Investing in the low carbon agenda- perspectives from the UK, Germany and Ireland

Post summary

Europe is at a critical juncture in its climate change agenda with ambitious targets of close to zero net emissions by 2050 following the adoption of the 2015 Paris Agreement whilst coping with sluggish economic growth. Investing in low-carbon infrastructure and technologies are fundamental to achieving these aims with private sector investment vital to the funding process. Central to this are institutional investors, now an emerging force in low carbon investing.

Applications are invited for a researcher who will explore the key influences underpinning such investors decision making processes in low carbon across three jurisdictions; Ireland, UK and Germany. Deploying a novel approach, the researcher will draw on both traditional and behavioral finance theories in gaining insights into the ‘why’, ‘how’ and ‘where’ investors channel money into low carbon, mindful of the inherent risks in an established low carbon economy (Germany), a growing and emerging one (UK and Ireland respectively). Furthermore the researcher will investigate the pertinent factors which are driving the new models and instruments for private sector financing of projects such as those offered by governments and multilateral development banks –this includes approaches for channeling debt and equity into low carbon investments (where institutional investors would have exposure to the equity but with the reassurance of having a technically experienced bank involved alongside them).

The researcher will deploy a mixed methods approach including documentary analysis and semi structured interviews with a representative sample of investment managers and policy makers across the three countries. This will involve travelling across the three domains.

The research will generate findings which are of relevance to a wide range of stakeholders including practitioners, policy makers, academics and society as a whole and will also serve the basis for inter-disciplinary research in environmental finance in the future. It addresses one key dimension in this multifaceted low carbon debate and aims to glean insights into the economics of sustainability. It will add to our understanding of the interplay of forces at work in the eyes of investors, an unexplored area of research to date and with a greater understanding of what influences investors, should serve as a basis for improving existing low carbon policies.

This research will involve close collaboration with the co-funder, AIB Bank and there will be a number of formal review sessions with them over the four year period. The working language of the project will be in English.

Standard duties and responsibilities of the scholarship
• Scope out and plan the research activity from the outset to completion
• Identify, examine, critically review, synthesise both academic and policy literature from a myriad of sources
• Attend all relevant training and courses deemed suitable to building their research capacity/networks
• Participate in appropriate conferences, doctoral colloquiums and seminars in agreement with the supervisory team
• Maintain regular contact with the supervisory team and regular liaison with the mentor at the co-funding agency.
• Adhere to deadlines and make draft submissions of material for review in advance of meeting the supervisory team.
• Obtain, reflect upon and act upon feedback received throughout the research process
• Act in a professional manner in all interactions with key stakeholders and relevant consortia
• Maintain confidentiality with respect to all interactions and data in line with good research practice
• Undertake academic development activities such as teaching as assigned by the Head of Department
• Familiarise themselves with the Quality Assurance Guidelines of Waterford IT which apply to research
• Uphold the academic and research integrity of the AIB Centre for Finance and Business Research, the Business School and the Institute
• Willing to contribute to AIB Centre for Finance and Business Research and undertake additional duties as required, such as hosting conferences, seminars, events and updating the Centre’s website.

Knowledge & Experience

Essential

• Previous research experience with an understanding of the research process and various methodologies.

Desirable

• Knowledge and experience of econometric techniques

Skills & Competencies

Essential

• A high standard of academic report writing
• Excellent analytical skills, problem solving and project management skills
• Evidence of strong initiative and capacity to work independently
• Good interpersonal skills including oral communication and presentation competencies
• Highly motivated and self-directed with good time and project management skills
• Willing to travel in order to conduct interviews both nationally and internationally and attend/present at conferences also.

Desirable

• Must be capable of working in a team and working under pressure