The effectiveness of dual regulation and synergistic governance of market-incentivized carbon reduction policies and public environmental supervision: a study based on the sustainable development performance of listed companies in China

• DOI: 10.3389/frevc.2024.1326960
• Publication Date: 2024-04-05T04:55:55Z
• Authors: Jiahe Chen; Wenhao Yu
• Keywords: Environmental sciences; synergistic effect; ESG; 0502 economics and business; 05 social sciences; environmental governance; GE1-350; citizen supervision; carbon market pilot

Introduction In the current background of global economic slowdown, traditional reliance on one regulatory instrument or unilateral consideration effectiveness policy in formulation is no longer sufficient to cope with increasingly complex contradictions between environmental protection and development. construction a modernized governance system, it has become an inevitable choice achieve synergy various regulations. China, citizens' supervision campaign that gradually emerged 2006 local carbon trading pilots started 2013, as typical representatives informal formal regulation respectively, provide vivid realistic materials for our study. Methods Using econometric models microdata from listed Chinese firms 2009 2020, we analyze profound logic internal mechanism by which this synergistic effect affects society development pattern firms. Results discussion The study found that: (1) can significantly promote transition enterprises sustainable model, especially paying attention role process. (2) regional level, cost transfer capability, political connection make two regulations vary across (3) promotes behavior line requirements influencing enterprises' R&D innovation investment, resource allocation efficiency, awareness. (4) A favorable rule law environment moderate media effectively increase intensity supervision, at same time strengthen transformation enterprises.