INSPIRE: A research network focused on greening the financial system

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INSPIRE drives a global, purpose-driven research agenda.

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The global financial system must evolve to respond to the growing risks posed by climate change and environmental degradation. The International Network for Sustainable Financial Policy Insights, Research, and Exchange (INSPIRE) is an independent research network built to support the central banks and supervisors of the Network for Greening the Financial System (NGFS) in their work to manage climate risk and mobilize finance to support the transition to a sustainable economy.

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Learn about INSPIRE’s background, secretariat, and advisory committee

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See the call for research proposals

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See INSPIRE funded research projects

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Learn more about upcoming and past INSPIRE events

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Featured Research

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Biodiversity and Financial Stability: Exploring the Case for Action

The joint Study Group on ‘Biodiversity and Financial Stability’ launched by NGFS and INSPIRE publishes a Vision Paper. The report sets out the links between biodiversity loss and the macroeconomic and financial systems.

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NGFS and INSPIRE launch a joint research project on ‘Biodiversity and Financial Stability’

The goal of the research initiative is to establish an evidence-based approach to how central banks and supervisory authorities could fulfil their mandates in the context of biodiversity loss, with a focus on land-use and deforestation.

Call four awardees

We’re delighted to announce the projects that will be funded from our fourth research call, climate change and the macroeconomy: Implications for the conduct of monetary policy and the coordination of monetary, prudential and fiscal policy.

A Toolbox of Sustainable Crisis Response Measures for Central Banks and Supervisors

This new edition of the toolbox provides a framework for how sustainable considerations may be integrated into both crisis response measures and general operations.

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“Across the Network for Greening the Financial System (NGFS) workstreams on micro-prudential risk, macro-financial stability, the scaling up of green finance and the work that we are starting on data, there are a range of research questions in front of us. The support of INSPIRE and the wider research community in tackling those questions is indispensable.”

Frank Elderson, Chair of the NGFS, Executive Board Member of the Dutch Central Bank

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How INSPIRE works

As a designated research partner to the Network for Greening the Financial System (NGFS), INSPIRE supports the NGFS and its partners with a cutting-edge global research agenda. INSPIRE works closely with the NGFS and the research community to manage its own commissioned research and to support NGFS-commissioned research.

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INSPIRE-commissioned research outputs

INSPIRE commissions research developed by its advisory committee in consultation with the NGFS’s members and the broader research community. Its primary modality for commissioning such research is through open calls.

In 2019, INSPIRE issued two comprehensive calls for proposals responding to the broad range of research topics identified by the NGFS work-streams.

A description of awarded research projects can be found here.
Details on INSPIRE’s previous calls for paper can be found here

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NGFS-commissioned research products

When requested by the NGFS, INSPIRE also commissions outside research to inform work products developed by the NGFS. Currently, such work includes the following projects:

In 2019, INSPIRE began working with the NGFS’s workstream 1 to support an “Occasional Paper” from independent researchers on current supervisory practices in environmental risk assessment to inform the workstream’s own report on the topic.
In 2019, INSPIRE has, at the request of the NGFS, worked with workstream 2 to commission a set of external researchers to develop a set of climate “reference” scenarios to assist supervisory authorities and the market to manage climate-related financial risks, and to facilitate dialogue with the research community on such scenario modeling. The initial scenarios and guidance issued by the NGFS as a result of this research can be found here.

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Get INSPIRE updates

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