Green investors have expressed concerns about the environment and sustainability due to the high energy consumption involved in cryptocurrency mining and transactions. This article investigates the safe haven characteristics of clean energy stock indexes in relation to three cryptocurrencies, taking into account their respective levels of “dirty” energy consumption from 16 May 2018 to 15 May 2023. The purpose is to determine whether the eventual increase in correlation resulting from the events of 2020 and 2022 leads to volatility spillovers between clean energy indexes and cryptocurrencies categorized as “dirty” due to their energy-intensive mining and transaction procedures. The level of integration between clean energy stock indexes and cryptocurrencies will be inferred by using Gregory and Hansen’s methodology. Furthermore, to assess the presence of a volatility spillover effect between clean energy stock indexes and “dirty-classified” cryptocurrencies, the t-test of the heteroscedasticity of two samples from Forbes and Rigobon will be employed. The empirical findings show that clean energy stock indexes may offer a viable safe haven for dirty energy cryptocurrencies. However, the precise associations differ depending on the cryptocurrency under examination. The implications of this study’s results are significant for investment strategies, and this knowledge can inform decision-making procedures and facilitate the adoption of sustainable investment practices. Investors and policy makers can gain a deeper understanding of the interplay between investments in renewable energy and the cryptocurrency market.

This study investigates the relationship between clean and dirty energy markets, specifically focusing on clean energy stock indexes and their potential as hedging assets and safe havens during periods of global economic uncertainty. The research analyzes five clean energy indexes and four dirty energy indexes from May 2018 to May 2023, considering events such as the global pandemic and the Russian invasion of Ukraine. The main objective is to examine the causal relationship among different stock indexes pertaining to dirty and clean energy by using the Granger causality test (VAR Granger Causality/Block Exogeneity Wald Test) to determine whether clean energy indexes can predict future prices of dirty energy indexes. However, the findings reveal that clean and dirty energy indexes do not exhibit hedging characteristics or serve as safe havens during times of economic uncertainty, rejecting the research question. These results have important implications for investment strategies, as assets lacking safe haven characteristics may not preserve portfolio efficiency in uncertain times. The study’s insights provide valuable guidance for investors, policymakers, and participants in energy financial markets. It highlights the need to adapt investment approaches and seek alternative options to navigate uncertain economic conditions effectively.

This study investigates the relationship between energy metals and precious metals to assess their suitability as safe haven assets in clean energy investment portfolios. This study aims to conduct an effect analysis of the events that occurred during the years 2020 and 2022, characterized by substantial investments in the field of clean energy. The analysed period encompasses the period from 13 July 2018 to 11 July 2023. The study is carried out in multiple stages with the aim of investigating a highly tumultuous period in the global economy. To assess long-term relationships, the econometric methodology proposed by Gregory and Hansen will be employed. The research shows a positive association between energy metals (excluding nickel futures) and clean energy indexes, suggesting their potential as secure investments for green investors diversifying their portfolios. Additionally, the study confirms the reliability of precious metals, such as gold, silver, and platinum as safe havens for clean energy stock indexes. These findings highlight the stability that both energy and precious metals can offer within clean energy portfolios during market volatility, emphasizing their value in such investment strategies. In brief, this study affirms that energy and precious metals are invaluable pillars in the structure of clean energy portfolios, offering unwavering support during market turbulence.

Green investors have expressed concerns about the environment and sustainability due to the high energy consumption involved in cryptocurrency mining and transactions. This article investigates the safe haven characteristics of clean energy stock indexes in relation to 3 cryptocurrencies, taking into account their respective levels of "dirty" energy consumption from May 16, 2018, to May 15, 2023. By virtue of analyzing a tumultuous era in the global economy, the level of integration between clean energy stock indexes and cryptocurrencies will be inferred by using Gregory and Hansen's methodology. Furthermore, to assess the presence of a volatility spillover effect between clean energy stock indexes and “dirty-classified” cryptocurrencies, the ?-test of heteroscedasticity of two samples from Forbes and Rigobon will be employed. The empirical findings show that clean energy stock indexes may offer a viable safe haven for dirty energy cryptocurrencies. However, the precise associations differ depending on the cryptocurrency under examination. The implications of the study's results are significant for investment strategies, this knowledge can inform decision-making procedures and facilitate the adoption of sustainable investment practices. Investors and policymakers can gain a deeper understanding of the interplay between investments in renewable energy and the cryptocurrency market.

AVALIAÇÃO E DIVULGAÇÃO DE INDICADORES DE DESEMPENHO DOS MUNICÍPIOS PORTUGUESES: O CASO DO DISTRITO DE SETÚBAL

This paper aims to assess the comovements between clean energy indices, namely the Clean Energy Fuels (CLNE), Nasdaq Clean Edge Green Energy (CELS), S&P Global Clean Energy (SPGTCLEN), TISDALE Clean Energy (TCEC.CN), Wilderhill (ECO), West Texas Intermediate (WTI) stock indices, over the period from 1 January 2018 to 23 November 2023. We used 10-day windows to analyse the duration and nature of the shocks. Granger causality tests revealed that 20 of the 30 possible pairs showed significant movements, with the WTI influencing all the clean energy indices, highlighting its global importance. CELS also showed a robust influence on all pairs, while SPGTCLEN had a significant but less far-reaching influence. The CLNE and ECO indices showed limited influences, suggesting the potential for diversification, the TCEC.CN proved to be independent and a determining factor for portfolio diversification. The Impulse Response Functions (IRF) confirmed significant movements between CELS, SPGTCLEN and WTI, reflecting the market's response to policies and adjustments in expectations. Fluctuations in oil prices substantially affect clean energy indices, highlighting the interconnectedness and volatility of these markets. In conclusion, these results indicate that despite the growth of clean energy, the sector is still influenced by fluctuations in the fossil fuel market.