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In 2020, China proposed the goal of achieving carbon emission peaks by 2030 and carbon neutrality by 2060. For China, whose energy consumption structure has long been dominated by fossil energy, carbon trading and new energy are crucial for the realization of the emission target. By establishing a connectedness network model, this paper studies the static and dynamic spillovers between the Hubei carbon trading market, new energy stock market, crude oil market, coal market, and natural gas market in China, and draws the following conclusions: (1) the static spillover index of the carbon–energy–stock system is 3.57% and the dynamic spillover index fluctuates between 7.67% and 22.62%, indicating that the spillover effect of the system is low; (2) for the whole system, whether from a static or dynamic perspective, the carbon market always plays the role of net information receiver, while new energy is the net information transmitter; (3) the new energy stock market and the coal market always act as net information transmitters to the carbon market; and (4) the spillover effect of the system is asymmetric, wherein the system is more sensitive to negative information about price returns, and this asymmetry is much greater when the system is active.

This study uses two empirical approaches to explore the asymmetric effects of oil and coal prices on renewable energy consumption (REC) in China from 1970 to 2019. As a conventional approach, we used the nonlinear autoregressive distributed lags (NARDL) model, while machine learning was used as a non-conventional approach. The empirical findings of the NARDL indicate that oil and coal price fluctuations have a significant effect on REC for both the short and long term. The results of the non-conventional approaches based on machine learning indicated that the SVM model was more efficient than the KNN model in terms of accuracy, performance, and convergence. Referring to the SVM model findings, the results show that an increase in the coal price has a higher ability to predict REC than the oil price. As a robustness check, we also find that an increase in Brent prices significantly decreases REC. The findings of this study support the view that there is a substitution effect from oil to coal before initiating the use of renewable energy in China.

This paper aims to examine whether there is inherent dynamic connectedness among coal market prices, new energy stock prices and carbon emission trading (CET) prices in China under time- and frequency-varying perspectives. For this purpose, we apply a novel wavelet method proposed by Aguiar-Conraria et al. (2018). Specifically, utilizing the single wavelet power spectrum, the multiple wavelet coherency, the partial wavelet coherency, also combined with the partial phase difference and the partial wavelet gains, this paper discovers the time-frequency interaction between three markets. The empirical results show that the connectedness between the CET market price and the coal price is frequency-varying and mainly occur in the lower and higher frequency bands, while the connectedness between the CET market price and the new energy stock price mainly happen in the middle and lower frequency bands. In the high-frequency domain, the CET market price is mainly affected by the coal price, while the CET market price is dominated by the new energy stock price in the middle frequency. These uncovered frequency-varying characteristics among these markets in this study could provide several implications. Main participants in these markets, such as polluting industries, governments and financial actors, should pay close attention to the connectedness under different frequencies, in order to realize their goal of the production, the policymaking, and the investment.

As the world’s largest coal consumer, China’s coal consumption in 2021 was 2934.4 million tons of standard coal. Thermal coal occupies an important position in the coal market and industry system, as an important raw material in the power industry, steel industry and other industries. The price of thermal coal in 2021 was at its highest level in a decade, and reached a historical level of about 2587.5 yuan per ton in October 2021. In the same month, the government intervened in the thermal coal price, which fell 51.9% by the end of the year under the influence of the policy. In previous studies, there has been little research on thermal coal and the impact of the variable “policy” on the thermal coal price. Thus, this paper analyzed the factors that affect the price fluctuation of thermal coal, and the impact of economic policy uncertainty on the thermal coal price. The cointegration test and forecast-error variance decomposition (FEVD) are adopted in this study. Our results show that the impact of policy uncertainty on the thermal coal price gradually increases over time, but the impact of policy uncertainty on price is negative and not as strong as expected. On the contrary, inventory and other energy prices have a greater positive impact on the price of thermal coal. The results of this study are of significance for the prediction of thermal coal prices in the future.

The study examines the influence of certain industrial factors, namely the reference price for Indonesian coal (HBA), and internal factors, namely; debt to equity ratio (DER), growth, current asset (CR), and company size (size) to profitability (ROA) of coal companies Indonesia during 2015-2019. The study population was all coal companies listed on the IDX before 2015. By using a purposive sampling technique, 13 companies were obtained. The research variable data was estimated using the Panel data method. The results show that DER adversely affects ROA, and company growth is in line with the increase in ROA. HBA and CR variables do not affect ROA. The implication of the research results is to increase profitability, the company to increase sales through business diversification other than coal products, and reduce the total debt held so that it does not become a heavy payment burden.

