Research on the emission reduction effects of carbon trading mechanism on power industry: plant-level evidence from China

IF 3.5 3区社会学 Q2 ENVIRONMENTAL STUDIES

International Journal of Climate Change Strategies and Management Pub Date : 2022-09-21 DOI:10.1108/ijccsm-06-2022-0074

Yonghui Han, Shuting Tan, Chaowei Zhu, Yang Liu

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引用次数: 46

Abstract

Purpose Carbon trading mechanism has been adopted to foster the green transformation of the economy on a global scale, but its effectiveness for the power industry remains controversial. Given that energy-related greenhouse gas emissions account for most of all anthropogenic emissions, this paper aims to evaluate the effectiveness of this trading mechanism at the plant level to support relevant decision-making and mechanism design. Design/methodology/approach This paper constructs a novel spatiotemporal data set by matching satellite-based high-resolution (1 × 1 km) CO2 and PM2.5 emission data with accurate geolocation of power plants. It then applies a difference-in-differences model to analyse the impact of carbon trading mechanism on emission reduction for the power industry in China from 2007 to 2016. Findings Results suggest that the carbon trading mechanism induces 2.7% of CO2 emission reduction and 6.7% of PM2.5 emission reduction in power plants in pilot areas on average. However, the reduction effect is significant only in coal-fired power plants but not in gas-fired power plants. Besides, the reduction effect is significant for power plants operated with different technologies and is more pronounced for those with outdated production technology, indicating the strong potential for green development of backward power plants. The reduction effect is also more intense for power plants without affiliation relationships than those affiliated with particular manufacturers. Originality/value This paper identifies the causal relationship between the carbon trading mechanism and emission reduction in the power industry by providing an innovative methodology for identifying plant-level emissions based on high-resolution satellite data, which has been practically absent in previous studies. It serves as a reference for stakeholders involved in detailed policy formulation and execution, including policymakers, power plant managers and green investors.

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碳交易机制对电力行业的减排效应研究——来自中国的工厂级证据

目的碳交易机制已被采用来促进全球经济的绿色转型，但其对电力行业的有效性仍存在争议。鉴于与能源相关的温室气体排放占所有人为排放的大部分，本文旨在评估这种贸易机制在工厂层面的有效性，以支持相关决策和机制设计。设计/方法论/方法本文通过匹配基于卫星的高分辨率（1 × 1. km）CO2和PM2.5排放数据以及发电厂的准确地理位置。然后应用差异模型分析了2007-2016年碳交易机制对中国电力行业减排的影响。研究结果表明，碳交易机制平均导致试点地区发电厂二氧化碳减排2.7%，PM2.5减排6.7%。然而，减排效果仅在燃煤发电厂显著，而在燃气发电厂不显著。此外，不同技术运行的发电厂的减排效果显著，生产技术落后的发电厂更为明显，表明落后发电厂的绿色发展潜力巨大。与特定制造商有关联的发电厂相比，没有关联关系的发电厂的减排效果也更为强烈。原创性/价值本文通过提供一种基于高分辨率卫星数据识别工厂级排放的创新方法，确定了电力行业碳交易机制与减排之间的因果关系，而这在以前的研究中几乎是缺失的。它是参与详细政策制定和执行的利益相关者的参考，包括政策制定者、发电厂管理者和绿色投资者。

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

International Journal of Climate Change Strategies and Management ENVIRONMENTAL STUDIES-

CiteScore

8.10

自引率

8.30%

发文量

审稿时长

15 weeks

期刊介绍： Effective from volume 10 (2018), International Journal of Climate Change Strategies and Management is an open access journal. In the history of science there have been only a few issues which have mobilized the attention of scientists and policy-makers alike as the issue of climate change currently does. International Journal of Climate Change Strategies and Management is an international forum that addresses the need for disseminating scholarly research, projects and other initiatives aimed to facilitate a better understanding of the subject matter of climate change. The journal publishes papers dealing with policy-making on climate change, and methodological approaches to cope with the problems deriving from climate change. It disseminates experiences from projects and case studies where due consideration to environmental, economic, social and political aspects is given and especially the links and leverages that can be attained by this holistic approach. It regards climate change under the perspective of its wider implications: for economic growth, water and food security, and for people''s survival – especially those living in the poorest communities in developing countries.