S12CPMU core on S12G MCU supports following modes of operation:
- Run Mode
- Wait Mode
- Stop Mode (Full and Pseudo)
Refer to chapter 10.1.2 Modes of Operation of the S12G reference manula (link below)
http://cache.freescale.com/files/32bit/doc/ref_manual/MC9S12GRMV1.pdf
For your case, you can either use run mode with low bus clock frequency for low power consumption, or enter into STOP or WAI mode and wait for an interrupt to wake up the MCU in order to do tasks.
In Wait mode the core runs (PLL is on), but you can set the peripheral's modes of operation i.e. low power options.
For example, the MSCAN has two additional modes with reduced power consumption, compared to normal mode: sleep and power down mode. In sleep mode, power consumption is reduced by stopping all clocks except those to access the registers from the CPU side. In power down mode, all clocks are stopped and no power is consumed.
The WAI instruction puts the MCU in a low power consumption stand-by mode. Additional power can be saved in power down mode because the CPU clocks are stopped. After leaving this power down mode, the MSCAN restarts and enters normal mode again. While the CPU is in wait mode, the MSCAN can be operated in normal mode and generate interrupts.