From High Energy Use to Sustainability: Mechanisms of Carbon Emissions Trading System in Driving Green Transformation of Energy-Intensive Firms
高エネルギー使用から持続可能性へ：炭素排出取引制度がエネルギー多消費企業のグリーン変革を促進するメカニズム (AI 翻訳)
Ruofei Lan, Hsing Hung Chen, Hui Xie, Zhengyang Luan, Guangxian Li
🤖 gxceed AI 要約
日本語
本研究は、中国の炭素排出取引制度（CETS）がエネルギー多消費企業のグリーン変革（GT）に与える影響を、2007～2024年の529社のデータを用いて分析。DIDモデルの結果、CETSはGTを有意に促進し、内部統制と技術革新が効果を強化。競争の激しい業種やグリーン評判の高い企業で効果が顕著。
English
This study examines the impact of China's carbon emissions trading system (CETS) on the green transformation (GT) of energy-intensive firms using a multi-period DID model on 529 listed firms from 2007-2024. Results show CETS significantly promotes GT, with internal control and green technological innovation as positive moderators. Effects are stronger in highly competitive industries and firms with strong green reputations.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
中国ETSの実証結果は、日本のカーボンプライシング政策（東京キャップ＆トレード、国家炭素税など）の設計や効果予測に示唆を与える。特に、エネルギー多消費産業における排出削減と企業競争力の両立について、日本企業の戦略立案にも参考になる。
In the global GX context
China's CETS is the world's largest carbon market, and this paper provides robust causal evidence on its effectiveness in driving firm-level green transformation. It contributes to the global literature on carbon pricing impacts, particularly for energy-intensive sectors, and offers insights for carbon market design in other jurisdictions (EU ETS, RGGI, etc.).
👥 読者別の含意
🔬研究者:Empirical evidence using DID and robustness tests on carbon pricing effectiveness for energy-intensive firms.
🏢実務担当者:Insights on how internal control and green innovation can amplify benefits of carbon trading for firm greening.
🏛政策担当者:Evidence to inform expansion or adjustment of carbon trading systems, including coverage and sector design.
📄 Abstract（原文）
Energy-intensive firms are key participants in China’s carbon emissions trading system (CETS). However, evidence on whether CETS promotes the green transformation (GT) of these firms remains limited. In this study, a multi-period difference-in-differences (DID) model is applied to investigate the impacts of CETS on the GT of 529 listed firms from six energy-intensive industries over the period 2007–2024. Results show that CETS significantly promotes GT, and the findings remain robust after parallel trend, placebo, propensity score matching (PSM)-DID, Goodman-Bacon decomposition, and alternative variable tests. Further analysis reveals that internal control and green technological innovation (Ginn) positively moderate the effects of CETS on the GT of energy-intensive firms. Heterogeneity analysis reveals that the promoting effect is more pronounced in highly competitive industries and among firms with stronger green reputations. These findings provide empirical evidence on the effectiveness of CETS in facilitating the GT of energy-intensive firms.
🔗 Provenance — このレコードを発見したソース
- crossref https://doi.org/10.3390/en19133037first seen 2026-06-30 05:54:53
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