The Centre for Climate Finance & Investment undertakes cutting-edge research.

Our strategic aims guide the Centre’s work as we shape the future of climate-aligned finance and deliver practical impact across research and industry.

The Centre acts as an institutional bridge:

Between science and financial markets, converting climate, nature, and environmental data into decision-useful metrics for investors, corporates, financial institutions, and other market participants.

Between academic research and market innovation, developing novel methodologies with industry relevance, adoption, and scalability.

Between technology and finance, using advanced analytics, AI, and data-driven methods to strengthen risk assessment, scenario analysis, and investment decision-making.

Between risk and opportunity, helping organisations manage uncertainty while identifying investable pathways for resilience, clean energy, adaptation, economic security, and sustainable growth.

Recent Research Papers

• Allen, F., Barbalau, A., & Zeni, F. Reducing carbon using regulatory and financial market tools. Available at SSRN.
   
• W.D. Pearse, F. Allen, S. Cenci, H. Liang, O.F. Morris, N.J. Pates, E.M. Slade, L. Somekh, E. Biffis. A financial framework for nature must recognise that ecosystems have local temporal and spatial dynamics. Available at EcoEvoRxiv.
   
• Allen, F., Barbalau, A., Chavez, E., & Zeni, F. (2025). Leveraging the capabilities of multinational firms to address climate change: a finance perspective. Journal of International Business Studies, 56(4), 461-480.
   
• Allen, F., Behr, P., Cosenza, R., & Nowak, E. (2026). Do investors care about the rainforest? Evidence from voluntary carbon offsets around the world. Review of Finance, 30(1), 321-349.
   
• S. Biagini, E. Biffis, K. Salezadeh Nobari. Short-lived Gases, Carbon Markets, and Climate Risk Mitigation. Available at SSRN.
   
• Cenci, S., and Biffis, E. (2025). Lack of harmonisation of greenhouse gases reporting standards and the methane emissions gap. Nature Communications, 16(1), 1537.
   
• H. Liang, E. Biffis, E.M. Slade, P. Bolton. Pricing Biodiversity-related Impacts for Business and Investment Decisions.
   
• Bolton, P., Edenhofer, O., Kleinnijenhuis, A., Rockström, J., & Zettelmeyer, J. (2025). Why coalitions of wealthy nations should fund others to decarbonize. Nature, 639(8055), 574-576.
   
• Bolton, P., Chavez, E., and Masselot, P. The Missing Climate Millions. Available at SSRN.
   
• Kacperczyk, M.T. What Is the Carbon Premium a Premium On? Available at SSRN.
   
• Kacperczyk, M. (2025). Transition risk in the banking sector: Climate finance. Nature Climate Change, 15(9), 923-924.
   
• Koci, Iva and Holtedahl, Pernille, Looking Under the Hood of Nature Investing: Evidence from Early Adopters. Available at SSRN.
   
• Colmer, J., Martin, R., Muûls, M., and Wagner, U. J. (2025). Does pricing carbon mitigate climate change? firm-level evidence from the european union emissions trading system. Review of Economic Studies, 92(3), 1625-1660.
   
• Khanna, S., Martin, R. and Muûls, M. Building virtual power plants: incentives and automation for demand-side flexibility. Available at GOV.UK.
   
• Ostrovnaya, A., Ahrens, J., Smart, J., Theocharidou, A., and B. Buhr (2026). Carbon cost pass-through and access to capital shape firms’ carbon strategies. Communications Earth & Environment (2026).
   
• Döttling, R., and Rola-Janicka, M. (2025). Too levered for Pigou: Carbon pricing, financial constraints, and leverage regulation. Journal of Financial Economics, 172, 104105.
   
• Williams, R. The Microeconomic Challenge with Renewable Energy. Available at SSR