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AbstractThe Environmental Kuznets Curve hypothesis suggests that, as a country's national income grows, environmental degradation subsides as the population demands a cleaner environment. On the other hand, critics of the Environmental Kuznets Curve claim that many polluting industries simply relocate offshore, where environmental compliance is less costly. They then export their products back to their previous home countries. This is known as the Pollution Haven hypothesis. This article demonstrates how pollution havens can falsely give the appearance of an Environmental Kuznets Curve by analysing lead emissions from the US automotive tyre manufacturing industry.

Abstract Hydrogen is considered a potential game changer for world energy systems and a solution to climate change concerns, as it generates zero waste and it is suited for power generation and transportation. Despite its several advantages, there are significant technical challenges in deploying a stable hydrogen economy including improving its process efficiencies, lowering production costs, maintaining cost-effective transmission and distribution, and exploiting inexpensive and sustainable feedstocks. In this context, a detailed study was conducted to analyze the production sources, technologies, storage and transport systems, and global potential exportable feedstocks to produce hydrogen. A comprehensive analysis of current hydrogen production technologies with their energy efficiencies and hydrogen selling prices was reported in this study. Various hydrogen production technologies with their capital investments and CO2 emissions were also presented. Potential feedstocks for hydrogen production were identified and analyzed through a product space model, which characterizes a network of global exportable products based on their similarities and productive knowledge. It was established that the hydrogen production feedstocks and sources currently used are primarily available in six countries: the United States of America, France, Russia, Sweden, the Netherlands, and Spain. Broadly, the results revealed that the United States of America and Russia shared the highest hydrogen feedstock exports, indicating a higher probability of hydrogen production in these countries. Except for Russia, all the studied countries fell in the most desired quadrant, indicating that they can move in all product space directions to exploit unexplored hydrogen feedstocks for better sustainable economic growth.

Abstract The rapid economic development of China has been accompanied by the emission of a great number of pollutants, which in turn have caused severe environmental problems. To strengthen environmental management and to establish a pollution source information database covering all key pollution sources and activities, China carried out its first National Census of Pollution Sources (NCPS) in 2007. The survey contents include the basic environmental situation in 2007, the generation levels of the main pollutants at that time, and the amount of pollution actually discharged into the environment after end-of-pipe treatment at all kinds of pollution sources. Based on the first NCPS report for China released in 2011, and taking two typical industry pollutants, sulfur dioxide (SO 2 ), and chemical oxygen demand (COD) as examples, we first revised the historical data concerning environmental statistics based on the NCPS documents. Subsequently, we analyzed the overall industrial scale in the change of SO 2 and COD emissions using index decomposition analysis, and then studied the contributions and comparative significance of the “three pollution emission reduction measures” put forward by the Chinese government. The latter are: Engineering Emission Reduction (EER), Structure Emission Reduction (SrER) and Supervision Emission Reduction (SuER). From these analyses, we were able to identify the main driving forces for SO 2 and COD emission reduction in China's industrial system. The results indicate that, with continually increasing pollution pressure caused by rapid economic development, EER and SuER have made the greatest contributions to reducing SO 2 and COD emissions; but SrER has not had an obvious effect. In the future, EER and SuER will gradually have less and less potential and become more challenging, while SrER should be achievable through adjusting the economic structure.

According to the United Nations population projections, the population of the elderly is expected to roughly triple in China from 2000 to 2050, particularly when the generations who were born between the 1950s and 1970s move through the age structure, and also because people are living longer and fertility rates have fallen, population aging is expected to put pressure on government's fiscal balance through higher old-age security benefits and health-care expenditures. This work draws together the broad range of elements involved within a consistent framework, based on a computable dynamic general equilibrium model with an overlapping generation structure. Further analysis using model simulation illustrates that the alternative schemes for the benefit rate, retirement age and technological progress are likely to be beneficial, and that an obvious slow-down in the growth of living standards is likely to be avoided.

