气候风险和绿色创新-ESG脱节:来自中国的确证据
Ran Liu1, Xuehong Zhu1,2, Jinyu Chen1,2
1Business School, Central South University, Changsha, Hunan, China.
概括
气候风险加剧了企业绿色创新与环境,社会和治理 (ESG) 评分之间的脱节. 这种不匹配会损害公司业绩和未来的增长,特别是在中国.
科学领域:
- 环境经济学环境经济学
- 企业金融公司财务
- 气候变化研究 气候变化研究
背景情况:
- 量化企业层面的气候变化暴露是理解微型组织影响的重要障碍.
- 现有的研究缺乏对气候风险对企业战略影响的微观分析.
研究的目的:
- 构建企业级气候风险指标,并研究它们对中国绿色创新与ESG关系的影响.
- 调查气候风险如何影响绿色创新 (手段) 和ESG评分 (结局) 之间的脱节.
主要方法:
- 对气象因素的手工收集数据,以创建企业级气候风险指标.
- 对气候风险对绿色创新和ESG脱节的缓解影响的实证分析.
- 检查所有权,治理质量和首席执行官权力的缓和效应.
主要成果:
- 气候风险显著加强了绿色创新与ESG的脱节,表明了手段和目的的脱.
- 这种影响对私营企业,高治理质量的公司和拥有强大的首席执行官的公司来说不那么明显.
- 气候风险引起的脱节导致企业业绩波动,并降低了未来的增长潜力.
结论:
- 气候风险加剧了绿色创新和ESG之间的不协调,破坏了它们的协同潜力.
- 这项研究提供了初步的微观证据,表明气候风险可能导致手段和目的不合理.
- 调查结果强调了将气候风险评估纳入企业战略和ESG评估的必要性.
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