“…Energy conservation and efficiency can be improved by carbon taxes based on these findings (Ojha et al, 2020). Reduced CO 2 emissions can be achieved through the use of carbon taxes (Zhu et al, 2020). When the level of GDP per capita is high (Yu, 2020), environmental taxes may have a positive impact on economic growth (An and Zhai, 2020).…”
Because of China’s global responsibilities to address climate change, the country has made a commitment to limiting the growth of future emissions using policy measures, such as funding mitigation research and regulating energy efficiency requirements directly. Extensions of these policies, such as the measures to improve energy efficiency, use of carbon taxes, and changes to the mix of electricity generation in the country, are also of interest to China. This article applied a computable general equilibrium (CGE) model to examine the effects of such energy efficiency and climate change policy options in the post-COVID-19 era in the China economy. The study findings show that even modest measures can have significant effects on emissions with marginal economic impacts, given the current level of development in the China electricity generation and transportation sectors. It is estimated that a 5 RMB per ton carbon tax will reduce emissions by 4.1% and GDP by 0.27%. Emissions drop by 8.2% and GDP drops by 0.54% when energy efficiency increases by 2% across the China economy, respectively. As a final result, a 5% shift away from burning coal would reduce emissions by 9.0%, while GDP would increase by 1.3%. It has been shown that even low carbon taxes can encourage a notable cleaner energy system.
“…Energy conservation and efficiency can be improved by carbon taxes based on these findings (Ojha et al, 2020). Reduced CO 2 emissions can be achieved through the use of carbon taxes (Zhu et al, 2020). When the level of GDP per capita is high (Yu, 2020), environmental taxes may have a positive impact on economic growth (An and Zhai, 2020).…”
Because of China’s global responsibilities to address climate change, the country has made a commitment to limiting the growth of future emissions using policy measures, such as funding mitigation research and regulating energy efficiency requirements directly. Extensions of these policies, such as the measures to improve energy efficiency, use of carbon taxes, and changes to the mix of electricity generation in the country, are also of interest to China. This article applied a computable general equilibrium (CGE) model to examine the effects of such energy efficiency and climate change policy options in the post-COVID-19 era in the China economy. The study findings show that even modest measures can have significant effects on emissions with marginal economic impacts, given the current level of development in the China electricity generation and transportation sectors. It is estimated that a 5 RMB per ton carbon tax will reduce emissions by 4.1% and GDP by 0.27%. Emissions drop by 8.2% and GDP drops by 0.54% when energy efficiency increases by 2% across the China economy, respectively. As a final result, a 5% shift away from burning coal would reduce emissions by 9.0%, while GDP would increase by 1.3%. It has been shown that even low carbon taxes can encourage a notable cleaner energy system.
“…In recent years, firms have been asked to disseminate information about climate change related activities, also referred to as carbon disclosures, to satisfy the concerns of relevant stakeholders (Li et al, Meng et al) [7,8]. Under the emission reduction pressures in the world, China should need to change the current high energy-consuming and high-pollution development model, accelerate the adjustment of economic structure, promote technological progress, and improve energy efficiency [9]. Although various countries have introduced various laws and regulations on carbon emissions and policies to encourage carbon emission reduction, and researchers have also realized the importance of carbon disclosure, there are still some people who question the authenticity of this information because of the inherent uncertainty between measurement of carbon emissions and carbon emissions reduction.…”
In the context of low-carbon constrained development, in order to avoid the risk brought by climate change, more and more companies choose to disclose carbon information, respond to the national policy of carbon emission reduction and focus on the sustainable development of enterprises. This paper will investigate the impact of carbon disclosure on financial performance based on the 2011–2018 CDP report, taking the Fortune 500 companies as a sample. The study finds that for carbon-intensive industries, carbon disclosure cannot significantly contribute to the improvement of financial performance in the current period, but for carbon-non-intensive industries, carbon disclosure can significantly contribute to the improvement of financial performance in the current period, and the positive impact of carbon disclosure on financial performance in the current period can be extended to the next period. Finally, based on the findings of the empirical study, this paper puts forward policy recommendations for the construction of China’s carbon disclosure system.
“…The influence of carbon tax on project status is also very significant. Currently, the carbon tax in United States is around 40 $/ton 42 . So, $100 544.8 can be saved annually.…”
Section: Case Studiesmentioning
confidence: 99%
“…Due to the growth in environmental pollution as a result of massive burning of fossil fuels, governments have implemented the carbon tax as a penalty cost on relevant industries. Currently, the estimated carbon tax in the United States is 40 $/ton 42 . In this study, the cost saved from carbon tax is also considered as a major benefit (scenario III).…”
Summary
Levelized cost of energy (LCOE) method is a frequently used approach to determine the economics of an energy project. However, the approach have faced a lot of criticism due to the lack of transparency in costing along with some additional drawbacks. Although the refinement of the LCOE method has led to its improvement, but there are still some concerns in the form of considerable benefits that may produce unreliable results. In order to provide the solution of drawbacks associated with LCOE method, this research work focuses on presenting an alternative costing approach. The adoption of benefit‐to‐cost ratio analysis (BCRA) method for the decision‐making of energy systems is proposed in this work. A comprehensive assessment between LCOE and BCRA methods was carried out with a purpose to observe their influence in determining the success or failure rate of an energy project by considering the associated benefits. For this purpose, two case studies were considered; Chena Geothermal Power Plant (Alaska, United States) and Quaid‐e‐Azam Solar Power Project (Bahawalpur, Pakistan). The assessment was carried out on the basis of different scenarios, which were developed according to the obtainable benefits from a particular project. The results show that, compared with the LCOE method, the BCRA method is more feasible and practical in energy project decision‐making process. Moreover, it was noticed that the BCRA method can provide better and useful insights to help maximize the economic benefits of the project.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.