Green Transformation Evaluation and In-fluential Factors of Industrial Enterprises Considering Gray Correlation Analysis Method

Abstract

The gray correlation analysis will be applied to research the development of green transformation in industrial enterprises. The discussion of various factors that lead to the trend of the industry in embracing sustainable operations has been made. GCA will be employed in finding how the developments correlate with the factors influencing green practices. A systematic review is combined with data from reports of the industry, government reports, and corporate sustainability disclosure for a complete dataset. It includes technology innovation, compliance with regulations, resource management, and corporate governance. Normalization of the data would help in meaningful comparison and deducing insights that may reveal the impact that these can have on green transformation. From the results obtained, it was found that energy efficiency remained the most influential improvement factor, followed by the initiatives of reduction in emissions and adoption of renewable energy. Most importantly, environmental compliance, proper waste disposal, and sustainable supply chain practices become incentives for green transformation in industries.