Ying Fan

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Verified

Ying verified their affiliation via an institutional email.

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• PhD
• Professor (Full) at Beihang University

This study reviews how climate change could be considered an additional source of financial market risk using a bibliometric methodology. We find that the primary impetus for academics’ research into these concerns has come from significant international climate change events, e.g., the adoption of the Paris Climate Agreement. Ecological Economics,...

Integrated energy system (IES) can achieve multi energy complementarity, but it still faces the problem of energy surplus or shortage. Therefore, there are demands for energy sharing among different IESs, but how to determine the trading quantity and trading price? To address this confusion, a distributed optimization model for multi-IES participat...

Developing renewable energy (RE) is the inevitable choice for China to achieve its climate goals. However, financing RE investments remains challenging. Meanwhile, China’s digital finance (DF) is profoundly influencing the trajectory of the energy transition. This study empirically investigates the role of DF on the growth of RE, what aspects of DF...

Global fossil energy consumption is a significant source of carbon dioxide emissions and a major cause of global climate change. Heat consumption in the residential sector is an important part of this consumption. Based on reinforcement theory, this study analyzed the influence mechanism of information feedback on the residents’ energy-saving behav...

Facing severe air pollution in its North Plain, the central government of China initiated the Joint Clean Air Action (JCAA) in 2017 to facilitate pollution mitigation efforts across the region. While quite a few studies investigated the effectiveness of this regulation, much less attention is paid to the pollution spillover effects. We empirically...

The ' Policies and Actions to Address Climate Change' part of China' s Fourth National Assessment Report on Climate Change comprehensively summarizes the policies and actions implemented to tackle climate change during the middle and late stages of the 12th Five-Year Plan and the 13th Five-Year Plan, and makes an in-depth and systematic assessment...

This paper examines whether and how the network centrality of institutional investors affects firms’ sustainability development. Using data from the Chinese market, we find that central institutional investors in the social network significantly increase firms’ overall ESG performance. For the environmental, social, and governance pillars of ESG, w...

China and Europe have both announced plans to be carbon neutral by 2060 and 2050 respectively. In residential sector, energy-saving technologies and behaviours are important measures to achieve carbon neutrality. This study investigated the adoption of technical and behavioural energy-saving measures in Northern China and Western Europe as importan...

Based on the panel data of 30 provinces in China from 2011 to 2020, this paper empirically examines the direct effect, spatial spillover effect, and total effect of green finance on carbon emission intensity through the spatial econometric model, considering both spatial and temporal patterns. The results show the following: (1) The carbon emission...

We investigate how an increase in the rate of purchase tax for internal combustion engine vehicles (ICEVs) in China affects sales of ICEVs and battery electric vehicles (BEVs), environmental externalities of CO2 and PM2.5 emissions and social welfare. By building a random-coefficients discrete choice model based on the brand-level sales data and co...

Purpose The ongoing urbanization and decarbonization require deployment of energy storage in the urban energy system to integrate large-scale variable renewable energy (VRE) into the power grids. The cost reductions of batteries enable private entities to invest energy storage for energy management whose operating strategy may differ from tradition...

The disclosure of corporate social responsibility (CSR) information has been attracting increasing attention from practitioners and researchers. This paper examines whether CSR disclosure affects stock price informativeness (SPI) in China by utilizing a propensity score matching and difference-in-difference approach. After the introduction of manda...

Electric vehicles rapidly expand in China during the past decade. The expansion is often justified for the environmental benefits from fleet electrification. However, the magnitude of such benefits depends on many contextual factors and we need country-specific evaluations. We provide such an evaluation. The results are mixed. While adopting an ele...

Long-distance electricity transmission can achieve environmental benefits through the transfer of air pollutants. However, current electricity transmission investment decisions do not take enough environmental factors into account. This study combines Greenhouse Gas–Air Pollution Interactions and Synergies model with power system planning to reveal...

The impact of air pollution on individuals involves issues relating to medical care, education, pensions and retirement. As such, environmental policy can influence the intra- and intergenerational decision-making behaviour of individuals. In this paper, we re-evaluated environmental tax from an intergenerational perspective, using a three-period o...

