Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks

This study examines the contingent effect of climate vulnerability on the relationship between board characteristics and environmental, social, and governance (ESG) performance of global banks. We use a dataset of 438 banks across 54 countries (2010–2022) and fixed effects estimation, two-stage leas...

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Detalhes bibliográficos
Autores: Giráldez, Pilar, Samaniego-Medina, Reyes, Karkowska, R., Korzeb, Z.
Formato: artículo
Fecha de publicación:2025
País:España
Recursos:Universidad Pablo de Olavide (UPO)
Repositorio:RIO. Repositorio Institucional Olavide
Idioma:inglés
OAI Identifier:oai:rio.upo.es:10433/25281
Acesso em linha:https://hdl.handle.net/10433/25281
Access Level:acceso abierto
Palavra-chave:Banking
Board characteristics
Climate vulnerability
Corporate governance
ESG score
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spelling Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global BanksBoards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global BanksGiráldez, PilarSamaniego-Medina, ReyesKarkowska, R.Korzeb, Z.BankingBoard characteristicsClimate vulnerabilityCorporate governanceESG scoreThis study examines the contingent effect of climate vulnerability on the relationship between board characteristics and environmental, social, and governance (ESG) performance of global banks. We use a dataset of 438 banks across 54 countries (2010–2022) and fixed effects estimation, two-stage least squares, and generalized method of moments to address potential endogeneity. Our findings show that the effectiveness of board governance mechanisms on ESG performance depends on the levels of climate vulnerability. Although most mechanisms perform well in low-risk contexts, only CSR committees and gender diversity on the board improve ESG performance in stable and highly vulnerable environments. These results highlight the importance of integrating climate vulnerability into corporate governance frameworks, suggesting that a one-size-fits-all approach to board composition is insufficient. This study underscores the need for adaptive governance strategies that align with regional climate risks and offers practical insights for regulators, investors, and executives to enhance ESG performance.Wiley20252025-12-1920252025-01-0120252025-01-01journal articlehttp://purl.org/coar/resource_type/c_6501AMhttp://purl.org/coar/version/c_ab4af688f83e57aainfo:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/10433/25281reponame:RIO. Repositorio Institucional Olavideinstname:Universidad Pablo de Olavide (UPO)InglésengAgencia Estatal de Investigación http://dx.doi.org/10.13039/501100011033 Plan Estatal de Investigación Científica y Técnica y de Innovación 2021-2023 PID2021-128420OB-I00 GOBIERNO CORPORATIVO SOSTENIBLE: LA RIQUEZA SOCIOEMOCIONAL Y PRODUCTIVIDAD DE LA EMPRESA FAMILIARopen accesshttp://purl.org/coar/access_right/c_abf2Attribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:rio.upo.es:10433/252812026-06-13T12:46:27Z
dc.title.none.fl_str_mv Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
title Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
spellingShingle Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
Giráldez, Pilar
Banking
Board characteristics
Climate vulnerability
Corporate governance
ESG score
title_short Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
title_full Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
title_fullStr Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
title_full_unstemmed Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
title_sort Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
dc.creator.none.fl_str_mv Giráldez, Pilar
Samaniego-Medina, Reyes
Karkowska, R.
Korzeb, Z.
author Giráldez, Pilar
author_facet Giráldez, Pilar
Samaniego-Medina, Reyes
Karkowska, R.
Korzeb, Z.
author_role author
author2 Samaniego-Medina, Reyes
Karkowska, R.
Korzeb, Z.
author2_role author
author
author
dc.contributor.none.fl_str_mv
dc.subject.none.fl_str_mv Banking
Board characteristics
Climate vulnerability
Corporate governance
ESG score
topic Banking
Board characteristics
Climate vulnerability
Corporate governance
ESG score
description This study examines the contingent effect of climate vulnerability on the relationship between board characteristics and environmental, social, and governance (ESG) performance of global banks. We use a dataset of 438 banks across 54 countries (2010–2022) and fixed effects estimation, two-stage least squares, and generalized method of moments to address potential endogeneity. Our findings show that the effectiveness of board governance mechanisms on ESG performance depends on the levels of climate vulnerability. Although most mechanisms perform well in low-risk contexts, only CSR committees and gender diversity on the board improve ESG performance in stable and highly vulnerable environments. These results highlight the importance of integrating climate vulnerability into corporate governance frameworks, suggesting that a one-size-fits-all approach to board composition is insufficient. This study underscores the need for adaptive governance strategies that align with regional climate risks and offers practical insights for regulators, investors, and executives to enhance ESG performance.
publishDate 2025
dc.date.none.fl_str_mv 2025
2025-12-19
2025
2025-01-01
2025
2025-01-01
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
AM
http://purl.org/coar/version/c_ab4af688f83e57aa
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://hdl.handle.net/10433/25281
url https://hdl.handle.net/10433/25281
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.relation.none.fl_str_mv Agencia Estatal de Investigación http://dx.doi.org/10.13039/501100011033 Plan Estatal de Investigación Científica y Técnica y de Innovación 2021-2023 PID2021-128420OB-I00 GOBIERNO CORPORATIVO SOSTENIBLE: LA RIQUEZA SOCIOEMOCIONAL Y PRODUCTIVIDAD DE LA EMPRESA FAMILIAR
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Wiley
publisher.none.fl_str_mv Wiley
dc.source.none.fl_str_mv reponame:RIO. Repositorio Institucional Olavide
instname:Universidad Pablo de Olavide (UPO)
instname_str Universidad Pablo de Olavide (UPO)
reponame_str RIO. Repositorio Institucional Olavide
collection RIO. Repositorio Institucional Olavide
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.812429

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