Effects of green bonds on Taiwan's bioenergy development

Kung, Chih-Chun; Lan, Xiaolong; Yang, Yunxia; Kung, Shan-Shan; Chang, Meng-Shiuh

doi:10.1016/j.energy.2021.121567

Cited by 24 publications

(9 citation statements)

References 51 publications

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“…These results are in line with the economic law of supply and demand. In this way, our results support previous studies (Kung et al, 2022; Tolliver et al, 2020) regarding emission reduction due to the implementation of GB 1 and GB 2 .…”

Section: Resultssupporting

confidence: 92%

A green path towards sustainable development: Optimal behavior of the duopoly game model with carbon neutrality instruments

Hussain

Lee

2022

Sustainable Development

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Carbon emission is a global issue, and China is facing many problems to resolve it, especially in emission‐generating companies (EGCs). To maintain sustainable development, it is necessary to reduce carbon emissions for the well‐being of society, and carbon neutrality can play an important role. With China targeting the goal of carbon neutrality to reduce carbon emissions, this research aims to bridge the gap in the literature by considering carbon neutrality instruments in a duopoly market. The study sets up a mathematical model of the duopoly game to achieve desired objectives and then applies a simulation‐based optimization technique to examine the mathematical model under different experiments. After manipulating various scenarios to find the optimal values of carbon neutrality instruments, the results indicate that green bond provision, emission tax, and emission quota play a vital role in carbon neutrality. Different combinations of carbon neutrality instruments reduce various levels of carbon emissions. We further show that a combination of emission tax upon EGCs plays a key role in reducing carbon emissions during the fifth scenario. In the second scenario, a combination of green bond provision and emission tax reduces carbon emissions, but is lower than the fifth scenario. This research offers a reference for policymakers to move towards carbon neutrality, and it is beneficial for the government to decide the optimal values of carbon neutrality instruments.

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Section: Resultssupporting

confidence: 92%

A green path towards sustainable development: Optimal behavior of the duopoly game model with carbon neutrality instruments

Hussain

Lee

2022

Sustainable Development

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“…Furthermore, recent studies have underlined the connectedness between green bonds, clean energy and stock price. Kung et al ( 2022 ) in their study established a positive impact of green bonds on the bio-energy. While existing research has evidenced impact of unidirectional stock market spill over on green bond market (Gao et al 2021 ), the need for further research to confirm COVID-19 impact on green bond markets is absolutely essential.…”

Section: Literature Reviewmentioning

confidence: 99%

Dynamic connectedness of green bond with financial markets of European countries under OECD economies

Yadav

Mishra

Ashok

2022

Econ Change Restruct

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This paper examines the dynamic connectedness between green bonds and OECD financial markets of European countries. The study is conducted on daily price of green bonds and selected European stock markets from January 27, 2015, to August 4, 2021. Top ten European countries namely Luxembourg, Switzerland, Norway, Denmark, Germany, Netherlands, Iceland, Austria, Sweden, and Belgium are included within the OECD economies. The study uses Diebold and Yilmaz and Barunik & Krehlic tests to examine the connectedness between the economies and green bonds in short, medium, and long term. Result exhibits volatility across all frequency cycles. Brussel Stock Exchange and Euronext Amsterdam are identified as high-risk markets in the OECD European market. Evidence emerging from this study advocate the inclusion of green bonds in these financial markets for shorter time periods only. Results from this study are expected to have practical implications for portfolio managers, investors, and market regulators, suggesting incorporation of green bonds in investor portfolio for efficient diversification of risk.

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“…This is the case even though businesses issued these bonds (Su et al 2022 ). In that concern, oil price movement goes above and beyond the “green” certification by focusing not just on eco-friendliness but also on the influence that its products have on the environment and the community (Kung et al 2022 ). According to green bonds reporting, more than 15% of so-called green bonds are turned down since they do not satisfy the organization’s established requirements.…”

Section: Literature Reviewmentioning

confidence: 99%

Investigating financialization perspective of oil prices, green bonds, and stock market movement in COVID-19: empirical study of E7 economies

Gao

Zhang

2023

Environ Sci Pollut Res

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The drastic influence of the COVID-19 crisis halted almost every industry and economy and made the quality of doing business in the oil industry and stock markets large. Also, COVID-19 diminished financial and economic performance to a greater extent. This issue still warrants modern solutions. Thus, preceding research inquired about the financialization perspective of oil prices, green bonds, and stock market movement in the COVID-19 crisis. For this, E7 economies’ data is selected to analyze the empirical findings of the research. The findings revealed that the green bonds have a weak link to crude oil, a weak correlation to stocks in the E7 settings, and a strong correlation to gold prices. While stock market return is also little correlated in COVID-19, stock volatility is highly significant in both directions with oil prices and green bonds movement. The hedging ratio has also shown a significant connection with oil prices and green bonds movement in determining the financialization of E7 economies. Hence, the study directs the implications for important industrial planning and policymaking decisions.

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Effects of green bonds on Taiwan's bioenergy development

Cited by 24 publications

References 51 publications

A green path towards sustainable development: Optimal behavior of the duopoly game model with carbon neutrality instruments

A green path towards sustainable development: Optimal behavior of the duopoly game model with carbon neutrality instruments

Dynamic connectedness of green bond with financial markets of European countries under OECD economies

Investigating financialization perspective of oil prices, green bonds, and stock market movement in COVID-19: empirical study of E7 economies

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