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Impact of carbon markets on industrial competitiveness: An analysis of selected industries in Beijing

Lu, Min; Xu, Hao; Wang, Xing

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Authors

Min Lu

Hao Xu



Abstract

Although the booming carbon markets provide additional incentives to reduce greenhouse gases, their impacts on the society and economy have attracted increasing attention. Based on 2014–2016 daily carbon market trading price data, this study estimates the direct and indirect carbon emissions cost incurred by Beijing carbon market and explores its impact on industrial competitiveness via an evaluation model. Our results show that the impact of the carbon emissions cost is negligible, and the proportion of the three most affected industries’ added values to Beijing’s gross domestic product is only 10%, indicating that the economic impact is limited. However, the impact on the production and supply of power, gas and water industry could reach as high as 3.02% in three years. Compared with the European carbon market, the trading price of Beijing’s carbon market is relatively low, and the price cap could possibly increase to 100 Yuan per ton. However, each 10-Yuan increment in the carbon price will increase the impact on industry competitiveness by 1.68%. This study provides a scientific basis for exploring the impact of China’s carbon market on industry competitiveness and will be of significant value to policy makers.

Citation

Lu, M., Xu, H., & Wang, X. (2021). Impact of carbon markets on industrial competitiveness: An analysis of selected industries in Beijing. Energy Reports, 7(7), 1601-1611. https://doi.org/10.1016/j.egyr.2021.09.063

Journal Article Type Article
Acceptance Date Sep 14, 2021
Online Publication Date Dec 6, 2021
Publication Date 2021-11
Deposit Date Jan 26, 2022
Publicly Available Date Jan 27, 2022
Journal Energy Reports
Print ISSN 2352-4847
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 7
Issue 7
Pages 1601-1611
DOI https://doi.org/10.1016/j.egyr.2021.09.063
Public URL https://durham-repository.worktribe.com/output/1218598

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Publisher Licence URL
http://creativecommons.org/licenses/by/4.0/

Copyright Statement
This article is available under the Creative Commons CC-BY-NC-ND license and permits non-commercial use of the work as published, without adaptation or alteration provided the work is fully attributed.





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