经济与金融系学术讨论会第192期

题目：Futureproofing Against Climate Regulatory Risk

演讲人：张林（香港城市大学 长聘副教授）

时间：2023年12月6日（周二）14:00-15:00

地点：同济大厦A楼306室

同步#腾讯会议：690845903

会议密码：848098

链接：https://meeting.tencent.com/dm/aHsAdo4WAvqg

摘要：

This article investigates two primary corporate climate strategies—relocation through outward direct investment (ODI) and green innovation. Using a staggered difference-in-differences approach, we compare ODI and green innovation of MNEs subject to emissions trading systems (ETS) with those that are unregulated. Our findings reveal no evidence of investment leakage to other parts of the world, as MNEs do not alter their ODI in response to the ETS. This outcome holds true even when focusing on MNEs in high-pollution industries and host countries with lenient climate policies. However, we discover significant evidence that MNEs, particularly those with a robust innovative culture and facing regulatory pressures, filed more green patent applications following the ETS implementation. Green innovation is a more economically attractive strategy than ODI. Our results suggest that MNEs choose green innovation over production relocation in response to climate regulations, signaling a regime shift in climate adaptation strategies in China.

个人简介：

张林博士，男，香港城市大学副教授，博士生导师，终身教职；国际能源经济学会（IAEE）理事会理事；香港旅游局国际会议大使；The Energy Journal候任主编； NSFC/RGC联合科研项目首席科学家。曾任瑞士苏黎世联邦理工经济研究中心高级研究员。张林博士长期从事能源经济学、可持续发展、能源转型、绿色增长与创新等研究工作。根据斯坦福大学排名，张林博士位列世界前2%科学家之列。在《经济研究》，Journal of Environmental Economics and Management，European Economic Review等中英文顶级期刊发表诸多论文。