摘要：优化环境权益交易政策组合是协同推进降碳、减污、扩绿、增长的关键举措。基于2004—2021年中国285个城市的面板数据，构造排污权交易和用能权交易“双试点”准自然实验，运用双重差分模型考察了环境权益交易政策工具组合推进降碳减污扩绿增长的协同效应。研究发现：“双试点”政策协同推进降碳减污扩绿增长协调发展，该结论在经过一系列稳健性检验后依然可靠。绿色技术创新、产业结构升级和能源低碳转型是主要传导机制，资源配置、环境治理、制度环境以及外部监督具有正向调节作用。“双试点”政策协同效应大于“单试点”净效应。“双试点”政策协同效应在中西部地区城市、资源型城市和老工业基地城市中受到明显抑制。本研究为优化环境权益交易政策体系提供了经验证据，为多目标协同治理与区域差异化管理提供了政策启示。
关键词：排污权交易；用能权交易；协同效应；减污降碳
How Does Environmental Rights Trading Synergistically Promote Carbon Reduction, Pollution Reduction, Green Expansion, and Economic Growth?
Gao Sheng, Zheng Qi
Abstract: Optimizing the portfolio of environmental rights trading policy portfolios is a critical initiative for synergistically advancing carbon reduction, pollution reduction, green expansion, and economic growth. Based on panel data from 285 Chinese cities from 2004 to 2021, this study used the Difference-in-Differences (DID) model and constructed a quasi-natural experiment using pilot cities for emission rights trading and energy use rights trading as “dual-pilot” to examine whether environmental rights trading policy combinations promote the coordinated progress across these multidimensional goals. The findings reveal that the “dual-pilot” policies of emissions and energy use rights trading synergistically enhanced the coordinated development of the four objectives. The above conclusion still held after a series of robustness tests. And the synergistic effects of the “dual-pilot” exceeded those of individual pilots. Furthermore, green technology innovation, industrial structure upgrading, and low-carbon energy transition innovation effects were identified as the three primary transmission mechanisms. Additionally, environmental governance, institutional quality, and external supervision had demonstrated positive moderating effects. It is also found that the synergistic effect of the “dual-pilot” policy had significantly exceeded the net effect observed in single-pilot implementations. Finally, the synergistic effects of the “dual-pilot” were significantly constrained in cities located in central-western regions, resource-dependent cities, and old industrial bases. This study provides empirical evidence for optimizing environmental rights trading policy systems and offers policy implications for multi-objective synergistic governance and regionally differentiated management under China’s green transition framework.
Keywords: Emission Rights Trading; Energy Use Rights Trading; Synergistic Empowerment; Pollution Reduction and Carbon Mitigation
