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This paper seeks to explore arguments for the importance of disruptive innovation to China's low‐carbon transition, while such innovation is generally overlooked and/or belittled.

The paper builds on the multi‐level perspective (MLP) of systems transitions being developed by interdisciplinary scholars regarding low‐carbon innovation to explore the multiple opportunities regarding disruptive innovation in the case of China.

This exploration details that at the levels of business strategy, national economic development and governance of a transition to ecological sustainability, there is a strong prima facie case that disruptive innovation offers singular opportunities in China regarding low‐carbon innovation, while a focus on hi‐tech innovation alone is unlikely to effect the radical systems transition needed.

Acknowledging and incorporating such opportunities is thus to be encouraged, both in China and elsewhere, including in the formulation of low‐carbon innovation policy. A concerted research programme for ongoing and iterative “second‐order” learning about concrete examples of disruptive low‐carbon innovation is advocated.

The increased opportunities for dispersed social involvement in a low‐carbon transition through disruptive innovation are discussed.

The paper offers a novel synthesis of diverse literatures to advocate a significantly different approach to low‐carbon innovation than is evidenced in current policy and policy discourse.

This paper aims to promote urban–rural synergy in carbon reduction and achieve the dual carbon goal, reconstruct the low-carbon urban–rural spatial pattern and explore planning strategies for carbon mitigation in urban agglomerations.

The authors propose the idea of land governance zoning based on low-carbon scenario simulation, using the Beijing–Tianjin–Hebei (BTH) urban agglomeration as the empirical research area. Specifically, the authors analyze its spatiotemporal evolution characteristics of carbon balance over the past two decades and simulate the land use pattern under the scenario of low-carbon emission in 2030. Furthermore, the authors create spatial zoning rules combined with land use transition characteristics to classify the urban agglomeration into carbon sink restoration zone, carbon sink protection zone, carbon control development zone and carbon transition agriculture zone and put forward corresponding targeted governance principals.

The study findings classify the BTH urban agglomeration into carbon sink restoration zone, carbon sink protection zone, carbon control development zone and carbon transition agriculture zone, which account for 28.1%, 17.2%, 20.1% and 34.6% of the total area, respectively. The carbon sink restoration zone and carbon sink protection zone are mainly distributed in the northern and western parts and Bohai Rim region. The carbon transition agriculture zone and carbon control development zone are mainly distributed in the southeastern plain and Zhangjiakou.

The authors suggest restoring and rebuilding ecosystems mainly in the northwest and east parts to increase the number of carbon sinks and the stability of the ecosystem. Besides, measures should be taken to promote collaborative emission reduction work between cities and optimize industrial and energy structures within cities such as Beijing, Langfang, Tianjin and Baoding. Furthermore, the authors recommend promoting sustainable intensification of agriculture and carefully balance between both economic development and ecological protection in Zhangjiakou and plain area.

The authors propose a zoning method based on the optimization of land use towards low-carbon development by combining “top-down” and “bottom-up” strategies and provide targeted governance suggestions for each region. This study provides policy implications to implement the regional low-carbon economic transition under the “double carbon” target in urban agglomerations in China.

Global climate change is a serious threat to the survival and development of mankind. Reducing carbon emissions and achieving carbon neutrality are the keys to reducing greenhouse gas emissions and promoting sustainable human development. For many countries, taking China as an example, the electric power sector is the main contributor to the country’s carbon emissions, as well as a key sector for reducing carbon emissions and achieving carbon neutrality. The low-carbon transition of the power sector is of great significance to the long-term low-carbon development of the economy. Therefore, on the one hand, it is necessary to improve the energy supply structure on the supply side and increase the proportion of new energy in the total power supply. On the other hand, it is necessary to improve energy utilization efficiency on the demand side and control the total primary energy consumption by improving energy efficiency, which is the most direct and effective way to reduce emissions. Improving the utilization efficiency of electric energy and realizing the low-carbon transition of the electric power industry requires synergies between the government and the market. The purpose of this study is to investigate the individual and synergistic effects of China’s low-carbon policy and the opening of urban high-speed railways (HSRs) on the urban electricity consumption efficiency, measured as electricity consumption per unit of gross domestic product (GDP).

