Theoretical Exploration and Research on Green Innovation of Rare Earth Steel

The application of rare earths in steel can promote the efficient utilization of abundant rare earth elements such as lanthanum and cerium, and promote the innovative development of the steel industry in this paper. The production characteristics of rare earth steel products were analyzed, and the direction of green innovation in rare earth steel was summarized. Based on the Wuli-Shili-Renli (WSR) methodology, the key areas of green innovation for rare earth steel were identified, and a three-dimensional theoretical framework for evaluating green innovation was established, and a comprehensive set of index systems characterizing rare earth steel green innovation data was covered. It establishes a regulatory framework to ensure the smooth operation of rare earth steel green innovation, promoting balanced and coordinated development among essential technological innovations, resources, environment, ecology, and benefits. Additionally, it sets up an incentive mechanism from the perspectives of enterprises, markets, society, and the government to foster green innovation and coordinated development in the rare earth steel industry. This model offers a novel approach for the development of rare earth steel during this pivotal transformation and upgrading period, providing robust theoretical support and practical guidance for rare earth steel green innovation.