The Choice Of Green Bonds Varieties And Motivation Analysis

With the development of the 13 th Five-Year Plan,the concept of ecological civilization construction and sustainable development is deeply integrated into the economic and social development.The financial sector is also actively exploring and building a green financial system that will help promote sustainable economic and social development.By linking green industries with the financial industry,green finance can not only effectively expand the financing channels of green industrial enterprises,but also play an important role in the transformation and upgrading of the economy and society.Green bonds are the most dynamic and fastest-growing component of green finance.The green perpetual bond issued by Xinjiang Goldwind Technology Co.,Ltd.(bond name: 16 Goldwind GN001)is the first green bond with sustainable nature.It is a major attempt in the domestic green bond market,with typical significance and research value.Based on the transaction cost theory and green finance theory,this study uses the green bond assessment,issuance and continuous operation data to analyze the issue of green bonds.On this basis,analyzing the internal and external motivations of its green and sustainable attributes,and finally combining the contrast of the two attributes to explore the driving force of companies to issue green bonds.The research in this paper finds that the issuance and subsequent operation of green bonds have generally fulfilled the policy guidelines and objectives of green bonds.According to this study,domestic green bond market is mainly facing obstacles represented by information disclosure and recognition of the green nature,and on this basis,it has put forward suggestions,including the construction of a multi-level green bond market system and the expansion of the green consumption investment community.The research in this paper has important theoretical and practical significance.On the one hand,it expands the theoretical research on the motivation of innovative green bond varieties of enterprises,on the other hand,it helps to strengthen the economic functions of the government and other regulatory entities,and guides the green development of the bond market.In addition,it is also play a facilitating role of financing options in green industry.