Green Investment Performance Evaluation in Steel Enterprises Under China’s “Dual Carbon” Goal: A Case Study of Baosteel

With the intensification of global climate change, China is deepening its “dual carbon” strategy. As a typical high energy consuming and high emission industry in China, the green and low-carbon transformation of the steel industry has become a key link for China to achieve its “dual carbon” goals. This article takes Baosteel Corporation of China as the research object, constructs a green investment performance evaluation system covering 18 indicators from three dimensions: environment, economy, and society, systematically examines the implementation status and performance level of Baosteel Corporation’s green investment from 2019 to 2024, analyzes its performance influencing factors, and proposes targeted improvement measures. From 2019 to 2024, Baosteel continuously intensified its green investment efforts. In terms of environmental performance, the emissions of particulate matter, sulfur dioxide, and nitrogen oxides in 2024 decreased by approximately 63%, 58.4%, and 50.9%, respectively, compared to 2019. Economically, the company achieved operating revenue of 322.116 billion yuan and net profit of 7.362 billion yuan in 2024. Socially, the workforce remained largely stable, with a total of 12,867 valid authorized invention patents. Using the entropy method and grey relational analysis, the results indicate that the overall performance correlation of green investments from 2020 to 2024 improved from 0.4327 to 0.9047. However, issues such as unstable wastewater treatment effectiveness, limited market application of low-carbon technologies, and insufficient information disclosure persist. This study not only provides practical guidance for enhancing investment performance but also offers a referenceable experience for other steel industry enterprises to achieve low-carbon transformation through green finance, enriching case studies and evaluation system applications in the field of green financial management.