Norges Bank Investment Management shall contribute to research aimed at increasing the knowledge of matters relevant to the long-term return on, and risk in, the investment portfolio, including responsible management research.
Since our initial funding for research projects on the Financial Economics of Climate Change in 2017, the body of academic research on climate change has grown substantially, leading to a more nuanced understanding of the effects of climate change on asset prices.
Despite this progress, interdependencies between the climate transition and other global developments, such as changing trade policies and nature risks are not yet well understood. An orderly climate transition relies on government policies to address negative externalities and on the incorporation of their likely effects by financial markets. Given the passage of time, as well as the different time horizons, incentives, and capabilities of various market participants, it is important to evaluate the effectiveness of climate actions undertaken so far and to further develop them based on research.
To develop and advance the research efforts on climate finance, Norges Bank Investment Management welcomes proposals from institutions and researchers that can facilitate further academic discourse. Research outputs should be broadly relevant to us as a long-term and globally diversified investor, addressing challenges such as:
Interactions between climate, nature and financial risks
Corporate financial exposures and asset pricing effects, belief formation about the severity and impact of risks and opportunities, metrics and methodologies for quantifying risks and opportunities, scenarios and interdependencies.
Climate transition and geopolitics
Energy transition and access to raw materials, interdependencies between geopolitics, the climate transition and industrial transformation, climate ambitions and international cooperation.
Climate action and its effectiveness
Evaluating investors’ ownership and investment decisions, corporate responses to, and regulatory interventions on, climate change, and their impact on climate outcomes such as CO2 emissions.
Norges Bank Investment Management may provide support for research initiatives for a period of up to three years. The research funding may be used for conferences, roundtables, workshops, papers, or other research initiatives aimed at original research and new scientific insights. Disseminating findings from the research project in Norway will be appreciated.
Norges Bank Investment Management welcomes proposals from academic institutions and research organisations. The researchers involved should have a proven record of carrying out high-quality research. Submitted research proposals will be evaluated by our Scientific Advisory Board.
The deadline for submission of proposals is 13 September 2024
Please note that indirect costs should not exceed 25% of the total grant. Please contact us for more information about the call and application procedure: ResearchProgrammes@nbim.no