Financing And Operational Decision-making For Low-carbon Supply Chain Emission Reduction Under Carbon Rights Pledge

With the rapid development of the global economy,carbon dioxide emissions have been increasing year by year,leading to serious issues such as global warming.Under government guidance and policy influence,businesses and consumers are increasingly concerned about carbon emissions in the supply chain.The low-carbon concept motivates supply chain enterprises to integrate the concept of carbon reduction into their operational decision-making process.However,many enterprises in current society are still in the development stage,facing financial constraints and a lack of qualified collateral,which poses significant obstacles in financing.Against the backdrop of promoting carbon quotas and carbon trading nationwide,financially constrained enterprises can obtain loans by pledging their carbon rights.At the same time,the government will also provide certain financial support to commercial banks that provide carbon rights pledge loans.Therefore,this article studies the decisionmaking problem of low-carbon supply chain operation under the background of carbon rights pledge,and compares the impact of carbon rights pledge financing and government funding support on the profits of supply chain enterprises.In addition,it also considers the optimal decision-making problem of the government from the perspective of maximizing social welfare,which has important guiding significance for enterprise strategic management and government policy implementation.Firstly,in the absence of government funding support,carbon emission reduction models without carbon rights pledge financing are constructed to explore the impact of carbon rights pledge on enterprise production decision-making and emission reduction.The commercial bank loan interest rate is also endogenous,and the impact of commercial bank loan interest rate on supply chain operation is further explored.Research has found that:(1)the level of carbon emission reduction,market demand,and profits of manufacturers and retailers are negatively correlated with the carbon emission reduction cost coefficient and the interest rate of commercial banks’ carbon rights pledge loans,while the retail and wholesale prices of products vary with the carbon emission reduction cost coefficient.(2)When manufacturers have financial constraints,compared to financing without carbon rights pledge,manufacturers using carbon rights pledge financing have better carbon emission reduction levels and production compared to financing without carbon rights pledge.Secondly,in the case of government funding support,this article explores the impact of the government’s interest rate on commercial bank funding support and the proportion of government funding support chosen by commercial banks on manufacturers and retailers’ operational decisions and emission reduction.This article also takes the interest rate of government support for commercial banks as a decision variable and explores government decision-making issues from the perspective of social maximization.Research has found that:(1)with government funding support,the level of carbon emissions reduction,market demand,and profits of manufacturers and retailers are positively correlated with consumers’ low-carbon preference coefficient,while negatively correlated with the proportion of funding support and the interest rate charged by the government for funding support.(2)The results of the carbon pledge emission reduction model with government funding support are better than those without government funding support.(3)With government funding support,manufacturers’ production decisions not only help increase consumer surplus,but also effectively increase social welfare.This article has 29 figures,8 tables,and 97 references.