Akademik Məlumat İdarəetmə Sistemi
Applied Economics Letters, 2025 (SSCI)
Climate policy uncertainty sends shockwaves through both traditional energy and precious metal markets–pressuring the former to adapt to green mandates, while elevating the latter as essential pillars of the clean energy revolution. This study examines the correlation between climate policy uncertainty and energy and precious metals using a multi-frequency quantile correlation approach on data from 7 January 2011, to 5 May 2024. The results indicate that at high frequencies, climate policy uncertainty is negatively correlated with metals and fuels, reflecting short-term disruption and reduced risk appetite–even for traditional safe havens such as gold and silver. In contrast, at mid- and low-frequency horizons, correlations turn positive, suggesting that credible climate policy becomes a structural driver of demand for safe-haven metals and for energy commodities tied to the transition. Based on these findings, the following policies are recommended.