This study uses a panel of 289 Chinese prefecture-level cities from the years 1999–2019 as the sample and uses the time-varying difference-in-difference method to test the relationship between HSR, low-carbon pilot cities and urban electricity consumption efficiency. In addition, the instrumental variable method is adopted to make a robustness check.

Empirical results show that the low-carbon pilot policy and the HSR operation in cities would reduce the energy consumption per unit of GDP, and synergies occur in both HSR operated and low-carbon pilot cities.

This study has limitations that would provide possible starting points for future studies. The first limitation is the choice of the proxy variable of government and market factors. The second limitation is that the existing data is only about whether the high-speed rail is opened or not and whether it is a low-carbon pilot city, and there is no more informative data to combine the two aspects.

The findings of this study can inform policymakers and regulators about the effects of low-carbon pilot city policies. In addition, the government should consider market-level factors in addition to policy factors. Only by combining various influencing factors can the efficient use of energy be more effectively achieved so as to achieve the goal of carbon neutrality.

From the social perspective, the findings indicate that improving energy utilization is dependent on the joint efforts of the government and market.

The study provides quantitative evidence to assess the synergic effect between government and the market in the low-carbon transition of the electric power industry. Particularly, to the best of the authors’ knowledge, it is the first to comprehend the role of the city low-carbon pilot policy and the construction of HSR in improving electricity efficiency.

The decarbonization of power generation is key to achieving carbon neutrality in China by the end of 2060. This paper aims to examine how green finance influences China’s low-carbon transition of power generation. Using a provincial panel data set as an empirical study example, green finance is assessed first, then empirically analyses the influences of green finance on the low-carbon transition of power generation, as well as intermediary mechanisms at play. Finally, this paper makes relevant recommendations for peak carbon and carbon neutrality in China.

To begin with, an evaluation index system with five indicators is constructed with entropy weighting method. Second, this paper uses the share of coal-fired power generation that takes in total power generation as an inverse indicator to measure the low-carbon transition in power generation. Finally, the authors perform generalized method of moments (GMM) econometric model to examine how green finance influences China’s low-carbon transition of power generation by taking advantage of 30 provincial panel data sets, spanning the period of 2007–2019. Meanwhile, the implementation of the 2016 Guidance on Green Finance is used as a turning point to address endogeneity using difference-in-difference method (DID).

The prosperity of green finance can markedly reduce the share of thermal power generation in total electricity generation, which implies a trend toward China’s low-carbon transformation in the power generation industry. Urbanization and R&D investment are driving forces influencing low-carbon transition, while economic development hinders the low-carbon transition. The conclusions remain robust after a series of tests such as the DID method, instrumental variable method and replacement indicators. Notably, the results of the mechanism analysis suggest that green finance contributes to low-carbon transformation in power generation by reducing secondary sectoral share, reducing the production of export products, promoting the advancement of green technologies and expanding the proportion of new installed capacity of renewable energy.

This paper puts forward relevant suggestions for promoting the green finance development with countermeasures such as allowing low interest rate for renewable energy power generation, facilitating market function and using carbon trade market. Additional policy implication is to promote high quality urbanization and increase R&D investment while pursuing high quality economic development. The last implication is to develop mechanism to strengthen the transformation of industrial structure, to promote high quality trade from high carbon manufactured products to low-carbon products, to stimulate more investment in green technology innovation and to accelerate the greening of installed structure in power generation industry.

This paper first attempts to examine the low-carbon transition in power generation from a new perspective of green finance. Second, this paper analyses the mechanism through several aspects: the share of secondary industry, the output of exported products, advances in green technology and the share of renewable energy in new installed capacity, which has not yet been done. Finally, this study constructs a system of indicators to evaluate green finance, including five indicators with entropy weighting method. In conclusion, this paper provides scientific references for sustainable development in China, and meanwhile for other developing countries with similar characteristics.

