China's efforts towards carbon neutrality: Does energy-saving and emission-reduction policy mitigate carbon emissions?

Xu, Tao; Kang, Chenyi; Zhang, Hua

doi:10.1016/j.jenvman.2022.115286

Cited by 93 publications

(37 citation statements)

References 72 publications

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“…Regarding the CETP policy, China approved six provinces and one city (i.e., Beijing, Tianjin, Shanghai, Chongqing, Hubei, Guangdong, and Shenzhen) to launch a pilot scheme on October 29, 2011. Specifically, Shenzhen was the first to start trading on June 18, 2013, and the national trading market was carried out at the end of 2017 (Xu et al 2022 ).…”

Section: Resultsmentioning

confidence: 99%

“…Therefore, this study followed Xu et al ( 2022 ) and Zhou et al ( 2020 ), trying to exclude the impacts of similar policies by constructing two dummy variables, i.e., one to indicate whether the city is a low-carbon pilot area, and the other indicating whether the city is the CETP area. Based on the baseline model, Table 5 shows Model (1) controls for the LCCP policy, Model (2) controls for the CETP policy, and Model (3) controls for both the LCCP policy and the CETP policy.…”

Section: Resultsmentioning

confidence: 99%

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Can green finance promote urban green development? Evidence from green finance reform and innovation pilot zone in China

Zhang

Wang

et al. 2022

Environ Sci Pollut Res

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This study aims to evaluate the effect of the green finance reform and innovation pilot zone (GFPZ) policy on urban green development. Based on city-level panel data in China from 2012 to 2019, a difference-in-differences model was employed to examine the effects of China’s GFPZ policy on the city’s green total factor productivity (GTFP). Results show that (1) the GFPZ policy has promoted the GTFP of pilot cities, a conclusion that still holds after performing multiple robustness tests. (2) Compared to non-pilot cities, the GFPZ policy can increase urban GTFP by promoting urban green innovation and reducing urban energy intensity. (3) The GFPZ policy had a more significant impact on mega cities and resource-based cities than on medium and big-sized cities and non-resource-based cities. This study provides new empirical evidence on how green finance influences urban green development and offers China’s experience to policymakers worldwide to develop green finance in top-level policy design and practice.

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Section: Resultsmentioning

confidence: 99%

Section: Resultsmentioning

confidence: 99%

Can green finance promote urban green development? Evidence from green finance reform and innovation pilot zone in China

Zhang

Wang

et al. 2022

Environ Sci Pollut Res

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“…Research shows that carbon trading can significantly improve performance. Xu et al [ 11 ] collected panel data related to carbon emissions in 284 cities in China from 2003 to 2019, based on the difference-in-difference(DID) framework, and evaluated the energy-saving and emission-reduction(ESER) policies through data such as the logarithm of carbon emissions per capita. The research confirms that the carbon reduction effect of ESER policies could be achieved by promoting energy saving, optimizing structure, and strengthening green technology, which also reflects China’s efforts to deploy PCECN policy.…”

Section: Literature Reviewmentioning

confidence: 99%

A Document Analysis of Peak Carbon Emissions and Carbon Neutrality Policies Based on a PMC Index Model in China

Wang

Chen

et al. 2022

IJERPH

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With the commitment to peaking carbon emissions by 2030 and achieving carbon neutrality by 2060, the text analysis of policies related to peak carbon emissions and carbon neutrality has become a hot research topic in China. However, current domestic and foreign research mainly focuses on the impact and enlightenment of carbon emission measurement and other aspects and rarely optimizes the road to carbon neutrality through the analysis of policy texts. Based on both domestic and international research results, this paper takes 11 central government, ministry, province, and city policies as the research object, uses the PMC index model to calculate the PMC indices of the 11 representative documents, and draws surfaces. The results indicate that nearly half of the policies have excellent scores, but some policies still have deficiencies in terms of guarantee incentives and policy coverage. Given these shortcomings, this paper proposes that the government should provide technical assistance to industrial enterprises in addition to certain subsidies to reduce the energy consumption of enterprises in production and achieve sustainable development. While popularizing and developing low-carbon technology, enterprises should pay attention to personnel training and management, and use the digital economy to empower the transition to eco-friendly production. Based on the above research, the main contributions of this paper are as follows: to make theoretical and practical preparations for carbon neutralization and to provide suggestions for optimizing policies.