China has announced its goal of reaching carbon neutrality by 2060, which will have a profound impact on its energy and economic systems. During this process, the power sector will play a key role in helping the country on its road towards carbon neutrality. This study develops a multi-regional power dispatch and capacity expansion model to combine...

China is the largest producer of synthetic ammonia, accounting for one-third of the world’s total production. Ammonia is mainly used to produce fertilizer and is also considered as a potential fuel and new energy carrier for the future. Concomitantly, the ammonia industry is the largest energy consumer and CO2 emitter in China’s chemical industry....

Linking carbon markets in different economies has become an important form of international climate cooperation. However, the complex socioeconomic effects of linking carbon markets need to be fully assessed. This article develops an open-economy environmental dynamic stochastic general equilibrium (E-DSGE) model that incorporates international tra...

This briefing was authored by Ying Fan and Xiaogu Li as part of the Net Zero Political Economy project. The project received financial and in-kind support from the ClimateWorks Foundation. The briefing is the work of the authors and does not necessarily represent the views of Climate Strategies or ClimateWorks Foundation. China holds huge potentia...

China is now facing the double pressure of economic downturn brought by COVID-19 and low-carbon transition. The trade-off between short-term economic recovery and long-term green development makes it necessary to design the economic recovery policies under multiple objectives. This paper constructs a new Keynesian dynamic stochastic general equilib...

To grasp the key characteristics and trends of the rapid development of electric vehicle (EV) technology and to study the development trajectory and main holders of EV technology, this study analyzes the patents related to EVs from 1970 to 2016. In this study, three types of information technologies—text mining, clustering, and social network analy...

This paper investigates the impacts of COVID-19 on the implementation of Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). By using the Automatic Dependent Surveillance-Broadcast (ADS-B) aviation data, the forecast methods of Gompertz and Logistic curves and four COVID-19 scenarios, we find the following results. First, th...

This paper employs a new framework, the high-dimensional conditional Value-at-Risk (CoVaR) connectedness based on the LASSO-VAR model, to explore the conditional financial contagion among a specific system conditional on extreme events occurring outside the specific system and its extreme risk spillovers to the system from the systemic perspective....

The real-time dispatch of electricity grids faces two new challenges: the volatility of renewable energy power generation and the impact caused by the large-scale charging demand of electric vehicles (EVs). Under the premise that China's renewable energy power generation is a prior connection to the grid, this article aims to guide the coordinated...

More and more attention has been given to the role of electric vehicles in reducing the economic cost and carbon emissions of the power system through the vehicle-to-grid (V2G) mode, as well as helping to integrate renewable energy power. The promotion of V2G mode needs to consider the effectiveness of policy costs, so it is urgent to estimate the...

Imperfect competition in permit markets has a negative impact on the cost-effectiveness of emission trading schemes. Currently, imperfect competition is mainly explored under mass-based schemes. In contrast to mass-based schemes, under rate-based schemes, both caps and allowance allocations depend on firm production. This paper examines theoretical...

Mass- and rate-based schemes are different types of emission trading schemes. Mass-based schemes are usually regarded as first-best market mechanisms for any given level of abatement compared with rate-based schemes. This paper focuses on whether mass-based schemes still achieve higher social welfare in the presence of an imperfectly competitive pr...

Abstract: Carbon emission trading schemes (CETS) have become a major treatment for China to achieve green, low-carbon and sustainable development. Therefore, it is of great practical significance to evaluate impacts of the policy on environment and economy. Based on China's provincial panel data from 2005 to 2017, this paper regards the Hubei carbo...

The world is currently undergoing energy transition geared to sustainable development. Although countries have different transition pathways due to differences in the core transition motives and the energy endowment, the driving mechanisms behind them are similar. Based on the analysis of these rules and mechanisms, this paper conducts an in-depth...

Using cross-asset return data in global financial markets, we propose a novel empirical framework to identify the causal structure of the asset risk spillover network. The joint return distribution of the global financial system can be characterized using a directed acyclic graph approach. However, since assets tend to be highly correlated during m...

