Reduction of Climate Risk as a Key to Business Performance – Framework for Sustainable Corporate Treasury Management (CTM)

• Authors: Grzegorz Michalski

Title variants

PL

Ograniczenie ryzyka pogodowego kluczem do wyników biznesowych – ramy zrównoważonego zarządzania finansami przedsiębiorstw (CTM)

Abstracts

PL

Cel: Celem niniejszego artykułu jest analiza wpływu ryzyka pogodowego na korporacyjne zarządzanie finansami (CTM) i pokazanie, w jaki sposób zrównoważone strategie zarządzania mogą zmniejszyć to ryzyko, jednocześnie poprawiając wyniki finansowe przedsiębiorstw. Metodyka: W artykule zastosowano podejście ekonometryczne i analizę teoretyczną․ Wykorzystano przegląd literatury na temat ryzyka pogodowego i jego wpływu na działalność przedsiębiorstw, analizę instrumentów finansowych wykorzystywanych do zarządzania tym ryzykiem (np․ pogodowych instrumentów pochodnych) oraz modele ekonometryczne w celu zbadania związku między zmiennością pogody a kluczowymi wskaźnikami finansowymi przedsiębiorstw. Wyniki: Przeprowadzone badania wskazują, że wdrożenie strategii uwzględniających ryzyko pogodowe przyczynia się do poprawy płynności finansowej przedsiębiorstw i zmniejszenia niepewności przepływów pieniężnych․ Brak strategii zarządzania tym ryzykiem prowadzi do wzrostu kosztów zabezpieczeń gotówkowych i większej zmienności kapitału obrotowego netto․ Firmy posiadające odpowiednie strategie hedgingowe są bardziej skuteczne w minimalizowaniu negatywnego wpływu zmiennej pogody na ich działalność. Implikacje i rekomendacje: Artykuł sugeruje potrzebę włączenia zarządzania ryzykiem pogodowym do strategii skarbowych firm, a także wprowadzenia regulacji makroekonomicznych i zachęt podatkowych dla firm wdrażających takie strategie․ Wskazuje również na potrzebę dalszych badań nad optymalizacją zarządzania ryzykiem pogodowym i zastosowania modeli uczenia maszynowego do przewidywania jego wpływu na finanse przedsiębiorstw. Oryginalność/wartość: Artykuł wnosi wkład do literatury na temat zarządzania finansami przedsiębiorstw poprzez zastosowanie podejścia ekonometrycznego do analizy wpływu ryzyka pogodowego․ Zawiera praktyczne zalecenia dla menedżerów skarbu i decydentów politycznych dotyczące włączenia zarządzania ryzykiem pogodowym do długoterminowej strategii finansowej przedsiębiorstw.

EN

Aim: The article aims to examine the impact of climate instability risk on Corporate Treasury Manage-ment (CTM) and demonstrate that sustainable strategies can effectively mitigate this risk while enhancing corporate financial performance. Methodology: A theoretical and empirical approach is employed, including econometric modelling, case study analysis, and literature review, with a focus on the use of financial instruments – particularly climate derivatives – within CTM. Results: Effective management of climate risk through sustainable policies and financial instruments raises treasury levels and strengthens corporate competitiveness by reducing unexpected losses and the costs of maintaining high liquidity reserves. Implications and recommendations: The study recommends incorporating environmentally conscious strategies into CTM and implementing fiscal incentives and regulatory frameworks to support climate risk hedging tools. Further research should explore sector-specific applications of sustainable CTM, especially in climate-sensitive industries. Originality/value: The article offers a novel integration of sustainability and treasury optimisation, showing that environmental responsibility can directly support and enhance core financial goals within CTM frameworks.

Keywords

EN

climate risk; sustainable treasury management; effectiveness of the entity; Corporate Treasury Management (CTM)

PL

ryzyko pogodowe; zrównoważone zarządzanie finansami; wyniki finansowe przedsiębiorstw

• Publisher: Uniwersytet Ekonomiczny we Wrocławiu. Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
• Journal: Econometrics. Ekonometria. Advances in Applied Data Analytics
• Year: 2025
• Volume: 29
• Issue: 1
• Pages: 15-39

Dates

published

2025

Contributors

author

Grzegorz Michalski

• Wroclaw University of Economics and Business

• https://orcid.org/0000000282114057

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Identifiers

DOI

10.15611/eada.2025.1.02

Biblioteka Nauki

60025139