This study aims to investigate why companies use the internal price of carbon (IPC) for carbon management.

The authors adopt sustainable transition management theory to design the research and explain the findings of empirical models. The sample includes companies that participated in the Carbon Disclosure Project (CDP) questionnaire survey, derived from 37 countries and regions for the period 2015–2018.

The results first reveal that transition management facilitates an upward adoption trend annually during the study period. Second, the authors find that the proxies for transition management are all correlated with the adoption of the IPC in the predicted direction. Third, the authors identify spatial patterns and driving factors for adoption of the IPC.

This study provides additional insight beyond the limited prior literature in this area. In particular, the findings regarding the influence of physical environment on climate-related decisions have not been documented in extant literature. IPC is expected to interact with and complement external price of carbon for climate change governance. Thus, the exploring results of the paper fill an important gap and pave the way for future study to examine emerging issues in the burgeoning field of carbon accounting for climate change.

Enhanced sustainability performance of the supply-side in all industries, especially of the construction industry (CI), is one of the main pillars of the post-carbon transition in the globalization and post-globalization phases. Focusing specifically on the CI, this chapter emphasises the importance of the post-carbon transition and environmental justice as well as role of the local and global supply-side in the CI in achieving them. Based on an in-depth literature review, this chapter aims to investigate and examine ways of achieving post-carbon transition and environmental justice through enhanced sustainability performance and reduced environmental footprint of the supply-side in the globalization and post-globalization phases. This chapter emphasizes importance of integrated thinking of the post-carbon transition, environmental justice and bio-based industries. Specific focus of this chapter is on the bioeconomy and construction biotechnology as well as on their roles in the post-carbon transition. Post-carbon construction supply chain can support increase in welfare and in competitiveness of the companies in the CI locally and globally. Construction biotechnology and public biodiversity investments, which can have potential for contributing to the post-carbon transition and environmental justice, have been emphasized in this chapter. Furthermore, this chapter provides recommendations on strategies for achieving post-carbon transition and environmental justice in all industries, particularly in the CI, locally and globally. Managers and professionals in all industries, policy makers, academics, nature and future generations can get benefit from this chapter.

Climate change poses risks to society and the demand for carbon literacy within small and medium-sized enterprises is increasing. Skills and knowledge are required for organizational greenhouse gas accounting and science-based decisions to help businesses reduce transitional risks. At the University of Copenhagen and the University of Northern British Columbia, two carbon management courses have been developed to respond to this growing need. Using an action-based co-learning model, students and business are paired to quantify and report emissions and develop climate plans and communication strategies.

This paper draws on surveys of businesses that have partnered with the co-learning model, designed to provide insight on carbon reductions and the impacts of co-learning. Data collected from 12 respondents in Denmark and 19 respondents in Canada allow for cross-institutional and international comparison in a Global North context.

Results show that while co-learning for carbon literacy is welcomed, companies identify limitations: time and resources; solution feasibility; governance and reporting structures; and communication methods. Findings reveal a need for extension, both forwards and backwards in time, indicating that the collaborations need to be lengthened and/or intensified. Balancing academic requirements detracts from usability for businesses, and while municipal and national policy and emission targets help generate a general societal understanding of the issue, there is no concrete guidance on how businesses can implement operational changes based on inventory results.

The research brings new knowledge to the field of transitional climate risks and does so with a focus on both small businesses and universities as important co-learning actors in low-carbon transitions. The comparison across geographies and institutions contributes an international solution perspective to climate change mitigation and adaptation strategies.

The issue of climate change raises new requirements for the way our societies work. Even though climate policy is regarded as being crucial on the way to a low carbon society, the coordination of technology and climate policy proves difficult. The purpose of this paper is to look closer into the challenges and experiences related to the coordination between climate and technology policy in order to draw lessons for the future integration of both policy fields.

