Research On The Motivation,Path And Economic Consequences Of The Green Transformation Of Sinopec Shanghai

With the rapid development of China’s economy,people’s material living standards have greatly improved,but the environment we rely on has also faced more severe challenges.In this situation,the contradiction between economic development and resource environment has become a long-term and serious problem.The contradiction between economic development and resource environment has become a major long-term challenge for China’s modernization construction.The report of the 20th National Congress of the Chinese Communist Party instructs us to "accelerate the construction of a new model of development and promote high-quality development".It can be seen that high-quality is the main theme of entering a new era in domestic economic development,and also the breakthrough direction for the future development of enterprises in various industries.The essential feature of high-quality development of enterprises is to carry out green transformation and development,emphasizing energy conservation and environmental protection,and achieving green growth.The petrochemical industry is not only an important energy infrastructure in the nation’s economic development but also the industry of high pollution and high energy consumption.Faced with the current background of overcapacity in the petrochemical industry and the continuous introduction of environmental regulatory policies to limit the demand for petrochemical energy,the downward pressure on the efficiency of petrochemical enterprises is increasing,and the development space of petrochemical energy is further squeezed out.The green transformation and development of petrochemical enterprises has become an inevitable requirement to comply with external policy trends and industrial development.This study takes Shanghai Petrochemical as an example to collect relevant data on the green transformation of Shanghai Petrochemical.It conducts a detailed analysis of the driving forces,paths,and economic consequences of Shanghai Petrochemical’s green transformation,and draws corresponding conclusions and inspirations.Firstly,relevant research at home and abroad was reviewed,and theoretical research was conducted on the motivations,paths,and economic consequences of enterprise green transformation.Next,a brief introduction will be given to the development overview of China’s petrochemical industry and the situation of the case company Shanghai Petrochemical.Combining the externality theory,stakeholder theory,sustainable development theory,etc.,this thesis introduces and analyzes in detail the motivation and path of Sinopec’s green transformation,and selects the data from 2016 to 2021 to evaluate the results of Sinopec’s green transformation economy from the aspects of environmental performance and financial performance.Analysis has found that Shanghai Petrochemical has taken active measures to carry out green transformation under the driving force of restrictive policies,encouraging policies,stakeholder demand guidance,and its own sustainable development.Shanghai Petrochemical’s green transformation is divided into six paths:green development transformation,green culture transformation,green energy transformation,green production transformation,green service transformation,and green technology transformation.In promoting and implementing green transformation,enterprises have achieved significant results in environmental protection,and have achieved comprehensive optimization in innovative technology upgrading,resource utilization efficiency,and pollution reduction capabilities.In terms of financial performance,the level of asset management has been optimized,but there is a lag in operational performance,and profitability still needs to be improved.In the future,Shanghai Petrochemical will continue to expand research and development investment,promote the transformation of scientific and technological achievements,improve the profitability and development ability of the enterprise,achieve diversified energy and product configurations,and achieve green transformation to enhance the enterprise’s risk resistance ability.At present,most of the research on green transformation of enterprises in China focuses on the construction of a macro level system,and micro research is also generally focused on steel and thermal power enterprises.This article introduces petrochemical enterprises,and conducts a systematic analysis of Shanghai Petrochemical’s green transformation from the perspectives of motivation,path,and economic consequences.The green conversion research of existing micro enterprises is abundant,and it provides useful reference for the realization of the green conversion of other enterprises.