RT Journal Article
T1 Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
T2 Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks
A1 Giráldez, Pilar
A1 Samaniego-Medina, Reyes
A1 Karkowska, R.
A1 Korzeb, Z.
K1 Banking
K1 Board characteristics
K1 Climate vulnerability
K1 Corporate governance
K1 ESG score
AB 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.
PB Wiley
YR 2025
FD 2025
LK https://hdl.handle.net/10433/25281
UL https://hdl.handle.net/10433/25281
LA en
NO Karkowska, R., Samaniego‐Medina, R., Giráldez‐Puig, P., & Korzeb, Z. (2025). Boards and ESG Performance: The Contingent Influence of Climate Vulnerability on Global Banks. Business Strategy and the Environment.
NO Proyectos de investigaciónProyExcel_00934. Junta de AndalucíaPID 2021-128420OB-I00. Agencia Estatal de Investigación.
NO Universidad Pablo de Olavide
NO Universidad de Cádiz
DS RIO
RD May 1, 2026