An Empirical Study On The Impact Of Low Carbon Pilot Policies On Green Technology Innovation Of Enterprises

China is the country with the largest emissions of greenhouse gases such as carbon dioxide in the world.In 2019,China’s carbon emissions have reached 10.17 billion tons,accounting for about 27.92% of the global total carbon emissions,far more than European and American countries.Therefore,China needs to bear a relatively large responsibility for energy conservation and emission reduction.At present,the most important problem that our government needs to solve is to reduce carbon dioxide emissions.Our government has also been emphasizing the high-quality development route of green and low-carbon economy,taking more vigorous policy measures,and striving to achieve the organic combination of economic growth and energy conservation and emission reduction.In order to achieve the above goals,in July 2010,the National Development and Reform Commission formulated guidelines and policies related to low-carbon pilot projects and began to implement them.The policy clearly proposed that to improve the level of green technology innovation,we must implement the innovation-driven development strategy,and in 2012 In 2017,the pilot scope was further expanded.As the main body of the market,enterprises,as an important part of achieving high-quality development of carpet economy,are the basis of rapid economic development,an important basic unit in the economic system,and play a major role in the high-quality development of China’s society.Only green technology innovation can make enterprises achieve the goal of carbon emission reduction and force the development of enterprises.Therefore,it is of practical significance and value to study its impact on the level of green technology innovation at the enterprise level in the context of the implementation of low-carbon pilot policies.Read a large number of relevant domestic and foreign documents.Based on the research of the low-carbon city pilot policy and the level of green technology innovation of enterprises,this paper uses the data of listed companies in Shanghai and Shenzhen A-share companies in China from 2009 to 2020,based on the quasi-natural experiment of the low-carbon city pilot policy,and uses the double difference model to deeply explore the impact of the low-carbon city pilot policy on the level of green technology innovation at the enterprise level.This paper first explores its internal influence mechanism and puts forward corresponding assumptions from two aspects of environmental regulation and financing constraints,and then analyzes the heterogeneous impact of policies on the level of green technology innovation from the perspective of enterprise regional location,enterprise ownership and enterprise industry,and puts forward corresponding assumptions.Secondly,Maxdea software and SBM-DEA model are used to construct the input-output index of the micro-direction of enterprises to measure the efficiency of enterprises’ green technology innovation,and the efficiency of enterprises’ green technology innovation is used to measure the level of enterprises’ green technology innovation.Then,the double-difference model is used to explore the policy innovation effect of the low-carbon city pilot,The reliability of the regression results is verified by the propensity score matching method and the counterfactual test of the hypothetical policy impact point.Finally,the internal mechanism and heterogeneity of green technology innovation of enterprises under the low-carbon pilot policy are analyzed.The research shows that the pilot policy of low-carbon cities has a significant role in promoting the level of green technology innovation of enterprises.The mechanism test found that the pilot policy of low-carbon cities mainly strengthens the green technology innovation ability of enterprises by strengthening environmental regulations and financing constraints.The heterogeneity test of different enterprise characteristics found that the low-carbon city pilot policy has a more significant role in promoting the level of green technology innovation of enterprises,state-owned enterprises and pollution-intensive enterprises located in the eastern region.It also proposed that different green and low-carbon economic development strategies should be formulated according to the different conditions of each region,and multiple policies should coordinate with each other to reduce governance costs and improve green technology investment and financing.From the perspective of micro-enterprises,this paper innovatively implements the category of innovative technology and focuses on the green technology innovation part,uses the data of A-share companies listed in Shanghai and Shenzhen,uses the efficiency of green technology innovation of enterprises to measure the index of green technology innovation of enterprises,and carries out a dynamic and static analysis of the efficiency of green technology innovation of enterprises,Use theoretical explanation and empirical analysis to study the impact on the level of green technology innovation at the enterprise level under the policy framework of the low carbon city pilot policy and put forward practical and reasonable policy recommendations,scientifically evaluate the emission reduction effect of the low carbon pilot policy,promote enterprises to accelerate the upgrading of industrial structure,improve the level of green technology innovation of enterprises,enhance the core competitiveness of enterprises,and provide experience and inspiration for the country’s low carbon development.