Abstract:In the context of the dual subsidy to low-carbon marketing, a two-echelon supply chain consisting of manufacturers and retailers is considered to research on the emission reduction and low-carbon marketing problem. This paper develops an evolutionary game model,and proposes evolutionary stable strategies of investments in promoting low-carbon product flow for upstream and downstream firms. The results show that investment strategies of manufacturers and retailers are related to the ratio of input-output and government subsidy, When the input-output ratios and government subsidy of both parties in supply chains change,some evolutionarily stable equilibrium is found. If manufacturers provide an appropriate low-carbon marketing subsidy, retailers will not become “free riders”.