In this paper a case study approach is applied to the policy coordination efforts in two countries: Denmark and the UK. From a theoretical point the study is informed by the literature on the dimensions of policy learning and the findings of innovation and transition studies.

The case studies provide important lessons how important flexibility and continues policy learning and its institutionalization will be on the way towards a low carbon society. However, it becomes clear that the price of this flexibility is the risk of “symbolic action”, respectively, postponing emission reduction measures.

The findings are drawn from two countries, however it remains not fully clear in how far the instruments and approaches from countries like Denmark and the UK can be applied in a similar way in other countries.

The paper provides an important discussion of contradictions between climate and technology policy from the perspective of the literature in innovation studies and policy learning.

Climate and environment-related financial risks could significantly and negatively impact the financial sector in future, particularly its financing to those sectors adversely impacted by the climate-related risks, low-carbon policies and the transition from traditional energy sources-based economy to a more sustainable system with alternative energy sources. The participatory countries of the Paris Agreement agreed to align finance flows with a low-emission, low-carbon and climate-resilient growth, in order to facilitate achieving the long-term climate goals. The financial sector, therefore, needs to play a proactive role in aligning financial flows. It is, therefore, of utmost importance to study low-carbon finance and climate-related financial risks. This chapter examine how climate change can affect the financial sector. It discusses the concept, nature, measurement of climate risks and climate-related financial risks and associated prospects and challenges in the assessment and the measurement of these risks. It also presents the green financing initiatives and role of central banks and supervisory authorities and their monetary and financial policies in enhancing green financing and redirecting finance to low-carbon activities. In the financial sector, the insurance industry is highly vulnerable to such risks. The banking sector is yet to witness the serious impact of these risks. With the slowing of global economic growth, appropriate policies are needed to encourage banks to provide increased green finance with an adequate profitability. Studies recommend that climate-related risk has a strong potential impact on banks’ loan default rate as well as on the financial stability, there is hence a need to incorporate climate-related criteria and the systemic risk arising out of climate change into banks’ decision-making process and risk modelling and management. There is a need for developing an appropriate methodology for assessing and reducing these risks. Moreover, observers also anticipate a need for cooperation between banking regulators and banks to develop and adopt best practices in the management of environmental risks. The environment-related risks will call forth a multi-country, or regional, research office to collect and compile the required data and undertake analysis to enhance the banking sectors’ understanding of, and capacity to address, potential systemic environmental risks. What is needed is to test the feasibility of incorporating forward-looking scenarios for assessing potential impacts of providing credit to environmentally unsustainable or sustainable activities on financial stability.

Owing to increased energy demands, China has become the world’s top CO2 emitter, with electricity generation accounting for the majority of emissions. Therefore, the Chinese Government aspires to achieve a low-carbon transformation of the electric industry by enhancing its green innovation capacity. However, little attention has been paid to the green development of electric technology. Thus, this paper aims to uncover the spatiotemporal evolution of electric technology in the context of China’s low-carbon transformation through patent analysis.

Using granted green invention patent data for China’s electric industry between 2000 and 2021, this paper conducted an exploratory, spatial autocorrelation and time-varying difference-in-differences (DID) analysis to reveal the landscape of electric technology.

Exploratory analysis shows that the average growth rate of electric technology is 8.1%, with spatial heterogeneity, as there is slower growth in the north and west and faster growth in the south and east. In addition, electric technology shows spatial clustering in local areas. Finally, the time-varying DID analysis provides positive evidence that low-carbon policies improve the green innovation capacity of electric technology.

The different effects of the low-carbon pilot policy (LCPC) on R&D subjects and the LCPC’s effectiveness in enhancing the value of patented technology were not revealed.

This paper reveals the spatiotemporal evolutionary characteristics of electric technology in mainland China. The results can help the Chinese Government clarify how to carry out innovative development in the electric industry as part of the low-carbon transformation and provide a theoretical basis and research direction for newcomers in this field.