Corporate awareness and readiness to climate change: Evidence from the GRINS project on Piedmont data

Vera Palea (), Silvia Gordano (), Aline Miazza (), Michele Lemme () and Alessandro Migliavacca ()
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Vera Palea: Department of Economics and Statistics “Cognetti de Martiis”, University of Turin, http://www.est.unito.it/
Silvia Gordano: Department of Economics and Statistics “Cognetti de Martiis”, University of Turin, http://www.est.unito.it/
Aline Miazza: Department of Economics and Statistics “Cognetti de Martiis”, University of Turin, http://www.est.unito.it/
Michele Lemme: Department of Economics and Statistics “Cognetti de Martiis”, University of Turin, http://www.est.unito.it/
Alessandro Migliavacca: Department of Economics and Statistics “Cognetti de Martiis”, University of Turin, http://www.est.unito.it/

Department of Economics and Statistics Cognetti de Martiis. Working Papers from University of Turin

Abstract: This study employs unique firm-level survey data from the GRINS research project to map climate strategies of companies operating in the Piedmont region and their associated governance factors. Drawing on a sample of 2,121 companies, mainly SMEs, we categorized firms’ responses to climate risks into different clusters based on climate-related investments made and planned (“Wait-and-see”, “Planners”, “Foresighted”, and “Proactive”), and assessed their prevalence. Our findings indicate that most Piedmont companies adopt a “wait-and-see” approach to climate investments, while approximately 20% exhibit a “proactive” climate profile. More proactive climate strategies appear to be positively associated with corporate literacy on sustainability issues, active participation in training activities, the presence of a sustainability manager, and the preparation of a sustainability report. These findings provide valuable guidance for policymakers in supporting firms’ commitment to aligning with EU climate objectives.

Pages: 18
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