Figure 4
From: The energy conservation and emission reduction co-benefits of China’s emission trading system

Dynamic co-benefits. (1) d_3: 3 years before the implementation of the policy; d_2: 2 years before the implementation of the policy; d_1: 1 year before the implementation of the policy. (2) d1: 1 year after the implementation of the policy; d2: 2 years after the implementation of the policy; d3: 3 years after the implementation of the policy.