Pre-Announcement - Climate and Environmental Risk Analytics for Resilient Finance

NERC will shortly be inviting proposals for the first funding call as part of the NERC and Innovate UK Climate and Environmental Risk Analytics for Resilient Finance (CERAF) programme.

The aim of this call is to drive research and innovation (R&I) to develop capability and capacity in climate and environmental risk (CER) analytics to serve the needs of the financial services sector. R&I under this call will focus on a specific set of use-cases for financial services users e.g. asset management, banking, pensions etc. It will demonstrate impact from improved understanding and reporting of risk underpinned by robust science to enhance the resilience of the financial system to the increasing impact of environmental variability and change

The call will invite proposals from UK Research Organisations with demonstrable current relationships with relevant finance sector stakeholders and depth of understanding of demand for CER analytics. The successful RO will lead R&I activity from across multiple disciplines (and institutions where appropriate) including finance and economics, earth systems science, systems science, mathematics and statistics, engineering, and computer and data sciences. Outputs are expected to include enhanced CER analytics information and tools, and the development of a platform for the open-access provision of this information in decision-relevant formats.

This initial call will be followed by an Innovate UK funded competition to accelerate the development of an ecosystem of small, medium and large private sector enterprises to deliver value-adding analytics and reporting products and services, using the open-access CER information developed by the NERC-funded research. Subject to spending review outcomes, up to £10M will be available under the programme in total between 2020/21 and 2024/25.  


Individuals in approved UK Higher Education Institutions, Research Council Institutes, and Independent Research Organisations are eligible to apply for programme funds. More information on eligibility will be available in the Announcement of Opportunity (AO).


Note all dates are indicative and subject to change.

  • NERC AO release: February 2020
  • Full proposal submission deadline: May 2020
  • Panel assessment: June 2020
  • Project to start by: October 2020