イノベーションと投資の架け橋：パリ協定が米国上場のグリーン・ブラウンエネルギー株に与えた影響
Bridging innovation and investment: the Paris Agreement’s effect on green and brown US-listed energy stocks (原題)
Jose Barrales-Ruiz, Pablo Neudörfer
🤖 gxceed AI 要約
日本語
本研究は、2005年から2020年の米国上場エネルギー企業ETFを用いて、グリーン特許の経済的価値がブラウン（化石燃料）とグリーン（再生可能）企業の相対的株式評価に与える影響を分析。パリ協定後、高価値グリーン特許がブラウンからグリーンへの評価シフトを促進し、政策の信頼性と技術革新の重要性を示した。
English
This study analyzes the impact of green patents on the relative equity valuations of brown and green energy companies using US-listed energy ETFs from 2005 to 2020. It finds that after the Paris Agreement, increases in the economic value of green patents spurred a shift in valuations from brown to green firms, highlighting the role of policy credibility and high-value innovation in energy transitions.
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
日本のGX実務では、SSBJ開示やトランジション戦略の策定が進む中、政策の信頼性が市場評価に与える影響を示す本研究成果は、日本企業のGX投資判断やIR戦略に示唆を与える。特に、グリーン特許の経済的価値が株式市場で評価されるメカニズムは、日本企業の技術開発と開示の連携に参考になる。
In the global GX context
This paper contributes to global climate finance scholarship by demonstrating that the Paris Agreement enhanced the responsiveness of US financial markets to green innovation, leading to revaluation of green vs. brown energy stocks. It underscores the importance of policy credibility and high-value patents for transition finance, relevant for ISSB-aligned disclosure and transition planning.
👥 読者別の含意
🔬研究者:Provides empirical evidence on how policy events (Paris Agreement) moderate the market impact of green innovation, useful for climate finance and innovation research.
🏢実務担当者:Highlights the financial materiality of green patents and transition risk, informing corporate innovation and disclosure strategies.
🏛政策担当者:Shows that credible climate policy can amplify the financial benefits of green innovation, supporting policy design for energy transition.
📄 Abstract（原文）
This study explores the impact of green innovation on differential financial market repricing between fossil-fuel (brown) and renewable (green) energy production companies. Focusing on a period marked by low green patent activity, this paper implements local projection methods to examine the impact of green patents on exchange-traded funds (ETFs) for energy companies from 2005 to 2020. Using an economically meaningful innovation index to measure the quality of patents, the analysis shows that increases in the economic value of green patents spurred an aggregate shift in relative equity valuations from brown to green energy companies only after the Paris Agreement. This finding emphasizes the relevance of policy credibility and high-value technical breakthroughs in energy transitions and has important implications for climate policies and green energy market financial revaluation. The Paris Agreement made US financial markets more responsive to green innovation, triggering significant revaluation shifts in favour of renewables over fossil fuels.Green patent breakthroughs steadily increase the value of green energy stocks, highlighting the need to accelerate the adoption of new technologies.Fossil-fuel energy assets lose value quickly after economically relevant green innovations are adopted, underscoring the importance of managing transition risks. The Paris Agreement made US financial markets more responsive to green innovation, triggering significant revaluation shifts in favour of renewables over fossil fuels. Green patent breakthroughs steadily increase the value of green energy stocks, highlighting the need to accelerate the adoption of new technologies. Fossil-fuel energy assets lose value quickly after economically relevant green innovations are adopted, underscoring the importance of managing transition risks.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.6084/m9.figshare.33172884first seen 2026-08-27 04:56:14 · last seen 2026-08-28 04:32:24
🔔 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。