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Sustainability 2018, 10(7), 2421; https://doi.org/10.3390/su10072421

Can China’s Carbon Emissions Trading Rights Mechanism Transform its Manufacturing Industry? Based on the Perspective of Enterprise Behavior

1
Economic Management Institute of Nanjing University of Aeronautics and Astronautics, Nanjing 210016, China
2
Business School of Nanjing University of Information Science and Technology, Nanjing 210044, China
*
Author to whom correspondence should be addressed.
Received: 1 June 2018 / Revised: 4 July 2018 / Accepted: 5 July 2018 / Published: 11 July 2018
(This article belongs to the Special Issue Transition from China-Made to China-Innovation )
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Abstract

The pilot policy of carbon emissions trading rights covers six heavy pollution industries in the manufacturing industry and has achieved considerable emission reductions. Based on enterprise behavior, this study analyzes the impact of the carbon emissions trading rights pilot policy on the productivity of manufacturing enterprises. In addition, we examine whether the pilot policy can aid in the transformation and upgrading of China’s manufacturing industry. Furthermore, we examine the influence of carbon emissions trading rights on manufacturing enterprises of different sizes and with different property rights. The results show that the trading rights have not produced a “Porter effect” on the productivity of manufacturing enterprises in China or in subsamples based on the nature of enterprise ownership. The impact of the carbon trading rights on the productivity of state-owned manufacturing enterprises in the pilot provinces is based on the compliance cost hypothesis. Therefore, the pilot policy has yet to achieve coordinated economic, social, and environmental development. Lastly, we put forward several policy suggestions on the coordinated development of a carbon trading policy and manufacturing enterprises from the perspective of the government, enterprises, and society. View Full-Text
Keywords: carbon emissions trading rights; manufacturing; enterprise productivity; transformation and upgrading; enterprise behavior carbon emissions trading rights; manufacturing; enterprise productivity; transformation and upgrading; enterprise behavior
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Dai, Y.; Li, N.; Gu, R.; Zhu, X. Can China’s Carbon Emissions Trading Rights Mechanism Transform its Manufacturing Industry? Based on the Perspective of Enterprise Behavior. Sustainability 2018, 10, 2421.

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