Operational Theories And Obstacles Of Low-carbon Investment:Empirical Study Based On Industrial And Regional Perspectives

Disasters,led by the global warming,has become a tremendous challenge for the development of current human society.China,as the second largest economy in the world,is in the period of rapid industrialization and urbanization.Under the inexorable situation of coal-based energy consumption structure in the short term,China must make more and more efforts to cope with climate change.With the transformation of economic growth mode and the decline of the proportion of the second industries as the basic characteristics,investment will continue to play a critical role in economic growth.Therefore,the transformation from traditional investment to low-carbon investment should be the focus of attention.This paper constructed a conceptual model and a theoretical framework for the operation of low-carbon investment.And then systematically interpreted the operation mechanism of low-carbon investment in the relationship between investment capitals and the elements influencing low-carbon economic development,starting from the theoretical exploration of low-carbon investment.Moreover,this paper,by industrial and regional empirical study,found that there's still much room for low-carbon investment in China,and that there're obstacles in the low-carbon transition of traditional investment.Furthermore,the stickiness theory was applied to calculate the obstacle elements of low-carbon transfer of investment,and it was found that different degrees of low-carbon investment stickiness existed in various industries and regions,especially in the areas where the industries and economics are relatively underdeveloped.In the further research on the application of Grey Relational Analysis,such factors as economic development level,industrial structure characteristics,low-carbon policy,energy endowment,and technological progress were selected according to the perspective of effects,and the correlation degree of low-carbon stickiness were analyzed between various factors,and different industries and regions.The results showed that low-carbon policy and low-carbon technological progress are the most important influence factors triggering the transition of low-carbon investment at the industrial level and regional level.Therefore,the important means to eliminate the obstacle of investment in low-carbon transfer is to establish an environmental regulation system with three dime` 1qqnsions as a whole,and to strengthen the construction of a dual track mechanism for the independent innovation of low-carbon technique and the transfer of international technology.The main research and innovation of this paper are as follows:(1)Putting forward the concept of low-carbon investment and establishing a conceptual model of low-carbon investment by defining the concept of low carbon investment.(2)Constructing the theoretical framework of low-carbon investment operation,and systematically explaining the operation mechanism of low-carbon investment.(3)Including environmental regulation and energy elements into the framework of investment behavior and revealing the problems of non-lowcarbonization in China industries' and regionals' investment by the results of empirical study.(4)Originally applying the stickiness theory to the analysis of blocking elements of low carbon investment,proposing the concept of investment low carbonization viscosity,quantitatively analyzing the factors of blocking low-carbon investment in China's different industries and regions with the reference of stickiness theory,and providing a basis for eliminating the obstacles of low carbon transfer.