Can China’s Carbon Emission Trading System Simulate Green Technology Innovation?

The Chinese government has always attached importance to energy and emission reduction work,and proposed to establish a carbon emissions trading system in 2011 in order to reduce carbon emissions.Most of the existing research only studies whether environmental regulation can stimulate green technology innovation,but it ignores the incentive effect of carbon emission trading,a specific market-based environmental regulation,on green technology innovation.At the same time,previous studies focused on the macro level or meso level to analyze the relationship between the two,but ignored the micro level analysis.This article mainly uses the "Porter Hypothesis" as the theoretical basis for research,and on the spot checks whether my country’s implementation of the carbon emissions trading system has achieved the Porter effect,that is,whether it has reached the goal of encouraging green technology innovation.This paper takes listed companies in the pilot area of ??carbon emissions trading as the main research object,and takes the number of green patents of the research object as the main inspection indicator,and mainly adopts the PSM-DID model to empirically test whether the carbon emissions trading system has stimulated the green technology of the target company.Innovation,and how to inspire green technology innovation in target companies.First of all,based on data availability and other reasons,this paper selected 58 listed companies from companies participating in carbon emissions trading,and selected reference groups in other provinces in the same way.Secondly,the PSM method is used to select the most suitable control company for the listed company in the experimental group from the reference group.Once again,the double difference method is used to test the incentive effect after the propensity matching score.In the empirical process,this paper considers the types of green patents and corporate ownership to further investigate the incentive effect of the carbon emissions trading system.Finally,in order to reflect the robustness of the research in this paper,the paper conducted a robustness test after empirical research.This paper draws the following conclusions through empirical evidence: 1.After the pilot of my country’s carbon emissions trading,the listed companies in the experimental group have significantly increased the number of enterprises applying for green patent data,that is,carbon emissions trading has promoted green technology innovation.2.Looking at the types of patents,the carbon emissions trading system has significantly stimulated the increase in invention patents.3.Examining the impact of the carbon emissions trading system on state-owned enterprises and non-state-owned enterprises according to the different ownership of the enterprise.The results show that the carbon emissions trading system has significantly stimulated green technology innovation of non-state-owned listed companies,but non-state-owned listed companies have not shown Significant incentive effect.Finally,based on the above research conclusions,this paper puts forward suggestions on increasing the scope of carbon emissions trading,as well as the government and enterprise levels.