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Influence on Carbon Emission Price in Europe

In: Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

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  • Danning Zhao

    (University of Manchester, School of Social Science)

Abstract

To achieve carbon neutralization, a carbon price is applied to encourage reducing carbon emissions and pollution. Yet the existing literature rarely considers the influence of investors’ attitudes, exchange rate, and day-of-the-week effects on carbon emission prices. This paper investigated the impacts of the mentioned influences using a regression model from January 2020 to January 2022. We employed the CBOE VIX index as a measurement for investors’ attitudes and sourced the price of EUA MO1 to represent the carbon emission price. Also, we analyzed the daily ratio of Euro to US Dollars as the impact of interest rate. We find that investors’ attitude and the exchange rate has a positive relation to carbon emission prices, whereas day-of-week effects have a significantly negative impact on carbon emission prices.

Suggested Citation

  • Danning Zhao, 2022. "Influence on Carbon Emission Price in Europe," Advances in Economics, Business and Management Research, in: Faruk Balli & Au Yong Hui Nee & Sikandar Ali Qalati (ed.), Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), pages 720-726, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_82
    DOI: 10.2991/978-94-6463-052-7_82
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