Analysis On The Motivation And Effect Of Green Asset Securitization Of Financial Leasing Companies

Green financial leasing is a new trend in the development of the leasing industry and an important driving force for the development of green finance in China.As far as the financial leasing industry is concerned,it is an important juncture for transformation and upgrading,and green financial leasing is an inevitable choice for China’s industry to accelerate the high-quality transformation and better "promote production with financing,strengthen production with financing" and better serve the real economy.Since financial leasing is a combination of financing and financing,the company can carry out financing according to the value of the leased objects.At the same time,the long term,certain scale,simple business process and flexible repayment method of financial leasing can effectively solve the difficult financing situation brought by green projects due to insufficient guarantee conditions and unclear profitability.Therefore,the implementation of green asset securitization by financial leasing companies can broaden the company’s financing channels at low cost and improve asset liquidity.However,China’s green financial leasing industry is plagued with problems such as difficult identification criteria,difficult project identification,difficult financing and imperfect incentive policies,leading to certain restrictions on financial leasing companies in carrying out green leasing business.Asset securitization can effectively alleviate the capital shortage of financial leasing companies and promote their healthy development,while asset securitization also has the advantages of low threshold,increased financing sources,low financing costs,increased capital liquidity and improved capital structure.This paper adopts the case study method,statistical induction method and literature research method,takes the green asset securitization of Ronghe Leasing as the research object,selects 17 Ronghe Green ABN as the case,and introduces the underlying assets of 17 Ronghe Green ABN,the issuance situation,the credit enhancement method and the investment direction of funds,and studies the motivation of the green asset securitization of Ronghe Leasing from its own financing needs and national policy support.The paper then analyzes the effects from the financial perspective,environmental and economic benefits and social perspective.The main conclusions of the paper are: from the financial perspective,the securitization of green assets can improve the financial situation of Ronghe Leasing,enabling the company to broaden financing channels at low cost;reduce the company’s gearing ratio,improve asset liquidity and optimize the capital structure;reduce the financial leverage ratio,reduce financial risks and improve profitability and solvency.From the perspective of environmental economic benefits,the securitization of green assets of Ronghe Leasing uses clean energy to generate electricity to save the use of standard coal and reduce carbon dioxide emissions,which brings implicit benefits.From the social perspective,this note issuance establishes the image of a green company and improves social reputation;it strengthens the company’s awareness of environmental responsibility and promotes the development of green bonds in China.Finally,inspiration is drawn to promote the better development of green asset securitization in the financial leasing industry.The innovation of this paper lies in the fact that the case chosen is the first green asset-backed note with double green nature and leasing debts as the underlying assets in China,and the angle chosen is the combination of financial leasing and green asset securitization.Through the analysis of the motivation and implementation effect of this case,it can provide reference for other financial leasing companies to implement green asset securitization financing.