Gender Diversity and Corporate Resilience to Climate Change: Evidence from Greenfield Investments

This paper examines the impact of board gender diversity on the performance of firms whose greenfield investments are struck by natural disasters. We find that corporations with more diverse boards are more likely to earn higher net income but less likely to have negative earnings in front of natural disasters. Further analyses indicate that those corporations with more diverse boards invest less in countries vulnerable to climate change but more in countries ready to adapt for climate change. They have lower exposure to environmental policy risks and are more likely to establish dedicated committees to oversee the risks.