Data on Firm-level Climate Change Exposure

This dataset contains firm-level measures of climate change exposure. The data are constructed in Sautner et al. (2023). The data are based on a method that identifies from earnings conference calls the attention paid by financial analysts to firms' climate change exposures. The method adapts a machine learning keyword discovery algorithm and captures exposures related to opportunity, physical, and regulatory shocks associated with climate change. The measures are available for more than 10,000 firms from 34 countries between 2002 and 2021.