Research on the impact of carbon emissions trading scheme on airlines’ green total factor productivity

doi:10.12006/j.issn.1673-1719.2022.182

Abstract

Abstract:

Carbon emissions trading scheme (ETS) has become an important market means to reduce greenhouse gas emissions and an effective policy tool to achieve the goal of “double carbon”. Using airlines as the research object and 2013-2022 as the time window, the difference in differences (DID) model was used to test the impact of China’s pilot ETS policy on the green total factor productivity (GTFP) of airlines. Research has found that even under loose regulations dominated by free quotas, ETS still has a significant effect in curbing aviation carbon emissions and increasing GTFP, especially for low-cost carrier, private aviation, and dual carbon market regulations. For airlines to reduce emissions, a strict benchmark quota allocation method has a better forcing effect than a relaxed grandfather system. ETS mainly enhances airline GTFP by promoting environmental investment and refined management. The research conclusions provide academic reference and quantitative solutions for scientifically evaluating the policy effects of carbon trading pilot projects, improving the total factor productivity of civil aviation, and promoting green development of the industry.

Key words: Carbon emission trading scheme (ETS), Airline company, Green total factor productivity (GTFP), Difference in differences (DID) model

TIAN Li-Jun, Qin Wen, LI Jie. Research on the impact of carbon emissions trading scheme on airlines’ green total factor productivity[J]. Climate Change Research, 2023, 19(3): 320-333.

Figures/Tables 13

Fig. 1 Mechanisms for the role of carbon emissions trading scheme (ETS) in enhancing green total factor productivity (GTFP)

Table 1 Airline green total factor productivity (GTFP) indicators and its descriptions

Table 2 Variable description table

Table 3 Sample selection and distribution

Table 4 Descriptive statistics of variables

Fig. 2 Dynamic distribution of GTFP in the sample

Fig. 3 Dynamic distributions of decomposition factors for sample GTFP

Table 5 DID regression results

Table 6 DID regression results between ETS and decomposition factors of GTFP

Table 7 Parallel trend test

Fig. 4 Dynamic effects of ETS on the impact of airlines’ GTFP

Table 8 Counterfactual tests

Table 9 Heterogeneity analysis of the impact of ETS on airlines’ GTFP

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