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Research on Risks in Corporate Issuance of Green Bonds: A Case Study of Three Gorges Group
Abstract
With China entering a new era of green, low-carbon, and circular development, the green economy has emerged as a powerful force driving economic transformation. Within this realm, green bonds have increasingly captured the market's attention. This paper adopts a case study approach, focusing on the Three Gorges Group's issuance of green convertible bonds. It examines the details and motivations behind the group's issuance, analyzes its short-term excess yield and long-term debt repayment, operational, and profitability capabilities. Furthermore, the study evaluates risks faced by the Three Gorges Group in issuing green bonds, including interest rate, credit, liquidity, and policy risks. Based on these findings, the paper provides recommendations and insights to guide other enterprises and investors, offering valuable experience in this field.
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