Embodied CO2 emissions of equity portfolios for Chinese asset managers.

The 2015 Paris Agreement has set out the climate change target of limiting global warming to 1.5 °C, which poses a serious challenge to countries to reduce emissions. As the world's largest carbon emitter, promoting the realization of the "dual-carbon" goal is the key to realizing China's green transformation and high-quality development. Chinese asset managers play active roles in the capital market as an important channel of asset allocation. Currently, the vast majority of Chinese asset managers hold high percentages of high-carbon industries in their portfolios, and lack quantitative data of their carbon footprints embodied in equity investments, which faces huge carbon-related risks. Therefore, it's an urgent need to comprehensively and scientifically measure financed emissions of Chinese asset managers, which is of great significance for asset managers' carbon risk management and sustainable investment. This paper develops a detailed inventory of carbon emissions for equity portfolios managed by Chinese asset managers from 2010 to 2020, which stands as a pivotal reference for in-depth analysis of emission characteristics.

How does the Internet enhance the subjective well-being of elderly individuals in China?

Although several studies have explored the relationship between the Internet and elderly individuals, little is known about whether and how the Internet affects elderly individuals' subjective well-being (SWB) from multiple perspectives. This study examines the effects of the Internet on physical satisfaction and life satisfaction and explores the potential mechanisms by which the Internet produces its effects on elderly individuals. Using nationally representative data from the China General Social Survey (CGSS), this study finds that the Internet has a significant positive impact on physical satisfaction and life satisfaction of the elderly in China. The mechanism analysis shows that the Internet can improve the level of health insurance participation, which we interpret as potential mechanisms through which the Internet positively affects physical satisfaction among elderly individuals. Correspondingly, the Internet affects life satisfaction of elderly individuals by influencing social networks. Further heterogeneity tests find that the effect is stronger for urban areas, male and high human capital samples. This study highlights the important micro effects of the Internet and provides a reference for exploring the mechanism of the Internet affecting SWB.