A Study Of The Two-stage Evolutionary Process And Effects Of China Shenhua’s Green Transformation

The concept of green transformation has been put forward many times in China’s "14th Five-Year Plan" based on the "double carbon" strategic goal.and clearly pointed out the need to promote the green transformation of key industries and important areas.This shows that the "double carbon" objective has put forward higher requirements for resource-based enterprises to make green transformation.However,given the constraints of environmental protection and limited resources,how to successfully achieve green transformation has become a real challenge in the development of resource-based enterprises.Based on this,this paper explores the green transformation of resource-based enterprises from 2014 to 2021,based on China’s "double carbon" strategic goal,and analyses the dynamic evolution of their green transformation process and its effects.This paper uses a combination of theory and case studies to build a framework for the evolution of green transformation based on institutional theory,resource scheduling and sustainable development theory,and to delineate the stages of China Shenhua’s green transformation from 2014 to 2021 based on key green events.Finally,the effects of China Shenhua’s green transformation are analysed in three aspects:market effects,environmental benefits and economic benefits,using the event study method and the indicator analysis method.The results of the study show that:(1)The green transformation process of Shenhua can be divided into two sequential intervals:the green transition period mainly dominated by traditional technology transformation and the green transition period mainly dominated by technology innovation and energy transformation.The dynamic evolution of the institutional environment in different stages has a different impact on the resource arrangement process of green transformation.(2)There are significant differences in resource arrangement between enterprises in the green transition period and the green transition period.(3)Green transformation can improve the overall benefits of enterprises,and the benefits of green transformation at different stages are mainly reflected in different aspects.The significance of this paper is to reveal the evolutionary mechanism of how resources and capabilities are built to achieve green transformation in the process of green transformation,to extend the application of resource orchestration theory in the green transformation context,to provide empirical reference for the green transformation and upgrading of resource-based enterprises,and to provide reference for the government departments concerned to promote green technological innovation in enterprises.