Abstract: This paper studies the decision of the dual-channel supply chain when considering carbon emission reduction under carbon labelling system. With considering consumer’s low-carbon preference, the paper builds three models：both the manufacturer and the retailer are risk neutral, both the manufacturer and retailer are risk aversion, only manufacturer or only retailer is risk aversion. The results show that the efforts of manufacturer’s carbon emission reduction and the final sales price are both inversely proportional to the retailer's risk aversion, but the first one is directly proportional to the manufacturer's risk aversion, the latter is not always. When the manufacturer is risk neutral and retailer risk aversion, the effort of manufacturer’s carbon emission reduction is the largest, but the minimum when manufacturer is risk aversion and retailer is risk neutral. This paper also shows that the manufacturer make a decision, it must combine the degree of risk aversion and its proportion in the market demand.

Key words: carbon labelling system, risk aversion, dual-channel, carbon emission reduction

摘要： 在碳标签制度背景下，考虑了风险规避和制造商碳减排情况下双渠道供应链中供应链各成员的决策问题。考虑消费者低碳偏好，探讨了三种情形：制造商和零售商均为风险中性、制造商和零售商均风险规避、制造商和零售商单独一方风险规避。结果表明制造商的碳减排努力和最终销售价格均与制造商的风险规避系数成反比，制造商的碳减排努力与零售商的风险规避系数成正比，而最终销售价格却并不总与其成正比；制造商风险中性、零售商风险规避时制造商的减排努力最大，制造商风险规避、零售商风险中性时制造商的减排努力最小；同时还表明，制造商在减排决策时要综合考虑制造商自身和零售商的风险规避程度以及双方在市场需求中所占的比例。

关键词: 碳标签制度, 风险规避, 双渠道, 碳减排