全球变化知识资源中心

In this study, we investigate whether firms recognised as superior sustainability performers respond differently to climate change regulatory, physical and other risks/opportunities and examine whether such differences predict sustainability performance in subsequent years. Further, we seek to gain insights from climate change programs and strategies of both superior and inferior sustainability performers. Adopting mixed methods, we use a merged sample from the Top500 world's largest firms and the Global 100 Most Sustainable Corporations. Our quantitative analyses show that greater awareness of physical and other climate change opportunities is what sets superior performers apart, and that superior future sustainability performance is related to a firm's stated awareness of these two types of opportunities. Qualitative content analysis of narrative disclosures confirm that superior performers provide more detailed description of climate change strategies that go beyond managing climate change risks. Our study contributes to the limited amount of research highlighting the value of proactively seeking opportunities rather than merely focussing on risk management.