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Climate Change as a Factor in the Development of Companies: Corporate Strategies and Guidelines for State Industrial Policy

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  • N. E. Terent’ev

    (Institute of Economic Forecasting, Russian Academy of Sciences)

Abstract

— In recent years, the problem of global climate change has become one of the significant challenges for ensuring the sustainability of the functioning and growth in the market value of the world’s leading industrial companies. Based on the latest data, the article describes the scale and impact of climate change on the development of companies and also considers some corporate strategies for reducing climate risks and adapting to the consequences of climate change. It is shown that, acting as a significant factor in the financial losses of business, the growing climate change, at the same time, indirectly contribute to the acceleration of the environmentally oriented transformation of corporate management systems and technological modernization of production complexes, creating, in conjunction with other technological and production trends, new sources of long-term competitiveness and market value. The article presents the characteristics of the priorities in the state industrial policy in the context of climate change.

Suggested Citation

  • N. E. Terent’ev, 2021. "Climate Change as a Factor in the Development of Companies: Corporate Strategies and Guidelines for State Industrial Policy," Studies on Russian Economic Development, Springer, vol. 32(5), pages 485-491, September.
    • Handle: RePEc:spr:sorede:v:32:y:2021:i:5:d:10.1134_s1075700721050130
    DOI: 10.1134/S1075700721050130
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