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Faced with the dual pressure from global climate change and increasing air pollution, China has gradually clarified the adoption of market-based tools to improve the ecological environment. Based on Chinese provincial panel data from 2006 to 2020, this paper analyzes the synergistic governance effect and influence mechanism of China’s carbon emissions trading scheme (ETS) on pollution control and carbon emission reduction by using a multiperiod difference-in-differences (DID) model. The empirical results show that China’s ETS has achieved the synergistic governance effect of pollution control and carbon emission reduction. The heterogeneity analysis shows that ETS can significantly enhance the synergistic governance effect in areas with higher total factor productivity (TFP) and stronger administrative intervention. More importantly, the mechanism analysis shows that China’s ETS promotes the synergistic governance effect of pollution control and carbon emission reduction mainly through industrial structure upgrading and energy structure transformation. The effect contribution values are 22.42% and 9.40%, respectively. This study contributes to deepening the effect of the carbon emissions trading scheme and also provides a reference for the design of a unified carbon trading market in China.

Abstract:To mitigate global climatic changes, long-term carbon trading and carbon taxes have been implemented in many countries. However, carbon prices have varied in many of these regions. Therefore, the goal of this paper was to evaluate the effects of carbon prices on trade-offs between forest carbon and timber management objectives in spatial harvest scheduling problems. The objective function of the planning problem was designed to maximize the discounted net present value of harvested timber and the differences of carbon stocks in living tree biomass between the beginning and end of the planning horizon (DoC) within a 30-year time frame for a large forest region in northeast China. The constraints primarily related to maintaining an even flow of harvested timber and guaranteeing the maximum opening size. Forest developments were simulated using a set of standard stand-level growth and yield models, and the solutions of the planning problem were generated using the standard version of a simulated annealing algorithm. The effects of a wide range of carbon prices on the harvested timber and DoC levels were examined. The results showed that the trade-offs between forest harvested timber and the DoC displayed a typical nonlinear tendency as carbon prices increased. The current carbon prices (i.e., 25, 50 and 75 ¥/ton) in China had no significant effects on the optimal forest management plans compared with a scenario that used a carbon price of zero. The minimum carbon price that can provide the financial incentive for the forests to function as a significant carbon sink was estimated to be somewhat over 800 ¥/ton. This result could be useful in determining the appropriate carbon offset standard in this region.