Abstract China's carbon emissions have been ranking first in the world. This study filled in the gaps in research, decomposed carbon intensity from the perspective of time, space and industry. A decoupling effort model based on factor decomposition models was constructed to analyze the driving factors of carbon emissions and economic decoupling, which builded a foundation for achieving sustainable economic development. Using the Logarithmic Mean Divisia Index method (LMDI), the paper measured the carbon emission intensity of 29 provinces and cities in China from 1998 to 2019, and decomposed the decoupling effect between GDP and carbon emission on the basis of factor decomposition by tapio. The results showed that: (1) Carbon intensity declined first, then rise lightly, and finally declined steadily. For the primary industry and the tertiary industry, the carbon intensity declined steadily, while the carbon intensity increased accordingly to the overall carbon intensity. In terms of spatial evolution, the regional differences between different provinces decreased correspondingly. (2) The cumulative contribution rates of these three effects, i.e., technological progress, industrial structure and regional scale were 106.3299%, −15.1486% and 8.8188%, respectively. There were obvious differences of these cumulative contribution rates of carbon intensity among different provinces. (3) From the perspective of industrial, technological progress effect is the largest contribution for carbon intensity in the secondary industry. The Industrial structure effect mainly affects the primary and tertiary industries; and no significant difference in regional scale effect. (4) The decoupling effect gradually improved, and technological progress has played an absolute leading role in promoting the decoupling effect. Based on the research results, the key policy recommendation are put forward as follows: (1) Further improve the technological level and support clean technology enterprises. (2) Promote industrial upgrading in backward industrial provinces (3) Promote regional assistance and the introduction of high-quality foreign investment.

Accurate measurement of the shadow price of carbon dioxide (CO2) is fundamental to the scientific assessment of the carbon emission reduction cost and the formulation and execution of China’s carbon emission mitigation policies. Underpinned by the directional distance function, this research uses a parametric linear programming method and a Bayes bootstrap estimation method to estimate the marginal CO2 emission reduction cost of the industrial sector in China and to quantify the related influencing factors. The results revealed that the marginal reduction cost of industrial CO2 is CNY 4565/ton. The marginal reduction cost of CO2 varies by industry, with the textile industry being the highest and the petroleum, coking and nuclear fuel processing industries the lowest. Meanwhile, an increasing number of industries are shifting to cleaner production. Furthermore, the marginal reduction cost of industrial CO2 has an “inverted U-shaped” relation with carbon intensity. Carbon emission reduction can be accomplished effectively if the carbon intensity is kept below the threshold value of 0.41 tons/CNY 10,000.

Abstract The global steel production has been growing for the last 50 years, from 200 Mt in 1950s to 1 240 Mt in 2006. Iron and steel making industry is one of the most energy-intensive industries, with an annual energy consumption of about 24 EJ, 5% of the world's total energy consumption. The steel industry accounts for 3%–4% of total world greenhouse gas emissions. Enhancing energy efficiency and employing energy saving/recovering technologies such as coke dry quechning (CDQ) and top pressure recovery turbine (TRT) can be short-term approaches to the steel industry to reduce greenhouse gas emission. The long-term approaches to achieving a significant reduction in CO2 emissions from the steel industry would be through developing and applying CO2 breakthrough technologies for iron and steel making, and through increasing use of renewable energy for iron and steel making. Thus, an overview of new CO2 breakthrough technologies for iron and steel making was made.

In this paper, we use financial data of Chinese listed companies from 2010 to 2020 to explore the relation between working capital financing structure and firm value under certain monetary policy and macro economy situation. We find that when monetary policy expands, the use of aggressive working capital financing structure is conducive to value maximization; when the macroeconomic situation is good, the aggressive working capital financing structure helps to improve firm value. Further study finds that monetary policy expansion urges firms to use more short-term debt to cut capital cost, and better macroeconomic situation can cut firm’s bankrupt cost to bring down working capital financing structure and improve firm value.

AbstractMany developing countries are facing the difficulty of choosing between economic growth and energy conservation and emission reduction (ECER). China has strengthened the implementation of ECER by setting environmental accountability as the development goal of local governments, hoping to have better governance effects. To evaluate the actual intervention effect of this approach, this paper constructs panel data covering 46 countries from 1995 to 2014 and uses the difference-in-differences (DID) method and the composite control method to quantitatively analyse the policy effect. The results show that China can effectively curb energy consumption and carbon emission intensity per unit of GDP by adding ECER targets to the government’s five-year plan, which has significant effects on ECER. Furthermore, we use an intermediary mechanism to test and identify low-carbon alternatives and an ECER promotion mechanism for technological advancement. The conclusion shows that economic development is compatible with low carbon and energy consumption. Combined with China’s long-term goals for ECER, it can be considered that on the road to achieving carbon peaking and carbon neutrality in the future, the economy and tertiary industry should be rationally developed, the degree of urbanization should receive more attention, and the proportion of thermal power generation should be reduced.