Whether carbon emission trading policies can promote the ESG level of enterprises in high-carbon industries:A quasi-natural experiment based on data from listed Chinese companies
ZHANG Yulin
NI Jie
WANG Aimin
GE Min
Abstract：As an important institutional innovation for green and low-carbon economic development in China,the carbon emission trading policy can boost enterprises to achieve green transformation at the micro level,and help achieve the goal of"carbon peak and carbon neutrality"at the macro level.Based on A quasi-natural experiment to establish a carbon emission trading market,this paper uses a multi-stage differential model to test how carbon emission trading policies excert influence on the ESG performance of enterprises empirically by taking the data of Shanghai-Shenzhen A-share listed companies in high-carbon industries from 2009 to 2022 as samples.It is found that carbon emission trading policy can promote enterprises in high-carbon industries to show better ESG performance through two channels of promoting technological innovation and improving corporate information transparency,and it is more obvious in state-owned enterprises,large-scale enterprises,and enterprises in the central and western regions.The research will help to move forard a single step to improve the national carbon emission trading market and effectively realize of the"dual carbon"goal.
Keywords：carbon emission trading policyESG levelhigh-carbonindustrydifference-in-differences modelquasi-natural experiment
Publication Date：2024-08-20
Online Publishing Date：2025-08-15(First online date of this platform, not the publication date of the document)
Pages：8( 87-94 )