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Measuring climate-credit risk relationship using world input-output tables
Russian Journal of Economics. 2023. Vol. 9. No. 1. P. 93–108.
Penikas H. I., Васильева Е.
The Basel Committee recommended the use of input-output tables to properly measure climate risks. However, the majority of previous studies only limits the use of input-output tables to carbon emissions and this is not applied in climate risk ratings. The existing climate (E) risk ratings (scores) was modified or transformed from Sustainalytics to the full climate risk scores using input-output tables. Positive relationship between credit risks and the full climate risk estimates at the industry level was identified, and this justifies the interest rate discount granted to firms in the green industries. Thus, for the purpose of lending the full degree of greenness derived from input-output tables should be considered, not substituting this by the easily observable and publicly available marginal climate risk ratings like those provided by Sustainalytics.
Nazarova V., Churakova I., Journal of Corporate Finance Research 2026 Vol. 20 No. 1 P. 86–99
This paper presents an empirical analysis based on the correlation between ESG performance and cost of equity capital of listed companies in mainland China and Hong Kong, China from 2018 to 2022. The final empirical results of the study show that there is a negative correlation between ESG performance and cost of equity capital in ...
Added: May 3, 2026
Ismailova E., Финансы и бизнес 2026 Т. 22 № 1 С. 37–61
In recent years, there has been a growing body of research examining how environmental, social, and governance (ESG) indicators affect the terms of mergers and acquisitions (M&A). A particularly relevant issue is the relationship between a company’s ESG profile and the acquisition premium — a markup over the target firm's market value. This review summarizes ...
Added: April 24, 2026
Senin V., Швырков Е. А., Бизнес. Общество. Власть 2025 № 3 (57) С. 156–173
The article provides a comparative analysis of the ESG practices of Russia's largest banks, focusing on their sustainable development strategies, corporate governance, and social and environmental initiatives. The authors examine the regulatory framework and taxonomy of ESG banking in Russia, analyze the reporting and projects of leading financial institutions (Sber, Sovcombank, Bank DOM.RF, Moscow Credit ...
Added: February 12, 2026
Maria E. Karacheva, Anna S. Veselova, Journal of Siberian Federal University. Series: Humanities & Social Sciences 2025 Vol. 18 No. 12 P. 2386–2396
This study examines the motives and incentives driving Russian manufacturing companies to implement social investment programs aimed at supporting the socio-economic development of monocities, which face critical labor shortages due to outmigration. Focusing on the interplay between businesses and key regional stakeholders, including local communities, government agencies, non-profit organizations, and the media, the research highlights ...
Added: December 15, 2025
Haniev A., Suhih V., Journal of Applied Economic Research 2025 Т. 24 № 1 С. 319–343
This study examines the impact of ESG indicators on the financial well-being of shareholders in Russian companies. Using data from publicly traded non-financial companies in Russia for the period 2018–2023, the analysis focuses on the overall ESG rating and its components – environmental (E), social (S), and governance (G) – in the context of their ...
Added: December 11, 2025
Malofeeva T., Tronov A., Герасименко Е. А., Вестник Академии знаний 2025 № 2(67) С. 411–420
. In this article, we analyzed how a company's level of transparency and overall sustainability can improve the financial results of firms in the fashion industry. It is important to explore the contribution of corporate sustainability for a set of companies that vary in location, production niche, market capitalization, brand policy, etc. A total of ...
Added: November 27, 2025
Tiwari S., Tzeremes P., Kazemzadeh E. et al., Sustainable Development 2026 Vol. 34 No. S2 P. 403–421
This study examines the impact of global supply chain pressures (GSCP), artificial intelligence (AI), economic complexity (EC), and sustainability uncertainty (SUI) on the productive capacities index (PCI) in the United States from 2018 to 2024. Employing advanced econometric techniques—including quantile-on-quantile regression (QQR), cross-quantilogram (CQ), and wavelet-quantile correlation (WQC)—the analysis assesses variable effects, directional predictability, causal ...
Added: November 11, 2025
Nazarova V., Kozlova S., Pustynnikova A. et al., Journal of Applied Economic Research 2025 Vol. 24 No. 4 P. 1249–1279
The Russian green bond market is still in its early stage of development but has been expanding in response to global demand for sustainable finance and domestic economic challenges. This context makes the analysis of factors shaping its performance particularly relevant. The aim of this study is to quantify the influence of macroeconomic variables, such ...
Added: November 11, 2025
Teplova T., Sokolova T., Kissa D. et al., Журнал Новой экономической ассоциации 2026 Т. 70 № 1 С. 157–190
This study is the first attempt to apply Explainable Artifi cial Intelligence (ХAI) to reveal the relationship of different Environmental, Social and Governance (ESG) metrics of stock issuers on downside risk in the Russian market. The methodology is based on the two-stage approach, i. e., neural networks with dense layers and the Shapley values from ...
