Research On The Impact Of China’s Carbon Emissions Trading On Green Technology Innovation Of Enterprises

Global warming is approaching the limit of human survival.As the world’s largest economy and the country with the largest carbon dioxide emissions,China is actively responding to climate warming.The EU Emissions Trading System(EU-ETS)has made a huge contribution to the reduction of carbon emissions in the world.In order to achieve green and sustainable development,the construction of China’s carbon trading market adopts the method of first pilot and then promotion,and in July 2021,the national unified carbon emissions trading market was officially launched.in order to reduce carbon emissions and help China achieve carbon peaking and carbon neutrality goals.Scholars at home and abroad have carried out a series of studies on the implementation effect of carbon emissions trading.Porter’s "Environmental Hypothesis" believes that appropriate environmental regulations can promote enterprises to achieve win-win results in both the environment and the economy through innovation.Will the carbon emission trading policy affect the green technology innovation of enterprises under China’s national conditions? Are there differences between different types of companies and different industries? What impact does carbon allowance price have on corporate green innovation? Therefore,the main question of this thesis is whether my country’s carbon emission trading can realize green technology innovation of enterprises and realize green development.Based on the above research questions,this paper firstly summarizes the relevant literature from the three aspects of carbon emission trading system,corporate green technology innovation,environmental regulation and corporate green technology innovation,and conducts theoretical analysis based on property rights theory and institutional innovation theory.For example: the carbon emission trading policy will impose strict carbon emission constraints on enterprises,and through innovation compensation income,crowding out effect and technology spillover effect,it will force enterprises to carry out technological innovation.This paper takes the emission control enterprises in the pilot provinces and cities of carbon emission trading from 2010 to2019 as samples,and uses the number of green patent applications of listed companies to measure the level of green technology innovation of enterprises.The combination of difference method(PSM-DID)method empirically tests whether carbon emission trading can force green technology innovation of enterprises.Secondly,using the carbon trading data of each trading pilot from 2014 to 2019,to explore the effect of carbon allowance price on green innovation of enterprises.Finally,the heterogeneity analysis is carried out from the scale of the enterprise,the nature of the ownership of the enterprise,and the industry to which it belongs,in order to provide important inspiration for the construction of the national carbon emission trading market,and provide policy reference for the low-carbon transformation of enterprises and the environmental decision-making of relevant government departments.The conclusions of this paper are:(1)China’s carbon emission trading policy has improved the level of green technology innovation of enterprises.(2)There is heterogeneity in the impact of carbon emission rights trading on the green innovation of different types of listed companies: the policy can more promote large-scale enterprises to carry out green technology innovation,but has no significant impact on small and medium-sized enterprises;compared with state-owned enterprises,carbon emission rights trading Trading is more conducive to promoting green technology innovation of non-state-owned enterprises;carbon emission trading can promote green technology innovation of enterprises in the power,chemical,and building materials industries,but has no significant impact on green innovation in the non-ferrous industry.(3)Raising the trading price of carbon allowances within a reasonable price range is conducive to promoting green technology innovation of enterprises.There are 15 figures,13 tables,and 76 references in this paper.