Research On The Motivation And Effect Of Green Bond For Shenzhen Energy Group Corporation Limited

With the prosperity and development of China’s economy and society,the environmental problems caused by the rapid economic development in the past have become increasingly significant.As the CPC Central Committee with Comrade Xi Jinping at its core promotes ecological progress,green economy has become the key to economic development in the new era.In September 2015,China proposed for the first time the construction of a green financial system at the policy level,and took this as the cornerstone of green development.Green bonds belong to green financial instruments,and their characteristics of low issuance cost and long maturity are in line with the long construction cycle of green projects.Therefore,the green bond market has developed rapidly and rapidly become the largest and most widely used green financial product in China.Shenzhen Energy has successfully issued five green bonds since 2017.As a power enterprise with a large number of issues and rich bond types,it has great case study value.This paper takes the company as the case object to analyze and summarize the motivation and effect of its green bond financing.We hope to provide some reference and inspiration for Chinese listed companies to adopt green bond financing.The first part of this paper first clarified the research background and significance,and the literature related to green bond financing is reviewed and reviewed.The second part introduces the theoretical basis of this paper,and sorts out the relevant provisions of green bond issuance in China.The third part,in this paper,before the Shenzhen energy in green bond financing enterprise debt structure,financing cost and capital demand arc analyzed.found that Shenzhen energy green bond financing motivation mainly reflected in broadening the financing channels,reduce financing costs,meet the demand of enterprise expansion,alleviate investment and financing period mismatch,attract investors to pay attention to five aspects.In the fourth part,this article through the performance of Shenzhen energy nearly five years of combing,using event analysis and comparative analysis method,first from the market effect,financing cost effect,project economic benefit,financial performance of green bond financing effect,after selecting the energy enterprise ESG evaluation index,from the resource utilization,climate change,pollutant emission reduction and social contribution,the environmental and social benefits of green bond financing are analyzed.The study found that green bond financing has a significant effect on the reduction of enterprise financing costs and the adjustment of debt structure,and has also produced greater environmental and social benefits.In the fifth part,this paper evaluates the effect of green bond financing,and puts forward specific improvement suggestions for the existing problems.Finally,the research conclusions and implications of this paper are drawn.Through the study on the motivation and effect of multiple green bond financing of Shenzhen Energy,it is helpful to analyze the continuous impact of green bond financing on enterprises,and has certain reference significance for the promotion and use of green bonds.