Technology-enabled business model innovation and carbon emission reduction: Evidence from a place-based policy in China

Technology-enabled business model innovations (BMIs) are gaining increasing attention. However, the effects of technology-enabled BMIs on sustainable development have not been fully investigated. Using the implementation of the National Big Data Comprehensive Pilot Zone (NBDCPZ) policy as a quasi-experiment, this paper analyzes the impact of technology-enabled BMIs on the carbon emissions in China. Our results indicate that the NBDCPZ policy significantly increases technology-enabled BMIs and reduces carbon emissions. These results remain consistent after conducting a series of robustness tests. Furthermore, we find that the reduction in carbon emissions is greater in western and northeastern cities or cities with stricter environmental regulations, ample higher education resources, or less reliance on natural resources. An analysis of the mechanisms indicates that the NBDCPZ policy improves energy structure and efficiency, further reducing carbon emissions. This study suggests that companies should be encouraged to adopt technology-enabled BMIs to promote low-carbon development.