Research On The Impact Of Baosteel's Green Innovation On Financial Performanc

With the rapid development of the economy,the ecological environment has been seriously damaged."The 14 th Five-Year Plan proposes to give support to green innovation and promote green transformation of the economy and society.In today’s environment of energy-saving and emission-reducing production and lifestyle,enterprises are forced to seek green development models to improve their creativity and achieve synergistic development of ecological,economic and social benefits.Industrial enterprises are more dependent on environmental resources than other industries,and the degree of loss of resources is more serious.As one of the high-pollution industries that the country focuses on,steel enterprises should shoulder the responsibility of protecting the environment and actively carry out green technology innovation to achieve sustainable development.However,promoting green technology innovation requires more investment,which inevitably increases the production cost and affects the profitability of enterprises,and enterprises often need to balance between green development and financial efficiency.To this end,this thesis selects Baosteel Corporation,a benchmark representative of steel enterprises,and aims to analyze the green behavior of this enterprise and its effect on corporate financial performance from the perspective of Baosteel’s green innovation,in order to explore whether green innovation can achieve double profitability in terms of environmental and economic performance.This thesis combines relevant theories and domestic and international research literature,and takes Baosteel,which has started to do a lot of work in environmental protection at an early stage,as the research object.Using a single case study model,we sort out a series of behaviors of Baosteel in performing green innovation,mainly initiatives such as developing green products,optimizing energy structure,ultra-low emission transformation,and implementing economic recycling.Secondly,we adopt the rooted theory approach to codify and analyze the information related to the green innovation behaviors in the company’s development history based on the case study,and explore the impact path of green innovation on the financial performance of the company.It is found that under the combined effect of internal and external environment,Baosteel started to perform green innovation behaviors,mainly around green product innovation,green energy-saving technology,and green process innovation,through green investment,research and development of green products,optimization of energy structure,improvement of resource utilization rate,and ultra-low emission transformation to control costs and increase revenue,which in turn improve the financial performance of the enterprise,while the improvement of financial performance in turn The improvement of financial performance further stimulates enterprises to increase green investment and drives them to continue green innovation,forming a virtuous circle.Therefore,this thesis argues that green innovation is an important way for enterprises to improve their efficiency and achieve sustainable competitiveness,and has a catalytic effect on improving financial performance.The study can provide a reference value for how steel companies can develop green innovation and thus improve their financial performance.Finally,relevant insights are drawn by combining the analysis of this thesis.This thesis expects that the research on the impact of green innovation on financial performance of Baosteel Corporation can help other iron and steel enterprises to view green innovation correctly,actively participate in green innovation,and achieve the win-win situation of environmental optimization and enterprise economic growth.