Research On The Motivation And Effect Of Green Bond Financing In JL Corporation

Since the 18th National Congress,China has continued to emphasise the importance of economic development and ecological civilisation building in harmony,following which the “dual carbon” goal was introduced,further promoting the establishment of a green economy and low carbon development system in China.In the report of the 10 th National Congress,it is again emphasized that the development of China’s green and lowcarbon economy cannot be achieved without the support of green finance,So China has been committed to optimizing green finance-related policies and regulating incentive mechanisms,and building a more perfect green finance standard system.With the continuous development and improvement of China’s green financial system,the green bond market is developing rapidly and have become the preferred financing option for many companies making the green transition.On the other hand,in the context of a green and low-carbon economy,in order to promote the high-quality development of the energy and electricity industry,the industry has accelerated the transformation and upgrading of the energy structure and the construction of a new green and low-carbon energy system.For the energy and power industry,the strategic transformation of enterprises to green and low-carbon is mainly to vigorously develop clean energy power generation and carry out various green projects,such as wind power and photovoltaic power generation,which are all green industry projects supported by national green bonds,which are all green industrial projects that are in line with the national green bond support.Therefore,this paper selects energy and power enterprises to carry out green bond financing for case study.This paper selects JL,a large scale company in the clean energy power generation industry,and takes its green bond issued in 2021 as an example to study the background,motivation and effect of its green bond issuance.Firstly,we introduce the current development of China’s green bond market and analyze the environmental background of JL’s green bond issuance in the context of the green and low-carbon transformation development of the energy and power industry.The internal motivation of JL’s green bond issuance is to improve the company’s strategic layout,realize its financing needs and establish its green image.For JL’s green bond financing effect,firstly,the short-term announcement effect,the event of JL issuing green bonds will have a positive effect on the company’s share price in the short term;secondly,the financial effect,which is conducive to reducing the company’s financing costs and enhancing its business income;thirdly,the environmental effect,which has significant carbon emission reduction and other environmental benefits;fourthly,the social effect,which can effectively promote regional economic development,promote the structural transformation of the energy industry,as well as help China’s social economy achieve the goal of green and low-carbon development.Finally,based on the conclusions of the analysis,the following two suggestions are made.From the perspective of green bond issuers,it is suggested that enterprises should vigorously carry out green project construction and give full play to the advantages of green bond financing,while focusing on green bond information disclosure and green bond risk prevention and control;from the perspective of further improvement of the green bond market,relevant suggestions are made mainly from three perspectives: enhancing the participation of China’s green bond market,promoting the high-quality development of the green bond market and promoting the innovative development of the green bond market.