Renewable energy plays a key role in mitigating climate change and promoting the energy transition. In this context, we address two crucial consequences for planning the electricity transition: (a) substantially more complex uncertainties in variable renewable energy and (b) a requirement to co-ordinate extensive transmission investment with the ne...

The outbreak of COVID-19 pandemic has increased the production costs of renewable energy facilities and undermines the profitability of renewable energy investment. Green finance polices, e.g. carbon pricing, tradable green certificate (TGC) and green credit, can provide low-cost finances and counteract the adverse effects of COVID-19 pandemic. In...

Most countries of the world have put forward the goal of striving for carbon neutrality. The goal is hard to achieve by only relying on supply side solutions for the world. Most countries should pay more attention to the potential of energy conservation and emission reduction in the field of final demand. We construct an empirical analytic framewor...

This paper uses the connectedness network model to analyze the risk spillover between WTI returns and 8 important financial factors in extreme risk scenarios. The findings show that WTI behaves as a net risk receiver in the risk spillover network, while the Financial Stress Index (FSI), non-commercial short and long positions in crude oil futures (...

This paper builds an inventory of intercity aviation emissions (CO2, NOx, SOx, CO, HC, and PM) and conducts a comprehensive international comparison, including the USA, Canada, Australia, Mainland China, Brazil, and India. We find that, first, the emissions per capita are significantly higher in developed countries than in developing countries. Sec...

To solve the different environmental problems caused by the over-use of fossil fuels, multiple environmental policies currently coexist. How these environmental policies interact with each other and how to optimise them are a few issues that need to be resolved urgently in practice. We established an environmental dynamic stochastic general equilib...

As the country with the world’s largest coal power capacity, China is launching a national carbon market. How the carbon pricing may contribute to phasing out China’s coal power is a great concern. We collect full-sample dataset of China’s 4540 operating coal plant units, and develop a stochastic Monte-Carlo financial model to assess the financial...

In order to examine the price impact and income distribution effect of the “home mortgage interest deduction of individual income tax” (hereafter abbreviated as HMID) policy, this paper considers the endogenous connection mechanism between the current residents’ income and consumption, the demand pull between residents’ consumption and production a...

Investment of clean energy industry aims at developing clean alternative energy sources to substitute fossil fuels, the consumption of which leads to climate change and air pollution. However, how the supply and demand of steam coal affect the investment remains an extremely understudied issue, as the extant research focuses on crude oil, while ste...

The construction of public-access electric vehicle charging piles is an important way for governments to promote electric vehicle adoption. The endogenous relationships among EVs, EV charging piles, and public attention are investigated via a panel vector autoregression model in this study to discover the current development rules and policy implic...

This study pioneers to investigate the impact of industry on the European Union carbon trading market based on network perspective. All the accounts in the European Union Emissions Trading System (EU ETS) are summarized at the industry level, and then the trading relationship between industries is constructed in the network layout. Based on this ne...

The petroleum refining industry is an important energy conversion sector, providing both products and raw materials to a wide range of end-use sectors, including the transportation and chemical industries. This study uses a typical refinery process flow to develop a complex refining system by characterizing technical features and interrelationships...

This article aims at investigating the dynamic dependence and extreme risk comovement of oil price and exchange rates in seven oil‐importing and seven oil‐exporting countries. For this purpose, we use six representative time‐varying copula models and four kinds of tail dependences to assess the downside and upside conditional value‐at‐risk measures...

The transition of energy structure to renewable energy is a social and systematic engineering that requires complex regional power interconnection as a support. Thus, an assessment of the economic viability of infrastructure investments for supporting such transmission expansion is crucial. This study presents a multi-regional power system optimiza...

Renewable energy plays an important role in the promotion of China’s energy transformation and climate changemitigation. Since the implementation of the Renewable Energy Law in 2006, China has made remarkable achievements in the development of renewable energy. However, the proportion of renewable energy in China is still low, and there are still c...

