Research On A Closed-loop Supply Chain Network Equilibrium Considering Carbon Tax And Cap-and-trade Regulation Under Green Finance Background

Economic development has occurred inevitable devasting impact on the environment and the earth’s climate system.In recent years,governments have issued diverse policies to deal with climate change.As for enterprises,they should balance the relationship between economic goals and social responsibilities.Based on the above background,this paper studies the impact of different carbon emission reduction policies on the closed-loop supply chain network equilibrium.Moreover,this paper investigates which trade-in program is more efficient under different policies.The conclusion can provide guidance for the government to formulate carbon emission reduction policies and enterprise’s production and operation plan.The main work of this paper is as follows:(1)A closed-loop supply chain network equilibrium investigation based on carbon tax policy.The closed-loop supply chain network model composed of multiple manufacturers,multiple retailers and multiple consumer markets.Considering government restricts manufacturers’ carbon emission behavior by issuing carbon tax policy,the supply chain network equilibrium models of trade-in program led by manufacturers and retailers are constructed respectively.(2)A closed-loop supply chain network equilibrium investigation based on green finance.Under the green finance background,considering government provides green credit subsidies and green product subsidies,manufacturers are divided into clean manufacturers and ordinary manufacturers based on whether invest in green production technology through green credit loans,and consumers in the demand market have low carbon awareness.(3)A closed-loop supply chain network equilibrium analysis based on cap-and-trade regulation.Based on the above model,two types of manufacturers can buy or sell carbon quotas through carbon trade company.This model adds a carbon quota trade subnet to the previous product trade subnet.The introduction of carbon trade company enriches the network members,and increases complexity of this model.The above models respectively construct the profit maximization objective function of each member and transform the constrained profit maximization nonlinear programming problem into a variational inequality problem by using variational inequality and complementary theory.Then the optimal behavior and equilibrium conditions of each supply chain member are obtained and obtained.The modified contraction projection algorithm is used to solve the model.The influence of relevant parameters on the network equilibrium are analyzed in numerical example part,and the corresponding managerial insights are obtained.The results show that trade-in program promotes resource recovery,but weakens the income of supply chain members to a certain extent.Under different carbon emission reduction policies,retailer-led trade-in scenario can always create higher economic benefits and social welfare.Moreover,when manufacturers are subdivided,the competitive relationship between enterprises changes,and manufacturers’ different behavior decisions will have a great impact on enterprise profits.Furthermore,the government can effectively coordinate the relationship between economic objectives and environmental protection objectives through the "mixed carbon tax and green subsidy" policy.Finally,in the context of green finance,both types of government subsidies have a positive impact on manufacturers.