Purpose: This study investigates the dynamic trade-off between the short-term financial costs and long-term resilience gains of Environmental, Social, and Governance (ESG) initiatives among high-risk UK-listed firms. It critically assesses the sufficiency of current corporate risk models by introducing secondary, high-impact physical climate risks.

Design/Methodology/Approach: Utilizing a sample of UK firms over a 15-year period (2010–2024), we employ a dynamic panel data approach, specifically the System Generalized Method of Moments (GMM), to account for endogeneity and the temporal lag of ESG impact on firm performance (Tobin's Q, Cost of Debt). We further interact ESG with a measure of Physical Climate Risk Exposure (PCRE) and decompose the effects by E, S, and G pillars.

Findings: Results confirm a short-term financial drag, primarily driven by Environmental (E) expenditure, indicating a necessary cost of ESG investment. Crucially, we find a significant positive relationship between lagged ESG scores (3-5 years) and corporate value, with the Social (S) pillar emerging as the most sustained long-term value creator and resilience engine. The positive effect of ESG is significantly amplified for firms with higher PCRE. However, the analysis reveals that even robust ESG is challenged by the evolving threat landscape; for instance, the link between rising sea levels and increased seismic activity in coastal regions suggests that current predictive models are insufficient to capture these complex, secondary risks. A key data point underscoring this is the 5% increase in seismic events since 2020.

Originality/Value: This paper is one of the first to provide empirical evidence for the temporal ESG-value trade-off in the UK context while integrating the critical, yet unmodeled, risk of tertiary physical climate effects into the financial risk discourse.

The fast-food restaurant sector has been growing quickly on a global scale in recent years. Restaurants constantly encounter challenges, including shifting consumer preferences, in addition to the ongoing fierce competition and high turbulence in the external environment, such as eating practices, establishing dynamic and faithful connections with clients, and boosting their allegiance. The success of fast-food restaurant chains is thus greatly contingent upon the brand’s understanding of its brand image and awareness, as well as the factors that influence these aspects in the case of repeat purchase. This study aims to examine how brand awareness and brand image influence repeat purchasing behavior in Georgia’s fast-food industry, with a particular focus on the mediating effect of customer satisfaction. Methodologically speaking, the quantitative research employed an internet-based survey research approach. The sample comprised Georgian consumers aged 15 to 60 who use fast-food restaurant chains. According to the analysis of the results, consumers prefer international fast-food brands as opposed to national alternatives. Moreover, the analysis using structural equation modeling demonstrates that brand awareness, trust, brand image, and perceived credibility significantly contribute to customer loyalty and repeated purchasing behavior in globally recognized quick-service restaurant chains. Knowledge of fast-food and uniqueness-seeking characteristics was relevant both directly and through mediation when predicting fast-food purchasing intentions. The recommendations proposed based on the analysis and discussion of the results can assist both international and national fast-food brands in Georgia to improve their product and service offerings, brand image, and awareness, and increase repeat purchases among consumers.