Quasi-natural experiment demonstrates that carbon trading decreases carbon emission intensity in listed enterprises, highlighting that ESG performance strengthens corporate decarbonization.
Key Points
Carbon emission intensity decreases significantly under carbon emissions trading, with stronger reductions observed among firms displaying advanced levels of corporate digitization.
A multi-temporal double-difference model evaluating A-share-listed enterprises from 2009 to 2019 reveals that ESG ratings positively regulate these industrial decarbonization pathways.
Highlights from spatial Durbin model estimates indicate that carbon trading curbs negative spillovers, encouraging non-pilot enterprises to adopt active carbon emission reduction practices.