Chinese manufacturing has recently undertaken the responsibility of energy conservation and emission reduction to address climate change. This research analyzes green innovation on business sustainability in the energy-intensive industry in China from the manager perspective, researched data from 229 Chinese managers via structural equation modeling (SEM). The results demonstrated that green innovation had three dimensions: green product innovation, recycling, and green publicity. Business sustainability also had three dimensions: financial performance, environmental performance, and social performance. It also shows that green innovation had a significant effect on business sustainability in the energy-intensive industry. More specifically, we found that recycling has more impact on social performance when compared with green publicity. However, green publicity has a large effect on environmental performance; moreover, green product innovation has more impact on financial performance than green publicity. We also found that environmental performance has a positive effect on financial and social performance results. The alternative models were used to examine the second-order factors of green innovation and business sustainability to test the study’s robustness and supported our findings. Thus, this study contributes to the field by helping managers to make decisions when dealing with sustainable environmental management. It provides new empirical evidence to support the development of a low-carbon circular economy and realization of a carbon-neutral goal by 2060 in China.

The green transformation of the manufacturing industry is crucial for high-quality development of the Yangtze River Economic Belt, and environmental regulation and technological innovation may play key roles. Considering the undesirable output of the manufacturing industry, this paper adopted the undesirable-SE-SBM Model to measure the green transformation efficiency, which can reflect the core transformation performance. On this basis, this paper respectively adopted system generalized method of moments (SYS-GMM) and differential generalized method of moments (DIF-GMM) to explore the driving factors of green transformation, which fully considered the lag variable of transformation efficiency. The estimated results of green transformation showed that the efficiency of the Yangtze River Economic Belt has maintained an overall growth trend, while that of the eastern regions was higher than that of the central and western regions. The regional difference of transformation efficiencies showed a trend of convergence first and then expansion, however, a few regions such as Chongqing have achieved leapfrog development. The estimated results of driving factors showed the first-stage lag affected the green transformation positively, while the second-stage lag had a significantly negative effect. The ratchet effect and cumulative effect led to the continued efforts on green transformation, however, the timeliness of policy might cause a rebound in practice. As mentioned in green paradox, the environmental regulation had a negative effect, which might bring compliance costs. The technology innovation level indeed promoted the green transformation of manufacturing, but the scientific research investment did not exert the expected positive effect, while the utilization of many research funds lacked market orientation. Economic development level had a negative effect on green transformation, and it would play a positive effect only if it reached a certain stage. The industrialization and urbanization affected the efficiency positively, and the external dependence degree had a significant negative effect. It was not clear whether foreign direct investment (FDI) brought a pollution haven or pollution halo effect. In view of these conclusions, local governments should strictly enforce environmental regulations, build the regional green innovation system, improve marketization of research funds, optimize the export structure, and promote new urbanization and new industrialization.

This study explored a theoretical model of factors affecting employee turnover intentions in the energy-intensive industry from the perspective of environmental regulation through emission reduction policy. Moreover, we examined whether green transformational leadership has a negative effect on the perception of turnover risk of energy-intensive corporate employees and their turnover intentions; we collected data on 531 employees in the energy-intensive industries in China. Data analysis was conducted using exploratory factor analysis, reliability and validity analysis, stepwise regression model analysis, and a structural equation model to test the research hypothesis. The results revealed that environmental regulation through emission reduction policy has a significant impact on employee perception of turnover risk and turnover intention in energy-intensive industries in China. The perception of turnover risk has a greater effect on the turnover intention among employees than the emission reduction policy. Moreover, we found that the perceived risk of turnover has a mediating effect in the relationship between environmental regulation through carbon emission reduction policy and turnover intention. However, green transformational leadership has an inhibiting effect on the perception of turnover risk and turnover intention among employees. This research has crucial theoretical significance for the transformation of energy-intensive enterprises and promoting the sustainable development of energy-intensive enterprises in China.