The Impact Of Environmental Information Disclosure On The Cost Of Debt Financing

At present,while the economy is developing fastly,issues such as environmental pollution is becoming increasingly prominent.For the sake of sustainable development in the future,various countries set store by environmental protection,the public’s environmental awareness is also getting stronger.China also attaches great materiality and endeavor to it.In order to reach this target,the Ministry of Ecology and Environment issued the "Administrative Measures for the Lawful Disclosure of Enterprise Environmental Information" in 2021,which marks the further aggrandizement of information disclosure,which shows that China set more and more store by environmental information disclosure.In addition,in the context of the development of green credit,a series of institutional regulations promulgated by the state,which closely link environmental information disclosure with corporate financing,it can force enterprises to set store by environmental protection issues,at the same time,voluntarily disclose environmental information.Therefore,combined with the current institutional background and development form,as the backbone of economic development,The study of the correlation between environmental disclosure and debt financing is of great materiality.This article first collates the relevant research,and relate to theories,to deeply analyze how environmental information disclosed by enterprises affects the availability of funds.Then analyze the current state of environmental information disclosure in the papermaking industry and the peculiarity of financing,moreover,analyze the correlation between the two.It can be found based on the study,enhancing the mass of environmental revelation be able to decrease the cost of corporate debt financing.In addition,on this basis,Chenming Paper was selected for case study.First of all,analyze the debt financing state of Chenming Paper and the current status of indicators that reflect it,as well as the manifestation in terms of environment,and the status of disclosure.Secondly,through trend analysis and correlation analysis,comprehensively analyze the movement of both.Then analyze the reasons for the change in the financing cost of Chenming Paper’s debt.And put forward achievable proposal for the issues existing in the enterprise.Finally,summarize the entire text,three dimensions of recommendations are made:government enterprises and the public.