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Chinese Journal of Management Science ›› 2025, Vol. 33 ›› Issue (6): 322-334.doi: 10.16381/j.cnki.issn1003-207x.2022.2715

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Low-carbon Behavior Decision of Chemical Enterprises Based on Carbon Trading and Green Credit

Tingqiang Chen1,2, Wenjuan Lin1, Lei Wang1, Lean Yu3()   

  1. 1.School of Economics and Management,Nanjing Tech University,Nanjing 211816,China
    2.School of Economics and Management,University of Chinese Academy of Sciences,Beijing 100190,China
    3.Business School,Sichuan University,Chengdu 610065,China
  • Received:2022-12-18 Revised:2023-05-11 Online:2025-06-25 Published:2025-07-04
  • Contact: Lean Yu E-mail:yulean@amss.ac.cn

Abstract:

As countries around the world attach importance to low-carbon economy, in order to effectively reduce carbon emissions, governments have implemented a variety of carbon policies including carbon tax, carbon trading market mechanism and low-carbon subsidies, and established a carbon emissions trading market. Carbon dioxide and other greenhouse gases are the main causes of global warming, and the chemical industry has a significant high energy consumption, high pollution, high carbon emissions of the “three high”characteristics, so in China to carry out carbon peak, carbon neutralization action and the construction of carbon emissions trading market in the chemical industry should also be the focus of the field. As the main financial service subject supporting the “double carbon” goal of the chemical industry, commercial banks are facing the “three high” characteristics of the chemical industry. How to set the green credit delivery standard has become the key to the financial service and support of the “double carbon” goal.From the perspective of green credit master-slave game crossover, considering the carbon trading standards formulated by the government, a Stackelberg game model of credit behavior between commercial banks and chemical enterprises under the carbon quota trading policy is constructed, in which commercial banks are the leaders and chemical enterprises are followers. The optimal decisions of each decision-maker in three situations ( chemical enterprises actively reduce emissions and sell surplus carbon emission quotas, chemical enterprises negatively reduce emissions and purchase carbon emission quotas, chemical enterprises negatively reduce emissions but do not purchase carbon emission quotas ) are mainly discussed. By comparing the profit functions under different modes, the influence of carbon trading price and carbon quota standard on the behavior decision-making of chemical enterprises and commercial banks is analyzed. Finally, the influence mechanism of carbon trading price, carbon quota standard and green credit policy on the low-carbon optimal decision-making of chemical enterprises is deeply explored by numerical simulation, and the theoretical analysis part of this paper is further verified.The results show that (1)when the carbon trading price is higher than a certain critical value, chemical enterprises can obtain higher profits when they implement strict carbon emission strategies and actively trade in the carbon trading market, and the profits of commercial banks also increase at this time, which is in line with the government 's green planning standards. (2)Too low or too high carbon emission quotas are not conducive to chemical enterprises to actively carry out green technology innovation. When the carbon emission quota is too high, chemical enterprises are more willing to purchase carbon quotas in the carbon trading market.(3) Under the joint action of carbon trading price and carbon emission quota, when the carbon price is high, the carbon emission quota will bring more profits to the chemical enterprises with strict emission reduction when it is higher than a certain critical value. Commercial banks are also more willing to give green credit, and the total social welfare is optimal.

Key words: green credit, Stackelberg, carbon trading, chemical enterprises, low carbon standard

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