Study On Financial Performance Of Green Bonds Issued By Commercial Banks

In recent years,with the rapid development of global economy,the accompanying environmental problems cannot be ignored.All countries are calling for energy conservation,environmental protection and sustainable development,the concept of green economy has gradually entered the life of the public.The rise of green finance has derived green credit,green bonds,green funds and other innovative green financial products,which can improve the green financial system,support and promote green development.As one of the green financial products,green bonds can not only raise funds to invest in green industry projects,reduce environmental risks,but also promote sustainable social development.Green bonds started relatively late in China.Pudong Development Bank and Industrial Bank did not obtain the administrative permission to issue green financial bonds until the central bank of China issued relevant announcements at the end of 2015.In January 2016,Shanghai Pudong Development Bank completed the book-running issuance of the first green financial bond in China,marking the official journey of China’s green bond issuance.At the beginning of the rise of green bond in our country most of the issuing force were commercial banks which often accounted for more than 50%,so the green finance bond was the most main green bond at that time.Are many banks issuing green bonds just to respond to the call of the state,or are they based on the micro-focus of the implementation effect of green finance policies and considering the impact on their own finances? Did the issuing of green bonds by commercial banks improve their financial situation? In other words,will green bonds have a positive impact on the financial performance of the issuers? This is a question worth discussing.This paper selects SPD Bank as the case study object,combines theory with practice,first builds a theoretical model,analyzes financial performance based on the theory of corporate social responsibility,and then concretely analyzes the financial data of SPD Bank before and after issuing green bonds and the financial data of the same industry at the same time.This paper explores the impact of green bond issuance on the financial performance of Shanghai Pudong Development Bank from four aspects of debt paying ability,operation ability,profitability and development ability,and draws the conclusion of the case: Green bond issuance can improve Shanghai Pudong Development Bank’s debt paying ability;The issuance of green bonds has a positive impact on the operation capacity and profitability of Shanghai Pudong Development Bank.The issuance of green bonds has limited effect on the development ability of Shanghai Pudong Development Bank.Finally,combined with the practice of Shanghai Pudong Development Bank issuing green bonds and the current actual situation,the author puts forward several corresponding countermeasures and suggestions.The government needs to establish and improve the policy support system and supervision system,and appropriately relax the conditions for private enterprises to issue green bonds.At the issue level,it is necessary to cultivate green finance awareness and green finance talents,strengthen information exchange and international cooperation,strengthen information disclosure mechanism,and innovate green business and products.