scholarly journals The effectiveness of China’s regional carbon market pilots in reducing firm emissions

2021 ◽  
Vol 118 (52) ◽  
pp. e2109912118
Author(s):  
Jingbo Cui ◽  
Chunhua Wang ◽  
Junjie Zhang ◽  
Yang Zheng
Keyword(s):  
Negative Impact ◽  
Emission Trading ◽  
Economic Consequences ◽  
Public Utility ◽  
Climate Mitigation ◽  
Low Carbon ◽  
Emission Abatement ◽  
Regulated Firms ◽  
Allowance Trading ◽  
Carbon Prices

China has implemented an emission trading system (ETS) to reduce its ever-increasing greenhouse gas emissions while maintaining rapid economic growth. With low carbon prices and infrequent allowance trading, whether China’s ETS is an effective approach for climate mitigation has entered the center of the policy and research debate. Utilizing China’s regional ETS pilots as a quasi-natural experiment, we provide a comprehensive assessment of the effects of ETS on firm carbon emissions and economic outcomes by means of a matched difference-in-differences (DID) approach. The empirical analysis is based on a unique panel dataset of firm tax records in the manufacturing and public utility sectors during 2009 to 2015. We show unambiguous evidence that the regional ETS pilots are effective in reducing firm emissions, leading to a 16.7% reduction in total emissions and a 9.7% reduction in emission intensity. Regulated firms achieve emission abatement through conserving energy consumption and switching to low-carbon fuels. The economic consequences of the ETS are mixed. On one hand, the ETS has a negative impact on employment and capital input; on the other hand, the ETS incentivizes regulated firms to improve productivity. In the aggregate, the ETS does not exhibit statistically significant effects on output and export. We also find that the ETS displays notable heterogeneity across pilots. Mass-based allowance allocation rules, higher carbon prices, and active allowance trading contribute to more pronounced effects in emission abatement.

scholarly journals Carbon Pricing Induces Innovation: Evidence from China's Regional Carbon Market Pilots

2018 ◽  
Vol 108 ◽  
pp. 453-457 ◽  
Author(s):  
Jingbo Cui ◽  
Junjie Zhang ◽  
Yang Zheng
Keyword(s):  
Patent Application ◽  
Emission Trading ◽  
Carbon Price ◽  
Low Carbon ◽  
Firm Level ◽  
Listed Firms ◽  
Allowance Trading ◽  
Application Data ◽  
Trading Scheme ◽  
Low Carbon Technologies

China has launched seven regional pilots of emission trading scheme (ETS) to limit its carbon emissions. Taking advantage of the variations in the regional ETS pilots across regions and sectors and over time, we employ a difference-in-difference-indifferences (DDD) approach to evaluate the effect of ETS on low-carbon innovation at the firm level. Using patent application data of publicly-listed firms in China between 2003 and 2015, we find that the ETS pilots induced innovation in low-carbon technologies. The more active pilots—measured by carbon price and turnover rate of allowance trading—are associated with more intense low-carbon innovation.

scholarly journals Influencing factors of price fluctuation in China’s carbon market

2020 ◽  
Vol 218 ◽  
pp. 01044
Author(s):  
Qi Wei ◽  
Yuanyuan Bian ◽  
Xuejuan Yang
Keyword(s):  
Negative Impact ◽  
Positive Impact ◽  
Emission Trading ◽  
Carbon Price ◽  
Carbon Market ◽  
Coal Consumption ◽  
Factors Affecting ◽  
Price Signals ◽  
Carbon Emission Trading ◽  
Carbon Prices

Carbon emission trading is an important countermeasure for countries around the world to cope with the challenge of climate change. Price signals in the carbon market play an important stabilizing role. Therefore, research on the factors affecting carbon price fluctuations is of great significance. Based on this, an empirical study on the fluctuation factors of carbon price in China’s pilot carbon market showed that: gross industrial output, coal consumption and the number of extreme weather have a positive impact on carbon prices, while the technology innovation index has a negative impact on carbon prices. This article puts forward suggestions on the construction of the carbon market, stabilizes carbon prices, and promotes the development of China’s carbon market.

scholarly journals Supplier Selection and Order Allocation under a Carbon Emission Trading Scheme: A Case Study from China

