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The Climate Investment Challenge calls on students to develop and describe creative financial solutions and innovations addressing the defining challenge of our time – climate change. This could include identifying untapped climate finance opportunities or developing innovative financial structures or instruments that improve the bankability of climate investments.
There is no single right answer. In the battle against climate change and its impacts, ideas across all sectors, topics, and regions are important!
The planet has a carbon budget of approximately 420 gigatons (GT) - this is the amount of carbon emissions we can emit while having a chance to limit global temperature rise to 1.5C. Unfortunately with the current rate of carbon emissions, we will exhaust our carbon budget in the next 6 years. Mitigating climate change involves rapidly scaling up investment in climate mitigating and adaption projects. Bloomberg New Energy Finance (BNEF) estimates average investment requirements to be between $3.1 trillion and $5.8 trillion per year until 2050.
That’s why we need your ideas to scale climate finance and fight against climate change!
The Main Competition Prize is focused on financial tools that exist today (e.g., loans, derivatives, REITs, bonds) to address a specific climate problem that is currently underserved. The winning team will be awarded £10,000.
The Emerging Markets Prize is focused on financial tools that exist today (e.g., REITs, bonds) to address a specific Emerging Markets climate problem that is currently underserved. The winning team will be awarded £6,000.
The Financial Disruption Prize is for ideas that harness technology to disrupt the financial industry (e.g., banking, insurance etc.) and solve climate problems at scale. The winning entrepreneurial idea will be able to utilise the prize money to develop a Minimum Viable Product (MVP). The winning team will be awarded £6,000.
The Data Analytics Prize is looking for creative ways to utilise existing climate and environmental datasets to improve the adoption of climate finance. Such ideas may help to integrate transition or physical climate risk into financial decision-making or develop novel green financial instruments. This can include the use of weather data, climate models, geospatial and satellite data. The winning team will be awarded £5,000.
Students enrolled in any degree at the time of the submission can participate. The challenge is open globally to students from all academic backgrounds. Undergraduate students may participate as long as the leader of the group is enrolled in a postgraduate degree. Students will have to form teams of 2 to 6 members. Students must apply with their student emails.
Deadline for concept notes submission: Friday 3 March 2023, 1159pm GMT/UK time (18:59 Colombian time)
Further information: website of the call; admin@climateinvestmentchallenge.com
La Vicerrectoría de Investigación no tiene más información acerca de esta convocatoria distinta a la publicada en los enlaces de esta nota.
[Boletín SIUN 620, 16/17 de febrero de 2023]