There seems to be no empirical study on the impact of emission trading scheme (ETS) on downstream industries. However, carbon trading may affect the performance of downstream firms via cost effect or ...spillover effect through the industrial chain. Based on the data of listed companies, this paper innovatively constructs three-dimensional data of “upstream firm - downstream firm - time”, with a total of 40,437,001 valid observations, simulates the upstream and downstream relationship between enterprises, and estimates the impact of carbon trading on the downstream performance using the Pair Weighted Difference in Difference in Difference (PW-DDD) model. The results show that the effects of carbon trading on downstream performance is negative in the short run, but it has positive significance in the long run. Heterogeneity is also found: the downstream firms with significant industrial chain relationships are more positively affected, such as chemical, petrochemical, and cement. In addition, carbon trading may improve productivity in different sectors in the same region or the same industry in other areas, thus improving the performance of non-ETS-covered enterprises.
•The paper analyzes the ETS's impact on downstream firms' business performance.•Pair Weighted Difference in Difference in Difference (PW-DDD) model is constructed.•3 dimensional data used to simulate the relationship between upstream and downstream.•General Porter Hypothesis is proved.
•An inventory of 13,798 loess discontinuities is established.•“Cutting degree” is defined to measure the scale of loess discontinuities, and five kinds of dicontinuity-scale are found.•The ...relationships between loess discontinuities and loess geohazards (or preferential seepage channels) are found.•The mechanisms for loess collapses and loess landslides of macro loess discontinuities are identified.
Loess discontinuities are geological interfaces that are formed and continuously developed within loess during loessification. Typically, loess discontinuities include joints, cracks, fissures, and layer contact planes. In this study, 13,798 discontinuities on the Loess Plateau in China were examined to demonstrate the control mechanisms underlying loess geohazards. By comprehensively analyzing the collected data, the following could be concluded: (1) The scale of loess geohazards is proportional to the scale of the associated loess discontinuities; notably, a new terminology called “cutting degree” was defined to measure the scale of loess discontinuities. (2) Loess discontinuities provide sufficient conditions for both loess geohazards and preferential seepage channels. (3) The control mechanism for loess geohazards can be represented by a process --- “discontinuity, cave, gully, and sliding” (abbr. for DCGS). Furthermore, these conclusions provide fundamental information for the understanding of loess geohazards controlled by the combined characters of loess discontinuities and for forecasting of loess landslides on the Loess Plateau.
This paper provides a new analytical framework interpreting the model results from a computable general equilibrium model. The study takes China's Emission Trading Scheme (ETS) as an example, ...applying the China Energy-Environment-Economy Analysis model to study the impact mechanism of the ETS. The study constructs three types of ETS coverage, analyzes the price fluctuation, considers the impact on macro indicators, and finally calculates the impact on residents, factor flow, enterprises, and households. The results show that the ETS only covering electricity may lead to the highest rise of consumer price index and most significant reduction of actual purchasing power; rural households may suffer more from ETS negative impact because of the consumption structure; ETS may create new job opportunities in the ETS-covered sectors, especially in energy-intensive industries for low carbon careers. However, the outputs of these industries still decrease. It should be noted that carbon trading may widen the urban-rural gap from both the source side and consumer side.
•A new analytical framework based on the CGE model's results are proposed.•We analyze the impact mechanism of emission trading through price changes.•ETS may create new job opportunities in ETS covered sectors.•ETS may have higher negative effects on rural welfare in China.
•Carbon tax on energy production industry increases energy supply cost, and carbon trading increases energy demand cost.•Carbon tax directly reduces energy production and indirectly reduces CO2 ...emissions via international and domestic trade.•Carbon trading directly reduces the carbon emissions of covered industries, but has limited impact on other industries.•In the long run, the emission reduction capacity of carbon tax is slightly greater than that of carbon trading mechanism.
