Are people willing to pay for carbon neutrality? A survey from urban residents in Zhejiang, China

Abstract

Consumer responsibility is an important theoretical perspective for realizing China's “carbon neutrality” policy goals. A theoretical model was developed based on the value-belief-norm perspective and the theory of planned behavior to estimate urban residents' willingness to pay (WTP) for carbon neutrality. Based on the contingent valuation method, a single-bounded dichotomous choice elicitation format was used in the questionnaire survey, and 2040 samples of urban family households in Zhejiang Province were randomly sampled. Subsequently, a binary logistic regression model was employed to estimate the carbon offsetting WTP among urban households, and the influencing factors were analyzed. The study revealed that urban households in Zhejiang Province were willing to pay $11.23 per month and household to achieve carbon neutrality, and the respondents' WTP for carbon offsetting was significantly affected by ascription of responsibility, subjective norms, age, income, and occupation. However, environmental values, attitudes, personal norms, an awareness of consequences, and education level did not significantly affect the respondents' WTP. Finally, this study provides supporting data and policy suggestions for the formulation of more effective and reliable carbon offsetting standards and the realization of carbon neutrality goals in China.