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Global Climate Change and Sustainable Economy

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (28 February 2025) | Viewed by 7168

Special Issue Editors


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Guest Editor
Sustainable and Green Finance Institute (SGFIN), National University of Singapore, Innovation 4.0, 3 Research Link #02-02, Singapore 117602, Singapore
Interests: sustainable finance and economy; environmental impact and pricing; corporate environmental and social issues; political economy of sustainability

E-Mail Website
Guest Editor
Sustainable and Green Finance Institute (SGFIN), National University of Singapore, Innovation 4.0, 3 Research Link #02-02, Singapore 117602, Singapore
Interests: sustainable, green, and climate finance; net-zero (and beyond) transition; energy economics; energy transition

Special Issue Information

Dear Colleagues,

It is with great pleasure that we launch this call for contributions to a Special Issue of Sustainability that will focus on the topic of “Global Climate Change and Sustainable Economy”.

Climate change is ubiquitously recognized as a ‘wicked problem’, with only a residual share of society holding on to the view that human activity is causing irreversible climate damage.

The breadth and depth of the challenges that require a confrontation to adapt to our economic systems are daunting, but so are the potential opportunities. There are no forms of economic activity that are unaffected by climate change. For this reason, many economies have initiated and promoted efforts to confront climate change head-on. The efforts are too numerous and diverse to discuss here in any depth, but essentially, a push for a re-calibration of economic activity to adapt to already-realized climatic change and mitigate further change, a re-consideration of physical assets and infrastructure with the aim to balance them increasingly in favor of preserving finite natural assets, a and re-evaluation of the value systems used in guiding resource allocation decisions to be increasingly cognizant of life-cycle and full supply chain considerations instead of mere private gains.

This Special Issue will collate a selection of high-quality and novel research contributions assessing the impacts of climate change and the effectiveness of measures put in place to adapt to them, shield against further impacts, and potentially reverse the existing impacts.

Suggested themes for the Special Issue may include, but are not limited to, the following:

  • The impact(s) of climate change on economies;
  • The impact(s) of climate change on industries and economic sectors;
  • The impact(s) of climate change on individual firms and supply chains;
  • The impact(s) of economic activity and resource allocations on climate change;
  • The design of policies and mechanisms to address the economic and human impacts of climate change;
  • The role of financial and legal institutions in responding to, preparing for, and/or mitigating climate change;
  • The role of global agreements and institutions to coordinate climate-related initiatives;
  • The effectiveness of carbon markets and related mechanisms to “make polluters pay”, i.e., internalize their externalities;
  • Circular economy;
  • SME’s and climate change;
  • Transition towards more efficient and renewable energy sources to facilitate more sustainable economic activity;
  • Green economy agreements, carbon border adjustment mechanisms, and the role of international trade in future sustainable economies.

We welcome contributions of all types, including empirical or theoretical studies or relevant review articles. Submissions are welcome from any disciplinary perspective, and multi- or cross-disciplinary research is encouraged given the nature of the subject matter.

We look forward to receiving your contributions.

Dr. Johan Sulaeman
Dr. David C. Broadstock
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • climate change
  • sustainable economy
  • environmental impact
  • carbon markets
  • circular economy

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Published Papers (4 papers)

