Investigating the role of emissions trading system in reducing enterprise energy intensity: Evidence from China

IF 13.6 2区经济学 Q1 ECONOMICS

Energy Economics Pub Date : 2024-10-29 DOI:10.1016/j.eneco.2024.108005

Wei Shi , Yue-Jun Zhang , Jing-Yue Liu

引用次数: 0

Abstract

This paper provides retrospective enterprise-level evidence on the role of the emissions trading system (ETS) in reducing the energy intensity of China's high‑carbon enterprises. The empirical results indicate several key findings: First, in China's ETS pilot regions, the ETS has significantly reduced high‑carbon enterprises' energy intensity by 22.4 % during the sample period, which means ETS has indeed played an anticipated energy-saving effect in China. Second, the ETS has exerted a signal effect on high‑carbon enterprises outside the pilot regions, which suggests that the actual effectiveness of China's ETS may be higher than initially anticipated. Third, the energy-saving effect of China's ETS can be achieved through green technology innovation and digital transformation. Finally, the effect of China's ETS on energy intensity varies significantly by regional development, industry attributes, enterprise characteristics, and carbon market performance.

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排污权交易制度在降低企业能源强度中的作用研究：来自中国的证据

本文就排污权交易制度（ETS）在降低中国高碳企业能源强度方面的作用提供了企业层面的回顾性证据。实证结果表明了几个关键结论：首先，在中国的排放交易体系试点地区，排放交易体系在样本期内显著降低了高碳企业 22.4% 的能源强度，这意味着排放交易体系在中国确实发挥了预期的节能效果。其次，ETS 对试点地区以外的高碳企业产生了信号效应，这表明中国 ETS 的实际效果可能高于最初的预期。第三，中国 ETS 的节能效果可以通过绿色技术创新和数字化转型来实现。最后，中国 ETS 对能源强度的影响因地区发展、行业属性、企业特征和碳市场表现的不同而存在显著差异。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Energy Economics ECONOMICS-

CiteScore

18.60

自引率

12.50%

发文量

524

期刊介绍： Energy Economics is a field journal that focuses on energy economics and energy finance. It covers various themes including the exploitation, conversion, and use of energy, markets for energy commodities and derivatives, regulation and taxation, forecasting, environment and climate, international trade, development, and monetary policy. The journal welcomes contributions that utilize diverse methods such as experiments, surveys, econometrics, decomposition, simulation models, equilibrium models, optimization models, and analytical models. It publishes a combination of papers employing different methods to explore a wide range of topics. The journal's replication policy encourages the submission of replication studies, wherein researchers reproduce and extend the key results of original studies while explaining any differences. Energy Economics is indexed and abstracted in several databases including Environmental Abstracts, Fuel and Energy Abstracts, Social Sciences Citation Index, GEOBASE, Social & Behavioral Sciences, Journal of Economic Literature, INSPEC, and more.