Climate risk and corporate energy strategies: Unveiling the Inverted-N relationship

Yuqi Su, Gary Gang Tian, Hai-Chao Li and Chante Jian Ding

Energy, 2024, vol. 310, issue C

Abstract: Mitigating corporate energy consumption is essential for addressing environmental challenges and promoting global economic and social progress. Climate risk, however, has complex effects on corporate energy consumption. Therefore, understanding the true impact of climate risk on energy consumption is crucial for sustainable development. This study examines data from Chinese A-share listed companies to investigate these effects. The findings reveal a significant inverted N-shaped relationship between climate risk and corporate energy consumption, indicating that climate risk influences energy use in a non-uniform manner, rather than merely facilitating or inhibiting it. Furthermore, this inverted N-shaped relationship varies by industry and region. Green technology innovation also moderates this relationship, smoothing the inverted N-shaped curve and negatively impacting the correlation between climate risk and energy consumption. This study presents a novel theoretical framework for analyzing the interplay between climate risk, green technology innovation, and corporate energy consumption, providing insights to help companies develop effective energy-saving and emission reduction strategies for a sustainable green transformation.

Keywords: Climate risk; Energy consumption; Green technology innovation; Energy saving and emission reduction (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:310:y:2024:i:c:s0360544224027427

DOI: 10.1016/j.energy.2024.132968

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