环境,社会和治理基金与生物燃料之间的回报联系
1School of Management, China Institute for Studies in Energy Policy, Collaborative Innovation Center for Energy Economics and Energy Policy, Xiamen University, Fujian, 361005, China.
Journal of environmental management
|January 1, 2025
概括
环境,社会和治理 (ESG) 基金显示出与生物燃料市场,特别是大豆油的显著回报相关性. 在全球危机期间,ESG投资可以稳定生物燃料并推动能源转型.
科学领域:
- 金融 金融 金融 金融 金融
- 环境经济学环境经济学
- 能源市场 能源市场
背景情况:
- 环境,社会和治理 (ESG) 投资正在增长.
- 生物燃料市场对于能源转型至关重要.
- 了解ESG基金与生物燃料之间的财务联系至关重要.
研究的目的:
- 调查ESG基金与生物燃料市场之间的回报相关性 (RC).
- 分析ESG基金在促进生物燃料转型中的作用.
- 确定影响ESG和生物燃料之间的RC的因素.
主要方法:
- 使用了时间变化的参数向量自回归 (TVP-VAR) 和连续波形变换 (CWT) 模型.
- 分析了2019年1月至2023年12月的数据.
- 在不同的频率和全球事件期间检查RC.
主要成果:
- 阳性RCs在大豆油中比乙醇更频繁.
- ESG基金的回报单向地影响生物燃料的回报,特别是在COVID-19大流行期间.
- 负收益率和全球事件 (COVID-19,俄乌战争) 增加RC.
结论:
- 通过ESG投资,可以稳定生物燃料市场.
- 建议采取有针对性的政策,鼓励ESG投资.
- 在加速向生物燃料能源过渡方面,ESG基金发挥着重要作用.
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