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The recent meeting of G-20 world leaders, held in New Delhi, in 2023, highlighted that the physical effect of climate change has considerable macro-economic costs at the national and global levels and they have also pledged to accelerate the clean, sustainable and inclusive energy transition along a variety of pathways. Climate change could pose various emerging risks to the firm’s operational and financial activities, specifically for those which are belonging to the energy sector. Thus, this study aims to investigate the impact of climate risks on the financial performance of select energy companies from G-20 countries.

The study considered 48 energy companies from G-20 countries as the sample for the period of 2017 to 2021. To measure the climate change-related physical risks, the study has considered the ND-GAIN climate vulnerability score and the firm’s financial performance has been measured by return on assets, return on equity, return on capital used and price-to-book ratio. To examine the impact of climate risks on the financial performance of the sample companies, the authors have used pooled ordinary least squares (OLS) and fixed/random effect regression analysis and required data diagnosis tests are also performed.

The empirical results suggested that climate risks negatively impacted the financial performance of the sample companies. The market performances of the firms are also being impacted by the physical climate change. The results of panel data regression analysis also confirmed the robustness of the empirical results derived from the pooled OLS analysis suggesting that firms that operated in a less climate-risky country, financially performed better than the firms that operated in a more climate-risky country.

The paper has significant practical implications like it could be helpful for the policymakers, investors, suppliers, researchers and other stakeholders in developing deeper insights about the impact of climate risks on the energy sectors from an international perspective. This study may also help the policymakers in developing policies for the management of climate risk for the energy sector.

This study adds insights to the existing literature in the area of climate risks and firm’s financial performance. Moreover, this may be the first study that attempts to evaluate the impact of climate risks on the financial performance of select energy companies from the G-20’s perspective.

This paper aims to unravel the relationship between market-driven impacts of climate change and firms’ deployment of renewable energy (RE) innovation. The purpose is to understand how market-related forces, influenced by uncertainty, shape firms’ behaviour in response to climate change challenges.

Drawing on the behavioural theory of the firm (BTOF), the paper develops a conceptual model to decode the relationship between each category of market-driven impacts and the resulting RE innovation within firms. The model takes into account the role of uncertainty and differentiates between multinational enterprises (MNEs) and domestic firms.

The analysis reveals five key sources of market-driven impacts: investor sentiment, media coverage, competitors’ adoption of ISO 14001, customer satisfaction and shareholder activism. These forces influence the adoption of RE innovation differently across firms, depending on the level of uncertainty and the discrepancy between environmental performance and aspiration level.

This paper contributes to the literature in four ways. Firstly, it emphasises the importance of uncertainty associated with market-driven impacts, which stimulates different responses from firms. Secondly, it fills a research gap by focusing on the proactivity of firms in adopting RE innovation, rather than just operational strategies to curb emissions. Thirdly, the paper extends the BTOF by incorporating the concept of uncertainty in explaining firm behaviour. Finally, it provides insights into the green strategies of MNEs in the face of climate change, offering a comprehensive model that differentiates MNEs from domestic firms.

Purpose – Adaptation to climate change requires that the population at risk and decision makers in various sectors become aware of the possible detrimental impacts in order to take whatever action is needed, especially in highly vulnerable countries and regions. In order to assess the climate change and impact awareness in a particularly vulnerable area – the Indian city Hyderabad, located within a semiarid region – we wanted to learn more about the local climate discourse, in particular the daily newspaper coverage of climate change and weather extremes.

Methodology/approach – After having looked at the Indian climate change discourse (CCD) in general, based on literature review, we were studying the local public CCD, based on the in-depth analysis of two English language daily newspapers, and three Telugu (the dominant local language) daily newspapers, covering the period of 2008–2009. This qualitative and quantitative analysis was completed by two expert interviews with local journalists.

Findings – We find that the more recent Indian CCD has shifted if compared to the dominant argumentation pattern of the period before, as reported in other analyses. While the former discourse was characterized by the scheme “the poor/developing countries suffer from anthropogenic climate change caused by the industrialized countries,” the recent Indian CCD has become more differentiated, taking into account both impacts elsewhere, and, most notably, conceding a (limited) responsibility of countries like India. On a local level, while reports on weather extremes are very common, we find that local newspapers of Hyderabad do not provide a link between these extreme events and (global) climate change.

Research limitations – Our discourse analysis could only cover a short time period of a local CCD, leaving open the questions of (a) its further development, and (b) how things might stand in other places in India. Furthermore it would be necessary to complement our study by analyses of the impact of mass media reporting on people's attitudes and behavior.

