On The Motivation Of Non-financial Corporation Issuing Green Bonds

In China’s green bond market,green financial bonds have always been in a dominant position.However,the green bonds of non-financial enterprises have shown a clear upward trend in recent years.From the perspective of non-financial enterprises,this paper attempts to explore the motivation for choosing to issue green bonds.Based on the theory of capital structure,asymmetric information theory,etc.,this paper analyzes the reasons why green bonds are chosen and issued through the case of Century Concord Wind Power Investment Co.Ltd.,the issuer of the first non-financial green bond in China.Meanwhile,through the analysis of financial performance to discuss whether the issuance of green bonds meets the expected goals,and on the basis of summarizing the cause analysis,provide relevant countermeasures and suggestions for related companies.Through the analysis of the motivations of Century Concord Wind Power Investment Co.Ltd’s issuance of green bonds,this paper mainly summarizes: 1)Compared with multiple financing methods,the advantages of green bonds are more prominent and suitable for the needs of financing;2)Green bonds bring long-term “green companies” reputation;3)At the macro level,the prospects of the new energy power industry are good,and policies strongly support the development of green bonds,etc.All contribute to the release of green bonds by Century Concord Wind Power Investment Co.Ltd;4)At the micro level,mitigation of project funding pressure,enhancement of short-term solvency,and expansion of financing Channels,optimize debt structure and meet the needs of business strategy adjustments.Through the financial performance of Century Concord Wind Power Investment Co.Ltd,the paper finds that the green bond only realizes its original intention in terms of optimizing the debt structure effect and optimizing the asset structure.