Environmental information disclosure (EID) serves as a key indicator for assessing corporate green progress and is a central pathway for advancing the synergy between economic and environmental systems. Clarifying the mechanism through which climate risk perception (CRP) influences corporate EID holds significant practical relevance for supporting firms in responding to climate change. Using a sample of China’s A-share listed companies from 2011 to 2023, this study employs a two-way fixed effects model to examine the impact of climate risk perception on corporate environmental information disclosure. Research findings suggest that climate risk perception is positively correlated with environmental information disclosure, a relationship linked through two key channels: the exertion of disclosure pressure on firms and the incentivization of green innovation. Further analysis reveals a positive moderating role of institutional ownership. Heterogeneity analysis shows that the effect of CRP varies considerably across firm characteristics: its promoting effect is weaker in foreign-invested and traditional firms but markedly in digital ones. The measurement and variable construction of CRP in this study can serve as a reference for variable development in related fields. Moreover, the main findings can assist enterprises in making better decisions when facing climate risks and provide a new perspective for deepening research on corporate green performance.
Ding et al. (Wed,) studied this question.