Research On The Impact Of Carbon Trading Policy On Green Technology Innovation

Contribute to the effective solution of global warming.In order to solve the problem of carbon dioxide emissions,the 1997 Kyoto Protocol took the market mechanism as a new path to make carbon dioxide emissions a commodity for trading,and carbon trading was born.In 2011,China began carbon trading pilot work,and approved seven provinces and cities including Beijing,Shanghai,Tianjin,Chongqing,Hubei,Guangdong and Shenzhen to carry out carbon trading pilot work.In 2013,as the first carbon pilot area in China,Shenzhen established a carbon trading model with Chinese characteristics and Shenzhen characteristics through continuous active exploration and practice.China is preparing to build a national carbon emission trading market.As a policy pilot area,Shenzhen carbon trading market has been in operation for many years,and its effect is also highly concerned by the industry.Guided by Pigou’s tax theory,Coase’s law,carbon emission indicator allocation theory and other related disciplines,this paper focuses on the main line of "research on the impact of carbon trading policy on green technology innovation",combines the development status of domestic carbon trading policy and the impact of carbon trading policy on green technology innovation in Shenzhen,and based on the relevant data of Shenzhen’s carbon trading pilot area and other non-pilot areas from 2006 to 2019,This paper empirically analyzes the role of China’s carbon trading pilot policy in the green technology innovation in the pilot region using the synthetic control method,and makes a robust estimation after the empirical analysis to test the effectiveness of the synthetic control method.Finally,it puts forward countermeasures and suggestions on improving the level of green technology innovation under the implementation of carbon emissions trading rights.The research results show that,for the pilot areas of Shenzhen,China’s carbon trading pilot policy has a promoting effect on the level of green technology innovation,and can actively drive enterprises to carry out technological innovation.Through the implementation of the policy,in order to reduce the carbon trading costs or to win the benefits of carbon trading,enterprises will increase the intensity of green technology innovation,promote the overall level of green technology innovation in the region,and enhance the overall awareness of environmental protection in the region.However,there are also some problems in the implementation process of carbon trading policies: 1.There is a lag in the promotion of green technology innovation level by carbon trading policies.At the initial stage of policy implementation,public awareness is weak and there is insufficient emphasis on green technology innovation.2.The implementation of policies has the characteristic of adapting to local conditions.The national unified carbon trading policy cannot meet the development situation of regional regions.3.Carbon trading activities lack standardization.The financial function of the carbon market has not been reflected,because it is still in the pilot state,the product variety is single,the market specification of the complete system is lacking,and the trading regulations are not detailed enough.Based on this,the following suggestions are proposed: 1.Increase publicity efforts related to carbon trading policies.2.When implementing carbon trading,governments in various regions should also develop carbon policy systems that are suitable for their respective regions.3.Strengthen the construction of carbon trading related projects in non pilot areas.4.Increase the coordinated development of carbon trading pilot areas.5.Introducing market mechanisms to stimulate green technology innovation,implementing support for special funds for green technology innovation,encouraging green enterprises to carry out equity,debt,and other financing,proposing improvement suggestions for the evaluation and standards of green technology innovation capabilities,and increasing the protection of green technology innovation property rights.In order to better protect the environment,China has launched a nationwide unified carbon emissions trading market.However,it is necessary to make development plans tailored to the specific development situation of different regions,continuously promote the development of green technology innovation in various industries,optimize carbon trading policies,and enhance the effectiveness of carbon trading in promoting green technology innovation.