Akademik Veri Yönetim Sistemi
Climate Risk and Emerging Markets: Valuation, Volatility, and Portfolio Strategies, Emerald Group Publishing Ltd, ss.213-224, 2026
Climate policy uncertainty (CPU) has become a crucial factor influencing global financial markets, particularly in emerging stock and bond markets and the rapidly expanding green investment sector. This chapter explores the role of CPU as a key driver of volatility, investment risk, and portfolio diversification challenges. By analyzing market fluctuations, return dynamics, and green asset behavior during periods of financial stress, the study provides comparative evidence on the short- and long-term implications of CPU in emerging and green markets. The findings indicate that heightened uncertainty results in increased short-term volatility and reduced returns in emerging markets. Over time, however, markets adapt to regulatory shifts, potentially yielding higher returns. Notably, green assets exhibit strong return spillovers during distress periods, reflecting their growing integration into sustainable investment strategies. The chapter underscores the importance of strategic investments in green bonds and dynamic portfolio reallocation to mitigate the adverse effects of CPU. A particular focus is placed on emerging markets such as Vietnam, where substantial investments in sustainability underscore the relevance of these strategies. By distinguishing the impact of CPU on traditional and green assets, this study provides valuable insights for investors and policymakers aiming to enhance market resilience and sustainability. The findings contribute to the broader discourse on financial stability in the face of evolving climate policies, offering actionable strategies to navigate uncertainty while fostering sustainable economic growth.