Time-frequency dynamics, co-movement and causality among returns of global carbon emissions trading schemes (ETSs): A tale of four markets

Meng, Yanli; Wang, Li; Wei, Yigang; Shi, Zhijun; Luo, Ziqian

doi:10.1016/j.jclepro.2022.132564

Cited by 8 publications

(2 citation statements)

References 26 publications

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“…Looking further at individual carbon markets, the researches on the Shenzhen and Hubei carbon markets is more abundant. For Shenzhen, it can be found that the price of carbon credits is more stable and lower, compared to EU-ETS [35]. The volatility of the yield gradually decreases and is negatively correlated with the expected risk [36].…”

Section: Introductionmentioning

confidence: 97%

Research on Carbon Allowance Price Non-Linear Structure Characteristics and Regime Switching Mechanism in China's Carbon Market

Wei,

Chen

2023

Pol. J. Environ. Stud.

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Carbon allowance prices (CAP) directly reflect the overall movement of the carbon market, which is the core of the carbon market operation and an important perspective for studying the carbon market. Based on the threshold model and regime switching model, through studying the performance of CAP in China's carbon market, the paper has the following conclusions. First, CAP show significant non-linear structure and three operating intervals of high, medium, and low, with most of the time being active in the medium and low intervals. Second, there is a stabilization mechanism in the current operation of CAP, which can adequately regulate the trend of CAP fluctuations and eventually converge back to the normal state. Finally, it is found that moderate increases are the main form of CAP volatility in China's carbon market, but other possible states and the risk of abnormal CAP volatility due to state transformation still exist. Furthermore, for investors, China's carbon market may be an ideal place to make long-term investments and hedge risks in the future. This paper provides theoretical support for investors and regulators in the carbon market to make scientific decisions based on the carbon market.

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Section: Introductionmentioning

confidence: 97%

Research on Carbon Allowance Price Non-Linear Structure Characteristics and Regime Switching Mechanism in China's Carbon Market

Wei,

Chen

2023

Pol. J. Environ. Stud.

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“…The existing ETS literature demonstrates a limited understanding of the factors that contribute to the adoption of ETS (Meng et al, 2022). The present body of research in the Malaysian context mostly focuses on a particular industry e.g., palm oil (Amran et al, 2013;Hamzah et al, 2019;Ooi et al, 2013;Zainuddin & Hamzah, 2023), and lacks comprehensive information about the current status of ETS implementation in Malaysia (Zainuddin and Hamzah, 2023).…”

Section: Introductionmentioning

confidence: 99%

The road to carbon trading in Malaysia: Unpacking knowledge and experience through scoping review and in-depth interviews

Alias,

Saarani,

Amran

et al. 2023

J. Infras. Policy. Dev.

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The emission trading scheme (ETS) is arguably one of the most effective approaches for encouraging industries to transition to a low-carbon economy and, as a result, assisting nations in meeting their goals under the United Nations Framework Convention on Climate Change to mitigate the challenge of climate change. ETS is gaining popularity as more governments throughout the world contemplate implementing it, particularly in developing countries. Much of the existing research has concentrated on debates concerning ETS operations in developed nations. This study is to give a discourse of the success criteria for ETS implementation that have been identified in the literature and then cross-referenced in the context of Malaysia. For this, the research used an integrated approach of scoping review of existing literature and in-depth interviews with Malaysian stakeholders. Using Narassimhan et al. (2018)’s ETS assessment framework, the scoping review identified five major attributes that lead to successful ETS implementation in a global context that are environmental effectiveness, economic efficiency, market management, stakeholder engagement, and revenue management. In-depth interviews with several groups of discovered stakeholder engagement as an essential attribute that would play a critical role in advancing ETS implementation in Malaysia. The study concludes by proposing a complete strategy based on empirical information and first-hand narratives, providing useful insights for politicians, industry players, and environmental activists. The recommendation is especially important as Malaysia strives to improve its commitment to sustainable and responsible development in light of the challenges posed by climate change.

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Understanding the relation between the socio-economic development and CO2 emission of 76 contracting countries in The Paris Agreement

Zhang

Wei

2022

Environ Dev Sustain

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Time-frequency dynamics, co-movement and causality among returns of global carbon emissions trading schemes (ETSs): A tale of four markets

Cited by 8 publications

References 26 publications

Research on Carbon Allowance Price Non-Linear Structure Characteristics and Regime Switching Mechanism in China's Carbon Market

Research on Carbon Allowance Price Non-Linear Structure Characteristics and Regime Switching Mechanism in China's Carbon Market

The road to carbon trading in Malaysia: Unpacking knowledge and experience through scoping review and in-depth interviews

Understanding the relation between the socio-economic development and CO2 emission of 76 contracting countries in The Paris Agreement

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