Encouraging enterprises to engage in green innovation is a potent strategy for reducing carbon emissions from production. As one of the largest carbon emitters, China has launched a series of policies to achieve carbon peaking and neutrality collectively referred to as China's dual carbon policy.
China has set forth a dual carbon national goal of reaching peak carbon emissions before 2030 and achieving carbon neutrality before 2060. Why and how were the goals set and what will China do to achieve them?
As one of the largest carbon emitters, China has launched a series of policies to achieve carbon peaking and neutrality collectively referred to as China's dual carbon policy. However, existing research on the impact of China's dual carbon policy on green innovation by heavy-polluting enterprises is insufficient.
A firm's costs reflect the price of resources during production, and enterprises with heavier cost burdens face higher resource prices. Implementing the dual carbon policy has made a conspicuous paradigm shift towards prioritizing carbon reduction and energy conservation within the corporate milieu.
Energy activities are the main source of carbon emissions, and the realization of the "dual carbon" goal cannot be separated from the green and low-carbon development of energy.
The concept of "dual carbon," comprising carbon peaking and carbon neutrality, represents a pivotal commitment by the Chinese government. The Chinese leadership has pledged to achieve a carbon dioxide emission peak by 2030 and to reach carbon neutrality by 2060.