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<p>As global climate change intensifies, the impact of climate risks on the energy transition is becoming increasingly prominent. We examine the impact of climate risk on energy transition using panel data from 61 countries worldwide between 2006 and 2022. Our results indicate that climate risk exerts a significant adverse effect on energy transition. An increase in climate risk inhibits the optimization of renewable energy consumption structure and renewable energy generation structure. Climate risk hinders the energy transition by suppressing technological progress and lowering energy efficiency level. The accumulation of human capital and advancement in financial development mitigate climate risk’s constraining effect on energy transition within the renewable energy production sector. Concurrently, higher energy dependence weakens this adverse impact across both consumption and production sides. Quantile regression analysis reveals that the inhibitory effect of climate risk on energy transition becomes more pronounced at medium and high quantiles. Furthermore, heterogeneity analysis indicates substantial regional disparities in climate risk’s impact. While climate risk actively promotes energy transition in high-income countries, it suppresses the transition in lower-middle-income nations. Long-term effect analysis confirms the persistent influence of climate risk on energy transition. These findings provide valuable empirical evidence and policy insights for both academic research and policy-making communities.</p>

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How does climate risk impact energy transition? Evidence from 61 countries worldwide

  • 期刊论文

  • 发表日期：

    2026年5月2日

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  • Siqi Yang,
  • Jiayi Yang,
  • Hao Li

摘要

As global climate change intensifies, the impact of climate risks on the energy transition is becoming increasingly prominent. We examine the impact of climate risk on energy transition using panel data from 61 countries worldwide between 2006 and 2022. Our results indicate that climate risk exerts a significant adverse effect on energy transition. An increase in climate risk inhibits the optimization of renewable energy consumption structure and renewable energy generation structure. Climate risk hinders the energy transition by suppressing technological progress and lowering energy efficiency level. The accumulation of human capital and advancement in financial development mitigate climate risk’s constraining effect on energy transition within the renewable energy production sector. Concurrently, higher energy dependence weakens this adverse impact across both consumption and production sides. Quantile regression analysis reveals that the inhibitory effect of climate risk on energy transition becomes more pronounced at medium and high quantiles. Furthermore, heterogeneity analysis indicates substantial regional disparities in climate risk’s impact. While climate risk actively promotes energy transition in high-income countries, it suppresses the transition in lower-middle-income nations. Long-term effect analysis confirms the persistent influence of climate risk on energy transition. These findings provide valuable empirical evidence and policy insights for both academic research and policy-making communities.