Research On The Measure Of Credit Risk Of Green Credit And Its Influencing Factors

Global environmental issues have become more serious and the concept of sustainable development has received increasing attention.At this stage,China has built a green financial system with green credit as its main body.It has used financial leverage to allocate funds effectively and has imposed constraints on the development of “two high”(ie,high-pollution,high-energy-consuming)enterprises,and at the same time promoted energy conservation and environmental protection.Industrial Development.According to the statistics from the China Banking Regulatory Commission,the overall size of green credit has continued to grow under the promotion of policies,but in recent years,the balance and proportion of loans supporting energy-saving and environmental protection industries have both declined.Green credit is more toward the demand side of energy-saving and environmental protection transformation,and the enthusiasm for participation in the production end of energy-saving and environmental protection industries is not high.The financing issue is still an important factor restricting the development of energy-saving and environmental protection industries.Therefore,exploring the credit risk level and influencing factors of energy-saving and environmental protection industries in green credit has important practical significance for further promoting the development of green credit and improving the financing status of energy-saving and environmental protection industries.Based on the existing research,this paper defines the concept of green credit and introduces the support of green credit for energy-saving and environmental protection industries.Then introduced the connotation and characteristics of green credit credit risk,and analyzed its causes and influencing factors,and introduced the main measurement methods of credit risk.The empirical part uses the KMV model to measure the credit risk of 40 listed companies in the energy conservation and environmental protection industries,and compares and analyzes the credit risk status of the listed companies in the two high industries to explore the characteristics of credit risk in energy-saving and environmental protection industries;The risk measurement results are further selected from the macro and micro perspectives,and regression analysis is performed on the factors that affect the credit risk of listed companies in the energy conservation and environmental protection industry.This study found that compared with the two high industries,the credit risk status of listed companies in energy conservation and environmental protection industries is more stable,but their credit risk status still needs to be further improved;among the macro factors,the proportion of environmental governance investment in GDP and energy conservation and environmental protection The industry credit risk has a significant negative correlation;among the micro influence factors,the company scale and profitability index have a greater impact on the credit risk of energy-saving and environmental protection enterprises.Based on the above analysis,this paper proposes suggestions for improving the development of green credit and improving the financing status of energy-saving and environmental protection industries from the three levels of government,banks and enterprises.