IDEAS home Printed from https://ideas.repec.org/a/gam/jmathe/v10y2022i14p2532-d867938.html
   My bibliography  Save this article

Opinion Mining of Green Energy Sentiment: A Russia-Ukraine Conflict Analysis

Author

Listed:
  • Raquel Ibar-Alonso

    (Department of Applied Economics I, Universidad Rey Juan Carlos, Paseo de los Artilleros s/n, 28032 Madrid, Spain)

  • Raquel Quiroga-García

    (Departament of Quantitative Economics, Universidad de Oviedo, Avda. del Cristo s/n, 33006 Oviedo, Spain)

  • Mar Arenas-Parra

    (Departament of Quantitative Economics, Universidad de Oviedo, Avda. del Cristo s/n, 33006 Oviedo, Spain)

Abstract

In this paper, we assess sentiment and emotion regarding green energy through employing a social listening analysis on Twitter. Knowing the sentiment and attitude of the population is important because it will help to promote policies and actions that favor the development of green or renewable energies. We chose to study a crucial period that coincides with the onset of the 2022 Ukrainian–Russo conflict, which has undoubtedly affected global energy policies worldwide. We searched for messages containing the term “green energy” during the days before and after the conflict started. We then performed a semantic analysis of the most frequent words, a comparative analysis of sentiments and emotions in both periods, a dimensionality reduction analysis, and an analysis of the variance of tweets versus retweets. The results of the analysis show that the conflict has changed society’s sentiments about an energy transition to green energy. In addition, we found that negative feelings and emotions emerged in green energy tweeters once the conflict started. However, the emotion of confidence also increased as the conflict, intimately linked to energy, has driven all countries to promote a rapid transition to greener energy sources. Finally, we observed that of the two latent variables identified for social opinion, one of them, pessimism, was maintained while the other, optimism, was subdivided into optimism and expectation.

