Mapping global financial risks under climate change
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This study elaborates on the risk effects of corporate digital transformation (CDT). Using the ratio of added value of digital assets to total intangible assets as a measure of CDT, this study overall reveals an inverse relationship between CDT and revenue volatility, even after employing a range of technical techniques to address potential endogeneity. Heterogeneity analysis highlights that the firms with small size, high capital intensity, and high agency costs benefit more from CDT. It also reveals that advancing information infrastructure, intellectual property protection, and digital taxation enhances the effectiveness of CDT. Mechanism analysis uncovers that CDT not only enhances financial advantages such as bolstering core business and mitigating non-business risks but also fosters non-financial advantages like improving corporate governance and ESG performance. Further inquiries into the side effects of CDT and the dynamics of revenue volatility indicate that CDT might compromise cash flow availability. Excessive digital investments exacerbate operating risks. Importantly, the reduction in operating risk associated with CDT does not sacrifice the potential for enhanced company performance; rather, it appears to augment the value of real options.
Relationships between financial transparency, trust, and performance: an examination of donors’ perceptions
To better understand donors’ decisions within the nonprofit context, it is important to empirically attend to their perceptions of nonprofits. Drawing upon extant literature, a parsimonious conceptual model of donor perceptions is developed. Hypotheses derived from the model are empirically tested by means of structural equation modelling using 2017 survey data from 400 usable responses. The study finds positive associations between (1) perceptions of financial transparency and perceived performance, (2) perceived financial transparency and donor trust, and (3) donor trust and perceived performance. Different explanatory mechanisms are suggested to account for these findings. (1) could be explained by an ‘informational’ mechanism, whereas (2) and (3) could be explained by a ‘performative’ mechanism. The focus on donor perceptions has important implications for regulators when considering the assessment of nonprofit disclosure practices. The findings would also be valuable to nonprofits in developing strategies aimed at legitimising their operations by improving perceptions of their performance and trust in their ‘organisational brand’. By examining subjective perceptions of transparency and performance, this paper extends the nonprofit literature on donors’ perceptions, and adds a fresh perspective to the growing body of work on nonprofit transparency.
Climate change threatens crop diversity at low latitudes
Climate change alters the climatic suitability of croplands, likely shifting the spatial distribution and diversity of global food crop production. Analyses of future potential food crop diversity have been limited to a small number of crops. Here we project geographical shifts in the climatic niches of 30 major food crops under 1.5–4 °C global warming and assess their impact on current crop production and potential food crop diversity across global croplands. We found that in low-latitude regions, 10–31% of current production would shift outside the climatic niche even under 2 °C global warming, increasing to 20–48% under 3 °C warming. Concurrently, potential food crop diversity would decline on 52% (+2 °C) and 56% (+3 °C) of global cropland. However, potential diversity would increase in mid to high latitudes, offering opportunities for climate change adaptation. These results highlight substantial latitudinal differences in the adaptation potential and vulnerability of the global food system under global warming.
Event triggers and opinion leaders shape climate change discourse on Weibo
Understanding how real-world events and opinion leaders shape climate change discussions is vital for improving communication and policy formulation to meet global carbon mitigation goals. This study analyzed 5.3 million original posts from Weibo (2012–2022), China’s largest social media platform, to examine climate change discourse. We found five event types triggering 48 discussion peaks, including online activities, international conferences, extreme weather, domestic policies, and international news. Posts generally conveyed positive attitudes, though sentiment decreased during haze pollution and the COVID-19 pandemic. Network analysis revealed seven opinion leader groups with distinct strategies: official media and institutions emphasized political will, global initiatives, and socio-economic implications, while universities and grassroots individuals focused on scientific reality and personal actions. Celebrities and unofficial accounts often highlighted geopolitical topics, especially China-US relations. We suggest reducing fragmented echo chambers and fostering personal connections through digital media platforms to enhance public awareness.
Decarbonizing urban residential communities with green hydrogen systems
Community green hydrogen systems, typically consisting of rooftop photovoltaic panels paired with hybrid hydrogen-battery storage, offer urban environments with improved access to clean, on-site energy. However, economically viable pathways for deploying hydrogen storage within urban communities remain unclear. Here we develop a bottom-up energy model linking climate, human behavior and community characteristics to assess the impacts of pathways for deploying community green hydrogen systems in North America from 2030 to 2050. We show that for the same community conditions, the cost difference between the best and worst pathways can be as high as 60%. In particular, the household centralized option emerges as the preferred pathway for most communities. Furthermore, enhancing energy storage demands within these deployment pathways can reduce system design costs up to fourfold. To achieve cost-effective urban decarbonization, the study underscores the critical role of selecting the right deployment pathway and prioritizing the integration of increased energy storage in pathway designs.
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