Automobile Industry under China’s Carbon Peaking and Carbon Neutrality Goals: Challenges, Opportunities, and Coping Strategies

China has already committed to peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060 (referred to as the 30·60 Target), which has brought both daunting challenges and great opportunities to the automobile industry in China. However, there is still a lack of comprehensive and in-depth studies on the challenges, paths, and strategies for reducing carbon emissions to fulfill the 30·60 Target in automobile industries. Therefore, this paper proposes low-carbon development strategies for China’s automobile industry. This study’s method is to integrate the results from different literature to summarize the status, challenges, opportunities, and refine the coping strategies for carbon emission of the automobile industry. The results indicated that the paths for achieving the 30·60 Target include joint carbon emission reduction by upstream and downstream enterprises inside the industry. It also needs cross-industry and cross-sector coordinated decarbonization outside the industry. Meanwhile, the low-carbon policy and regulation system should be established to provide a direct driving force and fundamental guarantee for the low-carbon development of China’s automobile industry.

Integrated Carbon Policy Design for Achieving Net-Zero Targets

Several countries have set net-zero targets, and many more will announce in the next few years. Countries have used carbon pricing as an instrument to cut Greenhouse Gas (GHG) emissions and provide a price signal to attract private investments to achieve net-zero targets. However, current carbon policy in countries with net-zero targets remains inadequate and asymmetrical to overcome net-zero challenges; there are visible gaps in the carbon price level, sectoral coverage, and mechanism to reward carbon-neutral initiatives. This paper proposed an integrated carbon policy design covering economic, technical, and social dimensions and discussed how an integrated policy design approach could be effective in helping countries achieve net-zero objectives. The paper makes recommendations for net-zero policymakers. First, a stable and appropriate carbon price must be in place to attract private investments in carbon offset measures and commercialize clean technologies. Second, governments should use an effective revenue recycling mechanism to engage firms and citizens in mitigating the side effects of the carbon price regime and win their trust. Third, countries should promote behavioral changes and carbon footprint reduction measures through citizen participation. 

How Does the World View China’s Carbon Policy? A Sentiment Analysis on Twitter Data

China has recently put forth an ambitious plan to achieve carbon peak around 2030 and carbon neutrality around 2060. However, there are quite a few differences regarding the public views about China’s carbon policy between the Chinese people and the people from other countries, especially concerning the doubt of foreign people about the fidelity of China’s carbon policy goals. Based on Twitter data related to China’s carbon policy topics from 2008 to 2020, this study shows the inter- and intra-annual trends in the count of tweets about China’s carbon policy, conducts sentiment analysis, extracts top frequency words from different attitudes, and analyzes the impact of China’s official Twitter accounts on the global view of China’s carbon policy. Our results show: (1) the global attention to China’s carbon policy gradually rises and occasionally rises suddenly due to important carbon events; (2) the proportion of Twitter users with negative sentiment about China’s carbon policy has increased rapidly and has exceeded the proportion of Twitter users with positive sentiment since 2019; (3) people in developing countries hold more positive or neutral attitudes towards China’s carbon policy, while developed countries hold more negative attitudes; (4) China’s official Twitter accounts serve to improve the global views on China’s carbon policy.

Benefit Analysis of Low-Carbon Policy Mix Innovation Based on Consumer Perspective in Smart City

In the construction of smart city, the carbon emission reduction problem of road traffic needs to be solved urgently. It is of great significance to introduce reasonable low-carbon policies. Based on urban private cars trajectory data, this study, respectively, establishes the genetic algorithm-back propagation neural network model (GA-BP) and back propagation-adaptive boosting algorithm neural network model (BP-AdaBoost) to predict the carbon emissions of private cars. By comparing the two neural network models, the GA-BP neural network model has better prediction results. Next, this study establishes the cost-benefit model for consumers and compares consumers’ participation willingness, emission reduction effect, and social benefits of consumers from the perspective of six kinds of low-carbon policies. The results show that the overall effect of the low-carbon policy mix of free quota is better than that of paid quota. In addition, different low-carbon policy mixes innovations have different policy implementation effects under different indicators. Overall, the low-carbon policy mix of carbon trading and emission reduction subsidy is better in the short term, and the low-carbon policy mix of carbon tax and emission reduction subsidy is better in the long term.

Evaluation of China’s low-carbon city pilot policy: Evidence from 210 prefecture-level cities

As the largest carbon dioxide emitter, China is working towards the direction of a green economy. As an irreplaceable part of establishing a green economy, the low-carbon city pilot (LCCP) policy is implemented in many large cities in China, and the scope of implementation will be further expanded. However, to date, there has been an absence of empirical studies basing on prefecture-level cities about the evaluation of China’s LCCP policy. Evaluating and optimizing the LCCP policy is constructive to achieve the goal of China’s green economic transition. In this paper, we evaluated the effect of the LCCP policy on China’s low-carbon economic transition by using the difference-in-difference (DID) approach which can effectively alleviate endogenous problems and better evaluate this effect and the panel data of 210 prefecture-level cities in China from 2008 to 2016. The empirical analysis revealed that the LCCP policy inhibited China’s low-carbon economic transition in general. Specifically, the policy worked well in the eastern region but failed in the central region and western region by studying the regional heterogeneity and influence mechanism. The reason is that the LCCP policy can stimulate low-carbon innovation with the help of innovation offset effects in the eastern region, but it failed to do so in the central region and western region. In addition, this paper analyzed the performance of three types of policy tools adopted by local governments to implement the policy, we found that market-economic tools are valuable to improving the low-carbon economic transition in pilot areas, but command-mandatory tools and voluntary tools have failed to achieve the expected objectives. The research results of this article can provide policy recommendations for optimizing the low-carbon policy and provide a reference for countries that are determined to develop a green economy.

A Case Study of Green Energy Roofs in Taiwan Using Financial Analyses

As part of the low-carbon policy and development in Taiwan, the Bureau of Energy introduced the “Green Energy Roofs Project” in 2017, which encouraged homeowners to install green energy roofs. However, the incentives of homeowners and solar photovoltaic operators to participate in this Project were low. The aim of this study is to propose and evaluate alternative models for investing green energy roofs. The contributions of this study are that, first, we consider factors such as risk management schemes and crowdfunding that have not been considered in evaluating green energy roofs project. In addition, this study provides a solution to Taiwan government’s current dilemma about how to encourage homeowners to install green energy roofs. This study adopts five common investment appraisal methods (including payback period, discounted payback period, net present value, internal rate of return and profitability index) to evaluate four different models for investing green energy roofs. The results show that when homeowners are fully responsible for installation costs of green energy roofs with partial funds borrowed from banks and with consideration of risk management, the homeowners have better investment returns. Therefore, the Taiwan government could consider the alternative strategy proposed in this study for promoting green energy roofs so that the country can x`move a bigger step forward towards the goal of being nuclear-free.