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“…Since then, scholars have developed a rich verification around the Porter hypothesis (Gray and Shadbegian, 2003;Wagner, 2005;Hamamoto, 2006;Kneller and Manderson, 2012;Bergek and Berggren, 2014;Wang and Liu, 2014). Currently, a growing literature supports the Porter hypothesis and suggests that technological innovation is the key to improving energy efficiency, environmental protection and green development (Chakraborty and Chatterjee, 2017;Xu and Cui, 2020;Xu et al, 2022). However, financial bottlenecks are a major obstacle to green technology innovation in enterprises.…”

Section: Introductionmentioning

confidence: 99%

“…In the 1990s, Porter and Linde (1995) argued that from a dynamic point of view, environmental regulations can stimulate technological and organizational innovation and promote rational allocation of production resources, thus generating an “innovation compensation effect” that can compensate for the cost of regulations, which is known as the “Porter hypothesis.” Since then, scholars have developed a rich verification around the Porter hypothesis ( Gray and Shadbegian, 2003 ; Wagner, 2005 ; Hamamoto, 2006 ; Kneller and Manderson, 2012 ; Bergek and Berggren, 2014 ; Wang and Liu, 2014 ). Currently, a growing literature supports the Porter hypothesis and suggests that technological innovation is the key to improving energy efficiency, environmental protection and green development ( Chakraborty and Chatterjee, 2017 ; Xu and Cui, 2020 ; Xu et al, 2022 ). However, financial bottlenecks are a major obstacle to green technology innovation in enterprises.…”

Section: Introductionmentioning

confidence: 99%

Energy saving and emission reduction fiscal policy and corporate green technology innovation

2022

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With the increasing prominence of resource and environmental issues, countries around the world are paying more and more attention to the concept of sustainable development. Under this concept, China started to implement a pilot project of “National Comprehensive Demonstration City of Energy Saving and Emission Reduction Fiscal Policy” in 2011 to protect resources and environment through green and low-carbon development. This paper aims to investigate whether and how the pilot policy induces corporate green technology innovation. Based on the data on Chinese listed firms from 2008 to 2019 and the relevant theories of economics, management and organizational psychology, we find that the pilot policy can promote corporate green technology innovation. This indicates that the pilot policy, as an external force, will encourage firms to improve their adaptability through green technology innovation which is one type of organizational change, thus improving their organizational effectiveness. The heterogeneity analyses reveal that the promotion effect of the pilot policy on green innovation is stronger among firms in high-carbon industries, firms in the mature stage and firms that are not state-owned. The mechanism tests find that the credit allocation effect and innovation compensation effect generated by the pilot policy are the key channels to promote green technology innovation. In addition to enriching the research on the evaluation of the effects of the pilot policy, our paper also expands the literature on organizational psychology and organizational change from the perspective of corporate green innovation, offers practical implications for the low-carbon transition of manufacturing industries under the emission peak and carbon neutrality targets, and provides insights for other emerging economies to achieve better resource and environmental protection through the energy saving and emission reduction fiscal policy.

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China's efforts towards carbon neutrality: Does energy-saving and emission-reduction policy mitigate carbon emissions?

Cited by 93 publications

References 72 publications

Can green finance promote urban green development? Evidence from green finance reform and innovation pilot zone in China

Can green finance promote urban green development? Evidence from green finance reform and innovation pilot zone in China

A Document Analysis of Peak Carbon Emissions and Carbon Neutrality Policies Based on a PMC Index Model in China

Energy saving and emission reduction fiscal policy and corporate green technology innovation

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