Challenges to environmental governance arising from the Russo-Ukrainian conflict: Evidence from carbon emissions

Environmental life cycle assessment of the Russian, Canadian, and Qatari natural gas supply to Europe

While Russia's invasion of Ukraine has caused many economic, environmental and political setbacks, the energy crisis it has created could have an accelerating effect on Europe's energy security and decarbonization efforts. The insecure energy supply and the possibility of using the energy trump card as a weapon led Europe to seek alternative energy sources. At the forefront of these searches, which are developing at the same time as decarbonization efforts, is the supply of liquefied natural gas (LNG) from different countries. In this study, the environmental effects of LNG transfer from Canada and Qatar are compared with the Russian supply from a life cycle perspective. Accordingly, 1 m3 of natural gas transported from Russia, Canada, and Qatar to Germany causes approximately 2072, 150 and 1996 t CO2eq production, respectively. The adverse effects of Russian gas on human health and accession to resources are also greater than in other scenarios. It is concluded that LNG transfer from Canada is the best option. Consequently, transoceanic LNG transport, in which ships are the leading actor, has been concluded to be the best choice for the environment as well as having the capacity to play a dominant role in terms of quantity for Europe's energy supply. It is predicted that the use of renewable energy sources in the production of LNG will further reduce the environmental impacts. The study will provide a baseline for examining the environmental impacts of European energy supply and security. This data will allow policy makers to assess the issue more holistically.

The dynamic risk spillover effects among carbon, renewable energy, and electricity markets based on the TVP-VAR-DY model

The linkages among carbon, renewable energy, and electricity markets are gradually strengthening. In order to prevent risk transmission among markets, this paper uses the TVP-VAR-DY (Time-Varying Parameter-Vector Auto Regression-Dynamic) model to analyze the dynamic risk spillover effects and network structure of risk transmission among carbon, renewable energy, and electricity markets. The empirical results show that there are significant asymmetric spillover effects among carbon, renewable energy, and electricity markets. The total spillover index shows that spillover effects among carbon, renewable energy, and electricity markets are time-varying, especially during unexpected events. Besides, the net spillover index indicates that the spillover effects are bidirectional, asymmetric, and time-varying. Finally, under the influence of unexpected events, the network structures of risk transmission among carbon, renewable energy, and electricity markets are heterogeneous. Compared to the Russia-Ukraine conflict, the COVID-19 pandemic has a more significant impact on these markets.

Carbon reduction attention and financial market stress: A network spillover analysis based on quantile VAR modeling

As climate change intensifies, attention to the issue of carbon emission reduction has gradually increased. This research constructs a complete set of indicators of carbon reduction attention and financial market stress and applies the quantile VAR method to calculate the volatility spillover between carbon reduction attention and financial market stress. We conclude with the following. Firstly, a relatively close volatility spillover association exists between carbon reduction attention and financial market stress. In the research system, carbon reduction attention mainly assumes the role of information receiver. Additionally, when examining the spillover status in different quantiles, the total spillover level shows an irregular "bowl" structure, while the net spillover level of each variable has different shapes. Secondly, the dynamic spillover level in the extreme quantile condition maintains a connectivity range of 60-80%, significantly higher than that of the median condition. Finally, this study finds two sets of significant complementary spillovers within the system, namely, "carbon reduction attention - crude oil market stress" and "stock market stress - real estate market stress", which provide investors with an opportunity to explore the potential of the carbon reduction attention and real estate market stress in the future.