Abstract:In order to deeply analyze the dynamic mechanism and key influencing factors of green innovation of enterprises in the Yangtze River Delta, this paper takes 20 advanced energy conservation and environmental protection enterprises in the Yangtze River Delta as the research object, collects relevant second-hand materials from enterprise websites, media reports, academic journals, etc., uses the coding technology of grounded theory to process data, studies and constructs the dynamic mechanism model of green innovation of energy conservation and environmental protection enterprises, and further takes two typical enterprises as examples, And the case analysis method is used to study the action stage of the influencing factors of green innovation. The results show that: (1) market factors and environmental regulations are external guiding factors, innovative technology and ability are internal driving factors, stakeholder pressure and resource integration and investment are strengthening factors, and corporate culture is maintaining factors; (2) In the four stages of green innovation practice of energy conservation and environmental protection enterprises, the key influencing factors in the fuzzy front end, research and development, production and manufacturing, and commercial application stages are respectively market factors, innovative technologies and capabilities, resource integration and investment, and stakeholder pressure. Based on this, this paper proposes that the government in the Yangtze River Delta should strengthen market incentive and independent participation based environmental regulation, enterprises should improve their awareness of green environmental protection, and jointly increase green innovation investment.