The Impact of Climate Risk Disclosure on Corporate Green Technology Innovation
Amid escalating global climate challenges, the interplay between corporate climate risk disclosure and green technological innovation has become a pivotal scholarly focus in sustainability research. This study empirically examines the impact of climate risk disclosure on corporate green technology innovation and its underlying mechanisms using data from China’s A-share listed companies spanning 2004 to 2022. Key findings reveal that climate risk information disclosure significantly enhances green innovation capabilities through dual pathways: elevating media attention and reducing agency costs. Specifically, media scrutiny exerts external pressure via reputational incentives and public oversight, driving firms to accelerate green technology deployment. Concurrently, reduced agency costs mitigate information asymmetry between shareholders and management, enabling optimized resource allocation for long-term innovation investments. Heterogeneity analysis indicates that this catalytic effect is more pronounced in larger firms and those facing lower financing constraints. The research theoretically and practically elucidates the dual mechanisms through which climate disclosure propels green innovation, providing empirical support for refining corporate sustainability reporting systems and recalibrating regulatory frameworks. Policy recommendations include adopting differentiated climate disclosure standards, strengthening media and investor oversight, and incentivizing green innovation through executive performance metrics to facilitate low-carbon economic transition.
Authors
- Wei Zhong (ORCID: https://orcid.org/0000-0003-2507-3479)
- Ling Jin (ORCID: https://orcid.org/0000-0002-7364-913X)
Institutions
- China Academy of Fiscal Science (CN)
Publication Details
- Journal
- Sustainability
- Published
- 2025-03-18
- DOI
- https://doi.org/10.3390/su17062699
- Citations
- 7
- Primary Topic
- Corporate Social Responsibility Reporting
- Type
- article
- Field-Weighted Citation Impact
- 15.58