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This research aims to investigate how extreme climate risk affects urban financial resilience in Chinese cities.

May 10, 2026SustainabilityOpen Access

Does Extreme Climate Risk Damage Urban Financial Resilience? Evidence from China

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Empirical findings demonstrate extreme climate risk undermines financial resilience in urban areas, highlighting significant implications for policy.

This research aims to investigate how extreme climate risk affects urban financial resilience in Chinese cities.
Analyzed data from Chinese prefecture-level cities.
Conducted heterogeneous analyses based on city characteristics.
Performed mechanism tests to explore impact pathways.
Extreme climate risk significantly weakens urban financial resilience.
Northern, small-population, and low-marketization cities are more adversely affected.
Negative impacts stem from reduced asset liquidity, increased energy consumption, and heightened climate policy uncertainty.

Yang et al. (2026) studied this question.

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Empirical findings demonstrate extreme climate risk undermines financial resilience in urban areas, highlighting significant implications for policy.