Journal of Climate Finance最新文献_第7页

Using machine learning to predict clean energy stock prices: How important are market volatility and economic policy uncertainty? 使用机器学习预测清洁能源股价：市场波动和经济政策的不确定性有多重要？

Journal of Climate Finance Pub Date : 2022-12-01 DOI: 10.1016/j.jclimf.2022.100002

Perry Sadorsky

{"title":"Using machine learning to predict clean energy stock prices: How important are market volatility and economic policy uncertainty?","authors":"Perry Sadorsky","doi":"10.1016/j.jclimf.2022.100002","DOIUrl":"https://doi.org/10.1016/j.jclimf.2022.100002","url":null,"abstract":"<div><p>The disruptive impacts of climate change have created an urgent need to transition to a low carbon economy and an important part of this transition is an increase in the usage of clean energy. The greater adoption of clean energy is creating new opportunities for clean energy equity investing. The existing literature mostly focuses on the dynamic relationship between clean energy equities, oil prices, technology stock prices, and other important macroeconomic variables like market volatility and economic policy uncertainty. However, there is a shortage of literature on forecasting clean energy stock prices. Forecasting clean energy equity prices is important for making investment decisions. This paper uses machine learning methods to predict the direction of clean energy stock prices. The analysis reveals that random forests, extremely randomized trees, stochastic gradient boosting, and support vector machine have higher prediction accuracy than Lasso or Naïve Bayes. For forecasts in the 10-day to 20-day range, random forests, extremely randomized trees, stochastic gradient boosting, and support vector machine achieve prediction accuracies greater than 85 %. In some cases, prediction accuracy reaches 90%. Lasso prediction accuracy is higher than Naïve Bayes but never greater than 65 %. The MA200, MA50, and WAD technical indicators are, on average, the features most important for predicting clean energy stock price direction. Of the non-technical indicators, VIX and OVX are consistently ranked high in importance. In most cases, EPU is not one of the most important features, Of the forecasting methods considered, extremely randomized trees are very impressive due to high accuracy and short computational time.</p></div>","PeriodicalId":100763,"journal":{"name":"Journal of Climate Finance","volume":"1 ","pages":"Article 100002"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2949728022000025/pdfft?md5=bb83df58044d9c134277a1b6a3775272&pid=1-s2.0-S2949728022000025-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72292216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 8

Climate finance: What we know and what we should know? 气候金融：我们知道什么，我们应该知道什么？

Journal of Climate Finance Pub Date : 2022-12-01 DOI: 10.1016/j.jclimf.2023.100005

Suwan Long Cheng , Brian Lucey , Satish Kumar , Dayong Zhang , Zhiwei Zhang

引用次数: 3

Where is the carbon premium? Global performance of green and brown stocks 碳溢价在哪里？绿色和棕色股票的全球表现

Journal of Climate Finance Pub Date : 2022-12-01 DOI: 10.1016/j.jclimf.2023.100006

Michael D. Bauer , Daniel Huber , Glenn D. Rudebusch , Ole Wilms

引用次数: 13

Using machine learning to predict clean energy stock prices: How important are market volatility and economic policy uncertainty? 使用机器学习预测清洁能源股票价格:市场波动和经济政策不确定性有多重要?

Journal of Climate Finance Pub Date : 2022-12-01 DOI: 10.1016/j.jclimf.2022.100002

Perry Sadorsky

引用次数: 8

Global Temperature Shocks and Real Exchange Rates 全球温度冲击和实际汇率

Journal of Climate Finance Pub Date : 2022-12-01 DOI: 10.1016/j.jclimf.2022.100004

Sinyoung O. Lee, Nelson C. Mark, Jonas Nauerz, Jonathan Rawls, Zhiyi Wei

引用次数: 9

Exploring the research situation of carbon finance: A scientometric analysis on Web of Science database 碳金融研究现状探索——基于Web of Science数据库的科学计量分析

Journal of Climate Finance Pub Date : 2022-12-01 DOI: 10.1016/j.jclimf.2022.100003

