Science-Based Metrics for Sustainable Finance
| Reference number | |
| Coordinator | Göteborgs universitet - Göteborgs universitet Inst f filosofi lingv & vetensk teo |
| Funding from Vinnova | SEK 2 627 181 |
| Project duration | November 2023 - October 2025 |
| Status | Completed |
| Venture | Financial Market Research |
Important results from the project
We have successfully published important knowledge about how investments affect the environment and how this can be measured in different ways. One example is our research on which scientific variables are important to measure (EEIVs) and how these can be captured in a complex metric (ESI). Another example is our philosophical research on how the relevant impact is the counterfactual impact (about what makes a difference) rather than some attributional construct (about who "owns" the emissions).
Expected long term effects
The project is expected to provide a better understanding of how "sustainable" investments can and should be given a scientific basis. We have contributed to an increased academic interest in understanding and measuring the environmental impact of investments. We have also contributed to an increased understanding in the financial market and in society at large. We believe this may be particularly important in relation to the ongoing relaxation of the EU´s guidelines on environmental reporting.
Approach and implementation
We have worked across academic disciplines and developed both natural- and social-scientific models for the environmental impact of investments. We have then used these to develop new metrics with respect to both climate and biodiversity outcomes. We have begun the work of putting these measures into practice in collaboration with financial actors. We have also worked to spread knowledge about the importance of scientific grounding among politicians and other decision-makers.