Research On The Motivation And Effect Of Goldwind’s Green Asset Securitization

With the high-speed operation of the economy,the global environmental problems are becoming more and more serious.Since 2016,my country has invested 2-4 trillion yuan every year to deal with ecological problems;in 2020,under the impact of the new crown pneumonia epidemic,my country’s overall economic situation is complicated,the economic recovery and growth in different regions are uneven,and the income and expenditure of enterprises The contradictions are becoming increasingly acute,and the traditional debt-led fund management model is facing serious challenges.As an innovative green financing tool,green asset securitization came into being.There are relatively few case application studies of green asset securitization in the existing research,and there is a certain research space.This paper takes the first domestic green asset-backed securities special plan issued by Goldwind as a case,and conducts a case study on green asset securitization on the basis of theoretical research.Using the method of literature analysis,case analysis and comparative analysis to analyze the special plan,combined with the theory of symbiosis,taking the motivation as the starting point,from the three levels of the enterprise itself,the symbiotic relationship and the symbiotic environment,it is found that there are three motivations: one is to satisfy The second is to obtain implicit political incentives and increase social recognition;the third is to obtain institutional incentives and adapt to the policy environment.Then select the green asset-backed securities of Huaneng FX1 Company for comparative analysis.In the process of comparing and analyzing the plans,the advantages and disadvantages of the plans were also found,and the enlightenment of the issuance of green asset securitization was obtained,and suggestions were put forward for the failure of bankruptcy isolation of the underlying assets,the single entity of securities credit enhancement,and the poor product design structure.Finally,this paper analyzes the effect of issuance from three perspectives of enterprise,environment and society: from the perspective of the enterprise,the special plan saves financing costs and fills the enterprise funds;from the perspective of the environment,it reduces the emission of pollutants such as carbon dioxide and brings environmental benefits,From a social point of view,promote standardized green management,employment in poverty-stricken areas,and improve people’s living standards.We hope to accumulate valuable experience for the subsequent green asset securitization of enterprises.