Search Results (62)

The scientific investment decision of Park-level Integrated Energy System (PIES) projects is of great significance to energy enterprises for improving the efficient utilization of funds, promoting green and low-carbon transformation, and achieving the goal of carbon neutrality. This paper proposed a two-stage investment framework that integrates a multi-objective 0–1 programming model with a multi-criteria decision-making (MCDM) technique to determine the optimal PIES project investment portfolios under the constraint of quota investment. First, a multi-objective (MO) 0–1 programming model was constructed for typical PIES projects in Stage-I, which considers economic and environmental benefits to obtain Pareto frontier solutions, i.e., PIES project portfolios. Second, an evaluation index system from multiple dimensions was established, and a hybrid MCDM technique was adopted to comprehensively evaluate the Pareto frontier solutions in Stage-II. Finally, the proposed model was applied to an empirical case, and the simulation results show that the decision framework can achieve the best overall benefit of PIES project portfolios with maximal economic benefit and minimum carbon emissions. In addition, the robustness analysis was performed by changing the indicator weights to verify the stability of the proposed framework. This research work could provide a theoretical tool for investment decisions regarding PIES projects for energy enterprises. Full article

Understanding the price dynamics of oil futures is crucial for advancing green finance strategies and supporting sustainable energy transitions. This study investigates the macroeconomic and energy market determinants of oil futures prices through Granger causality, cointegration analysis, and the error correction model, using daily data. It focuses on the influence of economic development levels, exchange rate fluctuations, and inter-energy price linkages. The empirical findings indicate that (1) oil futures prices exhibit strong correlations with other energy prices, macroeconomic factors, and exchange rate variables; (2) economic development significantly affects oil futures prices, while exchange rate impacts are statistically insignificant based on the daily data analyzed; (3) there exists a stable long-term equilibrium relationship between oil futures prices and variables representing economic activity, exchange rates, and energy market trends; (4) oil futures prices exhibit significant short-term dynamics while adjusting steadily toward a long-run equilibrium driven by macroeconomic and energy market fundamentals. By enhancing the accuracy of oil futures price forecasting, this study offers practical insights for managing financial risks associated with fossil energy markets and contributes to the formulation of low-carbon investment strategies. The findings provide a valuable reference for integrating energy pricing models into sustainable finance and climate-aligned portfolio decisions. Full article

Accelerating the low-carbon transition of China’s coal-fired power sector is essential for advancing national sustainability goals and fulfilling global climate commitments. This study introduces an integrated, data-driven analytical framework to facilitate the sustainable transformation of the coal power sector through coordinated unit-level retirements, new capacity planning, and targeted retrofits. By combining a comprehensive unit-level database with a multi-criteria evaluation framework, the analysis incorporates environmental, technical, and economic factors into decision-making for retirement scheduling. Scenario analyses based on the China Energy Transformation Outlook (CETO 2024) delineate both baseline and ideal carbon neutrality pathways. Optimization algorithms are employed to identify cost-effective retrofit strategies or portfolios, minimizing levelized carbon reduction costs. The findings reveal that cumulative emissions can be reduced by 10–14.9 GtCO₂ by 2060, with advanced technologies like CCUS and co-firing contributing over half of retrofit-driven mitigation. The estimated transition cost of 6.2–6.7 trillion CNY underscores the scale of sustainable investment required. Sensitivity analyses further highlight the critical role of reducing green hydrogen costs to enable deep decarbonization. Overall, this study provides a robust and replicable planning tool to support policymakers in formulating strategies that align coal power sector transformation with long-term sustainability and China’s carbon neutrality commitments. Full article

This study is the first to use the Bayesian Estimator of Abrupt Change, Seasonality, and Trend (BEAST) algorithm to detect trend change points in the nexuses between the green bond index (Green Bond) and WTI of crude oil, gasoline, as well as natural gas futures. The COVID-19 pandemic and the Russia–Ukraine war are identified as common significant trend change points, and the total sample is subsequently divided into three stages based on these points. Utilizing a skewed MF-DCCA method, this study analyzed the skewed multifractal characteristics between the Green Bond and the energy futures across these stages. The results revealed that both the multifractal characteristics and risk levels experienced significant changes across different periods, exhibiting skewed multifractality. Specifically, from the pre-pandemic period to the post-Russia–Ukraine conflict period, the multifractal features and risk of the Green Bond and WTI and Green Bond and Gasoline groups first declined and then increased, while the Green Bond and Natural Gas group displayed an opposite trend, showing an initial increase followed by a decline. A portfolio analysis further indicated that Green Bond provided effective hedging against all three types of energy futures, particularly during crisis periods. Notably, the portfolios constructed using the Mean-MF-DCCA model, which incorporated multifractal features, outperformed those constructed by traditional portfolio models. These findings offered new insights into the dynamic characteristics of the Green Bond and energy futures markets and provided important policy implications for portfolio optimization and risk management strategies. Full article

