Research On Green Technology Innovation Performance Of Green Bond Issued By Fresh Environment

In recent years,the global economy has grown rapidly and China has become the second largest economy in the world,but in this process,there are also many environmental problems,such as serious energy consumption and air pollution.China has gradually realized the danger of environmental problems to human survival,and the "3060" dual carbon target has been written into the "Government Work Report" in2021,which means that China has elevated the dual carbon target to the status of a strategic goal,and attaches great importance to environmental protection issues.At the same time,China’s green financial market has gradually developed under the influence of the international market,and at this stage,green bonds have become a more important part of the green financial market.Green bonds have the dual attributes of "green" and "financing",with the characteristics of flexible issuance period,low financing cost and more stringent information disclosure system,and are favored by more and more enterprises.Green bond financing enables enterprises to invest idle social funds in the construction of green environmental protection projects to promote the sustainable development of society.China’s environmental protection enterprises generally have the characteristics of high capital intensity and high technology dependence,and there are problems such as fierce competition in the industry,large capital investment in projects,and difficulties in financing,but environmental protection enterprises are committed to improving the environment for human survival.Therefore,in the period of vigorous development of green bonds as a financing tool,it is of certain practical significance to study the impact of green bonds issued by environmental protection enterprises on enterprises,especially on their green The impact of green technology innovation is related to the core competitiveness of enterprises and their ability to create green technologies and products that are more conducive to sustainable development strategies.In this paper,we select a leading company in the environmental protection industry,Qingxin Environment,as a case study.First,we compile the existing literature and build a theoretical framework based on theories of financing priority,sustainable development,technological innovation and maturity mismatch.Then,we analyze the impact of green bond financing on the level of green technology innovation through the change of innovation performance of the case company before and after green bond financing.The results show that the green bond financing has a positive impact on the level of green technology innovation through the issuance of green bond financing.Specifically,green bonds can reduce the financing cost of environmental protection enterprises,solve the problem of difficult financing,and provide them with free disposable funds to increase the investment in green technology innovation;through a strict information disclosure system,the information asymmetry is reduced,so that enterprises and investors can form a risk-sharing mechanism;green bond financing brings green reputation to enterprises and enhances their green image,which in turn increases the public recognition after forming green technology innovation.After the technological innovation,it enhances the public recognition and promotes more consumers to pay for its green financing behavior,thus forming a virtuous cycle.In terms of data indicators,comparing the innovation performance indicators before and after the issuance of green bonds,it is found that there is a significant increase in innovation input,innovation output and innovation revenue,indicating that the use of green bond financing has a positive impact on its green technology innovation.This paper adopts a combination of quantitative and qualitative approaches and seeks to draw universal conclusions,which to a certain extent makes up for the lack of case studies in green bonds.