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Monetary policy shocks and sectoral heterogeneity in clean energy markets

Jacoub Sleibi Orcid Logo

Journal of Environmental Management, Volume: 395, Start page: 127868

Swansea University Author: Jacoub Sleibi Orcid Logo

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DOI (Published version): 10.1016/j.jenvman.2025.127868

Abstract

Clean energy transitions are central to achieving global sustainability goals, yet their progress depends partly on how macroeconomic forces shape green financial markets. This paper investigates the impact of US monetary policy shocks on nineteen clean energy stock indices from 2010 to 2023. Using...

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Published in: Journal of Environmental Management
ISSN: 0301-4797 1095-8630
Published: Elsevier BV 2025
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URI: https://cronfa.swan.ac.uk/Record/cronfa70833
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last_indexed 2025-11-07T05:10:41Z
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spelling 2025-11-05T14:38:57.2578252 v2 70833 2025-11-04 Monetary policy shocks and sectoral heterogeneity in clean energy markets 59755f493d2aca906d69e0011e426b2a 0000-0002-5109-8752 Jacoub Sleibi Jacoub Sleibi true false 2025-11-04 CBAE Clean energy transitions are central to achieving global sustainability goals, yet their progress depends partly on how macroeconomic forces shape green financial markets. This paper investigates the impact of US monetary policy shocks on nineteen clean energy stock indices from 2010 to 2023. Using panel factor models and structural Bayesian VARs, we identify a significant common factor that explains up to 60% of the sectoral variation. However, sectoral responses are heterogeneous: energy storage, green IT, and wind stocks react positively, while smart grid, green building, and transportation stocks respond negatively to monetary policy shocks. These results indicate that monetary policy can shift resources toward specific clean energy sectors but also reveal the vulnerability of other sectors to financial conditions, creating potential barriers to achieving environmental objectives. Journal Article Journal of Environmental Management 395 127868 Elsevier BV 0301-4797 1095-8630 Clean energy stocks; Monetary policy; Common factors; Renewable energy 1 12 2025 2025-12-01 10.1016/j.jenvman.2025.127868 COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University SU Library paid the OA fee (TA Institutional Deal) Swansea University 2025-11-05T14:38:57.2578252 2025-11-04T14:35:27.2096050 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Jacoub Sleibi 0000-0002-5109-8752 1 70833__35552__f1bd0ffb583642fcbc1bf4039f91a9e2.pdf 70833.VOR.pdf 2025-11-04T14:39:28.9301215 Output 1295069 application/pdf Version of Record true © 2025 The Author. This is an open access article distributed under the terms of the Creative Commons CC-BY license. true eng http://creativecommons.org/licenses/by/4.0/
title Monetary policy shocks and sectoral heterogeneity in clean energy markets
spellingShingle Monetary policy shocks and sectoral heterogeneity in clean energy markets
Jacoub Sleibi
title_short Monetary policy shocks and sectoral heterogeneity in clean energy markets
title_full Monetary policy shocks and sectoral heterogeneity in clean energy markets
title_fullStr Monetary policy shocks and sectoral heterogeneity in clean energy markets
title_full_unstemmed Monetary policy shocks and sectoral heterogeneity in clean energy markets
title_sort Monetary policy shocks and sectoral heterogeneity in clean energy markets
author_id_str_mv 59755f493d2aca906d69e0011e426b2a
author_id_fullname_str_mv 59755f493d2aca906d69e0011e426b2a_***_Jacoub Sleibi
author Jacoub Sleibi
author2 Jacoub Sleibi
format Journal article
container_title Journal of Environmental Management
container_volume 395
container_start_page 127868
publishDate 2025
institution Swansea University
issn 0301-4797
1095-8630
doi_str_mv 10.1016/j.jenvman.2025.127868
publisher Elsevier BV
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
document_store_str 1
active_str 0
description Clean energy transitions are central to achieving global sustainability goals, yet their progress depends partly on how macroeconomic forces shape green financial markets. This paper investigates the impact of US monetary policy shocks on nineteen clean energy stock indices from 2010 to 2023. Using panel factor models and structural Bayesian VARs, we identify a significant common factor that explains up to 60% of the sectoral variation. However, sectoral responses are heterogeneous: energy storage, green IT, and wind stocks react positively, while smart grid, green building, and transportation stocks respond negatively to monetary policy shocks. These results indicate that monetary policy can shift resources toward specific clean energy sectors but also reveal the vulnerability of other sectors to financial conditions, creating potential barriers to achieving environmental objectives.
published_date 2025-12-01T05:30:36Z
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score 11.089572

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