In　this　paper,　we　analyze　the　interconnectedness　between　investor　sentiment　and　stock　price　jumps　based　on　the　two-layer　network　models.　We　first　use　the　Diebold　and　Yilmaz　(DY)　and　Baruník　and　Křehlík　(BK)　spillover　indexes　to　analyze　the　interactive　effects　of　investor　sentiment　and　price　jumps　between　different　industries　in　China＇s　carbon–neutral　sectors　from　the　time　and　frequency　domains.　The　results　verify　strong　two-way　spillover　effects　of　investor　sentiment　and　jump　volatility　among　green　industries.　The　connectedness　in　the　short-term　risk　network　of　stock　volatility　is　significantly　higher　than　that　of　the　Internet　sentiment　network,　and　the　short-term　risk　spillover　effect　of　the　network　plays　a　leading　role　in　the　total　risk　spillover.　Subsequently,　we　further　study　the　dynamic　spillover　between　investor　sentiment　and　jump　volatility　using　the　rolling　time　window.　The　dynamic　network　reveals　significant　heterogeneity　in　the　spillover　of　Internet　sentiment,　and　the　interaction　effect　of　investor　sentiment　and　jump　volatility　displays　time-varying　characteristics.　The　green　industrials　and　energy　industries　are　systemically　important　sectors　in　the　two-layer　network　system.　The　empirical　results　show　the　complex　risk　contagion　mode　in　the　green　stock　market　and　provide　a　reference　for　investors　and　market　regulators　on　the　risk　management　of　the　green　stock　market.　©　2023　Elsevier　Inc.