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The aim of this article is to analyse the impact of climate change on bilateral trade flows. To this end, we estimate a theory‐grounded gravity model using bilateral trade flows on a sample of 67 countries over the period from 1986 to 2016. We use temperatures and extreme weather events (and their consequences) as indicators of climate change. In general, we find that international trade flows are less affected by the evolution of temperatures than domestic ones, while the opposite occurs with extreme weather events. However, there is a clear heterogeneity across countries and types of events. In particular, the results suggest that biological events, such as (epidemics and insect infestation), extreme temperatures, storms and landslides have a negative impact on international flows relative to internal ones. Interestingly, the influence of China and Japan on the global result is decisive, especially for storms in the first case and extreme temperatures in the second. Finally, our General Equilibrium estimations suggest a more detrimental impact of insect infestation and extreme temperatures on welfare than the rest of events. [ABSTRACT FROM AUTHOR]

This article seeks to answer two questions: (i) what factors drive firms to decide whether or not to disclose the information related to their greenhouse gas emissions (also called carbon information)? (ii) what forces lead firms to disclose more carbon information? Using data hand-collected from the annual Corporate Social Responsibility reports of China's listed companies from 2008 to 2012, we find the following: (i) firms that operate in sectors of high-emission industries are more likely to make carbon information disclosure ( CID hereafter); (ii) the more companies within one industry that make CID, the more likely it is that a company in that industry will make CID; (iii) companies having a higher sales rank within an industry are more likely to make CID. [ABSTRACT FROM AUTHOR]

To deal with the challenges brought about by climate changes, China decided to reduce the carbon dioxide (CO2) intensity by 40-45 per cent from 2005 to 2020. Using the decomposition technique, this study finds that energy intensity is the most important force to drive the decline of CO2 intensity between 1980 and 2008, followed by structural factors such as the adjustment of energy and industrial structure. Therefore, any environmental policy to promote energy efficiency will play the biggest role in achieving the target of abating CO2 intensity in 2020. [ABSTRACT FROM AUTHOR]