Analysis Of Synergistic Emission Reduction Effects Of Multi-pollutants In China’s Carbon Trading Market Mechanism

Given the dual pressure on environmental and climate issues,synergistic emission reduction becomes an effective option to achieve economic and environmental double goals.The paper uses China’s carbon pilot market for exploring the synergistic effect beyond pollutants.The first is qualitative analysis,which summarizes the operation of the carbon market,compares the characteristics of domestic and foreign carbon trading,from the quota volume and carbon price,the quota allocating to compare the seven trading market;followed by quantitative analysis,based on the same root homology principle between CO₂ and pollutants,using the double difference method（DID）to analyze the synergistic effect,the air quality index AQI and six conventional pollutants are selected as the core variables.The study found that:（1）Guangdong’s carbon market has unique characteristics by means of paid quota allocation,achieving the synergy between the first and second market;（2）Seven Carbon markets play different levels of synergistic emission reduction through market segmentation regression;（3）Synergistic emission reduction is not only closely related to the operation of the carbon market,closing to the synergy effect of the“expiration date”,but also related to the development level of the city.The carbon market in Beijing,Shanghai and Shenzhen has even seen synergistic growth.The conclusions of this paper can provide a quantitative basis for the“fine management”of climate and environmental policy objectives.