- Data, Statistics and AI for Well-Being of People and Organisations
- A cura di Luigi Fabbris, Alberto Franci, Pietro Renzi
Behind the paradox “climate risk boosts economic performance”: Uncovering green business transformation. A mediation analysis on Italian firms
- Lucrezia Macigno
- Marco Pini
- © 2026 Author(s) |
- CC BY 4.0
- DOI: 10.36253/979-12-215-1062-1.48
The aim of this paper is to analyze the impact of green investments on firms’ economic performance, by distinguishing between different types of green investments according to degree of business transformation: i) deep green investments aimed at improving the green business model, on the one hand; ii) simple green investments, that are not related to the business transformation. The results of the study show how deep green investments alone don’t have a direct positive influence on economic performance, however, since they impact the business model, they can have an indirect positive effect on performances. Indeed, firms undertaking deep green investments are more likely to put in place a series of initiatives targeted at green business transformation, such as appointing an environmental strategy manager or access to sustainable finance, that change the business model towards greater environmental sustainability. Moreover, the study investigates which risk factors influence the most firms’ decision to invest in greens, within the category of risks associated with climate change, showing how transition risk is the key driver of deep-green investments in contrast to the climate and physical risks.
- Keywords:
- green investments,
- climate risks,
- green business model,
- mediation analysis,
- Italian SMEs,
Centro Studi Guglielmo Tagliacarne, Italy
Centro Studi Guglielmo Tagliacarne, Italy - ORCID: 0000-0003-4249-6932
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Informazioni sul capitolo
Titolo del capitolo
Behind the paradox “climate risk boosts economic performance”: Uncovering green business transformation. A mediation analysis on Italian firms
Autori
Lucrezia Macigno, Marco Pini
Lingua
Inglese
DOI
10.36253/979-12-215-1062-1.48
Opera sottoposta a peer review
Anno di pubblicazione
2026
Copyright
© 2026 Author(s)
Licenza d'uso
Licenza dei metadati
Informazioni bibliografiche
Titolo del libro
Data, Statistics and AI for Well-Being of People and Organisations
Curatori
Luigi Fabbris, Alberto Franci, Pietro Renzi
Opera sottoposta a peer review
Numero di pagine
420
Anno di pubblicazione
2026
Copyright
© 2026 Author(s)
Licenza d'uso
Licenza dei metadati
Editore
Firenze University Press
DOI
10.36253/979-12-215-1062-1
ISBN Print
979-12-215-1061-4
eISBN (pdf)
979-12-215-1062-1
eISBN (xml)
979-12-215-1063-8
Collana
Applied Statistics Series