Research On Green Investment Efficiency Of Steel Industry

The party’s Report to the 20 th CPC National Congress clearly points out that China’s economic development needs to actively implement the green and low-carbon development strategy.Enterprises should strengthen environmental pollution control and social and ecological protection while accelerating the transformation and upgrading of industrial structure.They should always adhere to the "two-carbon" development goal in the new era,coordinate and coordinate the relationship between the development and utilization of resources and their incremental stock,and comprehensively improve the utilization efficiency.Steel industry,as a traditional carbon emission industry,produces various kinds of waste emissions which cause huge environmental pollution.Globally,China’s iron and steel industry will account for more than 60% of the global carbon emissions in 2020,accounting for more than 16% of the national carbon emissions.It is the manufacturing industry with the highest carbon emissions in China,and is also the most important task to implement carbon emission reduction.It is imperative to accelerate the green and low-carbon transformation.Many domestic iron and steel enterprises have successively issued "double carbon" road maps,aiming at promoting the green transformation and development of the steel industry.Among them,the green investment that leads the economic transformation to green with capital investment has grown rapidly,but the cost of environmental impact caused by economic activities has also risen sharply with the continuous expansion of green investment.Therefore,it is particularly urgent to evaluate the efficiency of green investment in a timely manner.Based on the triple bottom line theory,this paper explores the green investment efficiency of enterprises.Firstly,combining with the development characteristics of the steel industry,the characteristics of green investment efficiency and the green sustainable development goal of the steel industry,30 listed companies that have disclosed green investment information in the steel industry are selected as data samples,and a green investment efficiency evaluation system suitable for the steel industry is constructed by using the entropy weight method of time-space range and data envelopment analysis.Secondly,taking baoshan iron & steel,which is the most representative of the steel industry and has been committed to green development for a long time,as a case enterprise,the actual efficiency of green investment in baoshan iron & steel from 2016 to 2021 is measured in depth.The evaluation results show that the economic efficiency and environmental efficiency of green investment in this enterprise are low,and there are serious input redundancy and insufficient output.Through in-depth analysis,it is found that the unreasonable input-output structure and the internal control system of green investment are the causes of enterprises’ increasing green capital investment.Finally,in view of the existing problems and their causes,some suggestions are put forward to improve the efficiency of green investment in enterprises from the aspects of perfecting the internal management system of green investment,innovating green development technology and integrating and utilizing resources.Through the research on the green investment efficiency of case enterprises,it is expected to provide reference for the strategic adjustment of green investment projects in steel industry and the improvement of green investment efficiency.