Fecha de publicación: 22/11/2024 Fuente: Journal of Sustainable Development Abstract
Balancing carbon emission reductions with sustained high-quality economic growth presents a significant challenge for emerging economies. Utilizing data from Chinese A-share listed companies spanning from 2005 to 2021, this study employs a time-varying difference-in-differences (DID) model to examine the impact of the low-carbon city pilot policy (LCPP) on enterprise carbon emissions (ECE). The results indicate that introducing the LCPP led to a 3.39% reduction in ECE. In the subsequent 1 to 3 years following the policy release, emissions declined by 3.53%, 3.75%, and 4.07%, respectively. These results demonstrate that the LCPP can sustainably reduce ECE, with its impact growing stronger over time. Key mechanisms driving carbon emissions reduction include environmental constraints, technological upgrades, and pollution transfer, while environmental incentives do not exhibit a significant effect. Heterogeneity analysis indicates that the carbon emissions reduction resulting from the LCPP is more pronounced in enterprises with higher pollution intensity, stronger resource bases, and more favorable geographical locations. Furthermore, regarding economic outcomes, the carbon reduction effects of the LCPP facilitate the high-quality development of enterprises. This research offers important perspectives for emerging economies seeking to harmonize economic development with environmental sustainability.