PRIZE LAUNCHED WITH INSIGHT INVESTMENT ENDOWMENT
NOMINATIONS INVITED AND JUDGES ANNOUNCED
LONDON: 20 March 2023 – The University of Oxford has announced a new research prize for greening finance, established with an endowment from Insight Investment, a £653.6bn1 global asset and risk manager.
The ‘Insight Investment – University of Oxford Prize for Greening Finance’ will become the preeminent prize in a vital new area of research and practice. The prize will have two categories, both open to distinguished individuals and not-for-profit researchers or research teams.
The first category is for outstanding research contributions that help society better understand how environmental change influences finance and investment, and how economic and financial systems can contribute to achieving global environmental sustainability.
The second is to recognise outstanding service from individuals or not-for-profit organisations who have made a special contribution to the furtherance of greening finance.
Oxford University is now receiving nominations for each category. Nominating partner organisations, selected based on their expertise and networks, will play a key role in ensuring that nominations are of a high calibre and reflect the international scope of the Prize. 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)
- 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)
Prizes and judging
Up to £50,000 will be awarded annually, with the option of a research residency at Oxford for the winners. The permanent Insight endowment has been established to support the running of the prize in perpetuity.
The prize will be awarded in a ceremony at Oxford University with the winners given the opportunity to give a public lecture at the University.
A judging panel will review nominations and select the winners. 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. Judges for the inaugural year include:
- 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, Vice Chair, Central banks and Supervisors Network for Greening the Financial System (NGFS)
- Mette Morsing, Head of the Principles for Responsible Management Education, UN Global Compact
- 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 Economic Geography, University of Oxford
Investing for the future
Abdallah Nauphal, Chief Executive of Insight Investment, said: “It is crucial to advance collective understanding of the relationship between commercial activity and environmental change. We have forged this partnership with the University of Oxford to encourage more academic research to be done on the effects of incorporating environmental considerations into investment solutions. To support the goal of greening the global financial system, more academic research is needed across asset classes. The industry needs novel ideas with practical applications for the finance industry, such as exploring the development of new financial instruments and ways in which markets should evolve to protect the environment.”
Dr Ben Caldecott said: “Green finance is a necessary condition for tackling climate change and meeting the other UN Sustainable Development Goals. This prize will be an important way to both recognise and support outstanding contributions to furthering the goal of greening the global financial system. By celebrating, showcasing, and financially rewarding world-leading research, we can help to drive its adoption and use across the financial system. The prize is endowed in perpetuity, and so we expect the prize’s significance and reputation to grow even further over time. We are proud to be custodians of the prize.”
Mindy Lubber, President and CEO of Ceres, a US-based sustainability non-profit, and prize judge, notes: “Science and economic realities have converged. Every financial actor around the globe must address the world’s most pressing issues — climate change, water scarcity and quality, biodiversity loss and human rights. This prize will highlight and support those bold academic thought leaders and financial innovators who are paving the way for the entire finance sector to raise ambition and accelerate action. Ceres is proud to be a partner of this prestigious award and looks forward to working together to build a sustainable future.”
The University of Oxford is inviting nominations for 2023. Click here to enter. Applications for the 2023/24 prize close on Sunday 21st May 2023 and judging takes place in the second quarter. Prizes will be announced during Oxford University’s Sustainable Finance Summit on 19th and 20th July 2023.