Climate risk and adaptive green innovation: evidence from China

IF 4 Q2 BUSINESS, FINANCE

China Journal of Accounting Research Pub Date : 2025-10-03 DOI:10.1016/j.cjar.2025.100446

Xudong Tang , Lin Wang , Lulu Pan

引用次数: 0

Abstract

Firms’ adaptation to climate risk is crucial for economic resilience. This paper links 2724 Chinese meteorological stations with A-share listed firms from 2006 to 2020 by geographic proximity. We construct a comprehensive climate risk measure via the entropy method and find that climate risk can promote green invention patent applications at the firm level. Mechanistically, climate risk drives green innovation by strengthening external government environmental regulations and internal corporate environmental responsibility. The effect is stronger in non-polluting industries and when firms receive more attention from social media. This study enhances understanding of firms’ positive adaptation to climate risk and offers new insight into green innovation drivers.

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气候风险与适应性绿色创新：来自中国的证据

企业对气候风险的适应对经济恢复力至关重要。本文以2006年至2020年中国2724个气象站与a股上市公司的地理距离为研究对象。通过熵值法构建了一个综合的气候风险测度，发现气候风险对企业层面的绿色发明专利申请具有促进作用。在机制上，气候风险通过强化外部政府环境法规和内部企业环境责任驱动绿色创新。这种效应在无污染行业和受到社交媒体更多关注的企业中更为明显。本研究增强了对企业积极适应气候风险的认识，并为绿色创新驱动提供了新的见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

China Journal of Accounting Research BUSINESS, FINANCE-

CiteScore

4.70

自引率

0.00%

发文量

295

审稿时长

15 weeks

期刊介绍： The focus of the China Journal of Accounting Research is to publish theoretical and empirical research papers that use contemporary research methodologies to investigate issues about accounting, corporate finance, auditing and corporate governance in the Greater China region, countries related to the Belt and Road Initiative, and other emerging and developed markets. The Journal encourages the applications of economic and sociological theories to analyze and explain accounting issues within the legal and institutional framework, and to explore accounting issues under different capital markets accurately and succinctly. The published research articles of the Journal will enable scholars to extract relevant issues about accounting, corporate finance, auditing and corporate governance related to the capital markets and institutional environment.