Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 10th Sept 2026, 07:05:39pm CEST (Norway)
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Daily Overview |
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Climate damage and impacts Location: Auditorium F Session Chair: Berk Oktem, University of Paris-Saclay, INRAE, AgroParisTech, Paris Saclay Applied Economics, Palaiseau | |
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Firm-Level Climate Change Adaptation: Micro Evidence from 134 Nations 1: World Bank, United States of America; 2: University of Palermo; 3: International Monetary Fund; 4: University of Exeter; 5: International Finance Corporation; 6: University of Southern California Are firms adapting to climate change? Rational, forward-looking firms should make self-protective investments, but market imperfections in low- and middle-income countries may constrain firms' ability to adapt. We study this question by combining the World Bank Enterprise Survey with spatially granular weather data to estimate temperature response functions for nearly 160,000 firms in 134 nations over a 15-year period. Small and medium-size firms in low- and low-middle income countries are most vulnerable, with revenues declining by 12% in years with temperatures 0.5C above historical averages. The impact is equally strong for manufacturing and services firms. We test different impact channels and find that the effect is channeled through lower labor productivity and wages. Heat-sensitive sectors and less resilient firms are hit harder, corroborating causal interpretation. Unique firm-level information on policy constraints including limited financing, burdensome regulations, and unsafe conditions suggest that such factors raise adaptation costs, undermining economic resilience to climate change. | |