Curse to blessing: The carbon emissions trading system and resource-based cities' carbon mitigation

IF 9.3 2区经济学 Q1 ECONOMICS

Energy Policy Pub Date : 2023-09-06 DOI:10.1016/j.enpol.2023.113796

Jianxian Wu , Xin Nie , Han Wang

{"title":"Curse to blessing: The carbon emissions trading system and resource-based cities' carbon mitigation","authors":"Jianxian Wu , Xin Nie , Han Wang","doi":"10.1016/j.enpol.2023.113796","DOIUrl":null,"url":null,"abstract":"<div><p>Does market-incentivized energy policy encourage low-carbon growth in resource-based cities (RBCs)? How to turn the resource curse<span> and the carbon curse into blessings depends on the answer to this question. Using panel data from 122 Chinese RBCs, we assess the policy effect of the carbon emissions trading system (CETS) through staggered difference-in-differences. The CETS effectively reduces carbon emissions in RBCs, and the policy effect is more pronounced in the short term. Mechanism analysis demonstrates that the CETS optimizes industrial and energy consumption structures, promotes technological progress, and enhances government and public environmental concerns. The heterogeneity analysis reveals that the CETS is more effective at reducing carbon emissions in mature RBCs than in declining RBCs, which stems from the fact that public concern is ineffective in the latter. The nonlinear relationship finds the existence of inverted U- and M-shaped evolutionary characteristics of the low-carbon transition in RBCs. Our findings highlight the carbon market’s vital role in RBCs' low-carbon transformation.</span></p></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"183 ","pages":"Article 113796"},"PeriodicalIF":9.3000,"publicationDate":"2023-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"5","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Energy Policy","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0301421523003816","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}

引用次数: 5

Abstract

Does market-incentivized energy policy encourage low-carbon growth in resource-based cities (RBCs)? How to turn the resource curse and the carbon curse into blessings depends on the answer to this question. Using panel data from 122 Chinese RBCs, we assess the policy effect of the carbon emissions trading system (CETS) through staggered difference-in-differences. The CETS effectively reduces carbon emissions in RBCs, and the policy effect is more pronounced in the short term. Mechanism analysis demonstrates that the CETS optimizes industrial and energy consumption structures, promotes technological progress, and enhances government and public environmental concerns. The heterogeneity analysis reveals that the CETS is more effective at reducing carbon emissions in mature RBCs than in declining RBCs, which stems from the fact that public concern is ineffective in the latter. The nonlinear relationship finds the existence of inverted U- and M-shaped evolutionary characteristics of the low-carbon transition in RBCs. Our findings highlight the carbon market’s vital role in RBCs' low-carbon transformation.

查看原文本刊更多论文

祸转福:碳排放权交易制度与资源型城市碳减排

市场激励的能源政策是否鼓励资源型城市的低碳增长？如何将资源诅咒和碳诅咒转化为祝福取决于这个问题的答案。利用来自122个中国RBC的面板数据，我们通过交错差异来评估碳排放交易系统（CETS）的政策效果。CETS有效降低了RBCs的碳排放，短期内政策效果更加明显。机制分析表明，CETS优化了工业和能源消费结构，促进了技术进步，增强了政府和公众对环境的关注。异质性分析表明，CETS在减少成熟RBCs的碳排放方面比在下降RBCs更有效，这源于公众对后者的关注是无效的。非线性关系发现RBCs中存在低碳转型的倒U型和M型进化特征。我们的研究结果强调了碳市场在RBCs低碳转型中的重要作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Energy Policy 管理科学-环境科学

CiteScore

17.30

自引率

5.60%

发文量

540

审稿时长

7.9 months

期刊介绍： Energy policy is the manner in which a given entity (often governmental) has decided to address issues of energy development including energy conversion, distribution and use as well as reduction of greenhouse gas emissions in order to contribute to climate change mitigation. The attributes of energy policy may include legislation, international treaties, incentives to investment, guidelines for energy conservation, taxation and other public policy techniques. Energy policy is closely related to climate change policy because totalled worldwide the energy sector emits more greenhouse gas than other sectors.