“…The existing research on low-carbon transformation mainly focuses on exploring development models (Wu et al, 2020), constructing indicator systems (Lou et al, 2019), and evaluating the process of low-carbon transformation (Li et al, 2018;Shari et al, 2020). In terms of studying the influencing factors of low-carbon transformation, scholars have explored the different impacts of energy intensity (Zhang C. et al, 2019), industry scale (Du et al, 2018), economic development (Shen et al, 2018), technological innovation (Yin and Li, 2018;Wang et al, 2021), energy structure (Cui et al, 2020;Quan et al, 2020), and investment (Li and Li, 2020;Zhang et al, 2021).…”