A Study on the Impact of Greenwashing Behavior in the Shaanxi Coal Industry

Greenwashing behavior is increasing with the development of society, which has a great negative impact on people and companies. In recent years, moreover, there are many companies for the sake of short-term interests, a large number of false green propaganda, and the reasons behind the behavior and the behavior of the companies that carry out the behavior of greenwashing have been exposed. The impact of the behavior is worth an in-depth discussion. This paper is a case study, selecting an enterprise, Shaanxi Coal Industry in Shaanxi, a city in China, as an example, and analyzing the motivation of greenwashing behavior from the perspectives of both external and internal factors, combined with the actual situation of the company. Using event analysis to show the impact on Shaanxi Coal's share price within a short time after the exposure of greenwashing behavior, and further exploring the performance of financial indicators and non-financial indicators, combined with the company's 2023 half-year report and 2024 half-year comparative analysis, it was found that the behavior has a certain degree of impact on the company's operating income, as well as a great obstacle to the future development of Shaanxi Coal, and also greatly hinder the future development of Shaanxi Coal. Based on the motivation of Shaanxi Coal and its impact on performance, corresponding recommendations were made, pointing out that greenwashing behavior yields only momentary profit, which has a significantly negative effect on the company's and the country's long-term development. It is recommended that the company adopt a realistic and practical approach to green development.