炭素排出量取引価格と海運市場間の情報スピルオーバー：時間周波数分析

日本語

炭素排出量取引価格と海運市場の間で情報がどのように波及するかを、時間周波数分析の手法で検証した研究。EU-ETSや中国全国炭素市場など排出量取引制度の価格変動が、海運運賃・市況に与える影響の方向性とタイムラグを明らかにする。海運の脱炭素コストが運賃へ転嫁される経路を定量的に示す点が実務的に重要。

English

This study applies time-frequency analysis to examine information spillovers between carbon emissions trading prices and shipping markets. It identifies the direction and timing of how carbon price movements under schemes like the EU-ETS transmit into freight rates and shipping market conditions. The findings quantify how decarbonization costs in shipping pass through to freight, with practical implications for carbon cost management.

日本のGX文脈において

日本は2026年度からのGX-ETS本格稼働と海運の国際競争力維持が課題。炭素価格が海運運賃に波及する経路の理解は、荷主企業のScope 3算定や調達コスト見通し、海運各社の投資判断に直結する。

In the global GX context

As shipping is folded into the EU-ETS and IMO carbon pricing advances, understanding carbon-price-to-freight transmission is central to transition finance and Scope 3 accounting for global supply chains. This adds empirical evidence on how carbon markets reshape transport costs.