Towards Micro-Level Green Growth: A Framework to Recognize Corporate Growth Status, Path and Adopt Eco-Innovations

Abstract

Despite the substantial attention paid to green growth in recent years, how to achieve green growth is still underexamined because it is usually advocated as a political motto or development scheme at the macro level. This study aims to scrutinize the meanings of green growth, growth statuses, and growth paths at the corporate level. Meanwhile, eco-process, eco-product, and eco-system innovations were reviewed, and an adoption strategy that involves the concept of life cycle was put forward to support the choice of suitable eco-innovations and to realize micro-level green growth. Finally, 54 enterprises out of the top 500 enterprises in China were used for a multi-case study. The results demonstrate that the improvements in energy consumption were better than those of greenhouse gas (GHG) emissions in the sample enterprises. However, only five firms achieved continuous green growth. For the majority of the enterprises, their significant economic growth was not certainly related to evident drops in unit energy consumption and GHG emissions. In addition, four firms obtained continuous grey growth, and the enterprises in manufacturing sectors exhibited inferior eco-efficiency. Corporate growth statuses and paths should not only be determined by considering a single environmental or economic measure. Enterprises in manufacturing sectors must develop specific eco-innovations that can greatly enhance their environmental performance. This study adds to the literature by expounding micro-level green growth as well as its relation to eco-innovations. This study also offers a quantitative and integrated view to advance corporate eco-innovations and green development.