Climate governance, growth opportunities, and innovation in addressing climate change: Empirical evidence from emerging countries

Abstract

Emerging economies are often more vulnerable to the impacts of global warming, experiencing devastating floods and a collapse in agricultural production. This study, under the lens of resource dependence theory, aims to determine the role of climate governance and growth opportunities in driving the adoption of climate change mitigation initiatives by the leading listed companies in the 28 most important emerging economies from 2013 to 2022. The results indicate that climate governance mechanisms facilitate the development of innovative solutions to fight climate change. However, further efforts are required to mitigate the negative effects of growth opportunities and disruptive events.