Time-Frequency Connectedness Among Traditional/New Energy, Green Finance, and ESG in Pre- and Post-Russia-Ukraine War Periods

Abstract

HighlightsTotal connectedness among traditional/new energy, green finance, and ESG is significantly enhanced by the Russia-Ukraine war, from 19.36% to 29.99%.There is a closer correlation between new energy, ESG, and green stock.ESG, green stock, and new energy are basic information transmitters during the Russia-Ukraine war, functioning in the short- and long-term respectively.When the war occurred, the oil performed most prominently, and changed from the net transmitter to the net receiver.

Keywords: energy, green finance, ESG, Time-frequency, Russia-Ukraine war