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Extreme weather, financial losses, and corporate carbon reduction efficiency

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  • Zhao, Yunfei
  • Zhang, Huachen

Abstract

This paper empirically analyzes the relationship between extreme weather, financial losses, and corporate carbon reduction efficiency, based on sample data from Chinese listed companies during the period from 2014 to 2023. The empirical results indicate a significant negative correlation between extreme weather and corporate carbon reduction efficiency; there is notable heterogeneity in the negative impact of extreme weather on carbon reduction efficiency between heavily polluting and non-heavily polluting enterprises. Additionally, financial losses triggered by extreme weather may inhibit corporate carbon reduction efficiency. Moreover, the mediating effect of financial losses is heterogeneous between heavily polluting enterprises and non-heavily polluting enterprises.

Suggested Citation

  • Zhao, Yunfei & Zhang, Huachen, 2025. "Extreme weather, financial losses, and corporate carbon reduction efficiency," International Review of Economics & Finance, Elsevier, vol. 102(C).
    • Handle: RePEc:eee:reveco:v:102:y:2025:i:c:s105905602500512x
    DOI: 10.1016/j.iref.2025.104349
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