乡村高质量发展的战略意义,或从数字治理视角呈现数字化驱动乡村治理的过程和机制,而较少关注“试点”政策本身,更缺乏政策工具的类型学归纳和分析。基于政策工具视角,研究对全国72个数字乡村试点县域的一、二手资料进行扎根分析,最终提炼出能力建设型、协同治理型和创新激励型三类政策工具,并在此基础上构建数字乡村建设的“价值实践张力—动力机制—政策工具选择—政策目标实现”分析框架。研究表明,以政府主导为依托的能力建设型工具处于绝对优势地位,在此基础上叠加协同治理型与创新激励型两类政策工具,共同促进数字乡村建设的纵深发展。具体而言,东部沿海及部分中部地区因其自身物质基础较好,偏重多种政策工具的组合运用,西部及东北地区则更偏好能力建设型工具的运用。然而政策工具的选取并非一成不变,而是随着情境的变化由单一转向动态化与多样化。本研究可为数字乡村试点的深入推进提供工具借鉴,也可为相关部门的决策提供参考。

Oil and Gas Policies in the World’s Major Countries

Revolutionary adjustments were made to the global energy structure in 2017.For the first time,OPEC cooperated with non-OPEC countries to reach an agreement on production curtailment in order to stabilize the oil and gas market.On the one hand,host countries have introduced various fiscal and tax incentive policies to attract investment in the oil and gas industry;on the other,the lack of fiscal revenue has been made up for and the low-carbon environmental protection policy supported by imposing a value-added tax and environmental protection tax.Major consumers have introduced a timetable for the sales prohibition of fuel vehicles and supported the development of new energy vehicles with fiscal and taxation policies.However,from the perspective of the full life cycle,the promotion of electric vehicles is only conducive to partially improving the environment and is not the optimal choice for national energy structure optimization.Electric vehicles will have real significance for environmental protection only after clean electric power is solved.As such,implementing the sales prohibition of fuel vehicles with administrative power goes against market discipline.

“宽带中国”试点政策对企业绿色创新的影响——数字金融、数字化转型的中介效应

“宽带中国”试点是加强数字基础设施建设,以数字化推动企业绿色创新发展的重要途径。将“宽带中国”试点政策作为一项准自然实验,选取2011-2021年2 037家A股上市公司样本数据,运用多时点双重差分模型检验“宽带中国”试点政策对企业绿色创新的影响。研究发现:①“宽带中国”试点政策能够显著促进企业绿色创新,经过平行趋势检验、PSM-DID检验等一系列稳健性检验后结论依然成立;②“宽带中国”试点政策对企业绿色创新的影响具有所有权、行业和城市环境规制水平异质性,试点政策对国有企业、重污染行业以及低环境规制城市企业的促进作用更显著;③机制检验表明,“宽带中国”试点政策主要通过提高城市数字金融水平和推动企业数字化转型两条路径促进企业绿色创新,具体表现为提高城市数字金融使用深度和覆盖广度以及增强企业数字化转型关注度和资源投入,与企业数字化转型相比,城市数字金融所发挥的中介效应更显著;④进一步分析表明,“宽带中国”试点政策溢出效应明显,具体表现为上市公司总部对子公司绿色创新以及对邻近城市企业绿色创新的空间溢出效应。研究结论有助于丰富企业绿色创新影响因素研究,并为全面理解“宽带中国”试点政策赋能机理以及新一代信息基础设施建设提供参考。