Jordan, which depends largely on imported fuel, is confronted with an increasing demand for energy due to regional socio-political dynamics and population growth. This dependence highlights the necessity of locally supplied, sustainable energy sources to reduce environmental damage and economic vulnerability. Thus, the goal of this study is to categorize these sources based on their priorities for use, as well as to develop and evaluate sustainable RE technologies. In order to diversify the energy portfolio, lessen reliance on fossil fuels, and offer suggestions for sustainable growth, this study investigates renewable energy sources (RES) in Jordan. A model is developed to study and evaluate RES technologies and introduce actions for their exploitation. In order to prioritize renewable energy sources and improve energy independence and sustainability, this paper looks at renewable energy technologies that are feasible for Jordan, using a variety of MCDM methodologies. This study emphasizes Jordan’s urgent need for green, sustainable energy, highlighting solar, hydropower, and wind projects as the most advantageous options, promoting energy independence. The outcomes designate the applicability of the proposed model and integrated tools for analyzing renewable energy technology. The findings assist a shift toward energy independence and sustainability by providing decision-makers with a systematic, data-driven method for prioritizing green energy investments. Full article

For the net-zero emission goal by 2050, the government of Taiwan has mandated large electricity consumers to utilize 10% green electricity to mitigate carbon emissions. Major enterprises face challenges in selecting appropriate green power options and integrating the benefits of carbon reduction into corporate governance decision-making. This study aims to optimize the combination of various green power options through a system dynamics approach, incorporating existing power purchase conditions and electricity consumption data from enterprises. In addition, by utilizing financial estimations with the monetization of environmental benefits, we constructed a more complete evaluation model for enterprises transitioning to green power. The results indicate low investment returns in various green energy portfolios. However, if power storage equipment is utilized to participate in auxiliary services, the investment return of green energy can be significantly enhanced. This evaluation model is also available online for business professionals across various sectors to explore and reference. Full article

This paper develops a strategic framework that integrates the theoretical perspectives of evolutionary economic geography and economic complexity to identify green export opportunities. By combining feasibility factors—such as green specialization, relatedness, and trade inertia—with desirability criteria like income, equity, and low emissions, the framework offers a comprehensive approach to identify green export diversification. The empirical application, focused on the Southern Cone (Argentina, Brazil, Chile, Paraguay, and Uruguay), suggests that economies should prioritize green opportunities aligned with their existing capabilities, gradually expanding into higher-risk, higher-return options. The study provides tailored green export diversification portfolios for each country, identifying key opportunities in renewable energy products for Argentina and Brazil, lithium-related inputs for Chile, biofuels for Paraguay, and green hydrogen for Uruguay. These findings offer valuable insights for the design of public policies aimed at fostering green export diversification. Full article

To promote the low-carbon energy transition, China is implementing renewable energy (RE) development policies such as renewable portfolio standards (RPSs), carbon emissions trading (CET) and China certified emission reduction (CCER) trading. However, using China’s current CET price to accurately reflect market information is difficult, which is not conducive to guiding low-carbon investment. Additionally, as RE power enters the era of grid parity, more revenues are needed to maintain generator operations. Therefore, in this study, we construct a system dynamics model to explore whether and how market mechanisms can optimize the power generation structure, and sensitivity analyses of CCER policy parameters are carried out to identify the impact and scope for improvement. The results show that (1) the market mechanism, especially the RPS mechanism, adjusts the profits of power generators, eliciting a surge in RE generation and optimizing the power generation structure; (2) CET and CCER prices change in the opposite direction of tradable green certificates (TGCs) and show a significant improvement effect on the on-grid electricity price; (3) successful implementation of the CCER mechanism can effectively energize the CET market. A lower CCER benchmark price, higher CCER offset ratio and CET fines can accelerate the growth of CCER and CET prices. Therefore, the government should promote TGC separation from power trading and rationally design CCER policies by lowering the CCER credit ratio, increasing CET fines, and expanding CCER market capacity to ensure that the guiding role of the market mechanism is better utilized. Full article

