关键词: 气候风险, 气候行动, 绿色技术创新, 逻辑关联, 经验证据

Abstract:    Green technology innovation is an important driving force to achieve China′s path to modernization, and it is the only way for enterprises to respond to climate change risks with active climate actions for green sustainable development. To explore the correlation and response effects between climate risk, climate action, and corporate green technology innovation, a theoretical analysis framework and a two-way fixed effects panel model were constructed among variables. China′s A-share listed companies were selected as the research objects, and empirical analysis was conducted using the panel data from 2008 to 2022. The research results showed that: (1) "Climate risk climate action green technology innovation" forms a sequential response correlation, and the transmission of driving forces forms a "funnel-shaped" screening and filtering. There is no statistically significant correlation between overall climate risk and corporate green technology innovation, and there is great uncertainty about whether climate change can stimulate corporate green technology innovation; (2) Climate risks will encourage businesses to take climate action, but there is a time lag and strategic passivity. Only transition risk significantly affects corporate climate action among climate risks. The speed at which climate action evolves from low-level reactive and defensive to high-level adaptive and proactive depends on the accumulation of internal resources and capabilities, as well as the magnitude of external pressures; (3) There is a significant inverted U-shaped relationship between climate action and corporate green technology innovation, with excessive climate action leading to a crowding out effect on green technology innovation. Only adaptive and proactive climate actions have a significant impact on green technology innovation in climate action. This paper established a systematic analysis framework to avoid the overall fragmentation of a single identification logic. The research conclusion will provide empirical evidence for quickly focusing on the most critical influencing factors of green technology innovation, accurately positioning the development stage, laying theoretical support for correcting climate behavior alienation, scientifically formulating climate action plans, and rationally allocating research and development resources.

Key words: climate risk, climate action, green technology innovation, logical correlation, empirical evidence