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Climate policy uncertainty and comparative reactions across sustainable sectors: Resilience or vulnerability?

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  • Naifar, Nader

Abstract

This paper investigates the impact of climate policy uncertainty (CPU) on clean energy, green, and environmentally and socially responsible (ESG) investment markets utilizing a novel quantile-on-quantile connectedness approach developed by Gabauer and Stenfors (2024). Empirical findings indicate (i) the resilience of green bonds to CPU, (ii) the high sensitivity of the clean energy sector to CPU dynamics, and (iii) the vulnerability of ESG investment to high CPU. The findings have several important implications for investors, financial analysts, and policymakers.

Suggested Citation

  • Naifar, Nader, 2024. "Climate policy uncertainty and comparative reactions across sustainable sectors: Resilience or vulnerability?," Finance Research Letters, Elsevier, vol. 65(C).
    • Handle: RePEc:eee:finlet:v:65:y:2024:i:c:s1544612324005737
    DOI: 10.1016/j.frl.2024.105543
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    Keywords

    Green bonds; Clean energy; ESG investments; Quantile-on-quantile connectedness;
    All these keywords.

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G1 - Financial Economics - - General Financial Markets

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