Questrom School of Business, Global Development Policy Center, Boston University, Boston, MA, 02215, USA.
Pardee School of Global Studies, Global Development Policy Center, Boston University, Boston, MA, 02215, USA.
Nat Commun. 2022 Mar 18;13(1):1451. doi: 10.1038/s41467-022-28975-5.
This study deploys newly available data to examine the exposure of multinational companies' overseas investments to physical climate risks. Globally, foreign investments are significantly exposed to lower physical climate risks, compared with local firms across countries. Within countries however, the differences of physical climate risks between foreign and local facilities are small. We also examine China, as it is fast becoming one of the largest sources of outward foreign investment across the globe. We find that foreign direct investment from China is significantly more exposed to water stress, floods, hurricanes and typhoon risks across countries, compared with other foreign facilities. Within host countries however, once again the physical climate risks of Chinese overseas facilities are comparable to those of non-Chinese foreign investments.
本研究利用新获得的数据,考察了跨国公司海外投资面临的实物气候风险。总体而言,与各国的本土企业相比,跨国公司的海外投资面临的实物气候风险明显较低。然而,在一国之内,外资企业与本土企业的实物气候风险差异较小。我们还考察了中国,因为中国正迅速成为全球对外投资的最大来源国之一。我们发现,与其他外资企业相比,中国的对外直接投资在各国面临的水资源短缺、洪水、飓风和台风风险显著更高。然而,在东道国国内,中国海外企业的实物气候风险与非中资外资企业相当。