Low-carbon Transformation Strategies And Effects Of Large Steel Enterprises In China From The Perspective Of Game

In recent years,extreme weather events have become more frequent worldwide,and excessive greenhouse gas emissions have had a significant negative impact on the global environment.To address such environmental issues,Chinese national leaders proposed China’s dual-carbon goals on September 20,2020.Implementing these goals as scheduled has become a major strategic concern for China’s future economic and political development.As a key industry included in China’s carbon market,the steel industry faces challenges such as significant carbon emissions and heavy dependence on traditional energy sources.In the future,it will face huge risks during the entire transformation process.Based on this,how to achieve the low-carbon transformation of China’s steel industry at a higher level and broader scope will become an important research topic for the future development of the Chinese steel industry.This paper provided practical guidance for resolving the contradictions between the environment and the economy and achieving the scheduled low-carbon transformation of large-scale steel enterprises in China.The research was conducted from two perspectives: modeling and case studies.At the modeling level,an evolutionary game model of low-carbon transformation of enterprises considering government incentives and public constraints was constructed,and the low-carbon transformation patterns of Chinese steel enterprises were analyzed through equilibrium point analysis.The Matlabe2020 r,combined with actual situations,was used to analyze various variables based on theoretical analysis,and to verify whether various micro-agents can promote low-carbon transformation of steel enterprises through competition and cooperation.While at the case study level,subject enterprises and comparative enterprises were selected according to certain criteria.The paper compared and elaborated on the corresponding low-carbon transformation strategies and effects of the internal governance aspect,public engagement aspect,and carbon market operation aspect of China’s top-tier large-scale steel enterprises,according to the conclusions derived from the model.It also summarized the strategies and effectiveness of low-carbon transformation in the domestic steel industry,providing a practical transformation template for the low-carbon development of the Chinese steel industry.The main research findings of this paper are as follows: First,from a game perspective,low-carbon transformation is an inevitable path for future sustainable development of steel enterprises.Steel enterprises should actively formulate corresponding transformation strategies in terms of internal governance,public engagement,and carbon market operation while fully considering the impact of government policies and public constraints.Specifically,the internal governance capability and carbon market operation capability will influence the success of lowcarbon transformation,while strategies targeting public engagement will indirectly promote enterprise transformation by influencing financial institutions’ green services for steel enterprises.In the short term,the steel industry should adopt various forms of fulfilling the agreement on the carbon market and collaborate with clean energy companies and financial institutions to increase carbon market revenue,while ensuring proper carbon information verification and disclosure.In the long term,steel enterprises should focus on strategies related to research and development of low-carbon technologies and the production of green products.Second,at the case study level,the research results showed that the subject case study enterprises,Baosteel and Angang Steel Company Limited,have implemented comprehensive low-carbon development strategies in all three strategic aspects mentioned in the game conclusions.The corresponding low-carbon transformation strategies have brought them financial,environmental,and social reputation performance feedback,ultimately facilitating a smooth progress in their low-carbon transformation efforts.