Positive Energy Districts (PEDs) represent an innovative approach to thinking and designing cities sustainably, in compliance with the European Union energy strategy. This strategy integrates sectors such as urban planning, energy, and construction to synergistically address energy and environmental challenges. Studies on sustainability assessment systems applied in PEDs evidenced that they focus mostly on energy aspects, while few include a comprehensive life cycle assessment of equivalent CO₂ emissions, considering the building component and the impacts of the materials used. Additionally, most assessments are conducted on the urban and district scale, such as Neighborhood Sustainability Assessments (NSA), which begin to correlate PEDs with the dynamics of selecting sustainable materials for green-certified projects, analyzed throughout the entire life cycle, relying on the adoption of Green Building Rating Systems (GBRS) at the building scale. To explore the impact of environmentally friendly (i.e., ‘green’) GBRS certifications in the selection of building materials and products according to sustainability criteria, and to encourage their use in projects explicitly referring to PEDs, this study analyzes the technical solutions implemented in two significant residential building renovation projects in Italy from a PED perspective. It proposes a classification system based on the required targets of energy efficiency, energy production, and energy flexibility. The results include the definition of an expandable portfolio of technical solutions, an analytical comparison between the materials used in the energy renovation projects of the case studies examined, and the sustainability criteria provided by voluntary ’green’ certification tools (GBRS). The collected evidence offers an operational framework that confirms the positive impact of GBRS certifications and the related selection of materials on sustainable urban development, contributing to the scientific debate on PEDs. Furthermore, the use of voluntary ’green’ certifications at the building scale can be encouraged in the context of the transition towards PEDs, aiming to identify specific criteria and indicators for the selection of building materials to be integrated into future PED certifications. This aims to contribute to creating energy self-sufficient urban areas, focusing on sustainability, efficiency, and innovation, in line with global emission reduction and climate change mitigation goals. Full article

This study examines the effects of transitioning to hydrogen production in the National Capital Region (NCR) and Palawan Province, Philippines, focusing on technology, environment, and stakeholder impact. This research, conducted through a July 2022 survey, aimed to assess public awareness, knowledge, risk perception, and acceptance of hydrogen and its environmentally friendly variant, green hydrogen, infrastructure. Disparities were found between urban NCR and rural Palawan, with lower awareness in Palawan. Safety concerns were highlighted, with NCR respondents generally considering hydrogen production safe, while Palawan respondents had mixed feelings, particularly regarding nuclear-based hydrogen generation. This report emphasizes the potential ecological advantages of hydrogen technology but highlights potential issues concerning water usage and land impacts. It suggests targeted public awareness campaigns, robust safety assurance programs, regional pilot projects, and integrated environmental plans to facilitate the seamless integration of hydrogen technology into the Philippines’ energy portfolio. This collective effort aims to help the country meet climate action obligations, foster sustainable development, and enhance energy resilience. Full article

The expansion of renewable energy sources (RES) is essential to achieving regional sustainability in alignment with global climate goals. This study investigates the dynamics and projected growth of RES in West Pomerania, Poland, a region with significant potential due to its geographical characteristics and supportive policy frameworks. Historical data from 2010 to 2023 were used to perform a time series analysis that evaluated the annual growth rate (AGR) of various RES technologies, including wind, solar, biomass, and biogas. The analysis revealed a consistent upward trend in RES capacity, particularly in wind and solar energy, demonstrating effective resource mobilisation in the region. Subsequently, a forecasting model was employed to project the growth of the RES capacity through 2033 based on historical trends and technological advancements. The results indicate significant anticipated increases in RES capacity, highlighting West Pomerania’s potential to reduce its reliance on fossil fuels. This growth supports increased energy security and environmental sustainability. This study addresses a notable gap in the literature by linking regional renewable energy development with broader policy frameworks, such as the European Green Deal, and exploring the specific challenges of grid integration and economic disparities in the context of local energy transitions. These findings highlight the importance of sustained investment and policy support to scale renewable infrastructure while aligning regional initiatives with international sustainability goals. By bridging this gap, this study concludes that the West Pomerania strategy can serve as a model for other regions aiming to enhance their renewable energy portfolios and effectively meet the climate goals of the EU. Full article

