Research On The Motivation,Path And Effect Of Green Transformation Of CR Power

Due to the intensification of global climate change,and the government has adopted a variety of environmental protection policy measures.The power industry is a key industry in China to achieve the "double carbon" goal,and adhering to a sustainable development model is an inevitable choice for ecological environment construction.An effective way to promote the green transformation of the company is to internalize the environmental externalities,so that power companies can incorporate the costs of environmental management into their production accounting and integrate them into their daily business management to promote the green transformation of the company.This paper chooses China Resources Power as a case study to investigate the motives and paths of its green transformation and its green transformation effects based on the perspective of internalization of externalities.The study finds that: environmental externalities are internalized through three aspects:government intervention,market transactions,and social awareness,which raise China Resources Power’s environmental taxes and fees,clarify environmental responsibilities,and increase the pressure to save energy and reduce emissions and meet public expectations,so that the company must pay for the pollution it creates,while government subsidies and environmental premiums from the green power and green financial markets all give the company’s environmental behavior compensated for the company’s environmental behavior,forming the motivation for CREC’s green transformation.Driven by these motivations,China Resources Power promotes the company’s green transformation by disposing of highly polluting assets,promoting energy saving and emission reduction transformation,expanding renewable energy business,carrying out green power trading and insisting on innovation and R&D to improve emission reduction technology and other paths to reduce the company’s pollution costs and improve environmental benefits.In the end,China Resources Power’s environmental taxes and financing costs were reduced,pollution emissions and energy consumption were reduced,renewable energy installations were increased,and a green corporate image was also created.