Measurement of firm climate risks
企業の気候リスクの計測 (AI 翻訳)
Rui, Meng, Shan, Hongyu
🤖 gxceed AI 要約
日本語
本稿は企業レベルの気候リスク曝露を物理的リスクと移行リスクに分けて計測し、時系列・横断面の変動を捉える手法を提示する。特に移行リスクが高く、積極的に対応しない企業は投資家から割引される傾向が強まっていることを示し、投資・グリーンイノベーション・雇用戦略の差異も説明できると論じる。
English
This chapter introduces firm-level measures of climate risk exposure, distinguishing physical and transition risks while capturing time-series and cross-sectional variation. It shows that firms with high transition risk, especially those not responding proactively, are increasingly discounted by investors, and these measures help explain differences in investment, green innovation, and employment.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本ではSSBJ開示や有報での気候関連情報が義務化されつつあり、企業の気候リスク計測は投資家対応に直結する。本稿の手法は日本企業の開示実務や投資家向け説明に応用可能で、移行リスクへの対応不足が評価に与える影響を示す点で示唆に富む。
In the global GX context
With ISSB and CSRD mandating climate disclosures, firm-level climate risk measures are crucial for investors. This chapter provides a robust methodology that can inform global disclosure standards and help investors differentiate proactive firms, contributing to the broader climate finance literature.
👥 読者別の含意
🔬研究者:Provides a validated methodology for measuring firm-level climate risks and linking them to market outcomes.
🏢実務担当者:Offers a framework to assess and communicate climate risk exposure, aiding in investor relations and strategic planning.
🏛政策担当者:Highlights the market's pricing of transition risk, supporting the case for mandatory climate disclosures.
📄 Abstract（原文）
This chapter presents firm-level measures of climate risk exposure, distinguishing between physical and transition risks while capturing both time-series and cross-sectional variation. These measures also help identify firms that respond proactively to climate challenges. We demonstrate that these measures have significant implications for firm performance in capital markets and for predicting real economic outcomes. In particular, firms with high transition risk - especially those that fail to respond proactively - have been increasingly discounted by investors as aggregate attention to climate issues has grown. We further show that these measures help explain the systematic differences in firm activities, including variations in investment, green innovation, and employment strategies. © 2026, the contributors. All rights reserved.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.1201/9781032636252-13first seen 2026-08-04 04:41:15
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