The intensification of climate risk caused by global climate change presents significant challenges to corporate sustainability, necessitating urgent attention to climate resilience as a critical strategic priority. Based on resource dependence theory and dynamic capability theory, this study examines the impact of climate risk on corporate carbon performance. The panel data from Chinese A-share listed companies from 2011 to 2023 are used for empirical analysis. The findings reveal that: (1) Climate risk exerts a significant negative impact on corporate carbon performance, which remains robust after a battery of robustness tests; (2) Green innovation and corporate reputation play potential mediating roles in the relationship between climate risk and carbon performance; (3) Digital transformation has a significant negative moderating effect on the relationship between climate risk and carbon performance; (4) The effect is more pronounced in enterprises located in China’s western regions, heavily polluting industries and those with weaker cost and risk transfer capabilities. This study contributes to the existing literature on climate risk and its economic consequences, providing theoretical support and practical guidance for corporate risk management and environmental policy formulation.
