Effects of scenario-based carbon pricing policies on China's dual climate change mitigation goals: Does policy design matter?
Although the carbon pricing policy is a critical driving factor that will help China achieve economic growth, energy transition, and dual climate change mitigation goals, the kind of carbon pricing policy that will complement the country's current development situation remains controversial. We...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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KeAi Communications Co., Ltd.
2023-06-01
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| Series: | Journal of Management Science and Engineering |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2096232022000531 |
| _version_ | 1797827758517125120 |
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| author | Jian Chai Xuejun Zhang Xiaokong Zhang Yabo Wang |
| author_facet | Jian Chai Xuejun Zhang Xiaokong Zhang Yabo Wang |
| author_sort | Jian Chai |
| collection | DOAJ |
| description | Although the carbon pricing policy is a critical driving factor that will help China achieve economic growth, energy transition, and dual climate change mitigation goals, the kind of carbon pricing policy that will complement the country's current development situation remains controversial. We apply the World Induced Technical Change Hybrid (WITCH) model to explore the heterogeneity and synergy of different carbon pricing policies, and the results indicate that it will be challenging to achieve carbon neutrality before 2060. The study find that the combined policy —a mix of carbon tax and carbon market policies — has the optimal emission reduction effect but comes with the highest economic cost, proving to be unsuitable in the long run. The carbon tax policy is an important transitional means to assist in emission reduction, which can serve as an important supplement to carbon market policy and be phased out after the market mechanism matures. |
| first_indexed | 2024-04-09T12:53:30Z |
| format | Article |
| id | doaj.art-22d2aa345cb34bd68f2daf914b92a34a |
| institution | Directory Open Access Journal |
| issn | 2096-2320 |
| language | English |
| last_indexed | 2024-04-09T12:53:30Z |
| publishDate | 2023-06-01 |
| publisher | KeAi Communications Co., Ltd. |
| record_format | Article |
| series | Journal of Management Science and Engineering |
| spelling | doaj.art-22d2aa345cb34bd68f2daf914b92a34a2023-05-14T04:28:30ZengKeAi Communications Co., Ltd.Journal of Management Science and Engineering2096-23202023-06-0182167175Effects of scenario-based carbon pricing policies on China's dual climate change mitigation goals: Does policy design matter?Jian Chai0Xuejun Zhang1Xiaokong Zhang2Yabo Wang3School of Economics and Management, Xidian University, Xi’ an, 710126, China; College of Business & Economics, Western Washington University, Bellingham, 98225, USASchool of Economics and Management, Xidian University, Xi’ an, 710126, China; Corresponding author.School of Economics and Management, Xidian University, Xi’ an, 710126, ChinaSchool of Economics and Management, Xidian University, Xi’ an, 710126, ChinaAlthough the carbon pricing policy is a critical driving factor that will help China achieve economic growth, energy transition, and dual climate change mitigation goals, the kind of carbon pricing policy that will complement the country's current development situation remains controversial. We apply the World Induced Technical Change Hybrid (WITCH) model to explore the heterogeneity and synergy of different carbon pricing policies, and the results indicate that it will be challenging to achieve carbon neutrality before 2060. The study find that the combined policy —a mix of carbon tax and carbon market policies — has the optimal emission reduction effect but comes with the highest economic cost, proving to be unsuitable in the long run. The carbon tax policy is an important transitional means to assist in emission reduction, which can serve as an important supplement to carbon market policy and be phased out after the market mechanism matures.http://www.sciencedirect.com/science/article/pii/S2096232022000531China's dual climate change mitigation goalsCarbon pricing policyCarbon emissionGDP losses |
| spellingShingle | Jian Chai Xuejun Zhang Xiaokong Zhang Yabo Wang Effects of scenario-based carbon pricing policies on China's dual climate change mitigation goals: Does policy design matter? Journal of Management Science and Engineering China's dual climate change mitigation goals Carbon pricing policy Carbon emission GDP losses |
| title | Effects of scenario-based carbon pricing policies on China's dual climate change mitigation goals: Does policy design matter? |
| title_full | Effects of scenario-based carbon pricing policies on China's dual climate change mitigation goals: Does policy design matter? |
| title_fullStr | Effects of scenario-based carbon pricing policies on China's dual climate change mitigation goals: Does policy design matter? |
| title_full_unstemmed | Effects of scenario-based carbon pricing policies on China's dual climate change mitigation goals: Does policy design matter? |
| title_short | Effects of scenario-based carbon pricing policies on China's dual climate change mitigation goals: Does policy design matter? |
| title_sort | effects of scenario based carbon pricing policies on china s dual climate change mitigation goals does policy design matter |
| topic | China's dual climate change mitigation goals Carbon pricing policy Carbon emission GDP losses |
| url | http://www.sciencedirect.com/science/article/pii/S2096232022000531 |
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