Abstract
Carbon prices are important for promoting a low-carbon transformation of the economy. The fluctuation of energy prices affects carbon prices through supply and demand chains, thus affecting the achievement of emission reduction targets through carbon pricing tools. Based on daily time series data, a mediating effect model is constructed to study the impact of energy prices on carbon prices. We analyze how energy prices impact carbon prices using four different transmission paths and then test the resulting differences. The main findings are as follows. First, an increase in energy prices significantly negatively affects carbon prices through economic fluctuation, investment demand, speculative demand, and transaction demand. Second, energy price fluctuations mainly affect carbon emission prices through economic fluctuations. The impacts of the remaining transmission paths are in the order of speculative demand, investment demand, and transaction demand. This paper provides theoretical and practical support for reasonably responding to energy price fluctuations and forming effective carbon prices to address climate change.
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Data Availability
The data that support the findings of this study are openly available in database(wind.com.cn ).
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This research is financially supported by the Humanities and Social Science Project from Ministry of Education of the People’s Republic China (No. 19YJC790017).
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Rui Wang: conceptualization, methodology, and formal analysis; Xinglin Zhao: Writing-Original Draft and investigation; Kerong Wu: methodology; Sha Peng: Writing-Review & Editing, Supervision; Si Cheng: Review & Editing.
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Wang, R., Zhao, X., Wu, K. et al. Examination of the transmission mechanism of energy prices influencing carbon prices: an analysis of mediating effects based on demand heterogeneity. Environ Sci Pollut Res 30, 59567–59578 (2023). https://doi.org/10.1007/s11356-023-26661-7
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DOI: https://doi.org/10.1007/s11356-023-26661-7