Does Low-Carbon City Construction Promote Integrated Economic, Energy, and Environmental Development? An Empirical Study Based on the Low-Carbon City Pilot Policy in China

Low-carbon urban transformation is considered the path to green economic growth in dual-carbon contexts. The low-carbon city pilot policy (LCCP) in China has vast potential to enhance the integrated development of the economy, energy, and environment (3Es). Taking 240 cities in China from 2005 to 2019 as research samples, this paper investigated the impact of LCCP on the integrated development level of the 3Es using the progressive difference-in-differences model and analyzed the mechanisms of influence. In addition, the implementation effects on different cities were analyzed using the triple difference model. The findings show that implementing the LCCP policy significantly improves the 3Es integrated development level in the sample cities, and a variety of robustness tests were used to validate this conclusion. The influence mechanism analysis shows that the primary avenues for pilot programs to contribute and successfully advance the enhancement of the low-carbon city 3Es integrated development level are technological innovation and financial development. Moreover, the heterogeneity analysis of resource endowment and geographical location shows that LCCP is beneficial to the 3Es integrated development in non-resource-based cities and eastern cities. Consequently, policy recommendations include the continuation of low-carbon pilot city expansion, joint promotion of regional 3Es integration, improving the level of technological innovation and financial development, and tailoring of policy to local circumstances. This study provides theoretical support for the evaluation of China's LCCP and, to a certain extent, proves that the measures taken by China in the process of exploring green economic growth and realizing the dual-carbon goal are correct.