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This paper investigates the multi-dimensional risk spillover effects of carbon markets with energy, non-energy commodity and stock markets in China before and after the COVID-19 outbreak, through the DY network with GARCHSK-VaR method. The empirical results denote that the total bidirectional risk spillovers of carbon markets become larger after the COVID-19 outbreak than before the COVID-19 outbreak. Interestingly, in both periods, energy is the largest risk contributor to carbon markets, while carbon markets become the net risk contributors to stock markets under COVID-19. Furthermore, compared with Guangdong pilot, the impacts of Hubei pilot on other markets are stronger in both periods. Finally, the dynamic risk spillover effects have obvious differences between before and after the COVID-19 outbreak. [ABSTRACT FROM AUTHOR]

Accurate electricity demand forecasting is essential for global energy security, reducing costs, ensuring grid stability, and informing decision making in the energy sector. Disruptions often lead to unpredictable demand shifts, posing greater challenges for short-term load forecasting. Understanding electricity demand patterns during a pandemic offers insights into handling future disruptions. This study aims to develop an effective forecasting model for daily electricity peak demand, which is crucial for managing potential disruptions. This paper proposed a hybrid approach to address scenarios involving both government intervention and non-intervention, utilizing integration methods such as stepwise regression, similar day selection-based day type criterion, variational mode decomposition, empirical mode decomposition, fast Fourier transform, and neural networks with grid search optimization for the problem. The electricity peak load data in Thailand during the year of the COVID-19 situation is used as a case study to demonstrate the effectiveness of the approach. To enhance the flexibility and adaptability of the approach, the new criterion of separating datasets and the new criterion of similar day selection are proposed to perform one-day-ahead forecasting with rolling datasets. Computational analysis confirms the method's effectiveness, adaptability, reduced input, and computational efficiency, rendering it a practical choice for daily electricity peak demand forecasting, especially in disrupted situations. [ABSTRACT FROM AUTHOR]

Today, one of the main priorities in Europe is to introduce measures to increase environmental protection. Therefore, SMEs operating in the branch related to renewable energy are essential for several EU priorities. SMEs can also be vulnerable, especially during times of crisis, which could negatively affect renewable energy development. Therefore, this paper aims to evaluate and analyze the financial security management of renewable energy SMEs during the COVID-19 pandemic. The research is conducted on SMEs operating in the renewable energy sector in Poland. The research periods are 2019 (before the COVID-19 crisis) and 2020 (during the crisis). By analyzing different financial performance ratios, we found that SMEs operating in the energy sector have been able to stabilize and maintain their current economic position compared to the past. The results of this study indicate that the receivables collection period, cash conversion cycle, and operating cycle could have been insignificantly shorter during the COVID-19 crisis. Furthermore, to have stronger financial security, SMEs have adopted a conservative policy in which the share of accounts receivable in current assets has been significantly reduced during COVID-19. In contrast, an insignificant increase in liquidity, quick ratios, and inventory turnover have been observed. In general, Polish SMEs have chosen to adopt conservative strategies during COVID-19 to have better liquidity security. [ABSTRACT FROM AUTHOR]

The aim of this paper was to examine whether the COVID-19 epidemic has slowed the fulfilment of one of the core tasks of the energy sector "Ensure Access to Affordable, Reliable, Sustainable and Modern Energy for All" (SDG7) taking into account corporate social responsibility. Four research questions and hypotheses were posed, relating to the perspectives of local authorities, the activities of large energy companies, the impact of the epidemic on the implementation of the SDG7 and, in addition, to the understanding of CSR principles from the point of view of ordinary entrepreneurs. A qualitative descriptive analysis based on two reliable databases and a survey procedure (Question 4) was used to answer the research questions posed. The goal was achieved by positively confirming three hypotheses and testing one negatively, relating to COVID-19's slowing role in SDG7 implementation. The analysis showed that the 2020–2021 epidemic in Poland has led to more initiatives in this area, contrary to expectations. However, they were linked to the simultaneous implementation of other SDGs, which distorted their importance for achieving Goal 7. In summary, although energy companies were more active than expected during the epidemic, they had a low contribution to SDG 7. This also applies to local authorities. An analysis of the knowledge about CSR in a group of entrepreneurs from the Lublin district (case study) confirmed the opinion appearing in the literature about the lack of understanding of the concept and the need for its application. [ABSTRACT FROM AUTHOR]

