Evaluating carbon emission efficiency of China’s high-emission firms based on the SBM-DEA model

This study applies a non-radial slacks-based measure data envelopment analysis (SBM-DEA) model to evaluate the carbon emission efficiency of 81 listed high-emission firms during the period from 2020 to 2023. The analysis further investigates heterogeneity in efficiency across industry sectors, geographic regions, and ownership structures. The results reveal several important findings: (1) carbon emission efficiency initially improved following the introduction of the dual carbon goals, but subsequently declined, indicating that although progress has been made, substantial potential for further enhancement remains; (2) significant inter-industry disparities in efficiency are observed; (3) foreign-controlled firms and central state-owned firms exhibit higher average efficiency than local state-owned firms and private firms. Based on these findings, the study offers policy recommendations for improving overall carbon emission efficiency and supporting China’s transition to a low-carbon economy.