Table 1.

Variable description

Primary indicatorsSecondary indicatorsDescriptionSource
Carbon priceEUAECX carbon futures product price that account for more than 90% of the EU ETS transactionWind
Certified emission reduction priceCEREUA’s complementary product, which can be used to offset a certain percentage of carbon emissions
Economic developmentStoxx600Industrial development index across 18 EU countries is a barometer of EU industrial development
Stoxx50The index can reflect the overall situation of stock prices of large listed companies in the Euro area, and its fluctuations directly affect the economic development of the EU
FTSEA barometer of the British economy, it is also known as the three major European stock indexes together with the French CAC40 index and the German DAX index
CAC40Barometer of French economic development
DAXBarometer of German economic development
Black energyCoalEuropean CIF ARA coal priceEEX
BrentBrent crude oil futures priceICE
Clean energyGasEU natural gas price
PV Crystalox SolarOne of the UK’s largest manufacturers of solar power materials, basically representing the status of clean energy development in EuropeWind
NordexOne of Germany’s largest manufacturers of wind power materials, basically representing the status of clean energy development in Europe

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