Research on clean energy utilization and company’s green development strategy under the “dual carbon” goal – Take Sinopec as an example

Corporate finance faculty, Queen Mary University of London, London E1 4NS, The United Kingdom

^* Corresponding author: te21873@qmul.ac.uk

Abstract

At present, China predominantly relies on a traditional energy consumption structure for meeting its energy demands. However, in response to the increasing global awareness of environmental protection, the nation has significantly accelerated its efforts to develop clean energy sources as well as promote green development in various industries. In addition, numerous traditional energy enterprises have gradually initiated efforts to transition towards clean energy solutions. This transition to clean energy is not only pivotal in curbing pollution caused by energy usage but also instrumental in achieving China’s dual carbon targets. To gain insights into the adoption of clean energy and green development by domestic enterprises, this paper takes China Petrochemical Corporation as a case study. With comprehensive research focusing on policy, market, natural resources, and social responsibility, we will not only investigate China’s homegrown policies but also juxtapose them with international counterparts. This comparative analysis aims to offer an in-depth understanding concerning the environmental challenges and potential bottlenecks faced by Chinese enterprises as they embrace clean energy and green development approaches. Furthermore, based on thorough exploration, the paper will deliver practical suggestions and recommendations for their sustainable growth and development.