Carbon tax and carbon emission trading are used as emission reduction strategies. This paper re-analyzes the differences between the carbon tax and carbon trading by applying a recursive dynamic computable general equilibrium model, called the CEEEA (China Environmental-Energy-Economy Analysis) model. Unlike previous literature, we make the gross domestic product an exogenous variable and explore different effects between carbon tax mechanism and carbon trading mechanism on the environment, energy, and economy. Given a constant GDP effect, both carbon trading and carbon tax have strong emission reduction capacity, but the relative emission reduction efficiency of the carbon tax is higher than that of carbon trading. This advantage increases over time. Carbon trading has a certain negative effect on the output of the energy industry, and also on the output of other energy-intensive industries involving in carbon trading. After considering the various invisible costs of establishing a new carbon trading market, this paper recommends that China could directly levy a carbon tax on energy enterprises, or just increase the production tax on fossil fuels to reduce CO2 emissions effectively. In this way, the commodity market can be used for price incentives and thus, achieve the goal of emission reduction.
On December 29, 2017, China's Carbon Trading Scheme (ETS) was officially launched, and it may be the largest emission trading platform in the world. This paper establishes 5 counter-measured ...scenarios based on the recently launched China's national ETS market and constructs a dynamic recursive Computable General Equilibrium model to study the impact of national ETS on the economy, energy, and environment. We find that the national ETS will have a negative impact on GDP by 0.19%–1.44%. The national ETS can significantly increase the price of electricity, however, the increase in the prices of other commodities will be much lower than that of electricity. As long as the mechanism of the ETS market remains unchanged, emission reduction per year will increase linearly. Economic output and CO2 emission are sensitive to Annual Decline factor (ADF). This paper argues that China's national ETS market is an effective tool to reduce CO2 emission, and we suggest that ADF could be 0.5% when allocating carbon allowance for the electricity sector. This could balance economic output and CO2 reduction. Also, it is easy to achieve the goal of “double control” (total amount and intensity) in China.
•China's national ETS can significantly increase the price of electricity.•The emission reduction effect of China's national ETS will be very significant.•China's carbon intensity goal will be easily attained with a national ETS.•Carbon trading market can enable China to achieve the goal of “double control”.
•Carbon price between $10 and $20 is the best option for China’s national ETS.•Output of energy industries is more sensitive to ETS price than other industries.•Low carbon price levels are ...meaningless for emissions reductions.•Appropriate subsidy for clean energy generation under ETS the market is necessary.
The problems of excessive CO2 emissions and global warming caused by human activities are becoming more and more severe. Emission Trading Scheme (ETS) may be an effective mean of combating global warming. However, little research focuses on the influence of ETS price on energy consumption, CO2 emissions, and the economy. This paper analyzes the impact of different ETS price level by applying a dynamic recursive Computable General Equilibrium model. The results show that GDP will reduce more with increasing ETS price level. The output of energy industries is more sensitive to ETS price than other industries. Higher ETS price, lower marginal reduction of fossil energy consumption of ETS price. Moreover, low ETS prices will undermine the capacity of the carbon market to reduce emissions. Higher ETS price will lead to a higher reduction in CO2 emission, but the economic costs cannot be ignored. Therefore, this paper argues that ETS prices in China’s ETS pilot cities are too low, and would provide little emission reduction. Maintaining ETS prices at $10 and gradually increasing carbon price to $20 is suggested in this paper. Also, we should focus on the appropriate subsidies for new energy generation.
To compare the axial length (AL), anterior chamber depth (ACD) and intraocular lens power (IOLP) of IOLMaster and Ultrasound in normal, long and short eyes.
Seventy-four normal eyes (≥ 22 mm and ≤ 25 ...mm), 74 long eyes (> 25 mm) and 78 short eyes (< 22 mm) underwent AL and ACD measurements with both devices in the order of IOLMaster followed by Ultrasound. The IOLP were calculated using a free online LADAS IOL formula calculator.
The difference in AL and IOLP between IOLMaster and Ultrasound was statistically significant when all three groups were combined. The difference in ACD between IOLMaster and Ultrasound was statistically significant in the normal group (P<0.001) and short eye group (P<0.001) but not the long eye group (P = 0.465). For the IOLP difference between IOLMaster and Ultrasound in the normal group, the percentage of IOLP differences <|0.5|D, ≥|0.5|D<|0.75|D, ≥|0.75|D<|1.0|D, and ≥|1.0|D were 90.5%, 8.1%, 1.4% and 0%, respectively. For the long eye group, they were 90.5%, 5.4%, 4.1% and 0%, respectively. For the short eye group, they were 61.5%, 23.1%, 10.3%, and 5.1%, respectively.
