Research On Green Transformation Of Steel Enterprises Empowered By Green Bonds

As a resource-intensive industry,the traditional development model of the steel industry is faced with such dilemmas as pollution penalties,cost disadvantages and increased competition in the industry,and green transformation has become the core direction for the development of steel enterprises.However,the long cycle of green transformation projects,high capital requirements and uncertainty of future returns have led to the difficult problem of financing constraints and insufficient motivation for transformation for enterprises in the steel industry.In order to break this dilemma,Hebei Iron and Steel Group has issued green bonds,green renewable bonds and carbon neutral bonds to promote the deepening development of green transformation,which is a good reference for enterprises in the steel industry.The concept of green transformation has been around for a long time,but previous studies have focused on quantitative analysis at the macro level such as regions,cities and industries,and relatively little research has been conducted on the path,model and evaluation of green transformation at the micro level.In-depth analysis of green transformation at the enterprise level is more conducive to providing valuable reference experience for all enterprises in transition in practice.Based on this,this thesis combines the transformation characteristics of Hebei Iron and Steel Group,and from the connotation of green transformation,proposes the green transformation path of iron and steel enterprises as follows:taking the green development strategy as the leader,focusing on the whole life cycle of iron and steel,and supporting the green transformation capacity building to promote the core competitiveness of enterprise innovation and achieve the win-win situation of environmental and economic benefits.The green financing method represented by green bonds has a series of advantages,which can better alleviate the challenges of green transformation of enterprises and provide transformation momentum for green transformation of enterprises compared with traditional financing methods.The requirements of dedicated capital and disclosure regulation of green bonds can restrain enterprises’investment and disclosure behaviors,and promote enterprises to achieve deeper development of green transformation.In this paper,we analyze the path and effect of green bonds issued by Hebei Iron and Steel Group,build a theoretical analysis model,and examine the effect of green bonds from the micro level.After the conclusion of the study,some development suggestions are put forward to the steel industry and the government with the specific practice of the case enterprises,aiming to provide some reference for the perfect development of the green bond market and help steel enterprises achieve the development goal of green transformation.