Sustainability, Journal Year: 2025, Volume and Issue: 17(11), P. 5076 - 5076
Published: June 1, 2025
The creative breakthroughs in policy implementation by China hold essential practical importance for promoting global sustainability. carbon emission trading (CET) pilot initiated 2011 provides a quasi-natural experimental setting to investigate the dual impacts of market-incentivized environmental regulation on corporate emissions (CEs) and capacity utilization (CU) enhancement. This study employs panel data from A-share listed manufacturing companies Shanghai Shenzhen stock exchanges spanning 2007–2022, constructing reduction efficiency (CRE). A Generalized difference-in-differences (DID) approach is adopted examine effects. reveals that execution CET has shown notable enduring enhancement CRE, yielding combined advantage advancing decarbonization improving CU. These conclusions remain resilient despite thorough sensitivity analysis. Furthermore, improves CRE via three principal avenues: augmenting innovation capabilities, increasing green investment intensity, refining managerial practices. pilots are most significant state-owned firms (SOEs), capital-intensive industries (CIEs), eastern region enterprises (EEs), sectors with little market concentration. findings set empirical standards assessing initiatives guiding social progress towards
Language: Английский