Journal Articles

Permanent URI for this collectionhttps://mro.massey.ac.nz/handle/10179/7915

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    Dynamic carbon budgets and carbon debts for Aotearoa New Zealand and its building sector
    (Elsevier Ltd, 2026-01-01) Weerasinghe SN; McLaren SJ; Boulic M; Dowdell D; Chandrakumar C
    The remaining carbon budget (RCB) is a crucial parameter when setting climate budgets for nations and economic sectors that want to measure their progress in climate change mitigation. The Paris Agreement is the most widely used and accepted climate change mitigation target, and the global RCB specified by the Intergovernmental Panel for Climate Change (IPCC) provides the carbon budget remaining from the beginning of 2020 that can be emitted as CO2 before the Paris Agreement’s target is exceeded. This research investigates the global RCB allocation to the national and building sector level in Aotearoa New Zealand, including consideration of different sharing approaches and modelling of potential future dynamic parameters for the RCB allocation, that are required to stay below 1.5 °C warming between the years 2024 and 2050. The average national RCB ranges from 159 to 339 MtCO₂ from year 2024; based on an average annual emissions rate of 38 MtCO₂, it will be depleted in 4–8 years. Therefore, this study proposed a dynamic carbon debt framework that provides a more realistic representation of dynamic RCBs and the carbon debt over future years. Key findings include the urgency of timely interventions, the need for additional mitigation strategies beyond the current policy approach which is largely focused on increased plantation forestry, and the usefulness of time-disaggregated carbon budgeting to address exhaustion of the RCB. Overall, this study demonstrates the relevance of dynamic budgeting to guide effective climate policy at both the national and building sector levels.
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    The impact of climate policy on U.S. environmentally friendly firms: A firm-level examination of stock return, volatility, volume, and connectedness
    (Elsevier B V, 2023-03) Pham L; Hao W; Truong H; Trinh HH
    This paper investigates the green stock market reaction to climate policy events associated with the Paris Agreement and the U.S. presidential elections. We document abnormal returns, volatility and volume reactions to climate policy events among green stocks. However, the magnitude of the reactions varies between the tightening and loosening of climate policy and across subgroups of the green stock markets. Our connectedness analysis further investigates the spillover patterns among individual green stocks and confirms their heterogeneous natures when responding to the occurrence of these climate policy events. By constructing a minimum connectedness portfolio based on the estimated connectedness among these green stocks, we find that investors can substantially reduce their risks. Our findings have strong implications for policy makers in designing policies to effectively promote green investments and mitigate climate change.