Author, as appears in the article.: Barbera-Marin, MG; Fabregat-Aibar, L; Neumann-Calafell, AM; Terceno, A
Department: Gestió d'Empreses
URV's Author/s: Barberà Mariné, Maria Glòria / Fabregat Aibar, Laura / Neumann Calafell, Andreu Michael / Terceño Gómez, Antonio
Keywords: European financial market Emissions Climate risk Climate change Carbon intensity
Abstract: Climate change has become a risk that companies, governments and stakeholders must consider. Climate risk affects everything from people's health to the performance of companies. The European Union has approved various legislations and action plans to counteract the effects of climate change in a pioneering strategy. Companies can play a critical role in mitigating climate change and creating a more sustainable future by integrating environmental considerations into their decision-making processes. However, this integration may impact their performance. This paper aims to analyse the effect of climate change on the stock returns of European companies. The study sample consists of 265 companies listed in the Stoxx 600 index between 2015 and 2021 and the methodology used is the econometric method for panel data. The results show that carbon emissions have a negative effect on the performance of companies. Oppositely, a good rating in the environmental pillar has a positive impact on returns.
Thematic Areas: Zootecnia / recursos pesqueiros Waste management and disposal Saúde coletiva Química Psicología Planejamento urbano e regional / demografia Medicine (miscellaneous) Medicina veterinaria Medicina ii Medicina i Materiais Matemática / probabilidade e estatística Management, monitoring, policy and law Interdisciplinar Geografía Geociências General medicine Farmacia Environmental sciences Environmental engineering Ensino Engenharias iii Engenharias ii Engenharias i Ciências biológicas iii Ciências biológicas ii Ciências biológicas i Ciências ambientais Ciências agrárias i Ciência de alimentos Ciência da computação Biotecnología Biodiversidade Astronomia / física Arquitetura e urbanismo Administração pública e de empresas, ciências contábeis e turismo
licence for use: https://creativecommons.org/licenses/by/3.0/es/
Author's mail: andreumichael.neumann@urv.cat laura.fabregat@urv.cat antonio.terceno@urv.cat antonio.terceno@urv.cat gloria.barbera@urv.cat gloria.barbera@urv.cat
Author identifier: 0000-0002-0077-161X 0000-0001-5348-8837 0000-0001-5348-8837 0000-0003-2578-1301 0000-0003-2578-1301
Record's date: 2024-02-03
Papper version: info:eu-repo/semantics/publishedVersion
Licence document URL: http://repositori.urv.cat/ca/proteccio-de-dades/
Papper original source: Journal Of Environmental Management. 345 118927-118927
APA: Barbera-Marin, MG; Fabregat-Aibar, L; Neumann-Calafell, AM; Terceno, A (2023). Climate change and stock returns in the european market: An environmental intensity approach. Journal Of Environmental Management, 345(), 118927-118927. DOI: 10.1016/j.jenvman.2023.118927
Article's DOI: 10.1016/j.jenvman.2023.118927
Entity: Universitat Rovira i Virgili
Journal publication year: 2023
Publication Type: Journal Publications
Repositori URV