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How does carbon emission trading scheme affect enterprise green technology innovation: evidence from China’s A-share non-financial listed companies

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Abstract

More and more emphasis is placed on the common development of economy and ecological environment in China’s development strategy, and one of the key solution is green technology innovation of enterprises. This paper takes the carbon emission trading scheme carried out in China in 2013 as a quasi-natural experiment and uses the data of China’s A-share non-financial listed companies and the DID method to empirically test the impact of the scheme on enterprise green technology innovation from the micro level. The results suggest that the carbon emission trading scheme has a significant role in promoting enterprise green technology innovation, mainly through the innovation of green practical patents and alternative energy-based patent. Using a series of robustness tests such as dynamic effect test, placebo test, and PSM-DID, it is found that the results are still valid. Further analysis finds that debt financing will weaken the role of carbon emission trading scheme in promoting enterprise green technology innovation. And the carbon emission trading scheme plays a greater role in promoting green technology innovation in state-owned enterprises, enterprises belonging to areas with strong pollution control intensity and high pollution industry.

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Data availability

The data that support the findings of this study are available from the corresponding author upon reasonable request.

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Funding

This research was supported by National Social Science Foundation of China “Research on Industry Selection and Cooperation Path to Promote the Construction of Belt and Road from the Perspective of Regional Value Chain” (21CJL030).

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Authors and Affiliations

  1. School of Economics and Management/Institute for Macroeconomy High-Quality Development of Xinjiang, Xinjiang University, Wulumuqi, 830046, China

    Xiaodong Ma & Yongxuan Xue

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  1. Xiaodong Ma
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  2. Yongxuan Xue
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Contributions

All authors made significant contributions to the study conception and design. Data collection and methodology were performed by Yongxuan Xue. The first draft of the manuscript was written by Xiaodong Ma and Yongxuan Xue, and both the authors commented on the previous versions of the manuscript. All the authors read and approved the final manuscript.

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Correspondence to Yongxuan Xue.

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Ma, X., Xue, Y. How does carbon emission trading scheme affect enterprise green technology innovation: evidence from China’s A-share non-financial listed companies. Environ Sci Pollut Res 30, 35588–35601 (2023). https://doi.org/10.1007/s11356-022-24768-x

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