Lead-lag relations between the Chinese carbon and energy markets: Evidence from extreme climate shocks

Jingbo Li; Zhang Hangjian Chen; Xiang Gao; Ronald Huisman; Kees Koedijk

doi:10.1016/j.frl.2024.106317

Lead-lag relations between the Chinese carbon and energy markets: Evidence from extreme climate shocks

Jingbo Li
, Zhang Hangjian Chen
, Xiang Gao
, Ronald Huisman^*
, Kees Koedijk

^*Corresponding author for this work

Research output: Contribution to journal › Article › Academic › peer-review

Abstract

We examine how lead-lag relationships between China's carbon market and energy markets change during extreme climate events. We show that extreme climate events strengthen the lead-lag relationship between markets, especially during extreme cold and heat periods during which energy demand spikes.

Original language	English
Article number	106317
Journal	Finance Research Letters
Volume	70
DOIs	https://doi.org/10.1016/j.frl.2024.106317
Publication status	Published - Dec 2024

Bibliographical note

Publisher Copyright:
© 2024

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 13 Climate Action

Keywords

Carbon markets
Energy markets
Extreme climate events
Lead-lag relationships

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10.1016/j.frl.2024.106317Licence: CC BY

1-s2.0-S1544612324013461-mainFinal published version, 1.52 MBLicence: CC BY

Cite this

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title = "Lead-lag relations between the Chinese carbon and energy markets: Evidence from extreme climate shocks",

abstract = "We examine how lead-lag relationships between China's carbon market and energy markets change during extreme climate events. We show that extreme climate events strengthen the lead-lag relationship between markets, especially during extreme cold and heat periods during which energy demand spikes.",

keywords = "Carbon markets, Energy markets, Extreme climate events, Lead-lag relationships",

author = "Jingbo Li and Chen, \{Zhang Hangjian\} and Xiang Gao and Ronald Huisman and Kees Koedijk",

note = "Publisher Copyright: {\textcopyright} 2024",

year = "2024",

month = dec,

doi = "10.1016/j.frl.2024.106317",

language = "English",

volume = "70",

journal = "Finance Research Letters",

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TY - JOUR

T1 - Lead-lag relations between the Chinese carbon and energy markets

T2 - Evidence from extreme climate shocks

AU - Li, Jingbo

AU - Chen, Zhang Hangjian

AU - Gao, Xiang

AU - Huisman, Ronald

AU - Koedijk, Kees

PY - 2024/12

Y1 - 2024/12

N2 - We examine how lead-lag relationships between China's carbon market and energy markets change during extreme climate events. We show that extreme climate events strengthen the lead-lag relationship between markets, especially during extreme cold and heat periods during which energy demand spikes.

AB - We examine how lead-lag relationships between China's carbon market and energy markets change during extreme climate events. We show that extreme climate events strengthen the lead-lag relationship between markets, especially during extreme cold and heat periods during which energy demand spikes.

KW - Carbon markets

KW - Energy markets

KW - Extreme climate events

KW - Lead-lag relationships

UR - https://www.scopus.com/pages/publications/85206603862

U2 - 10.1016/j.frl.2024.106317

DO - 10.1016/j.frl.2024.106317

M3 - Article

AN - SCOPUS:85206603862

SN - 1544-6123

VL - 70

JO - Finance Research Letters

JF - Finance Research Letters

M1 - 106317

ER -

Lead-lag relations between the Chinese carbon and energy markets: Evidence from extreme climate shocks

Abstract

Bibliographical note

UN SDGs

Keywords

Access to Document

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