Research On The Motivation And Effect Of Heavy Polluting Enterprises Issuing Green Bond

In recent years,environmental and resource problems are becoming increasingly serious,green finance has emerged.Green bonds as the main expression form of green finance,get a blowout type of development in our country.By the end of 2021,the issuance scale of green bonds reached 1.73 trillion yuan,in order to accelerate the development of high-pollution enterprises into green enterprises,China has begun to build a green bond market to meet local demand,advocate for the eligible real economy to raise money through green bonds,green bonds have gradually become an effective financial instrument to support the real economy and boost the development of green economy industries,many listed companies outside the clean energy industry have also announced green bond financing.Issuing green bonds has gradually become the "hot property" for traditional industries trying to transform,green projects also attract a lot of attention from listed companies in traditional industries.Against the backdrop of heavily polluting companies trying to transform themselves by issuing green bonds,exploring the motivation and effect of issuing green bonds has evolved into a key choice for heavily polluting enterprises.This paper is based on the theoretical and research results of many scholars at home and abroad and taking Shandong Gold Mining Co.,Ltd.as the research object,the motivation and effect of the issuance of green bond “G19 Lu1” were studied by case analysis method.The study found that Shandong Gold Mining Co.,Ltd.chose green bond financing motivation includes two aspects: one is the external motivation,issuance of green bonds is restricted by environmental regulations;the second is the internal motivation,to achieve the goal of closing the funding gap at a low cost,want to attract potential investors,with the issuance of green bonds to create a good corporate reputation.The green bonds issued by Shandong Gold Mining Co.,Ltd.have brought significant results to them,among,in terms of financial effect,it reduces the financing cost of the enterprise,supplements part of the daily working capital,increases the financing channels and strengthens the financing efficiency,makes the financial structure better optimized and makes the financial risk lower,non-financial results are produced considerable environmental benefits to improve the corporate image,a good stock market reaction was achieved.Different from the past,green bonds at the macro level,this paper from the micro level,the heavy pollution enterprises as the object,explore the issuers of motivation and the effect,promote high pollution enterprises in correctly measure their status,fully understand the external environment,careful analysis of their business conditions,with reasonable green bond issuance time and varieties,can guarantee smooth financing,with the ideal financing cost to achieve more considerable issuance effect.