Low-Carbon Transformation in Megacities: Benefits for Climate Change Mitigation and Socioeconomic Development—A Case Study of Shenzhen, China

Megacities are the main sources of carbon emissions and are pillars of socioeconomic development due to economic prosperity, industrial development, and population agglomeration. Taking the megacity of Shenzhen, China, as an example, this research explored the advantages of low-carbon transformation in both climate change mitigation and socioeconomic progress. Soft linking of the Low Emissions Analysis Platform (LEAP) model with input–output analysis demonstrates that adopting feasible low-carbon transformation strategies has the potential to reverse the ongoing trend of carbon emission growth in Shenzhen, resulting in a peak before 2025. The peaks in carbon intensity and carbon emissions per capita occurred earlier than those in total carbon emissions. Furthermore, a total low-carbon investment of 462.04 billion CNY could yield approximately 799.49 billion CNY in output, 311.42 billion CNY in value-added, and 156.10 billion CNY in resident remuneration and create 1.79 million job opportunities during policy implementation. Taking into account both the reduction in carbon emissions and the socioeconomic benefits of low-carbon transformation, this research elucidates a potential pathway for Shenzhen to achieve synergy between mitigating climate change and promoting socioeconomic development, thus offering a valuable model for cities facing similar challenges.