The European Union is facing the highest natural gas prices in 15 years, owing largely to an upward trend in electricity prices, which is also on an uphill curve. However, the rise in electricity and natural gas prices is a widespread phenomenon that is being felt not only in Europe but also globally, as economic activity resumes and energy consumption returns to prepandemic levels. Consequently, this paper investigates how COVID-19 influenced the Romanian energy market. To accomplish our goal, we used daily data for variables and market indices that characterize COVID-19 and the energy market from July 1 to December 21, 2021. The results of the GARCH (1, 1) model estimation show that the major performer in Romania's energy allocation and supply market had the highest conditional variance. In addition, the ARDL model was chosen because of the variable integration mix (order 0 and 1), as well as the VAR and the Granger causality framework. The empirical results of ARDL models provide the first conclusion of the analysis, indicating that the number of short-term connections was greater than long-term connections, which is also explained by the presence of short episodes of high volatility recorded in the investigated time interval. Another conclusion drawn from this study is that COVID-19 cases registered in Europe and around the world have made a significant contribution to explaining the evolution of the energy market, owing to the large number of cases registered in these regions and the level of contagion transmitted from these markets to the energy market. Furthermore, based on the Granger causality test results, only one-way causal relationships were identified from the variables that capture the evolution of the COVID-9 pandemic to the yields of Romanian energy companies. The novelty of this article is the examination of the impact of COVID-19 on the energy market throughout the fourth wave of coronavirus using the GARCH framework, the ARDL model, which allows for the capture of both short- and long-term reactions, the variance decomposition, and the Granger causality test. Because of the ongoing changes in the pandemic's evolution, additional research on this topic is undoubtedly on the horizon in the near future. [ABSTRACT FROM AUTHOR]

Before the COVID crisis, the Netherlands and the UK were embarking on national energy transitions away from fossil fuel systems. However, the arrival of the pandemic unequivocally altered the trajectory of energy transitions on a global scale. Every country in the world is now grappling with the twin challenges of the COVID crisis and the climate crisis, and there is a grave risk that the short-term demands of the former could eclipse the vital long-term actions needed to address the latter. While there is optimism that green economic recoveries will propel energy transitions through investments, there is an urgent need to assess and address any new policy barriers which COVID poses to achieving them. To do so, in the summer of 2020, researchers conducted pairs of interviews with 30 experts within the social and energy sectors, involving government, industry and third sector stakeholders. Key research questions sought to identify the policy barriers acting – inadvertently or otherwise – to disrupt that balance between tackling COVID and the energy transition, and the mechanisms available to restore the necessary equilibrium. Through a structured analysis of policy barriers to the energy transition post-COVID, we assess its delivery in both countries. We derive a new taxonomy and definition of policy barriers. We also generate a suite of 10 policy recommendations, which were placed in priority order by the interviewees themselves. The paper concludes with observations on those recommendations, the differences noted between the two countries, and the validity of using policy barriers for policy analysis. [ABSTRACT FROM AUTHOR]

A city's economic structure and energy mix would change when the city is developed to accommodate more residents, visitors, and activities. This paper reviews Macao's economic growth, energy use, and greenhouse gases (GHG) emission from 1985 to 2020. Specifically, Macao's gross domestic product (GDP), energy use, and GHG emission have surged after the gaming industry was liberalized in 2002. The official data show that Macao's GDP was MOP 11 billion in 1985, increased by four-fold to MOP 54 billion in 2000, and then surged rapidly to MOP 445 billion in 2019. Additionally, Macao's total energy use increased from 8,840 TJ in 1985 to 48,330 TJ in 2019 while Macao's GHG emission increased from 0.70 Mt of CO2-equivalent in 1985 to 6.13 Mt of CO2-equivalent in 2019. Macao's GHG emission from all local sources per capita and GDP per capita exhibit an inverted U-shaped relationship, showing an environmental Kuznets curve. Due to the negative impact of COVID-19 pandemic, Macao's GDP dropped by 56% to MOP 194 billion while its total energy use and GHG emission dropped by 33% and 17% to 32,198 TJ and 5.06 Mt of CO2-equivalent, respectively, in 2020. [ABSTRACT FROM AUTHOR]

The paper aims to analyze the evolution of oil prices and renewable energy production in Italy during the first wave of the COVID-19 pandemic crisis with daily data for the period January 2020-September 2020 through several time series techniques (long memory test and spectral causality analysis) and Wavelet Analysis tools. Italy has been the first country all over the world to be severely hit by the pandemic, reacting immediately with strong restrictive measures. The applied results show that oil prices and renewable energy sources were highly correlated during the pandemic shock. Moreover, causality tests reveal a unidirectional flow running from solar, hydro, and wind sources to oil prices, highlighting the relevance of the effect of the energy transition on the oil market. It is also imperative for a country that is a net energy resources importer to achieve a more sustainable way of production and accelerate the energy transition process, especially during phases of high fossil fuel prices. [ABSTRACT FROM AUTHOR]

This paper examines renewable and technological prices' asymmetric multifractality and efficiency in international and Chinese marketplaces. The asymmetric multifractal detrended fluctuation analytics (A-MFDFA), multifractal detrended fluctuation analytics (MFDFA), and fractal dimension techniques are employed for multifractality and herding behavior. In addition, market deficiency measures (MDM) and hurst exponents are used to construct the inefficiency index (MLM- Magnitude of long-memory) during and before Covid-19. The empirical outcomes supported the existence of asymmetric multifractality across all renewable and technological marketplaces. This multifractality has been observed in up-and-down trends. Moreover, during the COVID-19 outbreak, inefficiency in CELS and SPGlobal's green energy prices increased, which is more apparent in the descending trends. Fractal dimension outcomes suggest a herding behavior in these markets during pandemic. The SPTSX green energy pricing statistics demonstrate that its upward multifractality is larger than the downward in both phases, signifying the strong efficiency position in the market. The SPIC-SH green energy pricing displayed considerable asymmetric multifractality, higher levels of efficiency, and even low levels of market uncertainty during COVID-19. The findings imply that all financial market players should prioritize various green energy investments depending on its asymmetric efficiency and predictability. It will help in their decision-making and reduces herding behavior in the market. • Asymmetric multifractal behavior is tested in global renewable and technological prices. • A-MFDFA and MFDFA and fractal dimension are used to analyze efficiency, scaling and herding behavior during and before COVID. • CELS and SPGlobal's green energy prices showed herding behavior before and inefficacy during COVID. • Green Technology and Chinese green energy prices were stable during COVID. • All green and technological prices were more stable before COVID-19. [ABSTRACT FROM AUTHOR]

