绿色金融赋能电商供应链绿色转型研究——以京东“青流计划”为例

Research on Green Finance Empowering the Green Transformation of E-Commerce Supply Chains—Taking JD.com’s “Qingliu Plan” as an Example

摘要: 本研究以京东集团“青流计划”为研究对象，深入探讨绿色金融赋能电商供应链绿色转型的作用机制与实践成效。研究表明，绿色金融通过资本撬动机制、风险分担机制和协同激励机制三大机制的共同作用，推动供应链各环节的绿色变革。在环境绩效层面，绿色债券等工具为新能源物流车、光伏仓储等低碳设施提供规模化资金支持，助力碳减排；在循环经济体系构建层面，绿色供应链金融通过优惠融资条件激励上下游企业采用循环包装等绿色方案，带动500余家合作伙伴协同降碳；在商业价值层面，绿色转型显著提升品牌形象与消费者认可度，形成环境与经济效益的双重正循环。本研究为理解绿色金融在电商经济绿色转型中的微观作用机制提供了新证据，也为电商行业推进碳中和目标提供了可供借鉴的实践经验。

Abstract: This study takes JD Group’s “Qingliu Plan” as the research subject, delving into the mechanisms and practical effects of green finance in empowering the green transformation of e-commerce supply chains. Research indicates that green finance drives green transformation across various stages of the supply chain through the combined effects of three key mechanisms: capital leverage, risk-sharing, and collaborative incentives. At the environmental performance level, tools such as green bonds provide scaled financial support for low-carbon facilities like new energy logistics vehicles and photovoltaic warehouses, aiding carbon emission reduction. In terms of circular economy system construction, green supply chain finance incentivizes upstream and downstream enterprises to adopt green solutions such as circular packaging through preferential financing conditions, fostering collaborative carbon reduction among over 500 partners. From a commercial value perspective, green transformation significantly enhances brand image and consumer recognition, creating a dual positive cycle of environmental and economic benefits. This study offers new evidence for understanding the micro-level mechanisms of green finance in the green transformation of the e-commerce economy, while also providing practical experience for the e-commerce industry to advance its carbon neutrality goals.