Originality/value of paper – Given the importance of public participation in adaptation measures, it is crucial to know if and how the wider public and the majority of the nonexpert public administration (which needs to be involved) understands the causes, potential impacts, and possible adaptive action in the face of climate change. This chapter provides a necessary (though not sufficient) element for that assessment. The findings can help to identify weaknesses, and thus to give hints how to improve the adaptive capacity in places like Hyderabad (India).

Purpose – To investigate the potential impacts of future climate change in the United Kingdom on its road and rail networks.

Methodology/approach – The climate change impacts of increasing summer temperatures, decreasing winter temperatures, increased heavy precipitation, greater numbers of extreme weather events and rises in sea level are reviewed.

Findings – Surface transportation is the most exposed element to the localised impacts of climate change. High summer temperatures will result in road rutting, rail buckling and decreased thermal comfort, whereas more intense winter precipitation will cause flooding, landslips and bridge scour across all modes. For all impacts, it is the extreme events (e.g. heat waves and storms) that are potentially the most devastating. As shown, there are some positive climate change impacts. For example, in the case of winter maintenance, all transport networks stand to benefit.

Originality/value – In order for transport to react appropriately to the potential changes in climate, it is essential to understand how the road and rail networks may be affected and to build strategies for both adaptation and mitigation into plans for future developments for both modes.

This study examines the evidence of the impact of climate change on the financial performance of basic materials companies in Vietnam.

The research sample includes eighty-two basic materials companies listed on the Vietnamese stock market from 2003 to 2022. This study used one-way and two-way fixed-effects feasible generalized least squares (FGLS) estimation methods.

Climate change, measured through variables including changes in temperature, average rainfall, greenhouse gas emissions and rising sea levels, has a negative impact on the financial performance of companies in this industry. The study also found that, with rising temperatures, the financial performance of steel manufacturing companies decreased less than that of coal mining and forestry companies, but increasing greenhouse gases and rising sea levels reduced the financial performance of steel companies. We did not find evidence of any difference in the impact of climate change on the financial performance of basic materials companies before and after the UN Climate Change Conference (COP 21). This is a new finding, which is consistent with empirical studies in Vietnam and different from previous studies in that it provides new evidence on the impact of climate change on the financial performance of basic materials companies in the Vietnamese market and cross-checks the impact of climate change by sector and over time.

To the best of our knowledge, this is one of the first articles on climate change and the financial performance of basic materials companies.

Climate change increases systematic risk for firms, especially those in the agricultural industry. Therefore, the need to examine the consequences of climate-related risks on agribusiness companies' financial performance across the globe and emerging markets has risen. In this context, the paper aims to investigate the effects of climate change risks on the financial performance of agriculture listed firms in Vietnam.

The study sample includes 77 Vietnamese listed firms in the agricultural industry in the period of 2015–2019. The authors chose temperature, wind, rainfall and humidity proxies to measure climate change. The OLS regression, random regression and sub-sample analysis have been used to examine the impacts of climate risks on firms' financial performance.

Empirical results show that rain and temperature have positive impacts on financial performance of Vietnamese agriculture listed firms, while wind and humidity have insignificant impacts on financial performance.

The research helps researchers, businesses, practitioners and policymakers interested in the agricultural industry, especially those in developing and emerging countries, to develop a deep understanding of the impact of climate change risks on firm performance and therefrom prepare necessary measures to reduce the negative impacts.

This study adds to the literature stream on the impacts of climate change on financial performance. It is the first study to investigate this impact in Vietnam, a country which depends mainly on agriculture.

This paper aims to investigate the impacts of climate change on the People's Republic of China's (PRC) grain output using rural household survey data. The paper highlights the regional differences of impacts by estimating output elasticities (with respect to climate change) for different grain crops and different regions.

The paper uses production function to investigate the responses of grain output to climate variables as well as other traditional input variables. The use of production function approach allows us to do away with the competitive land market assumption as required in the Ricardian approach. The paper will use interaction terms of climate variables and regional dummies to capture the regional differences of climate change impact on grain crops.

The results indicate that the overall negative climate impacts on the PRC's grain output range from −0.31 to −2.69 percent in 2030 and from −1.93 to −3.07 percent in 2050, under different emission scenarios. The impacts, however, differ substantially for different grain crops and different regions.

This paper addresses the limitations of existing literature by highlighting regional differences and crop varieties using the most recent nationwide rural household survey data. The results indicate pronounced regional differences and crop differences in the impacts of climate changes on PRC's grain output.