Greening Finance Prize 2024
Greening Finance Prize 2024
The Insight Investment – University of Oxford Prize for Greening Finance recognises research and service that helps society better understand how environmental change influences finance and investment, and how economic and financial systems can contribute to achieving global environmental sustainability.
A permanent endowment has been established to support the Prize in perpetuity through a generous donation from Insight Investment. Prize money of up to £50,000 is available annually across the Prize categories, split at the discretion of the University of Oxford. There may be the option of a research residency at Oxford for the winners of the outstanding research and outstanding service categories.
The Prize Categories
In 2024 a new category is being introduced “Best Green Finance Fixed Income Paper”. Therefore, the three prize categories are now:
Outstanding Research – The first category recognises outstanding research that helps society better understand how environmental change influences finance and investment, and how economic and financial systems can contribute to achieving global environmental sustainability.
Outstanding Service – The second category recognises individuals or not-for-profit organisations who have provided outstanding support for the furtherance of green finance.
Best Green Finance Fixed Income Paper – The third category recognises a specific piece of research that examines the role environmental sustainability plays in fixed income investing.
Eligibility and Nomination Criteria
The Prize is open to individuals and not-for-profit organisations (i.e. organisations established for a purpose other than that of making a profit and whose surplus revenues are used to further the purpose of the organisation rather than to benefit those with an interest in the organisation).
Nominations for the research categories should in general cover a greening finance subject reflecting the following attributes:
- Furthers our collective understanding and/or challenges conventional thinking.
- Relates to an environmental topic.
- Has practical applications for investment managers.
- Contributes to the evolution of investment theory and practice.
- Relates to the structure or development of financial instruments and/or capital markets.
- Results in positive impacts in the real economy.
- Relevant to asset classes beyond listed equities.
The new Best Green Finance Fixed Income Paper topics could include but are not limited to, the following:
- ESG factors that are financially material for fixed income investors.
- Instrument versus portfolio-level financial performance.
- The role of labelled bond issuance, bondholder engagement.
- Asset class distinctions (e.g. corporate versus sovereign investments).
- Bond duration and investment time horizons and their relevance to ESG.
- Approaches to management of data/disclosure gaps.
The selection of the Prize winners shall be the responsibility of the Prize Panel nominated for this purpose. The Prize Panel will have the freedom to interpret criteria and advise the University on the allocation of prize funding.
The panel will be chaired by Dr Ben Caldecott, Director of the Oxford Sustainable Finance Group and Director of the UK Centre for Greening Finance & Investment.
The Prize Panel for 2024:
- Rob Bauer, Professor of Finance, Maastricht University
- Andrew Clare, Professor of Asset Management, Bayes Business School of City, University of London
- Bob Eccles, Visiting Professor, Saïd Business School, University of Oxford
- Jessica Fries, Executive Chair, Accounting for Sustainability
- Nando van Kleeff, Senior Programme Manager, Laudes Foundation
- Mindy Lubber, CEO and President, Ceres
- Sabine Mauderer, Chair, Central banks and Supervisors Network for Greening the Financial System (NGFS)
- Mette Morsing, Director of the Smith School of Enterprise and the Environment, University of Oxford
- Colin Mayer, Emeritus Professor, Saïd Business School, University of Oxford
- Stephanie Pfeifer, CEO, Institutional Investors Group on Climate Change
- Peter Tufano, Baker Foundation Professor, Harvard Business School
- Dariusz Wójcik, Professor of Financial Geography, National University of Singapore
Nominating partner organisations, selected based on their expertise and networks, will nominate candidates for each category and this will be the primary route for receiving nominations. Nominating partner organisations include:
- Carbon Disclosure Project (CDP)
- CFA Institute
- European Leveraged Finance Association (ELFA)
- Glasgow Financial Alliance for Net Zero (GFANZ)
- Global Research Alliance for Sustainable Finance and Investment
- Green Finance Institute
- International Capital Market Association (ICMA)
- Impact Investing Institute
- The Network of Central Banks and Supervisors for Greening the Financial System (NGFS)
- The Investment Association (IA)
- One Planet Sovereign Wealth Fund Initiative (OPSWF)
- Science-based Targets Initiative (SBTI)
- UK Sustainable Investment and Finance Association (UKSIF)
- UN Environment Programme Finance Initiative (UNEP FI)
- UN Principles for Responsible Investment (UN PRI)
Terms and Conditions of Entry
The Prize is open to members of the University of Oxford, individuals who are not members of the University of Oxford, and organisations established for a purpose other than that of making a profit and whose surplus revenues are used to further the purpose of the organisation rather than to benefit those with an interest in the organisation (not-for-profit organisations). For the avoidance of doubt, any organisation which is not a not-for-profit organisation shall not be eligible.
In the case of insufficient applications of appropriate calibre, the University may retain the relevant funds, to be applied for future prizes.
The nominations deadline for the 2024 prize is Friday 24 May 2024.