Bank of America has pledged £1.2m to the University of Oxford to support three years of greenhouse gas and sustainable finance research at the Smith School of Enterprise and the Environment.
One team of researchers will be based at the Greenhouse Gas Removal Hub (CO₂RE), focussing on taking greenhouse gases back out of the air in ways that are economically, socially, and environmentally scalable. This research hub is an Oxford-led consortium directed by Dr Stephen Smith.
The other research team will be based at both the Oxford Sustainable Finance Group at the Smith School and the UK Centre for Greening Finance and Investment (CGFI). They will focus on spatial finance and the integration of nature-related factors into financial decision-making. The Group and CGFI are both led by Dr Ben Caldecott.
Bernard Mensah, president of international at Bank of America said: “Successful partnerships between business, academia and governments are critical if we are to accelerate the transition to sustainable, secure and affordable energy and bring forward the path to net zero.”
Professor Cameron Hepburn, director of the Smith School of Enterprise and the Environment, added: “This partnership will enable us to expand Smith School research in sustainable finance and greenhouse gas removal, both of which are critical as we move from an era of climate change debate, to one of action.”
