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In order to cope with climate change, many countries and regions implement carbon emission reduction through market transaction and technological innovation. However, there are only few empirical studies on the relationship between these strategies. This paper uses 820,000 pieces of patent application data from 2005 to 2018 in China, and takes the region and time point of whether to implement carbon emissions trading as the demarcation point. It studies the impact of carbon emissions trading on climate change patent application based on the double difference model. The results demonstrate the following: (1) The implementation of carbon trading in China has a negative impact on the quantity and quality of climate change patent application and authorized patents. (2) The application entities and the number of applicants are affected by heterogeneity. Individuals, enterprises and colleges have all been negatively affected, and the negative impact on separate application is greater than that on the cooperative application. In view of this, we propose some suggestions as follows: (1) Various strategies should be designed properly, so that they each have their own emphasis and promote emission reduction in coordination. (2) Different regions adopt different strategies according to their emission reduction targets and their real conditions. (3) It is necessary to enhance public opinion guidance and publicity, and encourage emission reduction through technological innovation. This study can deepen the understanding of the relationship among various emission reduction strategies, and provide reference for the practical work of carbon emission reduction.

Currently European Union Allowances (EUA) and secondary Certified Emission Reduction (sCER) have become two dominant carbon trading assets for investors and their linkage attracts much attention from academia and practitioners in recent years. Under this circumstance, we use the empirical mode decomposition (EMD) approach to decompose the two carbon futures contract prices and discuss their correlation from the multi-frequency perspective. The empirical results indicate that, first, the EUA and sCER futures price movements can be divided into those triggered by the long-term, medium-term and short-term market impacts. Second, the price movements in the EUA and sCER futures markets are primarily caused by the long-term impact, while the short-term impact can only explain a small fraction. Finally, the long-term (short-term) effect on EUA prices is statistically uncorrelated with the short-term (long-term) effect of sCER prices, and there is a medium or strong lead-and-lag correlation between the EUA and sCER price components with the same time scales. These results may provide some important insights of price forecast and arbitraging activities for carbon futures market investors, analysts and regulators.

This paper mainly studies the impact of carbon emission trading policies on carbon dioxide emission intensity. Panel data from 30 provinces (municipalities) from 2005 to 2017 are selected, and the research methods of propensity matching (PSM) and difference method (DID) are used. It is found that the implementation of the carbon emission trading rights policy has a significant impact on carbon dioxide emissions. Compared with the pilot areas, the carbon emission trading rights policy can significantly reduce the carbon dioxide emission intensity in the pilot areas. Given this, on the one hand, it can be shown that certain emission reduction policies have a positive impact on reducing carbon dioxide emissions. On the other hand, it has certain practical significance for the unification of carbon dioxide emission rights in China and realizing China’s dual carbon goals.