Effects of the Digital Economy on Reducing Carbon Emissions in China’s Energy-Intensive Manufacturing Enterprises

Abstract

The energy-intensive manufacturing industry is a significant contributor to carbon emissions, necessitating urgent measures to reduce its carbon footprint. The advent of the digital economy has engendered a milieu conducive to the decarbonization of energy-intensive manufacturing enterprises. This paper utilizes panel data from A-share listed energy-intensive manufacturing enterprises in China from 2012 to 2024 to empirically analyze the impact of the digital economy on carbon abatement performance. The findings reveal the following: First, the digital economy has a significant effect on enhancing the carbon emission reduction performance of energy-intensive manufacturing enterprises. Second, total factor productivity, R&D investment, and technology innovation have partial mediating effects in this relationship. Third, heterogeneous effects exist across enterprises of six major energy-intensive industries. Fourth, the carbon reduction effect of the digital economy is more significant in central and western regions compared to eastern regions in China. These results underscore the importance of accelerating digital transformation and formulating diversified policies predicated on industries and regions to facilitate the realization of China’s “dual carbon” goals.