Research on the Green Transformation of the Steel Industry under the Dual Carbon Background: A Case Study of Listed Companies

Abstract

As a pillar industry of the national economy, the carbon emissions of the steel industry account for 18% of the country's total carbon emissions, and the green and low-carbon transformation has become an urgent issue facing the steel industry. In the context of the country's vigorous advocacy of the "double carbon" goal, the development of iron and steel enterprises has declined, and at the same time, the environmental regulations are also increasingly serious, and the green transformation of iron and steel enterprises has become the general trend. It is of great significance for the green transformation of the steel industry to sort out the whole process of the green transformation of iron and steel enterprises and analyze their performance after transformation. Based on the green transformation of the steel industry, this paper studies the motivations, paths and performance of the green transformation of HBIS and Shougang. This paper first combs the relevant literature on the concept, motivation, path and economic consequences of green transition, defines the relevant concepts and types of green transition, and elaborates the major difficulties, performance evaluation methods and related theories of green transformation in the steel industry. Then, the industry and business operation of the case enterprise are introduced, the motivation of the green transformation of the pilot companies and non-pilot companies of the dual carbon policy is analyzed, and the process of green transformation of the enterprises is sorted out. Finally, the DID model is used to analyze the performance of the pilot companies and the non-pilot companies before and after the transformation, and the internal mechanism of the impact of green transformation on the performance of enterprises is summarized, and the corresponding research conclusions and enlightenments are drawn. Through the analysis of listed companies in the steel industry, this paper draws the following conclusions: First, the institutional framework and market mechanism under the dual carbon goal should be built under the policy drive. The dual carbon policy reshapes the development logic of the steel industry through the synergy of mandatory constraints and incentive tools; Second, in the ever-changing modern society, technological innovation has become an important fulcrum for the green transformation of the steel industry, which is mainly reflected in three directions: clean energy structure, low-carbon process flow, efficient resource recycling; Third, despite the remarkable transformation of steel companies, the steel industry still faces structural problems: high transformation costs and long return on investment cycles, key technical bottlenecks and insufficient collaborative innovation. Based on the above research conclusions, this paper draws the following implications for the green transformation of the steel industry: First, enterprises should: Choose the transformation method that suits you according to the industry and your own situation; Second, enterprises should pay attention to innovation and application in the process of green transformation; Third, enterprises should consciously disclose their own environmental information to enhance their awareness of environmental protection and responsibility; Fourth, the government should strengthen policy guidance and support, form a joint force for industrial development, and jointly respond to the challenges in the process of green transformation.