Constructing Carbon Abatement Cost Curves
构建了一个通用模型来绘制企业的碳减排成本曲线，并以欧洲水泥企业为例，发现每吨85欧元的碳价能激励企业减少约三分之一的年直接排放，而价格超过每吨100欧元时激励会急剧增加。
ABSTRACT Companies across industries face increasing pressure to assess the costs of decarbonizing their operations. This paper develops a generic model for constructing abatement cost curves in connection with carbon dioxide emissions. The resulting abatement cost curves provide a planning tool for companies seeking to project their decarbonization pathways and to determine optimal abatement levels in response to environmental regulations such as carbon pricing. We calibrate our model in the context of European cement producers that are required to obtain emission permits under the European Emissions Trading System. We find that a price of €85 per ton of carbon dioxide, as observed on average in 2023, incentivizes firms to reduce their annual direct emissions by about one-third relative to the status quo. Yet, this incentive increases sharply when prices rise above the benchmark of €100 per ton of carbon dioxide. Data Availability: Data used in this study are referenced in the paper and the Appendix. Data underlying the plots are provided in a supplemental material file Constructing Abatement Cost Curves - Supplementary Data.xlsx. Additional information is available upon request to the first and third authors. JEL Classifications: M41; M48; Q54; Q56.