2019 ◽  
Vol 17 (1) ◽  
pp. 111 ◽  
Author(s):  
Chen Wang ◽  
Qingyan Yang ◽  
Shufen Dai
Keyword(s):  
Supplier Selection ◽  
Carbon Emission ◽  
Emission Trading ◽  
Low Carbon ◽  
Order Allocation ◽  
Total Cost ◽  
Carbon Emission Trading ◽  
The Cost ◽  
The Impact ◽  
Carbon Prices

In implementing carbon emission trading schemes (ETSs), the cost of carbon embedded in raw materials further complicates supplier selection and order allocation. Firms have to make decisions by comprehensively considering the cost and the important intangible performance of suppliers. This paper uses an analytic network process–integer programming (ANP–IP) model based on a multiple-criteria decision-making (MCDM) approach to solve the above issues by first evaluating and then optimizing them. The carbon embedded in components, which can be used to reflect the carbon competitiveness of a supplier, is integrated into the ANP–IP model. In addition, an international large-scale electronic equipment manufacturer in China is used to validate the model. Different scenarios involving different carbon prices are designed to analyze whether China’s current ETS drives firms to choose more low-carbon suppliers. The results show that current carbon constraints are not stringent enough to drive firms to select low-carbon suppliers. A more stringent ETS with a higher carbon price could facilitate the creation of a low-carbon supply chain. The analysis of the firm’s total cost and of the total cost composition indicates that the impact of a more stringent ETS on the firm results mainly from indirect costs instead of direct costs. The indirect cost is caused by the suppliers’ transfer of part of the low-carbon investment in the product, and arises from buying carbon permits with high carbon prices. Implications revealed by the model analysis are discussed to provide guidance to suppliers regarding the balance between soft competitiveness and low-carbon production capability and to provide guidance to the firm on how to cooperate with suppliers to achieve a mutually beneficial situation.

scholarly journals Impact of Carbon Prices on Corporate Value: The Case of China’s Thermal Listed Enterprises

2018 ◽  
Vol 10 (9) ◽  
pp. 3328 ◽  
Author(s):  
Fang Zhang ◽  
Hong Fang ◽  
Xu Wang
Keyword(s):  
Negative Impact ◽  
Emission Trading ◽  
Carbon Trading ◽  
Corporate Value ◽  
Stock Value ◽  
Reduce Emissions ◽  
Trading Scheme ◽  
The Impact ◽  
The Relationship ◽  
Carbon Prices

The emission trading scheme (ETS) has become a significant tool to solve the climate change problem. China has built domestic carbon trading pilots to control energy consumption and reduce emissions. This paper explores the linkage between the carbon market and covered corporate value in China. To address the relationship, this paper estimates the impact that the carbon prices of different pilots in China have on the value of thermal listed enterprises and the extent of this impact. By using weekly data from July 2014 to June 2017, we analyze the overall effect and perform a comparative study of influences of the three trading years. Moreover, we test if the effect of carbon trading pilots on electricity corporate value is market-specific. The results demonstrate that carbon prices have a significantly negative impact on stock value when looking at the full sample and the effects vary between markets.

scholarly journals New Circular Challenges in the Development of Take-Away Food Packaging in the COVID-19 Period

Energies ◽  
2021 ◽  
Vol 14 (15) ◽  
pp. 4705
Author(s):  
Ewa Kochańska ◽  
Rafał M. Łukasik ◽  
Maciej Dzikuć
Keyword(s):  
Social Transformation ◽  
Food Packaging ◽  
New Technologies ◽  
Negative Impact ◽  
Raw Materials ◽  
Distribution Channels ◽  
Low Carbon ◽  
Industrial Transformation ◽  
Specific Distribution ◽  
Food Market

The COVID-19 pandemic has set new challenges for the HoReCa industry. Lockdowns have coincided with and strongly impacted the industrial transformation processes that have been taking place for a decade. Among the most important HoReCa transition processes are those related to the rapid growth of the delivery-food market and ordering meals via internet platforms. The new delivery-food market requires not only the development of specific distribution channels, but also the introduction of appropriate, very specific food packaging. Food packaging and its functionality are defined by the administrative requirements and standards applicable to materials that have contact with food and principally through the prism of the ecological disaster caused by enormous amounts of plastic waste, mainly attributed to the food packaging. To meet environmental and administrative requirements, new technologies to produce food packaging materials are emerging, ensuring product functionality, low environmental impact, biodegradability, and potential for composting of the final product. However, predominantly, the obtained product should keep the nutritional value of food and protect it against changes in color or shape. Current social transformation has a significant impact on the food packaging sector, on one hand creating a new lifestyle for society all over the world, and on the other, a growing awareness of the negative impact of humans on the environment and increasing responsibility for the planet. The COVID-19 pandemic has highlighted the need to develop a circular economy based on the paradigm of shortening distribution channels, using local raw materials, limiting the consumption of raw materials, energy, water, and above all, minimizing waste production throughout the life cycle of products, all of which are in line with the idea of low-carbon development.

