Goals on the road: institutional innovations in carbon peak and carbon neutrality

ABSTRACT A low-carbon economy is not only vital to human survival but also to national energy security. The dual goals of carbon emission include those of a carbon peak and carbon neutrality, which are necessary for realizing new development patterns and promoting high-quality development in China. This study is focused on the innovation mechanism as applied to the dual goals of carbon emission, and two issues are considered – the overall carbon peak and carbon neutrality situation from resource tax and power reform perspective and the construction of a long-term mechanism to address environmental threats, such as smog. The continuous use of endogenous mechanisms to regulate the production and consumption behaviors of enterprises and people, as well as the means by which China may fully use its economic power to promote green, low-carbon, sustainable development are emphasized and analyzed.