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Climate risks and the connectedness between clean and dirty energy markets

Author

Listed:
  • Huang, Jingyan
  • Liu, Zhenhua
  • Guo, Kun

Abstract

Climate risks pose significant challenges and threats to complex energy market system. This paper illuminates the interactions between clean and dirty energy markets and further investigates their asymmetric responses to climate risks. The influence of climate risks extends beyond extreme values and has a substantial impact on the overall distribution of the connectedness between clean and dirty energy markets. As the physical risk intensifies, the connectedness within both clean and dirty energy markets increases. The abnormal transition risk will render energy market fluctuations more uncertain and accentuate the distinction between clean and dirty energy markets.

Suggested Citation

  • Huang, Jingyan & Liu, Zhenhua & Guo, Kun, 2025. "Climate risks and the connectedness between clean and dirty energy markets," Finance Research Letters, Elsevier, vol. 74(C).
    • Handle: RePEc:eee:finlet:v:74:y:2025:i:c:s1544612325000649
    DOI: 10.1016/j.frl.2025.106799
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    More about this item

    Keywords

    Clean energy; Dirty energy; Connectedness; Climate risks;
    All these keywords.

    JEL classification:

    • P45 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - International Linkages
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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