We use facility-level panel data on CO₂ emissions to investigate within-firm carbon leakage associated with Japanese regional emission trading systems (ETSs) at large-scale facilities in Tokyo and Saitama prefectures. A difference-in-difference analysis reveals that, relative to entities with no facility under ETSs, entities with regulated facilities have reduced emissions not only from these regulated facilities but also from unregulated facilities outside Tokyo/Saitama. This result indicates that regional ETSs serve as a turning point for entities to bridge the energy-efficiency gap. The data also suggest that a larger entity is more capable of reducing emissions from facilities in regions with less stringent regulations.

我们使用有关 CO ₂排放的设施级面板数据来调查与东京和埼玉县大型设施中日本区域排放交易系统 (ETS) 相关的公司内部碳泄漏。差异分析表明，相对于在 ETS 下没有设施的实体，拥有受管制设施的实体不仅减少了这些受管制设施的排放，而且减少了东京/埼玉以外不受管制设施的排放。这一结果表明，区域 ETS 是实体弥合能效差距的转折点。数据还表明，较大的实体更有能力减少法规不太严格的地区设施的排放。