Geopolitical, Economic, and Climate Risks in the Water-Energy-Food Nexus: A Quantile Connectedness Perspective
水・エネルギー・食料連関における地政学的・経済的・気候リスク：分位連結性の視点から (AI 翻訳)
Wenzhuo Shao, Qiwen Wu
🤖 gxceed AI 要約
日本語
本研究は、水・エネルギー・食料（WEF）連関における価格リスクの伝達を、分位ベースの時間周波数連結性手法を用いて分析。通常市場では連関は小さいが、極端な市場条件下では増大し、短期的に顕著となる。米国の気候政策や不確実な経済政策は連関を強める一方、地政学リスクは弱める。投資家は短期的に転換気候リスクを物理的リスクより重視する。
English
This study examines price risk transmissions in the water-energy-food (WEF) nexus using a quantile-based time-frequency connectedness approach. The nexus is small under normal conditions but increases significantly under extreme market conditions, especially in the short term. US climate policy and economic uncertainty strengthen the nexus, while geopolitical risk weakens it. Investors focus more on transition climate risks than physical risks in the short run.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本ではSSBJ対応やTCFD開示が進む中、気候リスクの金融市場への波及経路を理解する上で参考になる。特に、サプライチェーン全体でのリスク評価やポートフォリオの気候変動耐性強化に示唆を与える。
In the global GX context
This paper contributes to global climate risk scholarship by quantifying how transition and physical climate risks transmit across the water-energy-food nexus. It informs TCFD/ISSB-aligned risk assessment and portfolio climate resilience, especially under extreme market conditions.
👥 読者別の含意
🔬研究者:Provides a novel quantile connectedness framework for studying climate risk transmission across resource markets, relevant for financial econometrics and climate finance research.
🏢実務担当者:Offers insights for portfolio construction and risk management, highlighting the importance of transition risks over physical risks in the near term.
🏛政策担当者:Suggests that climate policy uncertainty amplifies cross-market risk transmission, informing regulatory design for financial stability.
📄 Abstract（原文）
The relationship between water, energy and food (WEF) has been recognized as an essential component that may affect the objectives of sustainable development. This research examines the price risk transfers within the energy, water, and agriculture sectors in an effort to further our economic comprehension of the World Economic Forum nexus. We also examine the important effects of transition and physical risks related to climate change on transmission patterns. We present an investigation using a quantile connectedness strategy in the timeframe-frequency domain, which takes into consideration both extreme and regular market situations, as well as long and short time periods. It is shown that under regular market conditions, the water, energy and food security nexus is rather small, but under extreme market conditions, it increases significantly. When comparing the short-term and long-term horizons, the nexus is more obvious in the shorter term. The WEF nexus has usually been increased by the United State climate policy and uncertain economic policies, while it has been reduced by geopolitical risk and the United States term spread among the components examined. After conducting a thorough analysis of the effects of climate risks, we conclude that, under normal market conditions, investors are more concerned with transition climate risks than they are with physical climate risks in the short term. The timefrequency quantile connectedness of geopolitical, economic, and climate risks in the waterenergyfood nexus. Investors consider transitional and physical risks together over the long run, but only in very specific market conditions. Our investigation of the economic consequences adds validity to the concept that when building investment portfolios, consumers are more concerned with transition climate risks than physical risks.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1142/s2010007826400075first seen 2026-06-11 05:02:20 · last seen 2026-06-16 04:40:45
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。