The Impact Of Green Taxation And The Carbon Trading Price On Carbon Emission Of Industrial Companies

As a large industrial country,China's rapid development requires a large amount of energy input,resulting in a rapid increase in carbon dioxide emissions.In order to cope with the global climate problems caused by carbon emissions,China has committed to reduce carbon dioxide emissions per unit of GDP by 2030 by60%-65% compared with 2005.The "Made in China 2025" strategy was proposed under such high-intensity environmental constraints.It requires energy consumption and pollutant emissions per unit of industrial added value of key industries should be significantly reduced by 2020,and it is urgent to reduce energy consumption and carbon emissions of industrial enterprises.Takes the micro level of the enterprise as a starting point,the thesis summarizes the previous research results,expounds the theoretical basis of green taxation and carbon trading prices,the research methods and innovations of the article.It discusses the single factor of green taxation and carbon trading prices on corporate carbon emissions.Also,the paper conducted theoretical analysis with common influence,introduce domestic and foreign literature and relevant theoretical foundations.After that,the paper uses the theoretical and empirical analysis of the impact of green taxation and carbon emissions trading prices on corporate carbon emissions,using descriptive statistics,two-way fixed-effect model(Two-way FE)and feasible generalized least squares(FGLS)methods for empirical analysis in three aspects,namely,the impact of green taxation on corporate carbon emissions,the impact of carbon trading prices on corporate carbon emissions,and the combined effect of two factors on the carbon emissions of listed companies respectively.Subsequently,the Heckman two-stage model and the two-stage generalized moment estimation method(IV/GMM)were used for the endogenous test,and the substitution variables and the generalized estimation method(GEE)are used for the robustness test.It is found that green taxation has a significant U-shaped relationship with the carbon emissions of industrial enterprises,and the U-shaped relationship is still established in carbon trading pilot or non-carbon pilot enterprises,light pollution or heavy pollution enterprises.As the burden of green taxation increases,companies' carbon emissions first decrease and then increase,and most companies are located to the left of the U-shaped inflection point,meaning that green taxation mainly manifests as a carbon emission reduction.There is a linear negative correlation between the trading price of carbon emission rights and corporate carbon emissions,which means that it has a significant inhibitory effect on corporate carbon emissions.As the carbon trading price increases,carbonemissions fall.In addition,this article sets up a crossover term for two factors to explore the interaction between the two on carbon emissions,but the crossover term is not significant,indicating that there is no significant mutual promotion or inhibition between the two mechanisms.In addition,there is significant industry heterogeneity in the effect of green taxation and carbon trading prices on corporate carbon emissions.Although green taxation has a significant U-shaped relationship for both lightly polluting and heavily polluting enterprises,the carbon reduction for heavily polluting enterprises The emission effect is stronger than that of light polluting enterprises.In terms of carbon trading price,it has a significant effect on carbon emission reduction of light polluting enterprises,but it has not exerted a significant carbon emission suppression effect on heavy polluting enterprises.Based on the previous theoretical and empirical analysis,this paper summarizes the research results of this paper for the purpose of reducing corporate carbon emissions.It combines China's current green taxation mechanism and carbon emission rights market trading mechanism.In order to improve corporate carbon reduction,two recommendations are put forward,which are reforming of the tax system and the gradual introduction of carbon tax as well as optimizing market allocation capabilities.