The Case Study On Green Bond Issuance Of Three Gorges Corporation

The rapid development of modern industrial production has promoted the speed of economic growth of all countries and improved the income level and lifestyle of people.Although the modern industrial civilization has brought people comfortable living conditions,the environmental problems and sustainable development problems caused by it have become increasingly prominent.In order to take economic development and environmental protection into account,we must strengthen the construction of clean industry,in the period of the "14th Five-Year Plan",environmental ethics construction has become a target for social and economic development.The various economic work of the Central Committee have also repeatedly stated that we aim to reach the carbon peak before 2030 and realize carbon neutralization before 2060.In recent years,with the introduction of relevant policies,the green bond market has been vigorously developed,promoting China’s economic and social transition to green sustainable,which has far-reaching significance for economic development and the solution of environmental problems.As one of the state-owned companies and China’s largest clean energy company,the Three Gorges Corporation can demonstrate a model leadership.So this paper select the Three Gorges Corporation as the study object by the method of case analysis,first it introduces the green green bonds’ development situation,issuance system and process,then it introduces the background of Three Gorges Corporation and its green bond issuance.The case study mainly analyzes the reasons for Three Gorges Corporation to issue green bonds from the external environment and internal motivation,under the background of vigorous development of green bonds at home and abroad,the Three Gorges Corporation expands the scale of hydropower station,reduces financing costs,improves its debt structure,and analyzes the enterprise performance of the Three Gorges Corporation before and after the issuance of green bonds by using factor analysis method.After the issuance of green bonds,the financial situation of the Three Gorges Corporation can be improved to meet the capital demand of green project construction and enhance its enterprise competitiveness,has certain reference significance.Different from the predecessors’ reasearch on green bonds from the perspective of financial institutions,this paper studies green bonds from the perspective of non-financial institutions such as Three Gorges Corporation,further perfect the non-financial institutions research system,to provide experience and reference for more green enterprises from issuing green bonds to raise money,not only can make our country enterprise bond financing model standardization,also can discover and explore our country enterprise green shortcomings and problems of the bond issuance mechanism,promote the long-term development of the green bonds market.