The 2015 Paris Climate Conference has put finance at the heart of the debate on climate change. Leaders of the G20 have stated their ambition to substantially scale up initiatives to fund low-carbon technologies and other measures to mitigate climate change. The mounting interest in green finance has also laid bare our limited understanding of the relation between finance and the environment. Are deeper financial systems detrimental to the environment as they fuel economic growth and the emission of pollutants? Or can finance help to steer firms, and economies as a whole, towards more sustainable growth paths?
The purpose of the research project “Financing the Green Transition in Developing Countries” is to better understand the role of the financial sector in facilitating the transition of firms into green technologies across countries in Emerging Europe, Northern Africa and the Middle East. The project will be a close collaboration between academics in the Department of Economics at Royal Holloway, University of London (RHUL) and research economists in the Office of the Chief Economist at the London-based
European Bank for Reconstruction and Development (EBRD).
Project aims and objectives
The aim of the project is to advance our understanding of how finance can facilitate the adoption of low-carbon and other green technologies by firms in the developing world. The project will investigate the drivers of commercial banks’ green lending strategies and firms’ decision to invest in green technologies or not. Special attention will be paid to how access to credit can facilitate the green transition. Additionally, the project will analyse how local environmental conditions in terms of pollution and extreme weather, as well as the regulatory environment, shape the decisions of lenders and borrowers to finance and adopt green technologies, respectively.
The project aims to deliver high-quality research output that sheds new light on the extent to
which credit-market policies can support the transition to a net-zero carbon economy and on the underlying mechanisms. The research should inform and influence decision-makers in the financial industry, in government (in particular in low- and middle-income countries), as well as within development banks like the EBRD.
Training Opportunities
A comprehensive package of training will be agreed in consultation with the supervisors. Elements of training will be provided by the supervisors, Royal Holloway, and by other providers. The successful candidate will be hosted at the Department of Economics at Royal Holloway and will frequently visit and engage with the EBRD’s Office of the Chief Economist in central London. In the first year, the successful candidate will join the thriving doctoral training program offered by the department to supplement their economics and econometrics skills, as well as training courses provided by SENSS.
Applicants: essential and/or desirable attributes/skills
We are looking for a high-calibre Msc graduate in economics or related disciplines, with a strong quantitative background and a talent for effective communication.
Studentship Details:
• This studentship can be taken as a +3 award (a three-year PhD)
• It may be taken full-time or part-time
• The studentship award covers your university fees, and provides you with a stipend of £17,285 per year. You will also be able to apply for small amounts of additional funding via the SeNSS Research Training Support Grant.
Residential eligibility
• To be eligible for a full award you must be a Home or International student who satisfies the criteria below:
To be a home student, you must meet the following criteria:
• Be a UK national (meeting residency requirements), or
• Have settled status, or
• Have pre-settled status (meeting residency requirements), or
• Have indefinite leave to remain or enter.
If you do not meet any of the criteria above, you are classed as an international student.
How to apply for this studentship
In order to be considered for this SeNSS studentship, you must first apply for a place to study at Royal Holloway, University of London, noting that you are applying for the collaborative studentship. Please go to Royal Holloway, University of London, How to apply for information on how to make your application.
You will then need to make a separate application to SeNSS for this collaborative studentship. Please read the SeNSS Collaborative Studentship Application Guidance Notes before completing our online application form. The Guidance Notes are available at the bottom of the following webpage: Applying for a SeNSS collaborative studentship
Starting date: On or about 1 October 2021.