Climate change hits indebted businesses hardest, new research suggests

By Huan Kuang, Assistant Professor of Finance, Bryant University
Ying (Cathy) Zheng, Associate Professor of Finance, Bryant University

Climate change poses the biggest risks to the most vulnerable people, and the same is true for businesses: Highly leveraged companies – those that have accumulated too much debt – are uniquely susceptible to climate shocks. That’s what we found in a forthcoming study in The Review of Corporate Finance that analyzed data from more than 2,500 U.S. publicly listed companies over 16 years.

As professors who study climate…

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