IOLMaster and Ultrasound have statistically significant differences in AL measurements and IOLP (using LADAS formula) for normal, long eye and short eye. The two instruments agree regarding ACD measurements for the long eye group, but differ for the normal and short eye groups. Moreover, the high percentage of IOLP differences greater than |0.5|D in the short eye group is noteworthy.
The computable general equilibrium (CGE) model is a good instrument for counterfactual analysis. This kind of model is widely used in energy and environmental economics. However, the CGE models used ...in different studies vary greatly. As the construction of the model is a massive project, and some model settings may be wrong, it is easy to get unreasonable equilibrium solutions. Another, the code and data of most CGE models are not transparent. This paper aims to break the barrier of the CGE model criticized as “black box” and provide researchers with a CGE model with available code and data: China Energy-Environment-Economic Analysis 2.0 (CEEEA2.0) model. Taking carbon tax and energy tax as examples, this paper analyzes the impact of carbon neutrality constraints on China from 2018 to 2060. Compared with the traditional CGE model, this paper describes energy and carbon emissions more closely, couples the environmental cost into the model more scientifically and the embodied carbon emissions in trade, and provides novel counterfactual analysis strategies. In addition, this paper introduces how to extend and adjust the model to facilitate the majority of modelers to build a CGE model according to different needs.
•China Energy-Environment-Economic Analysis 2.0 (CEEEA2.0) model with data and code.•A dynamic recursive CGE model embodied carbon emissions is presented.•Enterprises' response to energy policies has been better simulated.
Intense volcanic and geothermal activities characterize the Great Rift Valley of East Africa. Ground fissure disasters of the Great Rift Valley have garnered increasing attention in recent years. ...Through field investigations, trenching, geophysical exploration, gas sampling and analysis, we determined the distribution and origin of 22 ground fissures within the Kedong Basin of the Central Kenya Rift. These ground fissures caused varying degrees of damage to roads, culverts, railways, and communities. Trenching and geophysical exploration have shown that ground fissures in sediments are connected to rock fractures with gas escaping. The gases expelled from the rock fractures contained methane and SO
, which were absent in the normal atmosphere, and
He/
He ratios in gases measured further indicated that the volatiles were derived from the mantle, suggesting that these rock fractures extended deep into the underlying bedrock. Spatial correlations with rock fractures demonstrate the deep origin of these ground fissures, which are associated with active rifting, plate separation, and volcanism. The ground fissures are formed due to movement on the deeper rock fractures, and then the gas escapes through the fissures. Determining the unusual origin of these ground fissures can not only guide infrastructure development and urban planning but also contribute to the safety of local communities.
•A modified dynamic recursive CGE model is constructed.•Renewable energy growth is considerable only if ETS revenue is used.•Broader renewable energy subsidies are better than ones with narrow ...scope.•A small part of ETS revenue should be used to subsidize residents for social stability.
Emission Trading Scheme (ETS) and renewable energy generation are emission reduction methods in most countries in the world. However, few studies have focused on the impact of ETS on renewable energy. The question is, can carbon trading promote renewable energy generation? This paper first analyzes different distribution strategies of ETS revenue by applying dynamic recursive computable general equilibrium model with multi-sectors. Practical scenarios and better options of distribution of ETS revenue by a comprehensive evaluation based on entropy weight method are proposed. The results show that ETS with no subsidy to renewable will reduce the demand for energy, increase the cost of renewable energy sources and decrease the generation. ETS will be the spring of renewable energy generation when most of the revenue is used for all kinds of renewable energy sources, instead of some of them. The growth of renewable energy generation is also substantial. It is necessary that a small portion of ETS revenue should be used to subsidize residents to reduce the gap between the rich and the poor. If this income is used for government investment and consumption, it will also help to mitigate economic losses, which is caused by the direction of investment by the Chinese government.
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