This study investigates the influence of gas price, crude oil price and international coal demand on coal sales volume, coal selling price, coal sales revenue, financial performance, business risk and stock price Indonesia coal mining is listed on Indonesia Stock Exchange (IDX). The sample is Indonesia coal mining companies listed on IDX in the period 2014 – 2018. This study employs a structural equation model using GeSCA software to examine the relationship and effect between research variables. The empirical result shows that Crude Oil Price has a significant positive effect on Gas Price and International Coal Demand, bidirectionally. Gas Price has a significant negative effect on International Coal Demand, bidirectionally. International Coal Demand has no significant positive effect on Coal Selling Price and Sales Volume. Coal Selling Price has not a significant positive effect on Sales Volume. Production Cost has a significant positive effect on Coal Selling Price. Coal Selling Price and Sales Volume have a significant positive effect on Sales Revenue. Coal Sales Revenue has a significant negative effect on Enterprise Risk. The originality of this study investigates a relationship between International Coal Demand, Coal Selling Price and Coal Sales Volume which has never been done in previous research.

Coal plays an important role in China's economic and income growth. This paper uses provincial panel data from 2007 to 2022 in China and employs the panel ARDL model to explore the impact of coal prices on regional and urban-rural income inequality in China based on information of coal price shocks. Empirical results show that: (1) Coal price shocks have a significant long-term effect on income inequality in coal exporting provinces, but have no significant effect on importing provinces. (2) This impact is asymmetric, indicating that the decrease in coal prices has to a greater extent damaged income equality in coal exporting provinces. (3) Coal price shocks have a significant effect on urban-rural income inequality, supporting the energy ladder theory of urban-rural disparity in China. Overall, this research provides an energy perspective for China to improve income inequality issues. Stable coal prices and orderly energy transition have important practical significance for coal exporting provinces and rural areas in China.

For decades, coal has served as the dominant component of China’s energy mix. Understanding the mechanisms through which coal prices variations affect China's economy and financial markets is of considerable importance. This study analyzes the influence of coal prices on company performance using a dataset comprising 33,877 annual observations from 4,491 publicly traded enterprises in China’s A-share market covering the period 2014 to 2023. It further investigates how ESG (environmental, social, and governance) initiatives shape this linkage. The findings reveal that coal price fluctuations exert a significantly adverse effect on corporate performance, particularly in the overall market and energy-related sectors. In contrast, non-energy industries, which are less reliant on coal, exhibit lower sensitivity to coal price changes. Furthermore, ESG performance significantly amplifies the negative impact of coal price fluctuations on company performance. A plausible explanation is that firms with superior ESG credentials allocate greater resources to environmental and social initiatives, further increasing their cost burden. The results provide novel insights on the evolving relationship among energy price volatility, corporate performance, and ESG strategies, emphasizing the obstacles firms encounter in aligning financial objectives with sustainability targets in a coal-centric energy environment.

India has 150GW of renewable energy potential, about half in the form of small hydropower, biomass, and wind and half in solar, cogeneration, and waste-to-energy. Developing renewable energy can help India increase its energy security, reduce the adverse impacts on the local environment, lower its carbon intensity, contribute to more balanced regional development, and realize its aspirations for leadership in high-technology industries. This study aims to answers critical questions on why renewable energy development is relevant in Indian context, on how much development is economically feasible, and on what needs to be done to realize the potential. The Report is based on data from nearly 180 wind, biomass, and small hydropower projects in 20 states, as well as information from the Ministry of New and Renewable Energy (MNRE) and the Central Electricity Regulatory Commission (CERC).The Report suggests that about 3GW of renewable energy ? all from small hydropower is conomically feasible, when the avoided cost of coal-based generation of Rs 3.08/kWh is considered. About 59GW of renewable energy in wind, biomass, and small hydropower is available at less than Rs 5/kWh. The entire cumulative capacity of 68GW in these three technologies can be harnessed at less than Rs 6/kWh. About 62GW?90 percent of cumulative renewable capacity in wind, biomass, and small hydropower?is economically feasible when the environmental premiums on coal are brought into consideration. Realizing the need to bridge this gap, the government has set an ambitious target of installing at least 40GW of additional capacity of renewables in the next 10 years. India has made tremendous strides in establishing overarching policy framework and institutions to bring renewable in the mainstream of energy mix, but significant financial, infrastructure and regulatory barriers to renewable energy development remain which the report sheds light on and suggests possible solutions.

The two categories of metallurgical coal are coal for coking and pulverized coal for injection in blast furnaces. The most significant characteristics of coking coal are those determined by technical analysis (yield of volatiles, ash content, etc.) and the metallurgical properties determining the quality of blast furnace coke. For pulverized coal, the important parameters are those determined by technical analysis, the calorific value, and the grinding index. Demand for metallurgical coal depends on the output of pig iron, which, in turn, depends on regional characteristics. Even in the era of the green agenda, metallurgical coal retains its benefits. Increase in the supply of metallurgical coal may be expected to continue until 2030. Most such coal comes from Australia, Russia, and Mongolia. In Russia, several large coal projects are underway (ELSI, Kolmar, Severnaya Zvezda). The goal is to export the coal, especially to Asia. Russian exports will increase by 20 million t per year in the near future, according to the authors’ predictions. Global coal prices depend on production costs, which are at historically high levels. If global prices fall, the market will respond speedily, as high-cost suppliers are driven from the market, restricting supply, and global prices rise again.