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The Extreme Climate, Electricity–Carbon Markets, and Digitalization

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (25 February 2024) | Viewed by 3353

Special Issue Editor


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Guest Editor
School of Economics, Hefei University of Technology, Hefei 230009, China
Interests: energy consumption and cabon emissions; regional economy; economic geography; digital economy; carbon market
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Melting glaciers, rising sea levels, and increasing extreme weather events—a warming climate brings a host of problems that are affecting every human on Earth. Reducing carbon emissions is one of the ways to deal with climate warming. The goal set by human beings is "zero-carbon emissions". At present, more than 20 countries and regions have put forward the goal of being a "zero-carbon country", and the transition to green and low-carbon energy has become a unified global action. Carbon neutrality is a measure of the carbon dioxide (greenhouse gases, to be precise) released being equal to the carbon dioxide absorbed, such that there is no increase in carbon dioxide in the atmosphere. Each of the many paths to carbon neutrality is critical. Market mechanisms are the most efficient means of energy resource allocation and climate governance. The essence and common purpose of market mechanisms, which take the power market and carbon market as their main means, is to promote the development of the power industry to be cleaner, efficient, and low-carbon. The key is to explore financial institutions' participation in electricity and carbon market trading, as well as to improve green financial products, services, and market systems. Digital transformation has become the best tool for sustainable development. Improving energy efficiency through digital technology is still the best way for most companies to achieve sustainable development.

Possible topics for publication include, but are not limited to, the following:

  • Extreme climate evolution;
  • Zero-carbon target;
  • The path to carbon neutral;
  • Electricity market trading mechanisms;
  • Carbon market trading mechanisms;
  • Comparison of the electricity–carbon markets;
  • Digitization facilitates a low-carbon transition path;
  • The application of digital technologies in low-carbon development;
  • Digital transformation of power–carbon markets.

Dr. Jun Li
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • extreme weather
  • energy conservation and carbon reduction
  • carbon-neutral
  • electricity–carbon markets
  • sustainable development
  • green development
  • digital transformation
  • digital technology
  • mechanism of market

Published Papers (3 papers)

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Research

19 pages, 6924 KiB  
Article
Measurement of Carbon Total Factor Productivity in the Context of Carbon–Electricity Market Collaboration: An Application of Biennial Luenberger Productivity Index
by Li Zhang, Hao Li, Zhumeng Song, Wei Shi and Wenxiang Sheng
Energies 2024, 17(5), 1219; https://doi.org/10.3390/en17051219 - 4 Mar 2024
Viewed by 711
Abstract
China’s industrial sector generally relies on electricity as its main source of energy, and industrial production can be affected if there are problems with the electricity supply. In order to deal with the uncertain electricity supply and achieve the “dual carbon” target, the [...] Read more.
China’s industrial sector generally relies on electricity as its main source of energy, and industrial production can be affected if there are problems with the electricity supply. In order to deal with the uncertain electricity supply and achieve the “dual carbon” target, the industrial sector needs to take effective measures to enhance carbon total factor productivity (CTFP). We use the biennial Luenberger productivity index (BLPI) to try to provide strategies for low-carbon industrial development in China. The results indicate that the overall CTFP of China’s industrial sector showed an increasing trend from 2006 to 2019. Technology change was the main contributor to the change in CTFP, but fluctuations in efficiency change remained a challenge. Differences were observed between the light industry sector (LIS) and the heavy industry sector (HIS) in terms of changes in CTFP, with LIS showing more stable changes and HIS experiencing larger fluctuations. Most sub-sectors showed increased CTFP during the sample period. R&D investment and R&D personnel have a positive impact on CTFP, while energy structure is found to hinder CTFP. According to the research results of this study, we offer the corresponding policy implications. This study is the first to explore the balance between low-carbon goals and industrial production from the perspective of improving CTFP, providing a new viewpoint on the contributions of technological innovation to solving socio-economic issues. Full article
(This article belongs to the Special Issue The Extreme Climate, Electricity–Carbon Markets, and Digitalization)
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15 pages, 462 KiB  
Article
The Choice of Cooperative Governance Mechanism in Open Innovation Projects under the Synergy of the Electricity–Carbon Market
by Ping Fang, Liang Wan and Wenpei Fang
Energies 2023, 16(17), 6110; https://doi.org/10.3390/en16176110 - 22 Aug 2023
Cited by 2 | Viewed by 975
Abstract
Improving the level of cooperative governance of open innovation projects is a key bridge and powerful starting point for promoting the full integration and coordinated development of different market systems. Against the background of the synergy of the electricity–carbon market, this study explores [...] Read more.
Improving the level of cooperative governance of open innovation projects is a key bridge and powerful starting point for promoting the full integration and coordinated development of different market systems. Against the background of the synergy of the electricity–carbon market, this study explores how a company chooses a cooperative governance mechanism and the implementation effects of governance mechanisms. The results, based on the sample data from 175 OIPs of companies in China, show that the collaborative dependence of a company promotes the implementation of relational governance; however, it has no significant effect on contract control. Meanwhile, both relational governance and contract control have significant positive effects on knowledge transfer and cooperative performance. Moreover, knowledge transfer plays a mediating role in relational governance, contract control, and cooperative performance. The conclusion enriches the understanding of cooperative governance mechanisms, which has important implications for management research and the practice of open innovation projects. It also has certain practical significance for helping the power industry to achieve the goal of carbon neutrality. Full article
(This article belongs to the Special Issue The Extreme Climate, Electricity–Carbon Markets, and Digitalization)
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27 pages, 4527 KiB  
Article
Dynamic Spillovers between Carbon Price and Power Sector Returns in China: A Network-Based Analysis before and after Launching National Carbon Emissions Trading Market
by Jing Deng, Yujie Zheng, Yun Zhang, Cheng Liu and Huanxue Pan
Energies 2023, 16(14), 5578; https://doi.org/10.3390/en16145578 - 24 Jul 2023
Cited by 1 | Viewed by 1090
Abstract
The launch of the national carbon emissions trading (CET) market has resulted in a closer relationship between China’s CET market and its electricity market, making it easy for risks to transfer between markets. This paper utilizes data from China’s CET market and electric [...] Read more.
The launch of the national carbon emissions trading (CET) market has resulted in a closer relationship between China’s CET market and its electricity market, making it easy for risks to transfer between markets. This paper utilizes data from China’s CET market and electric power companies between 2017 and 2023 to construct the spillover index model of Diebold and Yilmaz, the frequency-domain spillover approach developed by Barun’ik and Křehl’ik, and a minimum spanning tree model. The comparison is made before and after the launch of the national CET market. Subsequently, this paper examines the market spillover effects, as well as the static and dynamic properties of network structures, considering both the time domain and frequency-domain perspectives. The research findings suggest the following: (1) There is a strong risk spillover effect between China’s CET market and the stock prices of electric power companies; (2) There is asymmetry in the paired spillover effects between carbon trading pilot markets and the national CET market, and differences exist in the impact of risk spillovers from power companies between the two; (3) The results of the MST model indicate that the risk contagion efficiency is higher in the regional CET pilot stage compared to the national CET market launch stage, with significant changes occurring in key nodes before and after the launch of the national CET market; (4) Both the dynamic spillover index and the standardized tree length results demonstrate that crisis events can worsen the risk contagion between markets. Besides offering a theoretical foundation and empirical evidence for the development of China’s CET and electricity markets, the findings of this paper can provide recommendations for financial market participants as well. Full article
(This article belongs to the Special Issue The Extreme Climate, Electricity–Carbon Markets, and Digitalization)
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