Research On The Causes And Effects Of Green Bonds Issued By Beijing Enterprises Water Group Limited

In recent years,China’s economy has embarked on the fast track of development.At the same time,many ecological and environmental problems have gradually emerged,such as frequent occurrence of extreme weather events,severe smog pollution in various places,and so on.In 2015,the Central Committee of the Communist Party of China and the State Council promulgated the "Overall Plan for the Reform of the Ecological Civilization System." Immediately afterwards,the report of the 19 th National Congress also pointed out that we must vigorously promote the rapid development of green finance in our country.It can be seen from this that the strategic significance of green finance to economic development.The green bonds to be explored in this article are one of the important components of the green financial system.For individual enterprises,by issuing green bonds,they can enrich their financing methods and obtain funds at a lower cost,thereby effectively alleviating the problems of financing difficulties and high financing costs.For the country as a whole,the development of emerging financial models such as green bonds can help our country’s economic structure achieve higher quality and efficient transformation and upgrading.Therefore,the issues related to green bonds to be explored in this article are of great strategic significance to both theory and practice.Starting from the origin and definition of green finance,this paper analyzes the development process of green bonds and the development status of our country’s green bond market.Introduced a representative company in the water industry of China’s nonfinancial enterprises-the green bond "G16 Beikong 1" issued by Beijing Enterprises Water,analyzed the external and internal drivers and financial performance of its issuance,and used event research to explore the stock price effect of issuing green bonds.The results show that the issuance of green bonds will bring significant positive effects to enterprises,which will be of great benefit to the establishment of a good social image and long-term development.Finally,based on the analysis of the current status of the "G16 Beikong 1" issuance,it pointed out the possible risk points of the green bond issuance,and put forward several suggestions from the market,regulatory agencies and enterprises themselves.It can help the further development of China’s green bond market.