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Exploring the carbon emission reduction effects of corporate climate risk disclosure: Evidence from the Chinese A-share listed enterprises
Wang, Z. Fu, H. Ren, X. Gozgor, Giray
Wang, Z.
Fu, H.
Ren, X.
Gozgor, Giray
Publication Date
2024-03
End of Embargo
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© 2024 Elsevier Inc. All rights reserved. Reproduced in accordance with the publisher's self-archiving policy. This manuscript version is made available under the CC-BY-NC-ND 4.0 license.
Peer-Reviewed
Yes
Open Access status
embargoedAccess
Accepted for publication
08/01/2024
Institution
Department
Awarded
Embargo end date
12/07/2025
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Abstract
This study reexamines the need for Chinese enterprises to disclose climate risk information in the context of their significant contribution to climate change. The paper proposes climate risk disclosure indicators based on a sample of Chinese A-share listed companies from 2010 to 2020 and their annual reports. It explores the relationship and influencing mechanism between corporate climate risk disclosure and carbon emissions levels. The results of empirical research show that disclosing climate risk information reduces carbon emissions levels, and this mitigating effect is significantly enhanced by the moderating effects of executive environmental experience, investor attention, and government environmental supervision. Heterogeneity analysis further indicates that state-owned enterprises, those with a solid corporate green culture, or industries with high pollution emissions can better exert the carbon emission reduction effect of climate risk disclosure. In addition, physical climate risk disclosure is preferred in terms of short-term carbon emissions. In contrast, transformational climate risk disclosure is selected for long-term carbon reduction goals. Finally, empirical economic analysis indicates that high-quality climate risk disclosure can appropriately mitigate the negative impact of corporate carbon emissions on solvency and profitability compared to firms with lower disclosure levels, highlighting the importance of climate risk disclosure quality.
Version
Accepted manuscript
Citation
Wang Z, Fu H, Ren X et al (2024) Exploring the carbon emission reduction effects of corporate climate risk disclosure: Evidence from the Chinese A-share listed enterprises. International Review of Financial Analysis. 92: 103072.
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Article
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Notes
The full-text of this article will be released for public view at the end of the publisher embargo on 12 July 2025.