Climate-related financial risk assessment on energy infrastructure investments

In, Soh Young; Manav, Berk; Venereau, Clothilde M.A.; R., Luis Enrique Cruz; Weyant, John P.

doi:10.1016/j.rser.2022.112689

Cited by 20 publications

(3 citation statements)

References 41 publications

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“…This study integrates the exercises of several scholars to take the PGDP 56 , IS 12 , FDI 44 , ECStruc 52 , Urban 56 , RDI 57 , EI 58 , Fix 59 , RDP as control variable, the definition of each variables is shown in Table 10 .…”

Section: Methodsmentioning

confidence: 99%

Assessment of green technology innovation on energy-environmental efficiency in China under the influence of environmental regulation considering spatial effects

Li,

Xu,

Huang

et al. 2023

Sci Rep

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Enhancing energy-environmental efficiency (EEE) is crucial for achieving energy conservation and emission reduction goals. Investigating the mechanism through which green technology innovation (GTI) affects EEE and understanding the role of environmental regulation (ER) in this process provides a theoretical basis for efficient utilization of GTI and ER. This study employs a Dynamic Spatial Durbin Model and utilizes panel data from 2003 to 2017 for 30 Chinese provinces to examine the impact of GTI on EEE in the presence of ER. The empirical results reveal: (1) GTI has a U-shaped impact on EEE, primarily driven by SubGI. (2) GTI’s influence on EEE is predominantly reflected in PTE, also stemming from SubGI. (3) The interaction term between ER and GTI is 0.0022, while the GTI coefficient is − 0.0741, and the GTI quadratic term coefficient is 0.0007, all statistically significant. This implies that ER mitigates the negative impact of GTI on EEE while strengthening its positive effect. These findings provide empirical evidence and policy insights for more effectively utilizing GTI and ER to enhance EEE and achieve energy conservation and emissions reduction goals.

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Section: Methodsmentioning

confidence: 99%

Assessment of green technology innovation on energy-environmental efficiency in China under the influence of environmental regulation considering spatial effects

Li,

Xu,

Huang

et al. 2023

Sci Rep

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show abstract

“…However, the above studies have not involved the infrastructure construction costs and revenues of the dedicated pipelines at P2G stations and gas storage facilities. The construction of gas storage facilities cost a lot, but there is a lack of corresponding price guidance [8][9] and investment recovery mechanism [10][11], which leads to low motivation of natural gas company in investment construction. Hence, how to transport the natural gas generated by P2G to the natural gas pipeline network economically and rationally, and how to plan and construct this part of infrastructure reasonably are the key points of this paper.…”

Section: Related Workmentioning

confidence: 99%

Energy saving and environmental protection in coupled development of integrated gas-electric system: from the perspective of gas pipe network planning

Lu,

Gao,

et al. 2024

Preprint

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With the development and popularization of gasfired power generation and P2G technology, the electrical system is becoming more and more closely connected. Gas energy is a good form of energy storage or transition in integrated energy system. However, few theoretical studies conduct on the coupling development of gas network and integrated energy network from the perspective of natural gas network planning. Improper natural gas system infrastructure planning will lead to waste of resources and environmental impact. Therefore, this paper aims to improve the efficiency of gas transport from the perspective of gas pipeline network planning and promote the development of low carbon economic coupling of gas integrated system (IGES). We propose a multi-dimensional natural gas network system planning strategy that enhances the link between it and electrical system to solve how to convey natural gas from P2G station into pipelines. The strategy simulates the planning behavior of natural gas pipeline network company under the background of integrated electricity and gas system and analyzes the economic and environmental benefits of the new strategy. The results show that a feasible planning scheme can improve the economic benefits of gas network operators and reduce the carbon emissions. Based on these analyses and conclusions, recommendations are made for policy formulation and planning directions at different levels. In summary, the new gas pipe network planning strategy will help to enhance the importance of gas pipe network in the IGES and promote energy conservation and environmental protection in the energy industry.

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“…As one of the main sources of carbon emissions, fossil fuels will be restricted from mining and trading (Apergis & Payne, 2017; Healy & Barry, 2017; Huang et al, 2022; Silva Herran et al, 2019). Hence, climate change will also amplify risks for energy commodities, such as coal and crude oil (In et al, 2022). Two questions naturally arise.…”

Section: Introductionmentioning

confidence: 99%

Global climate change and commodity markets: A hedging perspective

Jia

Chen

Han

et al. 2023

Journal of Futures Markets

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This paper aims to measure the tail‐risk dependence between climate change and commodity futures markets. We utilize Morgan Stanley Capital International Climate Change Index (CCI) to serve as a proxy indicator of the stock market climate change for examining the tail‐risk spillover effect among 16 major commodity futures. Using GARCH–Copula–CoVaR framework, we show that extreme climate change has a significant tail‐risk spillover effect on commodity futures markets, in which agricultural and energy futures are affected by climate change most. We then adopt the copula‐based generalized autoregressive conditional heteroskedasticity (GARCH) model to compute the optimal hedge ratio among each pair of CCI with commodity futures, which performs well economic advantages for all 16 commodities. Compared with hedging against commodity index, CCI has a more significant hedging effect on metal and energy subindex futures. Therefore, we finally suggest an effective hedging portfolio composed of CCI and subindex futures in a significant economic sense.

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Climate-related financial risk assessment on energy infrastructure investments

Cited by 20 publications

References 41 publications

Assessment of green technology innovation on energy-environmental efficiency in China under the influence of environmental regulation considering spatial effects

Assessment of green technology innovation on energy-environmental efficiency in China under the influence of environmental regulation considering spatial effects

Energy saving and environmental protection in coupled development of integrated gas-electric system: from the perspective of gas pipe network planning

Global climate change and commodity markets: A hedging perspective

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