Assessing the impact of renewable energy firms on ESG-related uncertainty: Evidence from Germany's low-carbon transition
再生可能エネルギー企業がESG関連不確実性に与える影響の評価：ドイツの低炭素移行からの証拠 (AI 翻訳)
Hind Alofaysan, Kamel Si Mohammed, Eman Alanzi, Riadh Benammar, Fatma Ahmed Hassan
🤖 gxceed AI 要約
日本語
本研究は、ドイツの再生可能エネルギー部門（太陽光、風力、再生可能燃料）の価格変動がESG関連不確実性指数（ESGUI-G）に与える影響を、ウェーブレット分位点-分位点回帰（WQQR）を用いて2008年6月から2025年まで分析した。短期では負の影響、中期・長期では正負の影響が混在し、風力発電株は不確実性と高い相関を示す一方、グリーン燃料やバイオエネルギー企業はヘッジ手段としての可能性が示唆された。
English
This study examines how fluctuations in Germany's renewable energy sector (solar, wind, renewable fuels) affect the ESG-Related Uncertainty Index (ESGUI-G) using wavelet quantile-on-quantile regression (WQQR) from June 2008 to 2025. Results show negative short-term effects, mixed medium- and long-term effects, with wind power equity highly correlated with uncertainty, while green fuels and bioenergy firms show hedging potential under normal conditions.
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
日本の再生可能エネルギー市場やESG投資家の動向に示唆を与える。特に、風力発電の不確実性増幅効果や、グリーン燃料のヘッジ特性は、日本のエネルギー転換政策や投資戦略に参考となる。
In the global GX context
This paper contributes to global understanding of how renewable energy markets interact with ESG-related uncertainty, offering insights for investors and policymakers in the context of low-carbon transitions. The wavelet quantile-on-quantile approach provides a nuanced view of short-, medium-, and long-term dynamics.
👥 読者別の含意
🔬研究者:Provides empirical evidence on renewable energy-ESG uncertainty dynamics using advanced econometric methods.
🏢実務担当者:Offers insights for portfolio diversification and hedging strategies involving renewable energy equities.
🏛政策担当者:Highlights the risk-amplifying role of wind power equity, informing energy transition policy design.
📄 Abstract（原文）
In light of the growing importance of sustainable finance and renewable energy markets, this study examines how fluctuations in Germany's renewable energy sector interact with sustainability-related uncertainty. Using the wavelet quantile-on-quantile regression approach (WQQR), it investigates the influence of renewable energy sector prices, including solar energy, wind energy, and renewable fuels, on the ESG-Related Uncertainty Index (ESGUI-G) in Germany over the period from June 2008 to 2025. In the short term, we found a negative effect of S92G, ECVG, VBKG, and NDXG on ESGUI-G, and no effect was observed by CE2G and PNE. In the medium term, ESGUI-G was positively affected by CE2G, ECVG, PNE, and VBKG, and negatively affected by NDXG and S92G. In the long term, the results indicate that ESGUI-G is positively (negatively) affected by CE2G (NDXG, S92G, and VBKG). Furthermore, we observed a mix of positive and negative effects of ECVG and PNE on ESGUI-G in different quantiles. The results indicate that wind power equity is highly correlated with sustainability uncertainty, amplifying risk under both normal and turbulent market conditions. In contrast, green fuels and bioenergy firms exhibit short-term stability at low quantiles, followed by consistently positive effects in the medium and long term at higher quantiles, suggesting their potential as effective hedging tools under normal conditions, though they may exacerbate uncertainty in extreme circumstances.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.1016/j.jenvman.2025.128215first seen 2026-05-14 21:56:00 · last seen 2026-07-08 04:52:43
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