Added: October 17, 2025
Karminsky A. M., Egorova A., Samusev V., Procedia Computer Science 2025 No. 266 P. 739–744
This article explores the relationship between ESG and its pillars with the investment attractiveness of companies in Europe and Russia. The study aims to verify the results obtained in previous works regarding companies operating in various sectors of the European economy, such as materials, healthcare, energy, utilities, and communication services. Additionally, the research examines whether ...
Added: September 27, 2025
Storchevoy M., Mylnikov L., Чернышев В. В. et al., / SSRN. Серия "Working Papers". 2025.
Внимание к охране природы принимает все большую значимость для бизнеса с одной стороны в связи с ужесточением в природоохранном законодательстве, а с другой в связи с использованием ESG рейтингов при принятии решений о коммерческой деятельности компаний. Составление рейтинга LLM систем, способных оказывать консультационные услуги в области природоохраны и ESG, позволяет осуществить выбор такой системы для ...
Added: September 18, 2025
Egorova A., Karminsky A. M., Lobov G., Procedia Computer Science 2025 Vol. 266 P. 745–752
This paper investigates the investment attractiveness of green bonds by examining the influence of issuer-specific regional and sectoral characteristics on bond yields. Using a cross-sectional dataset of 1,502 green bond issues from 44 countries, sourced from the Cbonds database as of March 2025, the study applies a multivariate OLS regression framework. The analysis incorporates macroeconomic ...
Added: August 18, 2025
Soldatova A., Финансы, деньги, инвестиции (Россия) 2025 № 2 С. 27–36
The article is devoted to the study of the features and advantages of investing in an Islamic index. The principles of Islamic finance, the distinctive features of Islamic indices and the methods of their calculation are considered. An analysis of the industry structure of the global Islamic index was conducted. The stages of forming an ...
Added: July 8, 2025
Klaro Ramires P. M., Вестник Московского университета. Серия 6: Экономика 2025 Т. 60 № 2 С. 178–201
Growing importance of social and environmental issues encourage business, society, and state to combine their efforts in implementing the sustainable development agenda. The purpose of this study is to identify institutional determinants that influence Russian companies’ corporate sustainability. The object of the empirical study is big Russian companies that implement sustainable practices of various scales ...
Added: May 6, 2025
Graduate School of Management, St. Petersburg State University, 2024.
Editors: Yury E. Blagov, Andrei Yu. Panibratov, Vadim V. Klimachev, Elena V. Orlova, Tatyana A. Martynova, Dmitry G. Kucherov, Olga A. Nikiforova, Maria M. Smirnova, Evgenii V. Gilenko, Tatiana A. Gavrilova, Nikolay A. Zenkevich, Karina A. Bogatyreva, Anastasia A. Golubeva, Elena M. Rogova, Daria V. Kochetkova. International Conference “GSOM Economy&Management Conference 2024” St. Petersburg State ...
Added: April 16, 2025
Zhang W., Biryukova O. V., Sustainability 2025 Vol. 17 No. 6 Article 2776
The Chinese government encourages enterprises participating in the Belt and Road Initiative (BRI) to improve their ESG performance to better align the BRI with sus tainable development. This paper reveals the heterogeneous treatment effect of the BRI on the ESG performance of enterprises using time-varying DID and DDD models, pow erfully validating that the BRI ...
Added: March 20, 2025
Makarov I. A., Chernokulsky A. V., Izvestiya. Atmospheric and Oceanic Physics 2024 Vol. 60 No. 3 P. 362–371
The consequences of climate change are associated with significant potential damage to the population and the economy. To minimize this damage, a system of adaptation measures is needed, and the measures must be ranked depending on the level of climate risks. In this study, climate risks for the regions of the Russian Federation given the ...
Added: March 17, 2025
Holodkova V., Markovskaya E., Kuzmina E. et al., , in: IX International Scientific Conference on Agricultural Science 2024 “Current State, Problems and Prospects for the Development of Agricultural Science” (AGRICULTURAL SCIENCE 2024) Simferopol, Crimea, September 23-27, 2024Vol. 141.: EDP Sciences, 2024. Ch. 04011.
Today, the sector of so-called “green projects” is expanding. To implement these projects, numerous financial instruments have been developed, including what is often referred to as “green financing”. Green financing generally means funding projects in the fields of renewable sources and green energy, aimed at reducing carbon emissions and their adverse effects on health, developing ...
Added: March 10, 2025
EDP Sciences, 2024.
Today, the sector of so-called "green projects" is expanding. To implement these projects, numerous financial instruments have been developed, including what is often referred to as "green financing". Green financing generally means funding projects in the fields of renewable sources and green energy, aimed at reducing carbon emissions and their adverse effects on health, developing ...
Added: March 10, 2025