This paper examines how physical climate risks affect firms' financial performance and operational risk management in global supply-chains. We document that weather shocks at supplier locations reduce the operating performance of suppliers and their customers. Further, customers respond to...

This paper examines how firms adapt to climate-change risks resulting from their supply-chain networks. Combining a large sample of global supplier-customer relationships with granular data on local temperatures and flooding incidents, we first document that the occurrence of climate shocks at...

The new EU sustainable finance agenda:a. Is a political choice to subsidize private finance rather than curb environmentally harmful activities via binding environmental regulation, which would automatically make all finance green.b. Can be understood as the 4th piece of a jigsaw fostering an...