4.7 Article

Does the EU emissions trading system help reduce PM2.5 damage? A research based on PSM-DID method

Journal

ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
Volume 29, Issue 16, Pages 23129-23143

Publisher

SPRINGER HEIDELBERG
DOI: 10.1007/s11356-021-17640-x

Keywords

EU ETS; PM2 5 damage; PSM; DID method; Synergistic governance

Funding

  1. Humanities and Social Science Research Project of the Ministry of Education of China [20YJC630138]
  2. Anhui Natural Science Foundation [2008085QG345]
  3. Fundamental Research Funding for Central Universities of China [WK2040000023]
  4. New Liberal Arts Fund of University of Science and Technology of China [YD2040002010]
  5. National Natural Science Foundation of China [71974177]

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This paper examines the spillover effect of the EU ETS on PM2.5 damage reduction using the PSM-DID method and WDI database, finding that the EU ETS promotes the reduction of PM2.5 damage and has a dynamic effect on PM2.5 damage reduction in different phases of implementation. The robustness test results also confirm the highly reliable research conclusions.
Air quality issues, especially haze pollution, have become an important aspect that threatens the sustainable development and health of human beings. Previous studies on the environmental effects of emissions trading system (ETS) mainly focused on carbon emission reduction, instead of focusing on the synergistic governance effect between carbon emission and PM2.5 reduction. Based on the PSM-DID method and the World Development Index (WDI) database, this paper examines whether the EU ETS has a spillover effect on PM2.5 damage reduction, and discusses the related impact mechanisms. The research results show that the EU ETS promotes the reduction of PM2.5 damage, and in different phases of implementation, the impact of the EU ETS on the reduction of PM2.5 damage has a dynamic effect. The robustness test results also show that the research conclusions of this paper are highly reliable. Finally, this paper gives relevant policy suggestions, which can encourage countries to achieve carbon emission reduction targets while helping to reduce PM2.5 damage, and eventually achieve a win-win situation between economic growth and environmental improvement.

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