Research On The Motivation And Economic Consequences Of The Issuance Of Green Bonds

In the 21 st century,with the rapid development of the economy,ecological destruction,environmental degradation,climate change and so on.In order to balance the relationship between economic development and environmental protection,we need to encourage the economy to invest in green environmental protection industries,develop and implement green projects.Given this,the first time in 2015,China has incorporated “green finance” into the national strategic level;Then,in the report to the 19 th CPC National Congress,China also made clear that it should actively promote the development of green financial instruments;In order to further promote the development of the green industry and the period of the “The14th Five-year Plan period”,it will also be part of the development of the new development of ecological civilization;The central economic work of the central government has repeatedly said that China is trying to achieve carbon and carbon levels by 2030.Therefore,green finance plays a crucial role in the process of green and sustainable development in China,and the green bonds that are going to be studied in this paper are one of the most important financing tools for green finance.For individual individuals,issuing green bonds can broaden their financing and lower costs.For the whole country,the development of emerging financial models such as green bonds can help China’s economy achieve higher quality and higher efficiency transformation and upgrading.Therefore,it is of great theoretical value and practical significance to study the relevant problems of the issuance of green bonds.Based on the study of green finance and green bond,this paper,using the case study method,mainly analyzes the cause of the green bond and its economic consequences.First,this paper introduces the definition,characteristics and identification criteria of green bonds,and provides the basis for the analysis of the following cases.Secondly,this paper introduces the background of the green bond issue of the dragon source power,and analyzes the causes of the issuance of green bonds,mainly including the realization of the enterprise strategic development goal,the demand of the enterprise capital,the reduction of the cost of the enterprise financing,and the four aspects of the green reputation of the enterprise.Then,this paper uses the event research method to analyze the short-term market response of enterprises to issue green bonds.Using the method of horizontal contrast and longitudinal comparison,the key financial indexes are selected,and the financial benefits of the issuance of green bonds are analyzed.Using Eva analysis to issue changes in the value of the enterprise before and after the issuance of green bonds;In addition,the environmental benefits and social benefits of the issuance of green bonds are also evaluated.The conclusion of this paper is that,on the one hand,the choice of issuing green bonds can bring positive effect to the stock price and finance of the enterprise.On the other hand,the issue of green bonds can bring significant environmental benefits to the society,thereby helping the realization of the goal of energy conservation and emission reduction in China.At the same time,it can help the enterprise to shape the green reputation benefit,thus establish a good corporate image,and finally,the present situation of the financing of the green bond of the power of the long source power,from the perspective of the enterprise,to provide some experience for the future of the other enterprises that issue the green bond.