随着生态文明建设的持续推进和可持续发展观念的广泛认可，中国经济向绿色转型的发展趋势已获得社会各界的一致肯定。在此过程中，企业作为促进经济增长、推动环境保护和绿色发展的重要主体，承担着不可忽视的责任。实施绿色环保措施、进行绿色信息公开，已成为企业展示其环境保护和社会责任感的关键途径，对于建立企业形象、增强公众信任以及吸引绿色投资至关重要。因此，本文通过构建企业绿色行为评价体系，从环保理念制度与技术效果层面对企业的象征性环境行为和实质性环境行为进行评分和比较，并选取2012至2022年间沪深A股新能源行业上市公司为研究样本，实证探究新能源企业绿色行为对其债务融资成本的内在作用机制，最终得到结论：企业的绿色行为能有效降低其债务融资成本。通过机制分析发现，企业可以通过两个主要途径降低债务融资成本：一是直接通过获得政府补助；二是通过提高环保形象以增加经营性现金流。异质性分析发现：（1）民营企业相较于国有企业倾向于实施更多绿色行为；（2）权力较集中的企业更倾向于实施绿色行为塑造环保形象来降低债务融资成本；（3）独董占比较低的企业易通过实施绿色行为来获得更低的债务融资成本；（4）存续时间长的企业易实施更多的绿色行为获得债务融资优势。综上，如何促进企业主动积极地实施绿色行为并进行绿色信息的公开，同时有效抑制漂绿行为的出现，已经成为当前环境保护和绿色发展领域面临的一个重要问题。企业绿色行为的动因归根结底是受到利益与责任感的双重驱动，因此，本文基于绿色行为动因及实证研究结果，从政策、监管、市场和企业四个层面提出建议，旨在激励企业真实准确地公开绿色信息，推动企业向更透明和具有高度责任感的发展方向转变。此外，本文希望为政策制定者在制定或完善企业环境信息披露政策时提供有关企业环保绩效评估和监督的方向和依据，支持真正致力于环保的企业，推动中国绿色金融市场朝着更加成熟、健康和可持续的方向发展。

With the continuous promotion of ecological civilization construction and the widespread recognition of sustainable development concepts, the development trend of China‘s economy towards green transformation has been unanimously recognized by all sectors of society. In this process, enterprises, as important entities in promoting economic growth, environmental protection, and green development, bear an undeniable responsibility. Implementing green environmental protection measures and disclosing green information has become a key way for enterprises to demonstrate their sense of environmental protection and social responsibility. It is crucial for establishing corporate image, enhancing public trust, and attracting green investment.Therefore, this article constructs an evaluation system for corporate green behavior, evaluates and compares the symbolic and substantive environmental behaviors of enterprises from the perspectives of environmental protection concepts, systems, and technological effects, and selects new energy industry listed companies in the Shanghai and Shenzhen A-shares from 2012 to 2022 as research samples to empirically explore the internal mechanism of the green behavior of new energy enterprises on their debt financing costs. Finally, the conclusion is drawn that corporate green behavior can effectively reduce their debt financing costs. Through mechanism analysis, it is found that enterprises can reduce financing costs through two main channels: first, directly obtaining government subsidies; The second is to indirectly increase operating cash flow by enhancing environmental image. Heterogeneity analysis found that: (1) private enterprises tend to implement more green behaviors and are more likely to adopt greenwashing behaviors compared to state-owned enterprises; (2) Enterprises with more concentrated power tend to implement green behaviors to shape their environmental image and reduce debt financing costs; (3) Enterprises with low proportion of independent directors are more likely to achieve lower financing costs by implementing green behaviors; (4) Enterprises with longer existence are more likely to implement more green behaviors to gain debt financing advantages.In summary, how to promote enterprises to actively implement green behaviors and publicly disclose green information, while effectively suppressing the occurrence of greenwashing behavior, has become an important issue in the current field of environmental protection and green development. The driving force behind green behavior in enterprises ultimately lies in the dual drive of interests and a sense of responsibility. Therefore, based on the driving force of green behavior and empirical research results, this article proposes suggestions from four levels: policy, regulation, market, and enterprise, aiming to motivate enterprises to truthfully and accurately disclose green information, and promote the transformation of enterprises towards a more transparent and highly responsible development direction. In addition, this article aims to provide direction and basis for policy makers to evaluate and supervise corporate environmental performance when formulating or improving corporate environmental information disclosure policies, support enterprises that are truly committed to environmental protection, and promote the development of China‘s green finance market towards a more mature, healthy, and sustainable direction.