We conducted a systematic literature review of 98 peer-reviewed journal articles on climate financial risks published between 2001 and 2023 from Scopus and Google Scholar databases. Our analysis revealed a notable increase in climate financial risks literature in the last eight years, with most studies focusing on climate financial risk assessments, indicating the growing interest and urgency of the topic. The literature also addressed three other key issues: corporate management of climate financial risks, climate financial risk policies, and design and review of climate adaptation instruments. We identified several opportunities for future research, including developing risk measures and assessment methodologies, understanding the factors that can support climate financial risk management, evaluating the effectiveness and financial impact of climate financial risk policies, and supporting the development of financial innovations to manage climate risks. Our study provides a valuable overview of the current state of climate financial risk literature and potential future research directions, which can help inform decision-making processes and contribute to developing more effective strategies for managing climate financial risks.

This study explores the implications of transitioning to renewable energy sources for PT Adaro Energy Tbk, an Indonesian energy company. The research's objectives were to assess the non-financial benefits of adopting green energy, evaluate the company's financial performance, and derive its intrinsic value using Free Cash Flow to Firm (FCFF), Price to Earnings Ratio, and EV/EBITDA. The findings suggest that renewable energy incorporation could significantly enhance PT Adaro's non-financial value, promoting corporate responsibility and fostering improved stakeholder relationships. Despite the shift towards green energy, PT Adaro demonstrated strong financial performance and appeared undervalued based on its intrinsic value calculations. The study concluded with recommendations for PT Adaro to leverage its green initiatives for corporate image enhancement, engage stakeholders, provide sustainability reporting, and form green partnerships. The research, while providing useful insights for similar corporations, recognized its limitations, such as dependency on publicly available data and the complexities of the renewable energy sector. Suggestions for future research included exploration of technological advancements, global trends impacting the sector, and alternative valuation methods.

This study aims to identify the research status quo and development trends of research in the impact of government affiliation on firms' environmental, social, and corporate governance (ESG) performance using visualization analysis with Cite Space and VOS Viewer. We retrieved published papers (2002–2024) from the Web of Science Core Collection database with a topic search related to government influence and firms’ ESG Performance. We then generated author, institution, and country co-authorship networks to identify the top productive authors, institutions, and countries, respectively, to reveal the main research themes and explore the knowledge structure, the author co-citation network to identify the influential authors, and the keywords co-occurrence network to detect research hotspots and research frontiers. These analyses give information on the main contributing force of research in government affiliation and firms’ ESG performance at three levels of authors, institutions, and countries.