The Impact of Industry on European Union Emissions Trading Market—From Network Perspective

Jiqiang Wang, Yinpeng Liu, Ying Fan and Jianfeng Guo
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Jiqiang Wang: College of Management and Economics, Tianjin University, Tianjin 300072, China
Yinpeng Liu: Institutes of Science and Development, Chinese Academy of Sciences, Beijing 100190, China
Ying Fan: School of Economics & Management, Beihang University, Beijing 100191, China
Jianfeng Guo: Institutes of Science and Development, Chinese Academy of Sciences, Beijing 100190, China

Energies, 2020, vol. 13, issue 21, 1-16

Abstract: This study pioneers to investigate the impact of industry on the European Union carbon trading market based on network perspective. All the accounts in the European Union Emissions Trading System (EU ETS) are summarized at the industry level, and then the trading relationship between industries is constructed in the network layout. Based on this network, the centrality of each industry is measured—the industries of electricity, gas, steam and air conditioning supply (EGSAS), bank, broker, exchange, and wholesale trade excluding motor vehicles and motorcycles (WTEM) have higher centrality. Finally, the impact of industry on the evolution of networks is analyzed, Findings show that the financial intermediaries play important roles at the beginning of each phase, while their influences on the network will decrease as the market goes on. On the contrary, influences of some other industries like WTEM are gradually increasing.

Keywords: EU ETS; industry; trading; network (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
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