Analysis On The Effect Of Green Bonds Issued By Rongsheng Petrochemical

At present,as we increase ecological construction,we are also facing the goal of reaching peak carbon neutralization.Therefore,our economic transformation speed will be accelerated further.To realize the goal of "peak carbon and carbon neutral",promote green transformation of the economic society as a whole,it is necessary to better play the leading and supporting function of green finance and allocate more financial resources to green and low carbon.As one of the important tools of green finance,green bond has been strongly supported by the national policy of our country in recent years,and the system is improving day by day.The issuing scale of green bond is setting a new high,and the market recognition is gradually increasing.Petroleum chemical industry as the pillar industry of the national economy,is important to actively promote the green transformation of the petrochemical industry under the promotion of the dual carbon goal and green transformation.Rongsheng Petrochemical,as a leading enterprise in the petrochemical and chemical fiber industry,actively issued green bonds for green certification projects in compliance with the policy to help optimize and adjust the petrochemical industry.This paper takes Rongsheng Petrochemical as the research object,uses case study method,literature study method and event study method to sort out the issuance process and basic situation of the company’s green bonds,and analyzes its stock price effect,financial effect and non-financial effect,so as to provide reference for other enterprises.Through case analysis,this paper draws the following conclusions: First,green bonds are an effective financing channel for enterprises to construct green projects,and the construction of green projects improves the environmental protection effect of enterprises.Second,issuing green bonds conveys the signal of corporate social responsibility,improves corporate reputation and has a positive impact on corporate stock price.Third,enterprises alleviate financing constraints by issuing green bonds,which improves their financial effect from three aspects: reducing financing costs,optimizing debt structure and improving profitability.To sum up,the green bond issued by Rongsheng Petrochemical has brought positive effects on enterprises and promoted the green development of enterprises.Through the case analysis of green bond financing,it provides some enlightenment to other issuers.Relevant enterprises can make good use of policy advantages,issue green bonds for the construction of green projects in a timely manner,strengthen the disclosure of environmental information,maintain the green reputation of enterprises,and help the national green and low carbon development strategy.