Corporate Finance under Climate Crisis

“In a time of unprecedented environmental and financial challenges, this book offers a well-crafted synthesis of corporate finance principles and climate-related strategies. It provides invaluable insights into how businesses can manage risks, harness opportunities, and achieve sustainable value creation. An essential addition to the literature on corporate finance in a rapidly changing global economy.”

—William L. Megginson, Price Chair in Finance, University of Oklahoma

“This book bridges the gap between corporate finance and sustainability, offering a critical lens on how businesses can integrate financial strategies with climate action. Drawing on real-world examples and rigorous analysis, it is an essential guide for policymakers, corporate leaders, and academics seeking to understand and navigate the financial dimensions of climate solutions. A must-read for anyone aspiring to drive transformative change through finance.”

—Gireesh Shrimali, Head of Transition Finance Research, Oxford Sustainable Finance Group

“This book is for those refusing to let finance remain a bystander in sustainability. As CEO of Wovoka, leading nature-based solutions for resilience, I understand the link between finance and sustainability. The authors tackle valuation, returns, and scalable solutions with rigor and relevance. A blueprint for action, it’s essential for those committed to transforming finance for a sustainable future.”

—-Lee Pearson, CEO of Wovoka

This textbook addresses the complexities associated with the practice of corporate finance in the transition to a Net-Zero world. Understanding the impact of climate change on corporate finance requires synthesis of climate science, climate policy, and traditional finance tools. The book provides readers with the knowledge, skills, and innovative thinking required to navigate the complex landscape of climate change within the corporate setting.

Sandra Dow is Professor Emeritus at the Middlebury Institute of International Studies at Monterey, USA. She holds a PhD in International Finance from Concordia University in Montreal. Professor Dow began developing an advanced corporate finance class in ESG Risk Assessment in 2010 at the Middlebury Institute of International Studies. In the decade that followed the course evolved to its latest iteration as Corporate Finance in Climate Change.

Yuwei Shi is a Visiting Professor in the Coastal Science & Policy Program and the Academic Director of the Blue Pioneers Accelerator Program at the University of California, Santa Cruz, USA. He is also Professor Emeritus at the Middlebury Institute of International Studies, USA. He was the founding dean of Middlebury’s Graduate School of International Policy and Management, and led the integration of its two predecessor schools in policy and business. He was also the founding director of the Frontier Market Scouts Program, an award-winning education program in social entrepreneurship and impact investing.