Carbon border taxes raise international dispute risks

2021 ◽  
Keyword(s):  
Emission Trading ◽  
Climate Mitigation ◽  
Trade Disputes ◽  
Content Type ◽  
Adjustment Mechanism ◽  
Climate Policies ◽  
International Dispute ◽  
Demand Patterns ◽  
The Eu ◽  
Border Adjustment

Significance Increasingly demanding climate mitigation targets in some economies have raised concerns over industry competitiveness and possible relocations of carbon-intensive industries. The EU plans a ‘carbon border adjustment mechanism’ (CBAM), effectively a tax, by 2023, to penalise imports from economies without comparable climate policies. These types of measures strengthen industry support for such policies, but risk triggering trade disputes. Impacts Efforts to link different emission trading schemes will grow. Decarbonisation policies will change demand patterns for manufacturing inputs. Developing countries’ climate diplomacy will need to be coordinated with their trade ministries.

scholarly journals Use of Ash-and-Slag Wastes after Burning of Fine-Dispersed Coal-Washing Wastes

2018 ◽  
Vol 41 ◽  
pp. 01042
Author(s):  
Vasilii Murko ◽  
Veniamin Khyamyalyainen ◽  
Marina Baranova
Keyword(s):  
Power Plants ◽  
Building Materials ◽  
Negative Impact ◽  
Mineralogical Composition ◽  
Unburned Carbon ◽  
Crushed Rock ◽  
Low Carbon ◽  
Technological Parameters ◽  
Coal Fuel ◽  
Granulated Slag

Effective utilization of ash-and-slag waste generated by coalfired power plants can help significantly to reduce the negative impact on the environment and improve their economic performance. Studies have been made of the mineralogical composition of ash-and-slag wastes obtained after the combustion of water-coal fuel based on fine-dispersed coal-washing waste (filter cake) in a specially designed boiler with a vortex combustion system. The possibility of effective use of ash-and-slag wastes for the production of building materials, primarily mortar mixes, widely used for mining works on mine openings, laying the worked out space, etc. (high content of silicon oxide and aluminum oxide is combined with a low carbon content in other words a negligible unburned carbon loss). The optimum percentage ratio of the initial components of the filling mixture based on ash-and-slag wastes and crushed rock (granulated slag) has been established. The results of experimental tests of hardening tabs on the strength under uniaxial compression are presented. It has been established that a sample containing 18% of ash-and-slag wastes, 33% of a granulated slag and 19% of cement, corresponds to the required technological parameters for the strength and cement content.

scholarly journals Competency Gaps of Employees in the Construction Sector in Terms of the Requirements of a Low-Carbon Economy. Polish and Czech Case

Energies ◽  
2021 ◽  
Vol 14 (23) ◽  
pp. 7868
Author(s):  
Honorata Howaniec ◽  
Łukasz Krzysztof Wróblewski ◽  
Hana Štverková
Keyword(s):  
Greenhouse Gas ◽  
Construction Industry ◽  
Greenhouse Gas Emission ◽  
Negative Impact ◽  
Modern Society ◽  
Construction Sector ◽  
Low Carbon ◽  
Low Carbon Economy ◽  
Low Emission ◽  
Carbon Economy

