The Assessment On Financing Ability And Financing Risk About Green PPP Projects

China’s green PPP project development time is relatively short.The promotion and application of PPP mode in the field of green environmental protection is too fast.With the continuous expansion of the scope and volume of green PPP projects and the increasing demand for project funds,it is difficult to grasp the risks in the project financing process.Many local governments and social capital fail to pay attention to the financial institutions including investors return on investment,especially the reasonable and lawful requirements of risk control.Difficulty in financing becomes an obstacle to the successful implementation of green PPP projects.There is a mismatch between projects and funding.The research on the financability of PPP projects is based on the feasibility of the project.It analyzes whether the project can be financed from the perspective of key stakeholders.Most local governments only use PPP mode as a means of financing due to their cognitive errors towards PPP projects.The financing evaluation system of PPP projects has not been established,and the research on financing of green PPP projects is more scarce and shallow.In order to improve the financability of green PPP projects,it is necessary to understand the important financing risks affecting financability in the whole life cycle of the project.The financing risk management of green PPP projects is also essential.Therefore,this paper studies the financability and financing risk evaluation of green PPP projects.First of all,this paper introduces the relevant basic theories,and sorts out the financing status of green PPP projects,PPP project financing ability research and financing risk management research.On this basis,we put forward the financing ability and financing risk evaluation method of China’s green PPP project.Secondly,based on the PPP project financing theory and stakeholder theory,we build a green PPP project financing evaluation index system from the perspective of the project compliance of government and social capital and the object of the project itself.Then,we adapt Dematel-ism-ANP method to evaluate the financability and guide the implementation of project financing.In view of this,this study further builds the risk evaluation index system of green PPP project financing based on the whole life cycle theory.We also adapt Dematel-ism-ANP method to evaluate the financing risks.The results show that:(1)Government factors have the greatest impact on the financing ability of green PPP projects,followed by project compliance and project itself,while social capital factors have the weakest impact;(2)The impact of financing risks of green PPP projects is different at each stage.The financing stage has the greatest influence,followed by the construction stage and the handover stage.The preparation stage and operation stage have the least influence on the project financing risk.Finally,based on the results,we provide suggestions for improving the financability of green PPP projects and optimizing financing risk management.This paper evaluates the financability and financing risk of green PPP projects.The aim is to provide references for social capital stakeholders such as local governments and financial institutions to make reasonable and feasible investment and financing decisions.And we put forward suggestions for understanding and effectively preventing the financing risks of green PPP projects.