Research on the Impact of Climate Risks on Corporate Green Innovation

Haoqing Zhen (), Shubei Li () and Li He
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Haoqing Zhen: Faculty of Applied Economics, University of Chinese Academy of Social Sciences, Beijing 102488, P. R. China
Shubei Li: Faculty of Applied Economics, University of Chinese Academy of Social Sciences, Beijing 102488, P. R. China
Li He: Faculty of Applied Economics, University of Chinese Academy of Social Sciences, Beijing 102488, P. R. China

Chinese Journal of Urban and Environmental Studies (CJUES), 2025, vol. 13, issue 03, 1-26

Abstract: As climate change intensifies, climate-related risks have become a key factor in business decisions and innovation. This study examines corporate climate risks using data from Chinese A-share listed companies from 2016 to 2023. It investigates the mechanisms through which climate risks drive green innovation. The results show that higher climate risks significantly boost green innovation, not only in quantity, but also in quality and efficiency. This occurs mainly through internal corporate adjustments and external oversight. Further analysis reveals that the positive impact of climate risks on green innovation is especially strong for larger firms, companies in regions with less strict environmental regulations, and those in highly competitive industries. These findings provide both theoretical guidance and practical insights for companies seeking strategic adaptation and long-term sustainable growth in the face of climate risks.

Keywords: Corporate climate risks; the number of green innovations; green innovation quality; green innovation efficiency; strategic decision-making (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1142/S2345748125500149

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