Low-carbon Energy Companies' Systemic Risk and influential Factors in China

摘要

China is a big energy consumption country with unbalanced energy structure and inefficient energy conversion, so companies and investors begin to pay attention to low-carbon energy sector. This paper is to understand the risk characteristics of low-carbon energy companies. Firstly, it combed the influential factors and impact mechanism. Secondly, using econometric models and scenario analysis analyzed systemic risk and seven influential factors. And empirical result shows that macroeconomic indicators, such as fluctuations in international oil prices and business climate index have more significant impact to systemic risk than other factors. Finally, it provided useful suggestions for investors and policy makers.