Research on the Norilsk Nickel under climate change-based onthe Fama-French model

School of Finance, Tianjin University of Finance and Economics, Tianjin, China

^* Corresponding author: hengyi0220@stu.tjufe.edu.cn

Abstract

Global warming is becoming more serious, and climate change around the world poses enormous challenges and opportunities for economic activity in all fields. The risk of climate change has become a common risk faced by many companies around the world. Then this paper selected three different companies in the mining industry. They are Anglo American plc, BHP Group Limited and Norilsk Nickel gave a basic introduction to the company and counted their financial situation. Then this article collects the five-year monthly maximum temperature, minimum temperature and average tem-perature in the Arctic to directly show the direct and significant impact of global warming on the earth. Among them, a company in Russia was selected for Fama-French model analysis, and the linear regression results were ob-tained. It can be seen that climate change has different degrees of impact on MKT, SMB and HML. Among them, MKT (market risk premium) has the greatest impact on it, indicating that the company's own business is relatively stable, and the price is not significantly affected by its own fluctuations, but is greatly affected by the market and industry.