Towards Low-Carbon Economy by Carbon Label?: Survey Evidence from China

Abstract

The promotion of carbon label is of great significance to the low-carbon transition and achieve carbon neutrality. However, China ’s carbon labeling system is at an initial stage and consumers’ attitude towards carbon-labelled products is still unknown. This paper seeks to explore consumers' willingness to pay for different types of carbon-labelled products as well as its influencing factors. To fulfil this goal, we design and conduct a random questionnaire survey in four first-tier cities in China (Beijing, Shanghai, Guangzhou, Shenzhen). The results show that carbon-labelled products have good market prospects in China. Consumers' premium willingness to pay for carbon-labelled food, electronic, textile, and other consumer products is 8.43%, 8.5% 7.95%, and 8.33% of the original price, respectively. Besides, respondents with the highest willingness to pay a premium for carbon-labelled products are mainly concentrated in the age group of 41-50, or males, or family with underaged children. On the basis of the findings, some policy suggestions are proposed to provide references for the pricing and promotion of carbon-labelled products in China and other countries.

Keywords: carbon label, low-carbon consumption, willingness to pay, Green Economy