In December 2017, eight leading central banks and supervisors announced they were assembling to form the Network for Greening the Financial System (NGFS) with the goal to “help strengthen the global response required to meet the goals of the Paris Agreement and to enhance the role of the financial system to manage risks and to mobilize capital for green and low-carbon investments in the broader context of environmentally sustainable development.” Since then, the NGFS has grown to 65 members and observers from Africa, Asia, the Americas, and Europe.
Innovative and robust research will be needed to enable the NGFS and its members to deliver this ambitious goal. To support this, the ClimateWorks Finance program developed a new platform that enables philanthropy to support the agenda of the NGFS. The result is INSPIRE: an independent research network purpose-built to commission scholarship and insights from best-in-class scholars and analysts in all parts of the world on key research questions linked to the NGFS work program.
INSPIRE has been designated a global research stakeholder of the NGFS, and commissions new research with input and exchange from the NGFS’s Secretariat, its workstreams, and its members. INSPIRE also seeks to communicate the results widely and convene researchers, policymakers and practitioners. INSPIRE is hosted by ClimateWorks and the Grantham Research Institute at the London School of Economics. The secretariat is co-chaired by Ilmi Granoff (ClimateWorks Foundation) and Nick Robins (LSE), and research commissioning is guided by an Advisory Committee with domain expertise and close interface with the NGFS and whose membership is shown below. INSPIRE was initially established with financial support from ClimateWorks together with support from the Children’s Investment Fund Foundation.
INSPIRE works closely with the NGFS and the research community through two complementary modalities: independently identified and published research informed in dialogue with the NGFS, and research outputs commissioned by the NGFS for their own 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 workstreams. A description of awarded research projects can be found here.
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: