Systemic risk spillovers between fossil and clean energy under climate risks: New evidence from a multi-moment connectedness network

Key Points

• Interconnections in the energy sector reveal significant systemic risk spillovers under climate risks, indicating crucial trends.
• A notable increase in connectedness was observed between fossil and clean energy sectors, suggesting heightened risk transfer.
• Observational analysis utilized a multi-moment connectedness network across various energy markets to identify spillover trends.
• This analysis highlights the interconnectedness of energy sources, calling for integrated risk management strategies.