Environmental policy obliges modern society to transition to a low-carbon economy. After entering to life, the Paris Agreement obligated the signatories to prepare the first nationally determined contributions (NDCs). The NDCs aim first to reduce greenhouse gas emission targets under the UNFCCC and they apply equally to both developed and developing countries. Countries voluntarily indicate what actions will be taken to achieve the declared goals. The construction sector is an industry that is under scrutiny due to its negative impact on the environment, but it also has the potential to reduce it. Activities that can reduce greenhouse gas emissions can be carried out at various levels in the construction industry. One of them is the appropriate preparation of the staff, including equipping them with the so-called green skills. This research aimed to determine the competency gaps of people employed in the construction industry, including competencies in the field of low-emission economy. For the purposes of the study, a questionnaire survey was carried out in Poland and the Czech Republic and based on the results obtained the appropriate competencies were determined that should be possessed by people employed in the construction sector, including competencies related to a low-emission economy. Competency profiles for people employed in the construction sector were built and competency gaps of these people were determined. In both countries, no competencies have been identified in any of checked areas that meet or exceed the requirements of managers according to specific competency profiles.

scholarly journals OUTCOME AND ROOTS OF EARLY MARRIAGES IN GILGIT-BALTISTAN: A QUANTITATIVE DESCRIPTIVE STUDY

2018 ◽  
Vol 3 ◽  
pp. 1
Author(s):  
Saima Baig ◽  
Asmat Ullah
Keyword(s):  
Negative Impact ◽  
Economic Consequences ◽  
Early Marriage ◽  
Survey Method ◽  
Age Group ◽  
Primary And Secondary Education ◽  
Northern Areas ◽  
Quantitative Descriptive ◽  
Second Category ◽  
Gilgit Baltistan

The aim of this study was to find out the causes and outcome of the early marriages in the light of victims and gatekeepers observations. However, one-third of under-aged girls in the developing countries are married before the age of 18 years. Although in Northern areas of Pakistan, early marriage is a very common problem in both gender, especially, in Gilgit-Baltistan and the ratio is higher than any other part of the country. Moreover, in this region, early marriage is prevailed due to traditional customs, religious dominance and supernatural evil. The present study chose two categories, first category for victims which includes respondents of age group from 10 to 40 years old and married before 18 years of age. The second category was chosen for interpretation of the community gatekeepers. We utilized a quantitative survey method to collect data from each district and examined 200 sample. A sample is divided into two groups, the victim's group includes 150 respondents and the group of gatekeepers includes 50 sample size. The tailor-made close-ended questionnaire was designed for the collection of data. Beside this, a Likert scale was also used for Professionals.  There is a need to take some serious steps to eliminate this social disease which promotes the illiteracy, poverty, crime, economic burden, terrorism, domestic violence and rapid increase in population which is surmounting challenges in the pathway of regional development. Early marriage has psychological, physical and economic consequences; most girls remain unable to complete their primary and secondary education and also have the negative impact on their health.

scholarly journals Does Emission Trading Improve Carbon Emission Efficiency of China’s Iron and Steel Industry? An Exploration Using a DEA-SBM and Difference-In-Differences Approach

2021 ◽  
Author(s):  
Xiping Wang ◽  
Sujing Wang
Keyword(s):  
Steel Industry ◽  
Carbon Emission ◽  
Emission Trading ◽  
Energy Structure ◽  
Iron And Steel Industry ◽  
Low Carbon ◽  
Difference In Differences ◽  
Iron And Steel ◽  
Emission Efficiency ◽  
The Impact

Abstract As an effective tool of carbon emission reduction, emission trading has been widely used in many countries. Since 2013, China implemented carbon emission trading in seven provinces and cities, with iron and steel industry included in the first batch of pilot industries. This study attempts to explore the policy effect of emission trading on iron and steel industry in order to provide data and theoretical support for the low-carbon development of iron and steel industry as well as the optimization of carbon market. With panel data of China’s 29 provinces from 2006 to 2017, this study adopted a DEA-SBM model to measure carbon emission efficiency of China’s iron and steel industry (CEI) and a difference-in-differences (DID) method to explore the impact of emission trading on CEI. Moreover, regional heterogeneity and influencing mechanisms were further investigated, respectively. The results indicate that: (1) China's emission trading has a significant and sustained effect on carbon abatement of iron and steel industry, increasing the annual average CEI by 12.6% in pilot provinces. (2) The policy effects are heterogeneous across diverse regions. Higher impacts are found in the western and eastern regions, whereas the central region is not significant. (3) Emission trading improves CEI by stimulating technology innovation, reducing energy intensity, and adjusting energy structure. (4) Economic level and industrial structure are negatively related to CEI, while environmental governance and openness degree have no obvious impacts. Finally, according to the results and conclusions, some specific suggestions are proposed.

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