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Research

19 pages, 1750 KiB  
Article
Rethinking the Climate Change–Inequality Nexus: The Role of Wealth Inequality, Economic Growth, and Renewable Energy in CO2 Emissions
by Tunahan Haciimamoglu, Oguzhan Sungur, Korkmaz Yildirim and Mustafa Yapar
Sustainability 2025, 17(8), 3335; https://doi.org/10.3390/su17083335 - 9 Apr 2025
Viewed by 591
Abstract
Reducing global greenhouse gas emissions and implementing sustainable environmental policies require the identification of the economic, political, ecological, and social factors that affect emission levels. To this end, this study examines, for the first time, the impact of wealth inequality, economic growth, and [...] Read more.
Reducing global greenhouse gas emissions and implementing sustainable environmental policies require the identification of the economic, political, ecological, and social factors that affect emission levels. To this end, this study examines, for the first time, the impact of wealth inequality, economic growth, and renewable energy consumption on CO2 emissions in 17 countries with the highest wealth inequality over the 1995–2021 period. This study employs a novel and robust approach, the method of moments quantile regression, to analyze the relationships among these variables. Findings support the environmental Kuznets curve hypothesis by displaying that economic growth initially increases CO2 emissions but has a dampening effect after a turning point. Moreover, renewable energy consumption reduces CO2 emissions, where certain as increasing wealth inequality contributes to higher CO2 emissions. These results underscore the need for policymakers to adopt more egalitarian socioeconomic models, accelerate the transition to clean energy, and maintain robust environmental policies to achieve sustainable development goals. Full article
(This article belongs to the Special Issue Global Climate Change and Sustainable Economy)
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24 pages, 460 KiB  
Article
The Impact of Climate Risk Disclosure on Corporate Green Technology Innovation
by Wei Zhong and Ling Jin
Sustainability 2025, 17(6), 2699; https://doi.org/10.3390/su17062699 - 18 Mar 2025
Cited by 1 | Viewed by 911
Abstract
Amid escalating global climate challenges, the interplay between corporate climate risk disclosure and green technological innovation has become a pivotal scholarly focus in sustainability research. This study empirically examines the impact of climate risk disclosure on corporate green technology innovation and its underlying [...] Read more.
Amid escalating global climate challenges, the interplay between corporate climate risk disclosure and green technological innovation has become a pivotal scholarly focus in sustainability research. This study empirically examines the impact of climate risk disclosure on corporate green technology innovation and its underlying mechanisms using data from China’s A-share listed companies spanning 2004 to 2022. Key findings reveal that climate risk information disclosure significantly enhances green innovation capabilities through dual pathways: elevating media attention and reducing agency costs. Specifically, media scrutiny exerts external pressure via reputational incentives and public oversight, driving firms to accelerate green technology deployment. Concurrently, reduced agency costs mitigate information asymmetry between shareholders and management, enabling optimized resource allocation for long-term innovation investments. Heterogeneity analysis indicates that this catalytic effect is more pronounced in larger firms and those facing lower financing constraints. The research theoretically and practically elucidates the dual mechanisms through which climate disclosure propels green innovation, providing empirical support for refining corporate sustainability reporting systems and recalibrating regulatory frameworks. Policy recommendations include adopting differentiated climate disclosure standards, strengthening media and investor oversight, and incentivizing green innovation through executive performance metrics to facilitate low-carbon economic transition. Full article
(This article belongs to the Special Issue Global Climate Change and Sustainable Economy)
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21 pages, 6875 KiB  
Article
Climate Risk Assessment Framework in Real Estate: A Focus on Flooding
by Shu-Han Wu, Chun-Lien Chiang, Yu-Hung Huang, Jung Huang, Jung-Hsuan Tsao and Ching-Pin Tung
Sustainability 2024, 16(21), 9577; https://doi.org/10.3390/su16219577 - 3 Nov 2024
Viewed by 2530
Abstract
Climate change exacerbates flood hazards, resulting in risks to real estate values that should be considered by long-term investors. Flood risk presents two major financial risks: market risk and credit risk. Market risk refers to potential property value loss, and credit risk increases [...] Read more.
Climate change exacerbates flood hazards, resulting in risks to real estate values that should be considered by long-term investors. Flood risk presents two major financial risks: market risk and credit risk. Market risk refers to potential property value loss, and credit risk increases the likelihood of mortgage defaults. However, methods and comprehensive data for quantifying global real estate flood risks are lacking. To address this problem, this paper proposes two flood risk assessment frameworks: the local-oriented approach (LOA) and global-oriented approach (GOA). Two hazard and three vulnerability assessment methods are also introduced to support these frameworks. The LOA vulnerability estimates of regions with complete records are required to support the GOA. Taiwan was selected as an example for the LOA assessment, and the results were used to estimate vulnerability overseas in GOA assessments. The results of case studies for buildings located in four cities in different countries were compared. The proposed framework enables investors and asset owners to globally quantify climate risks in real estate, even when the available data are incomplete. Users can choose the most appropriate approach on the basis of the available data and their tolerance for uncertainty. Full article
(This article belongs to the Special Issue Global Climate Change and Sustainable Economy)
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22 pages, 325 KiB  
Article
Does Extreme Weather Impact Performance in Capital Markets? Evidence from China
by Xinqi Chen, Yilei Luo and Qing Yan
Sustainability 2024, 16(16), 6802; https://doi.org/10.3390/su16166802 - 8 Aug 2024
Cited by 1 | Viewed by 2134
Abstract
No form of economic activity is unaffected by climate change, which has emerged as a new risk factor impacting financial market stability and sustainable development. This study examines the impact of extreme weather on the stock returns of A-share listed companies in China. [...] Read more.
No form of economic activity is unaffected by climate change, which has emerged as a new risk factor impacting financial market stability and sustainable development. This study examines the impact of extreme weather on the stock returns of A-share listed companies in China. Utilizing a decade-long dataset, we construct monthly proportions of extreme high-temperature days and extreme humid days using a percentile comparison approach. The findings reveal a significant negative impact of extreme weather on stock returns. Specifically, each standard deviation increase in the monthly proportion of extreme high-temperature days and extreme humid days corresponds to a decrease in annualized returns by 0.09% and 0.15%, respectively. The mediation analysis suggests that extreme weather primarily affects stock returns through its influence on investor sentiment, impacting economic decision making, with minimal direct effects on corporate performance. Additionally, the sensitivity of stock returns to extreme weather varies notably among different types of companies. Larger, more profitable, and less risky firms show lower sensitivity to extreme weather. The impact is observed not only in heat-sensitive industries but also in non-heat-sensitive industries and remains significant even after excluding company announcement days. This study offers new insights and relevant recommendations for businesses and policymakers on sustainable development and financial stability. Full article
(This article belongs to the Special Issue Global Climate Change and Sustainable Economy)
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