Researchers looking into the intersection of environmental sustainability and finance can see one immediate reward thanks to a new research prize from the University of Oxford endowed by Insight Investment.
The Insight Investment – University of Oxford Prize for Greening Finance will have two categories, both open to distinguished individuals and not-for-profit researchers or research teams.
One category will recognize outstanding research that helps society better understand how environmental change influences finance and investment, and how economic and financial systems can contribute to global environmental sustainability. The other category will recognize outstanding service from individuals or not-for-profit organizations who have made a special contribution to the furtherance of green finance.
A total of up to £50,000 ($60,200) will be awarded annually, and winners will be offered a research residency at the Oxford, England-based university, as well as the opportunity to give a public lecture there. Applications for the 2023/2024 prize close May 21 and prizes will be announced during Oxford University's Sustainable Finance Summit on July 19-20.
Nominations are now being accepted, with partner organizations reviewing the candidates for both quality and the prize's international scope. Those partners include Ceres and the CFA Institute, among others.
Ben Caldecott, founding director of the Oxford Sustainable Finance Group and director of the U.K. Centre for Greening Finance & Investment, will chair the judging panel. Recognizing research can help drive its adoption, and with the prize endowed in perpetuity, the prize's significance should grow over time, Mr. Caldecott said in a new release.
"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," added Abdallah Nauphal, CEO of Insight Investment, a global asset and risk manager with $786.2 billion in AUM, in the release.