气候变化领域集成服务门户(CCPortal): The spillover effects among fossil fuel, renewables and carbon markets: Evidence under the dual dilemma of climate change and energy crises

CCPortal

DOI	10.1016/j.energy.2023.127304
	The spillover effects among fossil fuel, renewables and carbon markets: Evidence under the dual dilemma of climate change and energy crises
	Su, Chi-Wei; Pang, Li-Dong; Qin, Meng; Lobont, Oana-Ramona; Umar, Muhammad
发表日期	2023
ISSN	0360-5442
EISSN	1873-6785
卷号	274
英文摘要	The environmental emergency and energy crisis are serious challenges exposed to Europe, which results in a fundamental shift in the linkages regarding fossil fuel, renewable energy and carbon trade markets. This study investigates the spillover effects based on the quantile VAR network. We find that the impact of the extreme market on the connectedness network of underlying assets proves to be more pronounced compared to the standard conditions. The risk spillovers in extreme cases originate primarily from the renewable energy and carbon markets, while fossil fuels account for the most significant contributor under normal circumstances. Hence, investors are supposed to develop dynamic and flexible portfolios to hedge potential risks. Concerning the governments, corresponding initiatives should be implemented to facilitate the continuous evolution of the European Union carbon trading system and the energy transition. These provide a feasible solution to Europe's dual dilemma regarding energy security and the climate emergency.
英文关键词	EU ETS; Connectedness; Spillover effects; Quantile VAR
语种	英语
WOS研究方向	Thermodynamics ; Energy & Fuels
WOS类目	Science Citation Index Expanded (SCI-EXPANDED)
WOS记录号	WOS:000968750400001
来源期刊	ENERGY
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/281282
作者单位	Qingdao University; Qingdao University; West University of Timisoara; Lebanese American University
推荐引用方式 GB/T 7714	Su, Chi-Wei,Pang, Li-Dong,Qin, Meng,et al. The spillover effects among fossil fuel, renewables and carbon markets: Evidence under the dual dilemma of climate change and energy crises[J],2023,274.
APA	Su, Chi-Wei,Pang, Li-Dong,Qin, Meng,Lobont, Oana-Ramona,&Umar, Muhammad.(2023).The spillover effects among fossil fuel, renewables and carbon markets: Evidence under the dual dilemma of climate change and energy crises.ENERGY,274.
MLA	Su, Chi-Wei,et al."The spillover effects among fossil fuel, renewables and carbon markets: Evidence under the dual dilemma of climate change and energy crises".ENERGY 274(2023).