How do firms' climate-related management and strategy affect climate change risks and opportunities awareness?

Yuchen Shen, Mohammad Tazul Islam, Michiyuki Yagi and Katsuhiko Kokubu
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Yuchen Shen: Graduate School of Business Administration, Kobe University
Mohammad Tazul Islam: Graduate School of Business Administration, Kobe University
Katsuhiko Kokubu: Graduate School of Business Administration, Kobe University

No 2015-26, Discussion Papers from Kobe University, Graduate School of Business Administration

Abstract: Climate change is an international environmental issue that has increasingly attracted business attention in the past decade because of its actual or potential strategic impact on many companies. This study aims to examine how risk and opportunity awareness is correlated with corporate management and strategy. This study obtains firm data from a questionnaire survey of CDP in 2013, and the data includes 899 observations for risk awareness and 827 observations for opportunity awareness in 64 countries and 20 industry groups. Using the data, this study empirically examines how firms’ management and strategy affect risk and opportunity awareness related to climate change in the regression analysis. By regression analysis, we find some types of corporate climate-related governances and strategies are related to risk and opportunity awareness. The regression result also shows that there seems to be few differences between the effectiveness of firms’ climate-related management on their business risk and opportunity awareness related to climate change. Corporate strategies such as setting emissions reduction targets, launching emissions reduction initiatives, participating emissions trading schemes, and originating/purchasing carbon credits are proved found to be beneficial for increasing the corporate risk and opportunity awareness

Keywords: climate change; risk and opportunity awareness; CDP; corporate governance; supply chain activities (search for similar items in EconPapers)
JEL-codes: M14 Q54 Q56 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2015-11
New Economics Papers: this item is included in nep-ene and nep-env
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