Do provincial energy policies and energy intensity targets help reduce CO2 emissions? Evidence from China

The effects of Chinese local governments' energy policies and top-down target management on CO2 emissions have received little attention to date. The current study uses 18 years of panel data from Chinese provinces to empirically investigate the impacts of provincial circular economy development policies, energy saving policies, comprehensive resource utilization policies, and energy intensity targets set by the central government on CO2 emissions. The results indicate that provincial circular economy development policies and energy intensity targets are conducive to reducing CO2 emissions, while provincial energy saving policies and comprehensive resource utilization policies have no significant impact. The findings confirm the effectiveness of China's target management tools in addressing climate change, and provide guidance for local governments on actively implementing local policies to promote local CO2 emission reduction.