The European Union Emission Trading Scheme is a carbon emission allowance trading system designed by Europe to achieve emission reduction targets. The amount of carbon emission caused by production activities is closely related to the socio-economic environment. Therefore, from the perspective of economic policy uncertainty, this article constructs...

Achieving grid parity of solar photovoltaic (PV) power in China has great implication for the future energy system transformation. In this work whether and when, and under what conditions the grid parity can be achieved are assessed, and especially the role of Tradable Green Certificate (TGC) policy in achieving the grid parity is explored. We firs...

Climate change is posing risks for human and natural systems, and one of the most important questions faced by policy makers is to reduce such risks and impacts through adaption and mitigation actions. As the country with the highest CO2 emissions, China is facing unprecedented challenges: climate change, energy structure transformation and socio-e...

This paper pioneers to investigate the endowment effect in the European Union mission Trading Scheme (EU ETS) as well as the impacts of trading experience and compliance pressure on the endowment effect. This study is based on the complete transaction records of the market. In the data set, the records of two consecutive reverse transactions from a...

Significant differences in the adoption of energy-saving measures between homeowners and renters were found in the survey data of 1,248 households from the Netherlands, Germany, and Belgium. In this study, we examined the influence of split incentive effects between homeowners and renters, which stem from differences between those who pay and those...

Though sharing a similar practice form, the emission trading scheme is distinguished from traditional financial markets: firms coordinate three abatement options at the micro level, including allowance trading, output adjustment, and low-carbon technology adoption. Then, at the macro level, this leads to dynamic interactions among allowance market,...

The EU Emission Trading System (ETS) is the oldest and currently the largest carbon market in the world, but its purpose of stimulating carbon emissions via trading profits remains unexamined. Based on the complete firm-level transaction records of the EU ETS Phases I and II, here we show that the participating firms' trading profits and their emis...

This paper empirically explores the time-varying co-movements between the international crude oil price, the prices of three common recycled plastics, i.e., recycled high-density polyethylene, polyethylene terephthalate, and polypropylene, and a synthesized index of the stock prices of public Chinese companies that manufacture plastic products, to...

To promote low-carbon economy and sustainable energy consumption, new energy vehicles (NEVs), a typical eco-innovation, are drawing intensive attention from manufacturers, administrators and academics. Despite extensive literature investigates factors that affect research and development (R&D) of NEVs, yet little is known about the role of technolo...

Variable renewable electricity (VRE) is expected to play an important role in global decarbonization. However, due to VRE’s intermittency and uncertainty, integrating VRE into the power system may cause additional integration costs for both power systems and consumers. Estimating these integration costs can provide insights for power system plannin...

Due to the high adoption cost, large uncertainty, and ignorance of the positive externalities for private entities, additional incentives are needed for the development of carbon dioxide removal (CDR) technology. And there is a trade-off between the government and investors on how to ensure the effectiveness of the incentive policy and optimally al...

The paper identifies break points in the European Union Emissions Trading Scheme (EU ETS) from 2005 to 2018 using multiple structural change model, and illustrates the impact process of these break points on expected carbon returns and volatility using bilaterally modified dummies. Our results show five break points: April 27 and November 10, 2006,...

Whether and how to share the incremental cost of energy efficient residence compared with common buildings between housing developers and buyers is an urgent problem to be solved in promoting energy efficient residence. This study estimates urban residents' willingness to pay (WTP) for energy efficient residence in Beijing and Changchun in China to...

Climate policies making are strongly impacted by the approach of damage evaluation. China is leading carbon dioxide (CO2) emissions in the world, and has agreed with Paris agreement to reduce CO2 emissions. China is also expected to be negatively impacted by climate change. One of main concerns is how to assess and monetize the climate damage from...

Introduction of electric vehicles (EVs) is regarded as an effective measure to mitigate air pollution. Although intensive efforts have been invested on examining the factors affect the adoption of EVs, the potential impact of air pollution on EV sales is severely underexamined. In this study, we pioneer to examine the relation of air pollution (mea...

