Research On The Influence Of Carbon Pricing Mechanism On Green Total Factor Productivity Of Iron And Steel Industry

Following the 1992 United Nations Framework Convention on Climate Change and the 1997 Kyoto Protocol,the Paris Agreement adopted on December 12 th,2015 put forward important actions to reduce carbon emissions and control temperature rise by using carbon pricing mechanism.From the establishment of the pilot system of China’s carbon emission trading market in 2015 to China’s carbon emission trading market in June 2021,to China’s explicit proposal to do well the basic work of China’s carbon emission peak and China’s carbon neutrality in a down-to-earth manner,all the emission reduction achievements and commitments over the years show that China has been actively carrying out the emission reduction task.With the maturity and perfection of the carbon market pricing policy,the discussion and agreement of the carbon tax policy,the research and practice of China’s corresponding carbon pricing mechanism has been on the agenda.In addition,if the electric power industry is included in the national carbon trading market,adhering to the principle of "mature one is included in one",will the steel industry become the next industry to be included? At present,carbon trading has become China’s national strategy to control greenhouse gas emissions,and the construction of market system has been steadily advanced.The practice of carbon market shows that carbon trading can not only reduce carbon intensity,but also optimize energy consumption structure.Under this background,this paper uses the panel data of steel industry in 30 provinces and cities in China from 2009 to 2018,mainly uses the double difference model(DID)to test the policy of green total factor productivity of steel industry under the carbon pricing mechanism,and verifies the robust result by the double difference tendency score matching method(PSM-DID).Finally,the mechanism between carbon trading,carbon tax policy and green total factor of steel industry is proved through the mechanism test.The results show that: 1)Under the constraint of carbon pricing mechanism,the overall carbon emissions and carbon intensity of China’s steel industry from 2009 to 2018 showed an inverted "U" shape,and the green total factor productivity of the steel industry in the pilot areas was significantly better than that in the non-pilot areas.Generally speaking,the green development performance of the steel industry in the eastern region was higher than that in the central,western and northeast regions,and the order from strong to weak was eastern,central,western and northeast regions;2)In the policy test,the preliminary DID regression coefficient of green total factor productivity under carbon trading passed the significance test at 5% and 1% levels respectively,showing positive significance,and the linear regression result under carbon tax policy was positive correlation,and the nonlinear regression result showed a "U" shape.It shows that the carbon pricing mechanism has a significant positive role in promoting the green total factors in the steel industry.3)The results of mechanism analysis show that the net effects of carbon trading and carbon tax policy on science and technology research and development and energy consumption structure are significantly positive,which indicates that carbon pricing mechanism can exert the effects of technological progress,resource allocation and factor substitution by driving low-carbon technological innovation and increasing the proportion of clean energy,and then promote the green development performance of the steel industry.