Do geopolitical events transmit opportunity or threat to green markets? Decomposed measures of geopolitical risks

The growth of clean energies and technologies requires a sound financial market, while equity bond markets are exposed to geopolitical risks. We investigate the response green bonds newly develop decomposed measures risks, including acts, threats, narrow broad measures. To this end, we apply two robust methods; namely, cross-quantilogram quantile (QQ) approaches, estimate conditional unconditional volatility spillovers considering short, medium, long term. Surprisingly our empirical investigation demonstrates that all risk (except acts) transmit positive shocks investments (both bonds) from bearish bullish market states. At state, respond negatively highest quantiles risks under memory. However, acts shock at some extreme quantiles. Our findings beneficial by transmitting opportunities preventing for investment decision-making in markets,