Research On The Motivation And Effect Of Green Asset Securitization Financin

With the continuous economic progress,green development has become the theme of the times.At the 75 th United Nations General Assembly,China made a solemn commitment to the world to "strive to reach the peak of carbon dioxide emissions by 2030,and strive to achieve carbon neutrality by 2060",and established the "30.60" dual carbon target.However,it is not easy to achieve carbon neutrality.To achieve green and sustainable economic and social development requires the active participation of the financial sector.Accelerating the development of green finance,such as green asset securitization,is of great significance to the realization of the national emission reduction goal and the green development strategy.As an innovative financing tool combining asset securitization and green finance,green asset securitization has the advantages of reducing the threshold of enterprise financing,revitalizing the stock assets of enterprises,and reducing the cost of enterprise financing.This paper selects the case of H Lease’s 2020 first phase green asset-backed bill to study the financing method of green asset securitization.Through the analysis of the issuance process,financing motivation and financing effect of this product,it is found that:On the aspect of financing motivation,first,H Leasing Company mainly relies on bank loans for financing,with high financing costs,mismatched assets and liabilities,and large interest expenditure,which affects profitability,so it needs a financing channel to reduce costs.Second,green asset securitization financing in this period is also affected by favorable national policies;In terms of financing effect,First of all,the green asset securitization products in this case can save financing costs for enterprises,improve asset liquidity,improve short-term solvency,stabilize profitability,and improve the comprehensive financial performance of enterprises,but have little impact on the financial risk of enterprises;Secondly,H leasing green asset securitization products have brought energy-saving benefits,greenhouse gas and pollutant emission reduction benefits.In terms of social benefits,the company has improved its social reputation,demonstrated its corporate social responsibility,and promoted the development of national green debt.Finally,according to the conclusion of the case analysis and the problems existing in the development of green asset securitization in China,three enlightenments are obtained: first,we should make full use of policy advantages when choosing financing methods;Second,innovate green financial products and expand financing channels;Third,give full play to the green reputation benefits of enter...