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Impacts of Cross-Sectoral Climate Policy on Forest Carbon Sinks and Their Spatial Spillover: Evidence from Chinese
Hongge Zhu1, Yingli Cai1, Hong Lin2
1College of Economics and Management, Northeast Forestry University, Harbin 150040, China.
Abstract:
This paper examines the impact of cross-sectoral climate policy on forest carbon sinks. Due to the complexity of the climate change issue and the professional division of labor among government departments, cross-sectoral cooperation in formulating climate policy is a desirable strategy. Forest carbon sinks play an important role in addressing climate change, but there are few studies focusing on forest carbon sinks and cross-sectoral climate policies. Thus, based on the panel data of 30 provinces and cities in China from 2007 to 2020, this paper establishes a benchmark regression model and a spatial panel model to analyze the impact of cross-sectoral climate policies on forest carbon sinks. We find that cross-sectoral climate policies positively impact forest carbon sinks. Under the influence of the "demonstration effect", we find that cross-sectoral climate policies have a positive impact not only on the forest carbon sinks in the region but also on those in the neighboring region. Further analysis shows that for provinces with less developed forestry industry and small forest areas, the positive effect of cross-sectoral climate policies on forest carbon sinks is more obvious. Overall, this paper can serve as an important reference for local governments to formulate climate policies and increase the capacity of forest carbon sinks.
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