Research On The Mechanism And Effect Of Green Bonds To Promote Green Transformation Under The Background Of Carbon Peak And Neutrality

Driven by the "dual carbon" policy and sustainable development strategy,green transformation has become the only way for microeconomic entities to achieve high-quality development.Therefore,chemical companies with high pollution and emissions should take the lead in fulfilling their social responsibilities and strive to transform into green chemical companies in the process of the country achieving the "dual carbon" target.However,companies often face two major challenges of insufficient power and funds in realizing green transformation.Therefore,the country vigorously develops green bonds to help companies achieve green transformation.In this context,this article takes Rongsheng Petrochemical,a leading company in the chemical industry,as the research object to explore the mechanism and effect of Rongsheng Petrochemical’s green transformation through the issuance of green bonds.Firstly,this article analyzes the motive for Rongsheng Petrochemical to issue green bonds from the development status of green bonds and industry green transformation,institutional background,and other aspects.Secondly,the mechanism by which Rongsheng Petrochemical’s issuance of green bonds promotes green transformation is studied.Finally,the effect of Rongsheng Petrochemical’s three issuances of green bonds on promoting green transformation is analyzed from four aspects: stock price,economy,environment,and reputation.Through research,this article concludes that there are two starting points for Rongsheng Petrochemical’s issuance of green bonds: cost-benefit considerations and response to policy calls.The green bonds,through four mechanisms of fund support,public supervision,policy dividends,and social reputation incentives and constraints,solve the problems of insufficient power and funds in green transformation,realize the transformation of green innovation results,and improve production capacity utilization,promoting green transformation.The issuance of three green bond issuances has brought positive stock price benefits,financial benefits,environmental benefits,and reputation benefits to Rongsheng,but has also led to an increase in financial risks,requiring enterprises to do risk prevention.Finally,this article gives suggestions at the national,investor,and enterprise levels,suggesting the implementation of incentive mechanisms and the improvement of the green bond information disclosure mechanism to regulate the green bond market,better serve green transformation,promote the entire industry’s green transformation,and ultimately achieve the "dual carbon" target.