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The climate-related risk profile of the energy-intensive and natural resource-based industries: Evidence from 2020–2023

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Název: The climate-related risk profile of the energy-intensive and natural resource-based industries: Evidence from 2020–2023
Autoři: Månberger, André, Bauer, Fredric, Nilsson, Lars J
Přispěvatelé: Lund University, Faculty of Engineering, LTH, Departments at LTH, Department of Technology and Society, Environmental and Energy Systems Studies, Resources, Supply Chains and Security, Lunds universitet, Lunds Tekniska Högskola, Institutioner vid LTH, Institutionen för teknik och samhälle, Miljö- och energisystem, Resurser, försörjningskedjor och säkerhet, Originator, Lund University, Faculty of Engineering, LTH, LTH Profile areas, LTH Profile Area: The Energy Transition, Lunds universitet, Lunds Tekniska Högskola, LTH profilområden, LTH profilområde: Energiomställningen, Originator, Lund University, Faculty of Engineering, LTH, Departments at LTH, Department of Technology and Society, Environmental and Energy Systems Studies, Lunds universitet, Lunds Tekniska Högskola, Institutioner vid LTH, Institutionen för teknik och samhälle, Miljö- och energisystem, Originator, Lund University, Faculty of Engineering, LTH, Departments at LTH, Department of Technology and Society, Environmental and Energy Systems Studies, Industrial Transformation, Lunds universitet, Lunds Tekniska Högskola, Institutioner vid LTH, Institutionen för teknik och samhälle, Miljö- och energisystem, Industriell omvandling, Originator, Lund University, Faculty of Engineering, LTH, LTH Profile areas, LTH Profile Area: Food and Bio, Lunds universitet, Lunds Tekniska Högskola, LTH profilområden, LTH profilområde: Livsmedel och bioteknik, Originator, Lund University, Faculty of Engineering, LTH, Departments at LTH, Department of Design Sciences, CIRCLE, Lunds universitet, Lunds Tekniska Högskola, Institutioner vid LTH, Institutionen för designvetenskaper, CIRCLE, Originator, Lund University, Profile areas and other strong research environments, Lund University Profile areas, LU Profile Area: Nature-based future solutions, Lunds universitet, Profilområden och andra starka forskningsmiljöer, Lunds universitets profilområden, LU profilområde: Naturbaserade framtidslösningar, Originator, Lund University, Faculty of Engineering, LTH, LTH Profile areas, LTH Profile Area: Circular Building Sector, Lunds universitet, Lunds Tekniska Högskola, LTH profilområden, LTH profilområde: Cirkulär byggindustri, Originator, Lund University, Faculty of Engineering, LTH, Departments at LTH, Department of Technology and Society, Transport and Roads, Lunds universitet, Lunds Tekniska Högskola, Institutioner vid LTH, Institutionen för teknik och samhälle, Trafik och väg, Originator
Zdroj: Cleaner Engineering and Technology. 27
Témata: Engineering and Technology, Environmental Engineering, Environmental Management, Teknik, Naturresursteknik, Miljöteknik och miljöledning, Social Sciences, Economics and Business, Business Administration, Samhällsvetenskap, Ekonomi och näringsliv, Företagsekonomi
Popis: This study investigates the perception and understanding of climate-related risks among six energy-intensive and natural resource-based industry (ENRI) sectors using data from the CDP survey from 2020 to 2023. ENRI sectors, including fossil fuels; cement and concrete; chemicals; metallic smelting; refining; and forming; metallic mineral mining; and pulp and paper mills, are exposed to significant climate-related risks due to their capital-intensive activities and long investment cycles. Our analysis confirms that ENRI firms identify and report more climate-related risks with higher estimated impacts compared to other firms in some risk categories, indicating higher awareness. However, ENRI firms tend to prioritise risks with high impact and high likelihood, and likely underestimate the uncertainty and financial impacts of climate-related risks, such as stranded assets. The study highlights the need for improved climate risk governance. Investors and voluntary disclosure initiatives should encourage firms to assess and report uncertain and high-impact risks, using explorative scenarios to overcome biases. Policymakers must enhance the credibility of climate policies by implementing comprehensive measures to support industrial transformation and stricter guidelines for climate-related risk disclosure. Understanding ENRI firms' perspectives on risks is crucial for informing policy and investment decisions to ensure alignment with net-zero targets. Future research should explore factors influencing risk perception, mitigation strategies, and business opportunities, and examine firms' processes for identifying and managing climate-related risks.
Přístupová URL adresa: https://doi.org/10.1016/j.clet.2025.101026
Databáze: SwePub
Popis
Abstrakt:This study investigates the perception and understanding of climate-related risks among six energy-intensive and natural resource-based industry (ENRI) sectors using data from the CDP survey from 2020 to 2023. ENRI sectors, including fossil fuels; cement and concrete; chemicals; metallic smelting; refining; and forming; metallic mineral mining; and pulp and paper mills, are exposed to significant climate-related risks due to their capital-intensive activities and long investment cycles. Our analysis confirms that ENRI firms identify and report more climate-related risks with higher estimated impacts compared to other firms in some risk categories, indicating higher awareness. However, ENRI firms tend to prioritise risks with high impact and high likelihood, and likely underestimate the uncertainty and financial impacts of climate-related risks, such as stranded assets. The study highlights the need for improved climate risk governance. Investors and voluntary disclosure initiatives should encourage firms to assess and report uncertain and high-impact risks, using explorative scenarios to overcome biases. Policymakers must enhance the credibility of climate policies by implementing comprehensive measures to support industrial transformation and stricter guidelines for climate-related risk disclosure. Understanding ENRI firms' perspectives on risks is crucial for informing policy and investment decisions to ensure alignment with net-zero targets. Future research should explore factors influencing risk perception, mitigation strategies, and business opportunities, and examine firms' processes for identifying and managing climate-related risks.
ISSN:26667908
DOI:10.1016/j.clet.2025.101026