Abstract
ABSTRACT Extreme weather events pose a significant threat to the sustainability of Chinese enterprises. This study investigates their impact on corporate sustainability and the moderating effect of local fiscal decentralization. Using a fixed-effects model with A-share listed companies from 2007–2021, it finds that extreme weather negatively impacts corporate sustainability, but fiscal decentralization mitigates this effect, notably in central-eastern regions and non-state enterprises. Recommendations include increasing local fiscal autonomy, accelerating SOE reforms, and enhancing environmental governance to bolster local governments’ climate resilience and foster overall economic and corporate sustainability.
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