Where will corporate capital flow to? Revisiting the impact of China's pilot carbon emission trading system on investment

Qi, Yong; Yuan, Mingsheng; Bai, Tingting

doi:10.1016/j.jenvman.2023.117671

Cited by 15 publications

(7 citation statements)

References 35 publications

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“…Meanwhile, as a market-oriented environmental regulation tool, its corresponding economic effects and social welfare have also received attention and examination. A few studies have demonstrated that the CETS can improve the investment efficiency of enterprises 37 and the allocation efficiency of capital 38 , and enhance the economic benefits of township enterprises in pilot cities 39 . It has also been found that the CETS will show a negative impact on the overall economy, but it will be gradually eliminated in the long term 40 , and the CETS can partially compensate for the loss of GDP caused by carbon emission reduction 41 .…”

Section: Literature Review and Research Hypothesesmentioning

confidence: 99%

Practical effects of carbon emissions trading system on energy efficiency

Li,

Cao,

Zhang

et al. 2024

Sci Rep

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The carbon emissions trading system (CETS) is a helpful policy instrument for separating carbon emissions from economic expansion, and it significantly impacts energy efficiency (EE). This study uses 30 Chinese provinces from 2007 to 2020 as its research samples, and classifies energy efficiency into single-factor energy efficiency (SFE) and total-factor energy efficiency (TFE), using the difference-in-differences model to examine the effect and mechanism of the CETS on EE. As an additional tool to assess the efficacy of the CETS, the corresponding evolution of the rebound effect of energy-related carbon emissions (RECE) is also calculated. This study shows that the CETS can significantly improve EE in China's pilot provinces. The influence mechanism indicates that the effect of the CETS on EE is influenced by the level of government governance, green innovation, and industrial structure optimization. Further study finds that after the CETS was carried out, the RECE in pilot provinces was higher than that in non-pilot provinces, and 31.4% of carbon emissions reduced by EE improvement rebounded. Therefore, the CETS has yet to realize its full carbon reduction potential. The study offers specific policy proposals for the enhancement of China's CETS in light of the aforementioned findings.

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Section: Literature Review and Research Hypothesesmentioning

confidence: 99%

Practical effects of carbon emissions trading system on energy efficiency

Li,

Cao,

Zhang

et al. 2024

Sci Rep

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“…Then we will not be able to distinguish whether the improvement of agricultural development quality in pilot cities comes from the effect of E-commerce or other policies and measures related to high-quality economic development. So we have taken the national low-carbon pilot cities [ 57 ], carbon emission trading pilot cities [ 58 ], innovative city pilot cities [ 59 ], high-speed rail opening [ 60 ], and other policies and measures that have been proven to have a significant positive impact on economic quality as disruptive policies. In regression Eq (1) , dummy variables representing these policies are added respectively to examine the changes in the impact of E-commerce development on high-quality agricultural development after controlling the impact of different disruptive policies.…”

Section: An Empirical Test Of the Impact Of E-commerce Development On...mentioning

confidence: 99%

“…In addition, the difference between the experimental group and the control group in the quality of urban agricultural development can also be derived from other unpredictable factors that over time, and the potential missing variables will also lead to inconsistent estimation results. Considering the possible impact of selective and missed variable bias on the estimation results, this study further uses the PSM-DID method [ 3 , 58 ] and instrumental variable method [ 61 ] to make robust estimations. The specific estimation results are shown in Table 6 .…”

Section: An Empirical Test Of the Impact Of E-commerce Development On...mentioning

confidence: 99%

Can E-commerce development policies promote the high-quality development of agriculture?—A quasi-natural experiment based on a China’s E-commerce demonstration city

Zhong,

Guo,

Wang

et al. 2024

PLoS ONE

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As a new business model, E-commerce brings new changes to the global economy and society. So, can E-commerce development policies promote high-quality agricultural development? This article regards the pilot construction of national e-commerce demonstration cities as a quasi-natural experiment for the development of e-commerce. Based on the E-commerce pilot and economic and social development data of national prefecture-level cities from 2004 to 2018, the agricultural total factor productivity calculated by the Fare-Primont index method is used as the characterization of the quality of urban agricultural development, and an empirical model is constructed under the progressive Differences-in-Differences framework. This paper empirically tests the overall impact of E-commerce development on the high-quality development of agriculture and its sources, analyzes the heterogeneity and dynamics of the impact, and investigates the possible impact mechanism. The result shows that from the overall impact and its sources, the development of E-commerce in cities has a positive impact on the high-quality development of agriculture, and the impact is mainly due to its role in promoting technological innovation and economies of scale. From the perspective of heterogeneity, the larger the population size of a city, the more significant the level of e-conomic development or Internet development. From the perspective of the dynamic impact, the positive impact of e-commerce development becomes more significant over time. With the passage of time, the impact of E-commerce on high-quality agricultural development policies shows a trend of first increasing and then decreasing. Overall, this study provides empirical evidence for the rationality and effectiveness of policies and measures related to E-commerce to promote the high-quality development of agriculture.

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“…Greenhouse gases (GHGs) trap the heat and make the planet warmer. 1 Human activities have been almost responsible for the increase of GHGs in the atmosphere during the last 150 years. 2 Figure 1 shows the amount of CO 2 emission change by separating each part of human activities.…”

Section: Introductionmentioning

confidence: 99%

“…Greenhouse gases (GHGs) trap the heat and make the planet warmer 1 . Human activities have been almost responsible for the increase of GHGs in the atmosphere during the last 150 years 2 .…”

Section: Introductionmentioning

confidence: 99%

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

Parhamfar,

Sadeghkhani,

Adeli

2024

Energy Science & Engineering

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The increasing trend of energy generation and management systems towards decentralized structures such as using renewable energy resources makes it necessary to use digital and smart platforms for exchanging information and even conducting financial transactions in a decentralized manner, known as the peer‐to‐peer model. The decentralized transaction verification of cryptocurrencies makes it possible to use these encrypted currencies and decentralized blockchain networks in energy management systems and carry out financial transactions related to carbon trading. Carbon and other greenhouse gas (GHG) emission trading systems reduce the competitiveness of fossil fuel projects in the market and accelerate investment in low‐carbon energy sources such as wind and photovoltaic power generation units. This market mechanism allows large entities such as countries and companies that emit GHGs into the atmosphere to buy and sell these gases. This paper reviews the blockchain solutions developed for carbon markets. Studies related to the design of smart contracts in the platform of blockchain are investigated. Special cryptocurrencies that are used in the field of green energy transactions and carbon trading are introduced. In addition, the application of artificial intelligence and game theory in energy trading is stated. The study of different blockchain frameworks for carbon trading shows that the use of decentralized platforms in carbon trading can have a significant impact on the trend towards low‐carbon measures and achieving the goals of the Kyoto Treaty, increasing the value of green cryptocurrencies and the volume of transactions. These technologies offer a promising avenue for creating a more decentralized, efficient, and environmentally conscious energy ecosystem.

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Where will corporate capital flow to? Revisiting the impact of China's pilot carbon emission trading system on investment

Cited by 15 publications

References 35 publications

Practical effects of carbon emissions trading system on energy efficiency

Practical effects of carbon emissions trading system on energy efficiency

Can E-commerce development policies promote the high-quality development of agriculture?—A quasi-natural experiment based on a China’s E-commerce demonstration city

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

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