Green Fiscal Incentives and Corporate Carbon Intensity: Firm- Level Evidence from China
グリーン財政インセンティブと企業の炭素原単位：中国の企業レベル証拠 (AI 翻訳)
Xiang L, Xu S, Xiao Y, Zhou Y, Feng Q
🤖 gxceed AI 要約
日本語
中国の財政インセンティブプログラムを自然実験として、企業の炭素原単位への影響を検証。直接排出は減少したが、間接排出（購入電力）が増加し、排出境界の再配分を発見。炭素会計の境界敏感性と電力システム移行との連携の必要性を示唆。
English
Using a quasi-natural experiment from China's fiscal incentive program, this study finds green fiscal incentives reduce firms' direct carbon intensity but increase indirect intensity due to emission-boundary reallocation to purchased electricity. It underscores the need for boundary-sensitive carbon accounting and power system coordination.
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
本論文は財政インセンティブが企業の排出境界をシフトさせる現象を実証。日本のGX文脈では、SSBJ開示基準におけるScope1/2の区別や、電力系統の脱炭素化と企業排出削減の連携の重要性を示唆する。
In the global GX context
This paper provides empirical evidence of emission-boundary reallocation from direct to indirect emissions, a critical insight for global carbon accounting under ISSB/TCFD. It highlights that without power sector decarbonization, firm-level reductions may merely shift burdens, informing transition finance and Scope 2 accounting.
👥 読者別の含意
🔬研究者:Researchers should note the empirical identification of emission-boundary reallocation, challenging the assumption that firm-level direct reductions equate to net reductions.
🏢実務担当者:Corporate sustainability teams should consider that Scope 1 reductions may be offset by Scope 2 increases if the power grid is carbon-intensive, urging careful boundary management in disclosures.
🏛政策担当者:Policymakers designing green fiscal incentives must coordinate with power system transition to avoid merely shifting emissions boundaries, as evidenced in China.
📄 Abstract（原文）
<title>Abstract</title> <p> Advancing corporate decarbonization without compromising market competitiveness is a central challenge in global climate governance. While price-based instruments are widely studied, the micro-level effects of integrated green fiscal incentives remain underexplored. Exploiting China’s Comprehensive Demonstration Cities for Fiscal Policies on Energy Conservation and Emission Reduction (DCER) program as a quasi-natural experiment, this paper employs a staggered difference-in-differences design on firm-level tax survey data (2010–2016) to examine the impact of green fiscal incentives on corporate carbon intensity. We find that while these incentives significantly reduce firms’ direct carbon intensity, they inadvertently increase indirect carbon intensity. We conceptualize this phenomenon as an emission-boundary reallocation. Fiscal support alleviates the fixed costs of equipment renewal, driving on-site abatement through production electrification. However, constrained by a carbon-intensive power grid, the carbon burden is merely shifted to the purchased-electricity boundary rather than eliminated, a finding corroborated by the lack of macro-level urban emission reductions. Our findings highlight the necessity of boundary-sensitive carbon accounting and the coordination of firm-level decarbonization with power-system transitions. <bold>JEL codes:</bold> H23; Q52; Q58; L25; O38 </p>
🔗 Provenance — このレコードを発見したソース
- Research Square https://doi.org/10.21203/rs.3.rs-9544336/v1first seen 2026-05-14 21:18:40
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