Minimum harmonization in European environmental law essentially means that the Member States have the power to lay down more stringent standards in this area of regulation than those laid down by European legislation. However, there are indications which seem to suggest that Member States make...

This paper examines the time-frequency spillovers and connectedness network between European ETS and the sustainability markets. Empirically, we rely on the Baruník and Křehlík (2018) Diebold and Yilmaz (2012) spillover index to measure the time-varying spillovers, directional spillover, net...