The Research On The Relationship Between Environmental Regulation,Carbon Emission Trading System And Enterprise Carbon Information Disclosure

The increasing greenhouse effect has adversely affected the production and life of human society.The current international consensus is to protect the environment and reduce global carbon emission to curb the continued rise of global temperatures.As a carbon emission subject,the low-carbon business activities carried out by enterprises require accurate records and disclosure.Therefore,research on corporate carbon information disclosure behavior plays an important role in developing China’s low-carbon economy.However,the current situation of China’s corporate carbon information disclosure still have some difficult problems,the lack of institutional supervision and the lack of attention of enterprises lead to confusion in disclosure,which made the overall carbon information disclosure level low and the disclosure quality was poor.This difficult problem provide an opportunity for the study of factors affecting the level of corporate carbon information disclosure.In recent years,the promulgation of a series of environmental regulations has shown that the government’s efforts on environmental regulation are constantly increasing,which has a greater impact on the traditional business methods of enterprises.At the same time,the Carbon Trading System has also been gradually established in China.As early as 2013,the pilot construction of carbon trading had begun,and achieved relatively good results.The establishment of the national carbon market was officially established at the end of 2017,which marks the formal establishment and improvement of China’s Carbon Trading System,and also affects the company’s carbon emissions behavior.Based on this,this paper mainly studies the factors affecting the level of carbon information disclosure of enterprises from two perspectives:environmental regulation and Carbon Trading System.This paper takes the industrial enterprises of the Shanghai Stock Exchange as the research sample,constructs the enterprise carbon information disclosure quality index-CDI,as an indicator to measure the quality of corporate carbon information disclosure.And uses empirical research methods to study the factors affecting the level of corporate carbon information disclosure.Firstly,it reviews the research on carboninformation,and then based on the theoretical basis analysis,puts forward the assumption that environmental regulation and Carbon Trading System affect the level of carbon information disclosure of enterprises.Then,conduct an empirical study and it is concluded that environmental regulation is positively related to the level of corporate carbon information disclosure,and this correlation is more significant in the western region;the establishment of Carbon Trading System will also increase the level of corporate carbon information disclosure,and the heavy pollution industry is more affected;the establishment of Carbon Trading System has strengthened the impact of environmental regulation on corporate carbon information disclosure,and this strengthening effect is more apparent in the eastern region.Finally,based on the results of empirical research,relevant policy recommendations are proposed to improve the quality of carbon information disclosure of industrial enterprises,and thus promote the orderly development of the national carbon emission rights market.