Impact of Physical Climate Risk on Corporate Environmental Action: Global Evidence From Listed Firms
物理的気候リスクが企業の環境行動に与える影響：上場企業からのグローバルな証拠 (AI 翻訳)
Haiyan Lu, Yingzi Li, Wei Qiang
🤖 gxceed AI 要約
日本語
本論文は、物理的気候リスクが企業の炭素排出削減行動に与える影響を実証的に分析。グローバルなデータを用い、リスクに直面した企業は炭素排出を削減し、環境イノベーションや資産軽量化戦略を採用する傾向があることを示す。また、保険浸透度や輸入依存度の高い国では削減圧力が緩和される一方、低資源・高所得・厳格な気候法の国では削減効果が顕著。企業レベルでは、炭素集約産業や大規模企業、優れた環境ガバナンスを持つ企業で効果が大きい。
English
This paper empirically analyzes how physical climate risk affects corporate carbon emission reduction actions. Using global data, it finds that exposed firms reduce emissions and adopt environmental innovation and asset-lightening strategies. The effect is moderated by country-level factors (insurance penetration, import dependence, endowment, income, climate legislation) and firm-level factors (industry carbon intensity, size, environmental governance).
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
日本企業にとって、気候関連リスク（特に物理的リスク）への対応はTCFD・SSBJ開示の重要な要素。本論文は、物理的リスクが実際に企業の排出削減行動を促す実証的証拠を提供し、日本企業のリスク管理と開示戦略の根拠となり得る。また、保険・輸入依存度などの国の特性が影響する点は、日本の状況を考える上で示唆に富む。
In the global GX context
This study contributes to the global GX scholarship by providing large-scale empirical evidence that physical climate risk drives corporate carbon reduction, beyond mere disclosure. It supports the TCFD/ISSB emphasis on physical risk assessment and highlights country-level contingencies important for cross-border investors and policymakers.
👥 読者別の含意
🔬研究者:Provides robust empirical evidence on the causal link between physical climate risk and corporate emission reduction, with heterogeneous effects across countries and firms.
🏢実務担当者:Offers insights for corporate sustainability teams on how physical risk perception can motivate emission reduction and innovation, and how country context matters.
🏛政策担当者:Indicates that the effectiveness of climate risk in driving corporate action depends on national conditions like insurance markets and legislation, informing policy design.
📄 Abstract（原文）
ABSTRACT As physical climate risk becomes more severe, firm operation activities are greatly influenced. Many studies have examined strategies related to corporate social responsibility, but few have investigated firms' environmental actions. Previous research has found that physical climate risk can increase corporate social responsibility, which is a multifaceted construct. However, the extent to which physical climate risk influences their environmental actions remains unclear. Using global physical climate risk data and firms' carbon emissions, we find that companies exposed to physical climate risk tend to reduce their carbon emissions. Additionally, under physical climate risk, firms tend to choose environmental innovation and adopt an asset‐lightening strategy, which drives carbon emissions reduction. Results also show that firms in countries with more insurance penetration and import dependence reduce the pressure on firms to take environmental actions facing physical climate risk. In contrast, countries with lower endowment, higher income, and stringent climate legislation show carbon emissions reduction effects. At the firm level, firms in carbon‐intensive industries, those of larger scale, and those with superior environmental governance demonstrate more significant carbon emissions reduction in response to physical climate risk. These findings suggest that policymakers should pay attention to corporate carbon reduction effects facing physical climate risk, which are conditional on the country and firm level conditions.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1002/sd.71312first seen 2026-06-14 04:57:13
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