Abatement effort can bring about different consequences towards emissions, which is mainly due to the mechanism within the abatement investments. In this paper, the study aims to study in more depth how differentiated evanescent and inertia abatement investments should be allocated to achieve carbon reduction, and also to show that the abatement pa...

China's consumption of liquid fuels as well as the dependence on foreign oil has increased considerably in recent years. Alternative liquid fuel technologies such as coal to liquid (CTL) are attracting attentions. However, facing uncertainties of energy price and carbon price as well as policy fluctuations and potential CO2 utilizations, evaluation...

Despite the rapid development of renewable energy power in China, the sector is facing signifcant challenges in the form of declining feed-in tariffs (FIT) and serious curtailment problems. However, in the long-run the nationwide carbon emission trading system may provide a new economic incentive to invest in renewable energy projects in China. Agai...

China has adopted an ambitious plan for wind power to achieve grid parity with the on-grid price of coal-fired power in 2020. Whether this target can be achieved is a great concern for policy makers as well as potential investors. To address this issue, we first estimate the future levelized cost of electricity (LCOE) of wind power using a learning...

China has adopted an ambitious plan for wind power to achieve grid parity with the on-grid price of coal-fred power in 2020. Whether this target can be achieved is a great concern for policy makers as well as potential investors. To address this issue, we frst estimate the future levelized cost of electricity (LCOE) of wind power using a learning c...

China has adopted an ambitious plan for wind power to achieve grid parity with the on-grid price of coal-fired power in 2020. Whether this target can be achieved is a great concern for policy makers as well as potential investors. To address this issue, we first estimate the future levelized cost of electricity (LCOE) of wind power using a learning...

While prior studies of consumer preferences on electric vehicles (EVs)utilized stated preference (SP)or revealed preference (RP)data, this study examined consumer preferences for EVs through their online behaviour. Using big data and text mining technologies to explore large quantities of Chinese consumers’ online behaviour pertaining to EV selecti...

Energy-saving behaviours possess great potential for reducing residential energy consumption, which are influenced by various determinants. In this study, we classify the residential energy-saving behaviours into three categories: investment behaviours, control behaviours, and careful-use behaviours. Then, we further investigate the careful-use beh...

We investigate the bidirectional interactions between trading behaviors and carbon prices in the first carbon market, i.e., European Union Emissions Trading Scheme (EU ETS). The trading behaviors of the emitting companies are classified into ‘compliance trading’ and ‘non-compliance trading’ based on their positions, and the behaviors of financial i...

Ubiquitous utilization of video surveillance systems is supposed to promote safety, yet whether these systems improve the residents’ perception of safety is unknown. Moreover, the factors that affect the perception of safety are also unclear. We seek to fill these knowledge gaps via a survey-based study, which aims at evaluating the impact of video...

Significant differences in key results across the various climate models and integrated assessment models (IAMs) represent a critical challenge to reliable scientific findings and the robust design of climate policies, which leads to an enormous amount of attention and the urgent call for a multi- model study. In this paper, we develop an integrate...

The transport sector's promotion of electric vehicles (EVs) is an important tool in reducing greenhouse gas emissions. The high monetary subsidies widely used to promote EV diffusion in many countries are not sustainable in the long term. Therefore, effective alternative incentives are needed as subsidies are gradually phased out. In this paper, co...

In this work, we develop a regional integrated assessment framework by incorporating both adaptation and mitigation mechanisms to conduct benefit-cost analysis of China’s optimal adaptation and portray the relative adaptation cost curve. In particular, we explore the influence of induced optimal mitigation, given the 2-degree warming-increase targe...

China has set a goal of 20% non-fossil energy in total primary energy consumption by 2030. The decision of where to invest in renewable energy, and to what extent, needs to be considered from a forward-looking perspective. This article presents a power sector optimization model that integrates unit commitment with long-term generation expansion pla...

China has planned to implement renewable portfolio standards (RPS) and national carbon cap-and-trade to promote the low-carbon transformation of society. How to design and coordinate the goals of these policies becomes a key issue. This study quantitatively evaluates the effects of RPS and carbon caps in China's power sector using a multi-regional...