Effect of Forestry Carbon Offset Policy on Sharing the Pressure of Emission Reduction: Findings from China

Author:

Sun Rui1,He Dayi1ORCID,Yan Jingjing1

Affiliation:

1. School of Economics and Management, China University of Geosciences, Beijing 100083, China

Abstract

The forestry carbon offset policy has been implemented for a short time, and in order to study its optimization mechanism and pressure-sharing emission reduction effect, this paper applies the directional distance function to calculate the marginal abatement cost of each province/city based on the panel data of 30 provinces/cities in China from 2000 to 2020. Then, we utilize the synthetic control method to analyze the forestry carbon offset policy by taking Beijing, Guangdong, and Fujian as a natural experiment. Finally, placebo tests and differences-in-differences tests were used to verify the experiment’s effectiveness. The study has the following results. (1) The forestry carbon offset policy is a Pareto improvement after integrating multiple benefits. The proportion of FCS offset should be increased, and government subsidies should be reduced when carbon quotas are tightened, followed by the gradual inclusion of more industries and enterprises in the scope of mandatory emission reductions. (2) The impact of forestry carbon offset policy on sharing the abatement pressure has regional heterogeneity, which is affected mainly by geographical location, economic level, and industrial structure. It can be obtained that the forestry carbon offset policy has shared the pressure for emission reductions in Guangdong and Fujian. This study provides a theoretical basis for promoting forestry carbon offset policies and their coupling with other carbon-reduction policies.

Funder

National Natural Science Foundation of China

Publisher

MDPI AG

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