企业层面的二氧化碳排放和生产网络：来自智利行政数据的证据（英）

BISWorking Papers are written by members of the Monetary and EconomicDepartment of the Bank for International Settlements, and from time to time by othereconomists, and are published by the Bank. The papers are on subjects of topicalinterest and are technical in character. The views expressed in them are those of theirauthors and not necessarily the views of the BIS.This publication is available on the BIS website (www.bis.org).©Bank for International Settlements 2025. All rights reserved. Brief excerpts may bereproduced or translated provided the source is stated.ISSN 1020-0959 (print)ISSN 1682-7678 (online) Firm-level CO2 Emissions and Production Networks:Evidence from Administrative Data in Chile∗Pablo Acevedo†El´ıas Albagli‡Gonzalo Garc´ıa-Trujillo§Mar´ıa Antonia Yung¶July 4, 2025AbstractThis project uses unique Chilean administrative data to shed light on how productionnetworks might play a key role in shaping the macroeconomic impacts of green transitionpolicies. First, using customs and firm-to-firm transaction data that covers the universeof firms in Chile, we build the fossil fuel consumption and the direct CO2 emissionsat the firm, sectoral, and aggregate levels. In line with the official national sources,the electricity generation sector is the most important contributor to aggregate CO2emissions, followed by the manufacturing, transport, and mining sectors. Then, westudy the role of input-output linkages in propagating CO2 emissions to the rest of theeconomy. To do so, we construct the production network and the carbon footprint atthe firm level using firm-to-firm transaction data from the Chilean IRS, and we validateour results with the input-output tables approach used in the literature. The resultsshow that the electricity generation sector is central in the network, with potentiallyimportant downstream spillover effects, while the mining sector is located in the outerpart of the network with rich upstream connections. Also, we show that the coppermining industry is the most exposed one to a carbon tax scheme implemented on all thefirms in the economy and also to one that only targets the electricity generation sector.∗The views expressed are those of the author and do not necessarily represent the views of the CentralBank of Chile or its board members. The CBC has access to anonymized information from various publicand private entities, by virtue of collaboration agreements signed with these institutions.†Central Bank of Chile. Email: pacevedo@bcentral.cl.‡Central Bank of Chile. Email: ealbagli@bcentral.cl.§Central Bank of Chile. Email: ggarciat@bcentral.cl.¶Central Bank of Chile. Email: myung@bcentral.cl. 1IntroductionIn order to achieve the commitments of CO2 emissions reduction established in the ParisAgreement 2015, economies worldwide are accelerating the decarbonization process byimplementing mitigation policies such as carbon taxes. The impacts of such transition areexpected to be heterogeneous among industries and firms with potential aggregate effectsdepending on the role that the targeted firms play in the economy.Motivated by this context, this project aims to provide a better understanding of how themacroeconomic impacts of green transition policies, such as a carbon tax, can be shaped bythe input-output linkages in the economy.To do so, first, we start building the primary fossil fuels consumption base as the totalimports of fossil fuels using Chilean customs data at a monthly frequency.1Then, to accountfor the fact that an important fraction of the imported fossil fuels in Chile corresponds tocrude oil that is refined and transformed into other types of fuels (e.g., gasoline), we use theChilean IRS firm-to-firm transaction data to identify each type of fossil fuel that is refinedand sold to the firms in the economy.2 This allows us to build the consumption base offossil fuels that will be burned by firms and households in Chile every month and to applyCO2 emission factors to each type of fossil fuel. We use the emission factors reported by theIntergovernmental Panel on Climate Change (IPPC) to do the latter.This is the first result and contribution of this paper: we build monthly data series forfossil fuel consumption and direct CO2 emissions at the aggregate and sectoral levels, as wellas disaggregated data for each type of fossil fuel, for the period January 2005 - December2022. In order to construct these series and avoid double counting issues, we identify the firmsthat burn fossil fuels in the firm-to-firm transaction data as those that satisfy two conditions:i) they purchase at least one type of fossil fuel to use it as an input at their productionstage, ii) their output is not a fossil fuel. Our results show that the electricity generation,1In Chile, the total primary consumption is well approximated by fossil fuel imports because around 95%of the total fossil fuels that is burned is imported.2To secure the privacy of workers and firms, the CBC mandates that the develo