| Since the Industrial Revolution,human activities have produced a lot of environmental pollution,leading to global warming,and ultimately threatening human survival and development.With the awakening of the global awareness of environmental protection,people began to reflect on the original development model of emphasizing economy over environment.With the steady progress of China’s dual carbon strategy,as a leading enterprise in traditional manufacturing industry,steel enterprises with high energy consumption and high pollution are facing huge carbon reduction challenges.On the other hand,with the implementation of the steel enterprise policy of "controlling production capacity,reducing production and looking back",the steel industry is generally in a downturn.Under the impact of the epidemic,people further realized that green production capacity will be the core competitiveness of the sustainable development of steel enterprises in the future,and steel enterprises have to take green transformation as the current development focus.With the development of green bonds,steel enterprises hope to achieve green transformation through green financial instruments.This thesis selects Xinxing Ductile Iron Pipes,the second steel enterprise that issues green bonds,as the object of study.Through understanding of the current situation of green bonds,steel enterprises and companies operation status,and combining with relevant theoretical knowledge,this thesis discusses why Xinxing Ductile Iron Pipes issues green bonds and the role path and effect of green bonds to help its green transformation.Through carefully research and analyse,the conclusions are as followed:(1)The issuance of green bonds by Xinxing Ductile Iron Pipes is inseparable from the national policy support and the company’s strategic layout.It is intended to meet the company’s demand for green transformation funds,reduce financing costs and improve the company’s reputation through the issuance of green bonds.(2)The issuance of green bonds of emerging cast iron pipes acts on the green transformation of enterprises through four paths,namely,improving the debt structure of enterprises and easing the financing pressure;Improve the green reputation of enterprises and boost investor confidence;Improve resource utilization and reduce waste discharge;Establish a green brand and enhance the competitiveness of enterprises.(3)The issuance of green bonds by Xinxing Ductile Iron Pipes has broadened the financing channels of enterprises,optimized the debt structure of enterprises,improved the solvency of enterprises,solved the mismatch problem of green transformation funds of enterprises,generated positive market reactions,and the company’s development prospects have been recognized by market investors.At the same time,through the investment of raised funds in green projects and the practice of the enterprise’s daily green business philosophy,it has brought good environmental benefits.At the same time,the construction of green factories has warmed the hearts of employees,and the reuse of waste resources has also benefited the surrounding social groups,producing good social benefits.The enterprise’s green brand image has been further deepened,and many honorary titles have been gained,Promoting the green transformation of enterprises is going further and further.Finally,at the end of the article,according to the existing research results,corresponding suggestions are put forward from the perspective of government,enterprises and social investors,with a view to providing reference suggestions for iron and steel enterprises to assist enterprises in green transformation with the help of green bond financing tools. |
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