In the context of China’s electricity market reform, green certificate trading and carbon trading, as important policy tools to promote the development of renewable energy and energy conservation and emission reduction in the power industry, will inevitably be coupled with the electricity market. In order to study whether the coupled market can successfully achieve the goals of power supply structure adjustment and carbon emission reduction, this paper establishes a system dynamics (SD) model, analyzes the correlation and coordination mechanism among the green certificate market (TGC), carbon market (ET) and electricity market, including generation right trading, and simulates the changes of market price and power supply structure. The results show that (1) the power price under the coupling of three markets includes the TGC price and the ET price, so it is influenced by the ratio of renewable portfolio standards (RPS) and carbon reduction policy; (2) the combination of the TGC mechanism and the ET mechanism will be conducive to the optimization of long-term market power supply structure, so as to promote the realization of emission reduction targets; and (3) power generation rights trading, as a carbon reduction policy, will reduce the power generation of fossil energy in the short-term market, but in the long run, it will lead to the loss of momentum for the development of renewable energy. Therefore, regulators need to reasonably adjust different policies in order to give full play to the comprehensive regulatory role and help the energy and power industry and the low-carbon transformation of society. Full article

With the advent of greening the global economy and the introduction of green financial assets, this study examines the connectedness and spillover effect of green assets using a QVAR approach focusing on the average connectedness and connectedness under extreme market conditions. The time of the study captures the crucial global incidents of COVID-19 and Russia–Ukraine war to investigate the effect of major incidents on the connectedness of green assets. The results of the QVAR analysis reveal that green assets are moderately connected under normal market conditions; however, their connection is strengthened under extreme market conditions. IOTA and SP Green Bonds are the net receivers of shocks from other assets, and SP Green Bonds are connected to green energy indices and green cryptocurrencies during turbulent markets. Since green cryptocurrencies are closely connected, a lower portion of them should be added to portfolios, whereas SP Green Bonds qualify as a good diversifying agent in a portfolio. The study has significant implications for market participants, investors, and policymakers. Full article

The building sector contributes significantly to energy consumption and greenhouse gas emissions, with many buildings being energy inefficient. In response, the European Green Deal promotes improving energy efficiency to support decarbonization goals. However, managing energy consumption and integrating data from multiple sources presents challenges, especially for large building portfolios. This study introduces a novel methodology designed to optimize energy renovation strategies, balancing technical, financial, and maintenance considerations. The methodology is implemented in CERPlan 1.0, a web-based decision-support platform that combines data on building energy performance, renovation costs, and maintenance needs. Through simulations, CERPlan 1.0 helps decision-makers prioritize retrofit interventions based on economic criteria while leveraging synergies between energy improvements and regular maintenance. Application of this methodology to real estate portfolios reveals opportunities to enhance cost-effectiveness and energy savings. The results show that integrating maintenance into renovation planning reduces payback times and allows for more comprehensive renovation strategies. The conclusions highlight CERPlan 1.0’s potential to improve decision-making, making building renovations more efficient and sustainable. Full article

Prefabricated buildings (PBs) are considered a green way to reduce energy consumption and carbon emissions in the construction industry due to their environmental and social benefits. However, PBs have obstacles such as high construction costs, immature technology, and insufficient policy incentives, and developers’ willingness to develop them needs to be higher. Therefore, it is necessary to explore how to motivate more developers to develop PBs. In this paper, we first discuss the impact of the carbon emissions trading scheme (ETS) on the construction industry and then consider the heterogeneity of construction developers, introduce a collaborative mechanism to establish a three-party evolutionary game model between the government and the heterogeneous developers, and explore the evolution of the three-party dynamic strategies through numerical simulation. The results show that developers’ initial development probability affects the system’s evolutionary trend, and the developer who obtains more low-carbon benefits plays a dominant role. Further analyses show that critical factors such as market profitability, synergistic benefits, and carbon tax price positively influence the development of PBs, and the influence of synergistic cooperation mechanisms should be especially emphasized. This study provides practical insights into the sustainable development of the construction industry and the government’s development of a suitable carbon portfolio policy for it. Including the construction industry in the ETS is recommended when carbon prices reach 110 RMB/t. At this point, the government can remove the subsidy for PBs, but the behaviors of the developers who participate in the ETS still need to be supervised. Full article