Analysis of motivation and performance of green transformation of steel enterprises under the "Dual Carbon" target: A case study of Shougang Steel

Abstract

With the intensification of global climate change and the rapid growth of China's energy consumption, adjusting the energy consumption structure and promoting green and low-carbon development have become important directions for China's energy policy, echoing the United Nations Sustainable Development Goals such as Affordable and Clean Energy, Industry, Innovation and Infrastructure. As a major carbon emitter, the steel industry faces an imperative need for green transformation. This paper takes Shougang Steel Co., Ltd. as the research subject, conducting a systematic analysis of its internal and external drivers, transformation pathways, and performance in green transition. A performance indicator system is constructed from four dimensions: market, finance, innovation, and environment, with quantitative evaluations using the entropy method and fuzzy comprehensive evaluation. The study reveals that Shougang Steel's green transition momentum stems from international trade policy incentives, regulatory support, industry challenges, and its own developmental needs. Its transformation pathways encompass environmental management system construction, energy conservation and consumption reduction, water resource recycling, and other aspects. Comprehensive performance evaluations demonstrate that green transition has a significant positive impact on corporate long-term financial performance, innovation performance, and environmental performance. This paper provides valuable references for green transitions in high-carbon industries under the "dual carbon" context..