Market perspective on climate actions and clean energy transition

IF 9.3 2区经济学 Q1 ECONOMICS

Energy Policy Pub Date : 2024-12-18 DOI:10.1016/j.enpol.2024.114470

Qinqin Xia

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引用次数: 0

Abstract

This paper investigates the impact of climate actions on the clean energy transition by studying information linkages between clean energy and fossil fuels from the broad market’s perspective. Utilizing a rational expectations framework, the study examines ex-ante volatility correlations between clean energy, fossil fuels and the broad market as indicators of market linkages. The findings reveal robust information linkages between these markets, highlighting significant shifts in response to global climate policies. Notably, the linkage between clean energy and the broader market decreased by 27% following the Copenhagen Summit in 2009 and increased by 20% after the Paris Agreement’s ratification in 2016. These dynamics underscore the influence of global climate actions on energy market behaviors. The study provides valuable insights into the interconnected nature of energy sectors, emphasizing the role of policy in shaping market responses and the broader energy transition. These findings offer critical implications for investors, policymakers, and stakeholders engaged in navigating the complexities of sustainable energy investments and policymaking.

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来源期刊

Energy Policy 管理科学-环境科学

CiteScore

17.30

自引率

5.60%

发文量

540

审稿时长

7.9 months

期刊介绍： Energy policy is the manner in which a given entity (often governmental) has decided to address issues of energy development including energy conversion, distribution and use as well as reduction of greenhouse gas emissions in order to contribute to climate change mitigation. The attributes of energy policy may include legislation, international treaties, incentives to investment, guidelines for energy conservation, taxation and other public policy techniques. Energy policy is closely related to climate change policy because totalled worldwide the energy sector emits more greenhouse gas than other sectors.