Suggested Citation

  • Raquel Ibar-Alonso & Raquel Quiroga-García & Mar Arenas-Parra, 2022. "Opinion Mining of Green Energy Sentiment: A Russia-Ukraine Conflict Analysis," Mathematics, MDPI, vol. 10(14), pages 1-22, July.
    • Handle: RePEc:gam:jmathe:v:10:y:2022:i:14:p:2532-:d:867938
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7390/10/14/2532/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7390/10/14/2532/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Boungou, Whelsy & Yatié, Alhonita, 2022. "The impact of the Ukraine–Russia war on world stock market returns," Economics Letters, Elsevier, vol. 215(C).
    2. Ester Muñoz-Céspedes & Raquel Ibar-Alonso & Sara de Lorenzo Ros, 2021. "Financial Literacy and Sustainable Consumer Behavior," Sustainability, MDPI, vol. 13(16), pages 1-21, August.
    3. María Teresa Ballestar & Miguel Cuerdo-Mir & María Teresa Freire-Rubio, 2020. "The Concept of Sustainability on Social Media: A Social Listening Approach," Sustainability, MDPI, vol. 12(5), pages 1-19, March.
    4. Martin Nerlinger & Sebastian Utz, 2022. "The impact of the Russia-Ukraine conflict on the green energy transition – A capital market perspective," Swiss Finance Institute Research Paper Series 22-49, Swiss Finance Institute.
    5. Büyüközkan, Gülçin & Karabulut, Yağmur & Mukul, Esin, 2018. "A novel renewable energy selection model for United Nations' sustainable development goals," Energy, Elsevier, vol. 165(PA), pages 290-302.
    6. Luis Miguel Fonseca & José Pedro Domingues & Alina Mihaela Dima, 2020. "Mapping the Sustainable Development Goals Relationships," Sustainability, MDPI, vol. 12(8), pages 1-15, April.
    7. So-Yun Jeong & Jae-Wook Kim & Han-Young Joo & Young-Seo Kim & Joo-Hyun Moon, 2021. "Development and Application of a Big Data Analysis-Based Procedure to Identify Concerns about Renewable Energy," Energies, MDPI, vol. 14(16), pages 1-13, August.
    8. Serena Y. Kim & Koushik Ganesan & Princess Dickens & Soumya Panda, 2021. "Public Sentiment toward Solar Energy—Opinion Mining of Twitter Using a Transformer-Based Language Model," Sustainability, MDPI, vol. 13(5), pages 1-19, March.
    9. Loureiro, Maria L. & Alló, Maria, 2020. "Sensing climate change and energy issues: Sentiment and emotion analysis with social media in the U.K. and Spain," Energy Policy, Elsevier, vol. 143(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Xin, Baogui & Zhang, Mengwei, 2023. "Evolutionary game on international energy trade under the Russia-Ukraine conflict," Energy Economics, Elsevier, vol. 125(C).
    2. Olajide O. Oyadeyi & Sodiq Arogundade & Mduduzi Biyase, 2024. "How did African stock markets react to the Russia-Ukraine crisis “black-swan” event? Empirical insights from event study," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-13, December.
    3. Myriam Caratù & Valerio Brescia & Ilaria Pigliautile & Paolo Biancone, 2023. "Assessing Energy Communities’ Awareness on Social Media with a Content and Sentiment Analysis," Sustainability, MDPI, vol. 15(8), pages 1-28, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chenghao Yang & Tongtong Liu, 2022. "Social Media Data in Urban Design and Landscape Research: A Comprehensive Literature Review," Land, MDPI, vol. 11(10), pages 1-22, October.
    2. Patel, Ritesh & Kumar, Sanjeev & Bouri, Elie & Iqbal, Najaf, 2023. "Spillovers between green and dirty cryptocurrencies and socially responsible investments around the war in Ukraine," International Review of Economics & Finance, Elsevier, vol. 87(C), pages 143-162.
    3. Silva, Thiago Christiano & Wilhelm, Paulo Victor Berri & Tabak, Benjamin Miranda, 2023. "Trade matters except to war neighbors: The international stock market reaction to 2022 Russia’s invasion of Ukraine," Research in International Business and Finance, Elsevier, vol. 65(C).
    4. Piotr F. Borowski, 2022. "Mitigating Climate Change and the Development of Green Energy versus a Return to Fossil Fuels Due to the Energy Crisis in 2022," Energies, MDPI, vol. 15(24), pages 1-16, December.
    5. Balsalobre-Lorente, Daniel & Sinha, Avik & Murshed, Muntasir, 2023. "Russia-Ukraine conflict sentiments and energy market returns in G7 countries: Discovering the unexplored dynamics," Energy Economics, Elsevier, vol. 125(C).
    6. Wu, Feng-lin & Zhan, Xu-dong & Zhou, Jia-qi & Wang, Ming-hui, 2023. "Stock market volatility and Russia–Ukraine conflict," Finance Research Letters, Elsevier, vol. 55(PA).
    7. So-Yun Jeong & Jae-Wook Kim & Han-Young Joo & Young-Seo Kim & Joo-Hyun Moon, 2021. "Development and Application of a Big Data Analysis-Based Procedure to Identify Concerns about Renewable Energy," Energies, MDPI, vol. 14(16), pages 1-13, August.
    8. Gaio, Luiz Eduardo & Stefanelli, Nelson Oliveira & Pimenta, Tabajara & Bonacim, Carlos Alberto Grespan & Gatsios, Rafael Confetti, 2022. "The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market," Finance Research Letters, Elsevier, vol. 50(C).
    9. Jana S. Kesenheimer & Tobias Greitemeyer, 2021. "Going Green (and Not Being Just More Pro-Social): Do Attitude and Personality Specifically Influence Pro-Environmental Behavior?," Sustainability, MDPI, vol. 13(6), pages 1-12, March.
    10. Dinko Vusić & Filip Vujanić & Karlo Pešić & Branimir Šafran & Vanja Jurišić & Željko Zečić, 2021. "Variability of Normative Properties of Wood Chips and Implications to Quality Control," Energies, MDPI, vol. 14(13), pages 1-16, June.
    11. Ferriani, Fabrizio & Gazzani, Andrea, 2023. "The impact of the war in Ukraine on energy prices: Consequences for firms’ financial performance," International Economics, Elsevier, vol. 174(C), pages 221-230.
    12. Jungmin An & Dong-Kwan Kim & Jinyeong Lee & Sung-Kwan Joo, 2021. "Least Squares Monte Carlo Simulation-Based Decision-Making Method for Photovoltaic Investment in Korea," Sustainability, MDPI, vol. 13(19), pages 1-14, September.
    13. Wirapong Chansanam & Chunqiu Li, 2022. "Scientometrics of Poverty Research for Sustainability Development: Trend Analysis of the 1964–2022 Data through Scopus," Sustainability, MDPI, vol. 14(9), pages 1-19, April.
    14. Iribarren, Diego & Martín-Gamboa, Mario & Navas-Anguita, Zaira & García-Gusano, Diego & Dufour, Javier, 2020. "Influence of climate change externalities on the sustainability-oriented prioritisation of prospective energy scenarios," Energy, Elsevier, vol. 196(C).
    15. Gonzalo Wandosell & María C. Parra-Meroño & Alfredo Alcayde & Raúl Baños, 2021. "Green Packaging from Consumer and Business Perspectives," Sustainability, MDPI, vol. 13(3), pages 1-19, January.
    16. Umar, Muhammad & Riaz, Yasir & Yousaf, Imran, 2022. "Impact of Russian-Ukraine war on clean energy, conventional energy, and metal markets: Evidence from event study approach," Resources Policy, Elsevier, vol. 79(C).
    17. Linda Hancock & Linda Wollersheim, 2021. "EU Carbon Diplomacy: Assessing Hydrogen Security and Policy Impact in Australia and Germany," Energies, MDPI, vol. 14(23), pages 1-27, December.
    18. Mohamed Gouraizim & Abdelhadi Makan & Hossain Ouarghi, 2023. "A CAR-PROMETHEE-based multi-criteria decision-making framework for sustainability assessment of renewable energy technologies in Morocco," Operations Management Research, Springer, vol. 16(3), pages 1343-1358, September.
    19. Luis Fonseca & Vitor Silva & José Carlos Sá & Vanda Lima & Gilberto Santos & Rui Silva, 2022. "B Corp versus ISO 9001 and 14001 certifications: Aligned, or alternative paths, towards sustainable development?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(3), pages 496-508, May.
    20. Lingyan Meng & Md Qamruzzaman & Anass Hamad Elneel Adow, 2021. "Technological Adaption and Open Innovation in SMEs: An Strategic Assessment for Women-Owned SMEs Sustainability in Bangladesh," Sustainability, MDPI, vol. 13(5), pages 1-22, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jmathe:v:10:y:2022:i:14:p:2532-:d:867938. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.