Study On The Mechanisms And Effects Of Carbon Emission Trading System On Industrial Energy Use Efficiency

With the intensification of global climate change and the growing problem of environmental pollution,low-carbon economy and sustainable development have become the focus of attention of the international community.As the largest energy consumer and greenhouse gas emitter in the industrial sector,energy conservation and emission reduction in the industrial sector has become one of the important tasks in promoting a low-carbon economy and addressing climate change globally.Against this background,carbon emissions trading systems,as an important market-based instrument,have been adopted by an increasing number of countries and regions.As China is the world’s largest industrial power,the implementation of a carbon emissions trading system is not only an important means of achieving green economic development,but also a part of guarding the world’s beautiful environment.Therefore,this thesis examines the impact of carbon trading on China’s industrial energy efficiency,and proposes some policy support and countermeasures in response to the empirical findings.In terms of theory,firstly elaborates the theoretical foundations supporting the thesis,which include Porter’s hypothesis theory,externality theory and Coase’s property rights theory;then,the research mechanism and effects of carbon emissions trading system on industrial energy use efficiency are demonstrated through model derivation;finally,based on the theoretical analysis of carbon emissions trading system on industrial energy efficiency,it is proposed that carbon emissions trading system can influence industrial energy use efficiency through green Finally,based on the theoretical analysis of carbon emissions trading system on industrial energy efficiency,the research hypothesis that carbon emissions trading system can influence industrial energy use efficiency through green technology innovation and industrial structure upgrading is proposed.In terms of empirical evidence,this thesis selects 285 cities’ panel data from 2004—2018,and firstly builds a DID model to assess the impact of the carbon emissions trading system on industrial energy use efficiency based on the carbon emissions trading system being piloted in seven pilot provinces(cities)in 2013.The findings show that: firstly,the carbon trading system significantly improves industrial energy use efficiency,and this result holds after hypothesis tests such as parallel trend tests,placebo tests,replacement of explanatory variables and other robustness tests.Second,the heterogeneity analysis found that,using the region as the dividing line,the carbon trading system can significantly promote industrial energy efficiency in the eastern region and has no significant effect in the central and western regions;using the degree of marketisation as the criterion,the carbon trading system has a significant positive effect on both high and low marketisation regions.Thirdly,the mechanism analysis found that carbon trading systems enhance energy efficiency by improving the level of green technology innovation in the industrial sector and upgrading the industrial structure.Based on the above research,corresponding policy recommendations are proposed:first,continue to promote and improve the construction of the national carbon emissions trading market,map out the bottom line of high-emission enterprises and promote the upgrading of their industrial structure.Second,grasp the market-oriented nature of carbon emissions trading and emphasize the coordinating role of the market and the government.Third,fully unleash the "Porter effect" and the industrial structure optimisation effect brought about by carbon emissions trading,optimise local government incentives for green innovation,and promote green development of enterprises.