Zhengzhong Wang , Yunjie Wei , Shouyang Wang

{"title":"Exploring the research situation of carbon finance: A scientometric analysis on Web of Science database","authors":"Zhengzhong Wang , Yunjie Wei , Shouyang Wang","doi":"10.1016/j.jclimf.2022.100003","DOIUrl":"https://doi.org/10.1016/j.jclimf.2022.100003","url":null,"abstract":"<div><p>As the impact of climate change emerges gradually, an increasing number of countries realize the importance of administering and limiting the emissions of greenhouse gases, especially carbon dioxide. The notion of carbon finance is put forward in this context. This paper analyzes 1513 articles related to carbon finance from the Web of Science database. We first conduct statistical analysis where we ascertain the overall growth trend of research, publication sources, research regions, research institutions and core authors. Then, we carry out cluster analysis and construct the co-citation networks to determine the research hotspots, landmarks, turning points and the collaborative relationship among authors. We also build a time zone chart, showing the research focus at different historical stages. This research provides a systematic and comprehensive understanding of the research status of carbon finance and offers that future research opportunities lie in distributional effects and closed-loop supply chains.</p></div>","PeriodicalId":100763,"journal":{"name":"Journal of Climate Finance","volume":"1 ","pages":"Article 100003"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2949728022000037/pdfft?md5=61d5380d2063737da95587fa1e3bf62c&pid=1-s2.0-S2949728022000037-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72240752","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

China’s carbon market: Development, evaluation, coordination of local and national carbon markets, and common prosperity 中国碳市场：发展、评估、协调地方和国家碳市场，共同繁荣

Journal of Climate Finance Pub Date : 2022-12-01 DOI: 10.1016/j.jclimf.2022.100001

ZhongXiang Zhang

{"title":"China’s carbon market: Development, evaluation, coordination of local and national carbon markets, and common prosperity","authors":"ZhongXiang Zhang","doi":"10.1016/j.jclimf.2022.100001","DOIUrl":"https://doi.org/10.1016/j.jclimf.2022.100001","url":null,"abstract":"<div><p>Launching national carbon market with the power sector is a good start to achieve the commitments to both carbon peaking and carbon neutrality at the lowest cost. Since its operation, the carbon prices fall CNY40∼60 per ton. The block agreement transaction dominates trading, but with an average discount rate of 9.6% in block agreement, the aforementioned carbon prices overestimate the overall carbon prices. While the compliance rate measured against entities reached 94.4%, it differs significantly across provinces, ranging from 82.9% to 100%. Entities engaging in trading are mainly for compliance, and therefore transaction is driven by compliance. This article argues that the development of carbon market requires further reform of the electricity pricing mechanism and coordinated development of various related markets. The article argues that iron and steel, cement industry, and electrolytic aluminum should be given priority for inclusion of the national carbon market in the second batch, suggests necessity to establish a national carbon trading legislation and a scientific long-term mechanism for quota allocation, and emphasizes the importance of small entities in achieving the full compliance. Given the co-existence of national carbon market and regional carbon pilots, the article suggests the specific areas for the regional carbon markets to take the initiative to strengthen the synergistic effects of national carbon market. Furthermore, the article strongly recommends to continuously increase the proportion of carbon allowances auctions, and to set up a transformation fund from the proceeds of paid allocation of allowances to support regions at low levels of development and technology.</p></div>","PeriodicalId":100763,"journal":{"name":"Journal of Climate Finance","volume":"1 ","pages":"Article 100001"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2949728022000013/pdfft?md5=9e9c84d1532e8f01346a0813081603fc&pid=1-s2.0-S2949728022000013-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72240753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Exploring the research situation of carbon finance: A scientometric analysis on Web of Science database 碳金融研究现状探析——基于Web of Science数据库的科学计量分析

Journal of Climate Finance Pub Date : 2022-12-01 DOI: 10.1016/j.jclimf.2022.100003

Zhengzhong Wang, Yunjie Wei, Shou-wu Wang

引用次数: 2