Abstract: It is important to emphasize self-developed and innovative technologies to reduce carbon emissions, but in the context of intensified resource and environmental constraints, it would be more effective using Green Technology Transfer (GTT) to correct distorted allocation of R&D factors to achieve efficient carbon emissions reductions. Based on the resource misallocation theory, this paper analyzes and empirical tests the mechanism of GTT on R&D factors configuration distortion and CO2 emission. This study shows that: (1) R&D personnel and funds in the Yangtze River Delta cities are distorted, and the mismatch of personnel is higher than that of funds; (2) The distortion of R&D personnel and funds has significantly aggravated CO2 emissions, and distorted R&D funds has a greater impact on CO2 emissions; (3) The significant adjustment of GTT on distorted allocation of R&D factors is conducive to reduce CO2 emission; (4) Development in both GTT “quantity” and “quality” could affect the nonlinear threshold effect between distorted allocation of R&D factors and CO2 emissions. Cities in the Yangtze River Delta could achieve the suppression of CO2 emission through the correction path of “quantity increase”, while for “quality improvement”, the correction effect could only mitigate CO2 emission reduction to some extent. Thus, revitalizing the stock technology, promoting the “incremental quality improvement” of intercity GTT, and giving full play to its effectiveness in correcting allocation of R&D factors are the pragmatic path to break through resource constraints, improve innovation capabilities, and effectively promote the realization of the “dual carbon”.