Evaluation on green development ability of Chinese oil and gas companies under the constraint of carbon emissions

Under the constraint of carbon emissions, the high-quality development of companies greatly depends on their green development abilities. Herein, research was conducted based on three oil and gas companies, i.e., CNPC, SINOPEC and CNOOC, and an evaluation index system for the green development abilities of oil and gas companies was constructed through text analysis. Based on the panel data of the three companies in 2011 to 2020, their green development abilities were evaluated through principal component analysis and super-efficiency SBM-DEA model. In this way, their current status and existing problems of the green development abilities under the constraint of carbon emissions were explored. According to the results, for those oil and gas companies represented by CNPC, SINOPEC and CNOOC, their green development abilities are low and fluctuate greatly. Definitely, the factors, such as high emissions of greenhouse gas and other pollutants, are the main reason for their low green development abilities. Finally, specific suggestions were put forward for the oil and gas companies to respond to climate change, reduce carbon emissions, and improve their green development abilities.