İklim Politikası Belirsizliği ve ESG Tabanlı Sürdürülebilirlik Belirsizliği: ABD Karbon Yoğun Sektör Endekslerinin Analizi

Abstract

Bu çalışmanın amacı, İklim Politikası Belirsizliği (CPU) ile ESG-tabanlı Sürdürülebilirlik Belirsizlik Endeksi (ESGUI) ve karbon yoğun Dow Jones sektör endeksleri arasındaki ilişkileri incelemektir. Dalgacık Yaklaşımı kullanılarak gerçekleştirilen analiz bulguları, değişkenler arasındaki etkileşimlerin zaman ve frekans boyutlarına göre farklılık gösterdiğini ortaya koymaktadır. Sonuçlar, CPU’nun hem ESGUI hem de sektör endeksleri üzerinde öncül ve yönlendirici bir rol üstlendiğini göstermektedir. Elde edilen bulgular yatırımcıların portföy stratejilerinde CPU ve ESGUI göstergelerine önem vermeleri, politika yapıcıların ise belirsizliği azaltan, sürdürülebilir ve öngörülebilir politikalar geliştirmelerinin gerekliliğini vurgulamaktadır.

Keywords

• iklim politikası belirsizliği
• ESG tabanlı sürdürülebilirlik belirsizliği
• dalgacık analizi

Climate Policy Uncertainty and ESG-Based Sustainability Uncertainty: Analysis of US Carbon-Intensive Sector Indices

Abstract

The purpose of this study is to examine the relationships between Climate Policy Uncertainty (CPU) and the ESG-based Sustainability Uncertainty Index (ESGUI) and carbon-intensive Dow Jones sector indices. Findings from the analysis conducted using Wavelet Approach reveal that interactions between variables differ across time and frequency dimensions. The results show that CPU plays a leading and guiding role on both ESGUI and sector indices. The findings emphasize the need for investors to consider CPU and ESGUI indicators in their portfolio strategies and for policymakers to develop sustainable and predictable policies that reduce uncertainty.

Keywords

• climate policy uncertainty
• ESG-based sustainability uncertainty
• wavelet approach

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