美国商业银行的气候风险、ESG表现和ESG情绪

IF 5.5 2区经济学 Q1 BUSINESS, FINANCE

Global Finance Journal Pub Date : 2023-12-21 DOI:10.1016/j.gfj.2023.100924

Otgontsetseg Erhemjamts , Kershen Huang , Hassan Tehranian

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引用次数: 0

摘要

我们通过研究分行层面的数据来衡量美国商业银行的实际气候风险敞口和重要性。我们针对特定地点的气候风险测量结果与银行的环境、社会和公司治理绩效呈正相关，与利益相关者对环境、社会和公司治理问题的看法呈负相关。此外，与匹配的银行相比，经历过诺阿（NOAA）十亿美元灾害所代表的气候风险冲击的银行，其环境、社会和公司治理表现有所改善，并相应地获得了积极的环境、社会和公司治理情绪。虽然气候风险导致的负面情绪与财务业绩的恶化有关，但更强的环境、社会和治理参与可减轻这种不利影响。

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Climate risk, ESG performance, and ESG sentiment in US commercial banks

We measure US commercial banks' exposure to and materiality of physical climate risk by examining branch-level data. Our location-specific climate risk measure is pos- itively associated with banks' ESG performance and negatively associated with stake- holders' sentiment regarding ESG issues. Furthermore, banks that experience climate risk shocks, as proxied by NOAA billion-dollar disasters, improve ESG performance and receive positive ESG sentiment accordingly compared with matched banks. While negative sentiment due to climate risk exposure is associated with worsened financial performance, stronger ESG engagement mitigates this adverse effect.

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来源期刊

Global Finance Journal BUSINESS, FINANCE-

CiteScore

7.30

自引率

13.50%

发文量

106

审稿时长

53 days

期刊介绍： Global Finance Journal provides a forum for the exchange of ideas and techniques among academicians and practitioners and, thereby, advances applied research in global financial management. Global Finance Journal publishes original, creative, scholarly research that integrates theory and practice and addresses a readership in both business and academia. Articles reflecting pragmatic research are sought in areas such as financial management, investment, banking and financial services, accounting, and taxation. Global Finance Journal welcomes contributions from scholars in both the business and academic community and encourages collaborative research from this broad base worldwide.