Bitcoin investments and climate change: A financial and carbon intensity perspective

被引：22
|
作者：
Baur, Dirk G. [1 ]
Oll, Josua [2 ]
机构：
[1] Univ Western Australia, Nedlands, WA, Australia
[2] Carl von Ossietzky Univ Oldenburg, Oldenburg, Germany
来源：
FINANCE RESEARCH LETTERS | 2022年 / 47卷
关键词：
Cryptocurrencies; Bitcoin; Carbon emissions; Climate change; Carbon intensity; Mean-variance analysis; ENERGY; DIVERSIFICATION;
D O I：
10.1016/j.frl.2021.102575
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Climate-related criticism of Bitcoin is primarily based on the network's absolute carbon emissions, without considering its market value. Taking a relative emission perspective and utilizing the mean-variance portfolio optimization framework, we study the financial and carbon-related implications of Bitcoin investments. The results of our in-sample analysis show that adding Bitcoin to a diversified equity portfolio can both enhance the risk-return relationship of the portfolio and reduce the portfolio's aggregate carbon emissions. This finding persists under various assumptions regarding Bitcoin prices, carbon emission estimates, and carbon prices.
引用
下载
收藏
页数：8
相关论文
共 50 条
  • [31] PUBLIC FINANCIAL INTERMEDIARIES AND CLIMATE CHANGE
    Plihon, Dominique
    Rigot, Sandra
    REVUE ECONOMIQUE, 2022, 73 (02): : 243 - 266
  • [32] FINANCIAL ANOMALIES OF CLIMATE CHANGE RESPONSIBILITY
    Lo, Shih-Fang
    Wu, Chou-Yen
    ACTUAL PROBLEMS OF ECONOMICS, 2012, (135): : 381 - 392
  • [33] Climate change performance and financial distress
    Alshahrani, Faisal
    Eulaiwi, Baban
    Duong, Lien
    Taylor, Grantley
    BUSINESS STRATEGY AND THE ENVIRONMENT, 2023, 32 (06) : 3249 - 3271
  • [34] Climate change risks and financial sector
    Zobaa, AF
    2005 IEEE POWER ENGINEERING SOCIETY GENERAL MEETING, VOLS, 1-3, 2005, : 2945 - 2950
  • [35] Climate change litigation as financial risk
    Solana, Javier
    GREEN FINANCE, 2020, 2 (04): : 344 - 372
  • [36] Climate change: geological perspective
    Paillard, Didier
    BIOFUTUR, 2009, (295) : 49 - 53
  • [37] A religious perspective on climate change
    Wolf, Jakob
    Gjerris, Mickey
    STUDIA THEOLOGICA-NORDIC JOURNAL OF THEOLOGY, 2009, 63 (02) : 119 - 139
  • [38] A genomic perspective on climate change
    Forzano, Francesca
    de Villiers, Chantal Babb
    Farley, Martin
    Fowler, Hayley
    Taylor, Robert W.
    EBIOMEDICINE, 2023, 98
  • [39] Climate cooperation with technology investments and border carbon adjustment
    Helm, Carsten
    Schmidt, Robert C.
    EUROPEAN ECONOMIC REVIEW, 2015, 75 : 112 - 130
  • [40] Climate-related financial risk assessment on energy infrastructure investments
    In, Soh Young
    Manav, Berk
    Venereau, Clothilde M. A.
    Cruz, R. Luis Enrique
    Weyant, John P.
    RENEWABLE & SUSTAINABLE ENERGY REVIEWS, 2022, 167
12345