“This paper examines how climate risk affects firm performance, with a focus on the moderating role of corporate social responsibility (CSR). Furthermore, we investigate how national culture and religiosity impact the extent to which CSR alleviates the adverse effects of climate risk.” (Ozkan et al., 2022, p. 1)
Mis on olulisim globaalne oht organisatsioonidele?
“For instance, according to a recent report published by the World Economic Forum (2019), extreme environmental events are the most significant global threats for corporations.” (Ozkan et al., 2022, p. 1)
“We empirically investigate these research questions in an international setting with a large dataset comprising 2063 listed firms in 49 countries over the period 2010−2017.” (Ozkan et al., 2022, p. 2)
“Following Huang, Kerstein and Wang (2018), as a measure of climate risk (Climate risk)weuse the climate risk index, which has been published by Greenwatch since 2006 (Eckstein et al., 2019). The global climate risk index evaluates countries for each year based on the occurrence of weatherrelated events such as storms, floods, and temperature extremes. There are four main indicators of the climate risk index, namely the number of deaths, the number of deaths per 100,000 habitants, the sum of losses in $US in real terms, and the losses per unit of GDP.” (Ozkan et al., 2022, p. 7)
“We found that climate risk is positively associated with CSR. This suggests that firms respond to climate-related risks by increasing CSR engagement. Furthermore, we provided robust evidence that climate-related extreme events adversely impact firm performance and that firms can mitigate the performance-lowering effects of climate risk by enhancing their CSR performance. Taken together, our main findings lend support to the view that CSR has risk-management benefits.” (Ozkan et al., 2022, p. 17)
Ozkan, A., Temiz, H., & Yildiz, Y. (2022). Climate Risk, Corporate Social Responsibility, and Firm Performance. British Journal of Management, n/a(n/a), 1–20. https://doi.org/10.1111/1467-8551.12665