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Air quality, especially haze pollution, has become an important issue that threatens the sustainable development and health of human beings. To study and formulate effective environmental regulations to control and reduce the concentration of PM 2.5 in the air, especially to clarify the effect of the relevant emission trading system on the emission reduction of air pollutants is a research topic with important practical signi cance and theoretical value. Previous studies on the environmental effects of emissions trading system (ETS) generally focused on carbon emission and their intensity, instead of focusing on the synergistic governance effects between ETS and PM 2.5 . Based on the PSM-DID method, this paper selects PM 2.5 damage and other related data from 147 countries in the World Development Index (WDI) database. This paper examined whether the EU ETS has a spillover effect on PM 2.5 damage reduction, and further discussed the related impact mechanisms and approaches. The research results show that the EU ETS has promoted the reduction of PM 2.5 damage, and at different stages of implementation, the impact of the EU ETS on the reduction of PM 2.5 damage has a dynamic effect. After discussion, it is found that ETS mainly affects PM 2.5 emission reduction through two channels: pollution industry transfer, industrial structure upgrading and green technology innovation. Finally, this paper gives relevant policy suggestions, which can encourage companies to achieve carbon emission reduction targets while helping to reduce PM 2.5 emissions, and eventually achieve a win-win situation between economic growth and environmental improvement.

No abstract

Air quality, especially haze pollution, has become an important issue that threatens the sustainable development and health of human beings. To study and formulate effective environmental regulations to control and reduce the concentration of PM2.5 in the air, especially to clarify the effect of the relevant emission trading system on the emission reduction of air pollutants is a research topic with important practical significance and theoretical value. Previous studies on the environmental effects of emissions trading system (ETS) generally focused on carbon emission and their intensity, instead of focusing on the synergistic governance effects between ETS and PM2.5. Based on the PSM-DID method, this paper selects PM2.5 damage and other related data from 147 countries in the World Development Index (WDI) database. This paper examined whether the EU ETS has a spillover effect on PM2.5 damage reduction, and further discussed the related impact mechanisms and approaches. The research results show that the EU ETS has promoted the reduction of PM2.5 damage, and at different stages of implementation, the impact of the EU ETS on the reduction of PM2.5 damage has a dynamic effect. After discussion, it is found that ETS mainly affects PM2.5 emission reduction through two channels: pollution industry transfer, industrial structure upgrading and green technology innovation. Finally, this paper gives relevant policy suggestions, which can encourage companies to achieve carbon emission reduction targets while helping to reduce PM2.5 emissions, and eventually achieve a win-win situation between economic growth and environmental improvement.