The importance of the energy sector in the global economy is obvious and this is the reason why the main objective of this paper is to provide a broad overview of the COVID-19 pandemic impact on the world energy industry highlighting the effects on the fossil fuel, renewable energy sectors and energy demands. The price of oil has served as an additional indicator of the pandemic impact on the global economy. The reduced return on capital and the increased volatility in fossil fuel prices is making many investors look at these assets in the post-COVID World with a greater degree of caution. [ABSTRACT FROM AUTHOR]

COVID-19 brings new challenges to addressing climate change and achieving the goal of environmental sustainability. This paper examines how the COVID-19 pandemic affects transmission of returns spillovers among green finance, carbon market and renewable & non-renewable energy in China. We evaluate the dynamic and directional risk connectedness across time and at various frequency bands using Diebold and Yilmaz and Baruník and Křehlík approaches. First, the total spillover effects increase significantly when the COVID-19 outbreak. Second, the carbon price fluctuations are mainly influenced by non-renewable energy. Third, the spillover effect is mainly acted in the short term, meaning that it is strongly influenced by investor sentiment in the short term. Fourth, non-renewable energy and carbon markets are the main net recipients and can be used as hedge assets. Finally, the total spillover is time-varying that is affected by the unexpected crisis. The findings will help policymakers and environmental investors to develop policy measures and portfolios that are appropriate for different frequency domains. • Time-frequency connectedness among green finance, carbon and energy is tested. • Spillovers increase at the onset of the COVID-19 and mainly acted in the short-term. • The carbon price fluctuations are mainly influenced by non-renewable energy. • Non-renewable energy and carbon markets are the major net recipients. • The total spillover is time-varying affected by the unexpected crisis. [ABSTRACT FROM AUTHOR]

This paper examines the risk transmissions across the green economy indices of three major regions which include US, Europe and Asia. The econometric analyses are conducted using DCC-GARCH and TVP-VAR connectedness approach to evaluate potential spillover effects within the context of oil and gold. Results indicate that green economy indices of US-Europe exhibit the greatest time-varying correlations among the three pairs during much of 2010–2022 consistent with that of the general equity market. However, co-movements during the COVID-19 pandemic period seem to display a change in pattern for green economy indices. The strength of the co-movements between the US and Europe displayed a declining trend, while that between US and Asia was strengthened, suggesting greater interdependence between these two markets. TVP-VAR connectedness analysis revealed that US and Europe dominate the transmission of the shocks across the years in the green economy, similar to that of the equity markets. However, during the pandemic a pronounced shift occurred in green economies when considering the risk transmissions within the context of commodities: oil and gold. While Asian green economy index was persistently a receiver of risk transmission from oil unlike the other two regions, since pandemic, oil displayed an asymmetric effect and has become the net transmitter of risk in negative returns of the green economies of US and Europe. This may reflect the diversion in environmental policies of the two regions in the recent past, and point to the dominance of energy sector in the green economy. These findings have substantial implications for the development of green economy policies and from an investment perspective. [ABSTRACT FROM AUTHOR]

This paper examines the risk transmissions across the green economy indices of three major regions which include US, Europe and Asia. The econometric analyses are conducted using DCC-GARCH and TVP-VAR connectedness approach to evaluate potential spillover effects within the context of oil and gold. Results indicate that green economy indices of US-Europe exhibit the greatest time-varying correlations among the three pairs during much of 2010–2022 consistent with that of the general equity market. However, co-movements during the COVID-19 pandemic period seem to display a change in pattern for green economy indices. The strength of the co-movements between the US and Europe displayed a declining trend, while that between US and Asia was strengthened, suggesting greater interdependence between these two markets. TVP-VAR connectedness analysis revealed that US and Europe dominate the transmission of the shocks across the years in the green economy, similar to that of the equity markets. However, during the pandemic a pronounced shift occurred in green economies when considering the risk transmissions within the context of commodities: oil and gold. While Asian green economy index was persistently a receiver of risk transmission from oil unlike the other two regions, since pandemic, oil displayed an asymmetric effect and has become the net transmitter of risk in negative returns of the green economies of US and Europe. This may reflect the diversion in environmental policies of the two regions in the recent past, and point to the dominance of energy sector in the green economy. These findings have substantial implications for the development of green economy policies and from an investment perspective. [ABSTRACT FROM AUTHOR]