What question did this study set out to answer?

To analyze how climate risk influences the costs of corporate debt financing and explore the different pathways of this influence.

July 5, 2026Emerging Markets Finance and Trade

The Impact of Climate Risk on Corporate Debt Financing Costs Under the Background of “Dual Carbon” Goals

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Authors

XJXinxin JingShandong University of Finance and Economics RJRuchuan JiangChina University of Political Science and Law YGYongbo GeShandong University of Finance and Economics

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Implication

Randomized trial examines how climate risk affects debt financing costs in Chinese firms, implying that digital transformation can mitigate these costs.

Key Points

To analyze how climate risk influences the costs of corporate debt financing and explore the different pathways of this influence.
Investigated Chinese A-share listed businesses from 2015 to 2024.
Examined the effects of climate risk on corporate debt financing costs.
Compared enterprises based on their levels of digital transformation and environmental transparency.
Increased climate risk significantly raises corporate debt financing costs, particularly through labor and operational risks.
Enterprises with limited digital transformation and poor environmental transparency face a greater rise in financing costs due to climate risk.
Findings suggest that improving digital practices can help mitigate the increased costs associated with climate risk.

Cite This Study

Jing et al. (2026) studied this question.

synapsesocial.com/papers/6a49f3b0f5d1d45b287ff9cd https://doi.org/10.1080/1540496x.2026.2695873

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Implication

Randomized trial examines how climate risk affects debt financing costs in Chinese firms, implying that digital transformation can mitigate these costs.

The Impact of Climate Risk on Corporate Debt Financing Costs Under the Background of “Dual Carbon” Goals

Discussion

Member takes

Implication

Key Points

Cite This Study

The Impact of Climate Risk on Corporate Debt Financing Costs Under the Background of “Dual Carbon” Goals

Discussion

Member takes

Implication

Key Points

Cite This Study

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