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The spillover effect of the energy markets and the CET plays an important role in guiding the realization of two-carbon target; using the network spillover methodology of Diebold, Yilmaz, Jozef Barunı´k, and Toma´sKrehlı´k, we examine both the static and dynamic connectedness of CO2 emissions trading (CET) market, steam coal market, new energy, and traditional energy market in China from early Dec 2013 to the end of July 2021. At last, we verified the stability of the model and obtained the following findings: (1) the total spillover effect index is 13.91% between those markets, and it is mainly focused on short term. Moreover, the dynamic spillover effect is time-varying, and it is greatly influenced by the domestic and international environment; (2) the connectedness of the CET market with other energy markets is neutral, the development of new energy market is strong, it is the main transmitter to other markets, especially to the traditional energy market except for the steam coal market, and the coal market is an effect transmitter. These results provide a theoretical reference for investors and policy makers who are concerned with the return connectedness among the CET market, new energy market, and steam coal market in China.

In this study, we developed a data-driven approach for the evaluation and optimisation of livelihood improvement efficiency (LIE) to address slowing global economic growth and the decline in well-being in the broader population, enhance the quality of people’s livelihoods, and promote sustainable social development. We designed a questionnaire survey and constructed an evaluation index system based on a comprehensive consideration of economic resources, social security and employment, education, and health. Using principal component analysis, entropy weighting, and data envelopment analysis, we optimised the evaluation indicators and quantitatively assessed LIE. We used a Tobit regression model to analyse the factors influencing LIE and provide decision-making support for proposing countermeasures to optimise LIE. Based on the research data, we administered the questionnaire survey to 3125 residents in 16 cities in China’s Anhui Province and demonstrated the applicability of the aforementioned method. The results indicate that there is room for optimising LIE in cities in Anhui Province, which needs to be achieved through the following steps: controlling costs and avoiding waste, encouraging entrepreneurship, increasing income, guiding the direction of industrial growth, optimising regional population structure, and promoting public participation to enhance people’s livelihoods.