Research on the Effectiveness and Innovative Pathways of Financial Support for Green Transformation in the Steel Industry

Abstract

Under the dual carbon goals, the steel industry-as a high-carbon core sector-requires substantial capital for transformation. However, enterprises struggle to bear these costs independently, making financial support crucial. This study aims to examine the characteristics and contradictions of financial demand in the steel industry's transition, quantitatively analyze the effectiveness of financial support, and explore innovative pathways. It employs a methodology combining theoretical analysis, case studies, and data-driven evidence. Findings reveal that the current transformation faces challenges such as mismatched capital supply and demand, as well as limited financing tools. Nevertheless, notable successes have been achieved in regions like Tangshan, Hebei, and Xinyu, Jiangxi, where policy-guided and market-driven finance has effectively reduced financing costs and enhanced emission reduction benefits. Based on these insights, this paper proposes pathways from three dimensions: establishing policy standards, empowering financial institutions through technological innovation, and strengthening industry-finance synergy within enterprises. Future efforts should focus on refining standards to accelerate the green transformation of the steel industry.