Research On Risk Identification And Control Of TsingSound Green Asset Securitization Financing

The waste electricity product treatment industry is an important part of the green industry,especially the deterioration of the ecological environment in recent years,which leads to the promotion of ecological civilization by the state,and the "green" factor into enterprises and individuals.For the green renewable energy industry in our country and even the whole world,the promotion of pollution treatment industry is increasing,followed by a period of rapid development.China is in rapid economic development,but the state subsidy gap for green environmental protection industry is increasing year by year,financial funds can not be allocated to enterprises in time,so that those rapidly expanding enterprises debt risk increases year by year,financial risk remains high financial risk remains high.It provides a way of thinking for the waste electricity product processing enterprise to solve the fund problem.This paper uses literature review and case analysis to write the paper,first introduces green asset securitization based on green finance literature and cases,then introduces the concept definition of green finance,asset securitization and green asset securitization.The theory of green asset securitization mainly includes expected income theory,principal-agent theory and bankruptcy isolation theory.Based on this,it enlightens Sande case company,including basic situation,financing situation,feasibility of green asset securitization and financing motivation analysis,The analysis of feasibility reasons mainly includes three reasons: widening financing channels,improving asset liquidity and responding to green financial policy.Then,it introduces the special plan,and finally analyzes the risks involved in the process of green asset securitization,carries on the risk identification of the whole process,and then puts forward the corresponding control measures.Based on the research,we can conclude that there are four main risks involved in the green ABS project: the risk between basic assets and underlying assets,the risk related to special plan management,the risk related to asset-backed securities and other risks.According to the situation of the project,we put forward the targeted control measures for the larger risk which can be controlled artificially,There are mainly set up stress test cash flow coverage mechanism,difference payment start event,bankruptcy isolation mechanism,start difference payment event,rating agency real-time monitoring and adjustment rating and liquidation group allocation of funds,etc.Finally,some suggestions are put forward for green asset securitization in this case.