INSPIRE

The International Network for Sustainable Financial Policy Insights, Research, and Exchange
A research network focused on greening the financial system.
The global financial system, now more than ever, needs to intensify its response to the severe risks posed by environmental degradation and climate change, and to,channel capital effectively to accelerate the transition to a low-carbon, resilient, and sustainable model of development.

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.

INSPIRE commissions research to support the NGFS agenda

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.

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INSPIRE: Modes of working

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-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 workstreams. A description of awarded research projects can be found here.

INSPIRE’s third call for proposals, on research questions identified in collaboration with the NGFS and its members, can be found here. Translation in 中文 (Chinese) here.

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 researches on current supervisory practices in environmental risk assessment to inform the workstreams 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.

If you, or your organization, would like to submit a proposal related to these priorities, please complete the Submission Form and send it to INSPIRE@climateworks.org.

Details on the submission process and other frequently asked questions can be found here.

Advisory Committee

Professor Nick Robins

Grantham Research Institute, LSE

Professor Wang Yao

Central University of Finance and Economics

Dr. Pierre Monnin

Council on Economic Policies

Dr. Jakob Thomä

2-Degrees Investing Initiative

Funding Partners