[Tax-free stipend of £20,780 per annum for 3 years plus university tuition fees. Funding is competitive and subject to university approval.]

This fully funded PhD studentship at Loughborough University investigates the institutional, financial, and behavioural determinants of bankability in climate mitigation and adaptation projects. The research addresses the challenge of mobilising private and blended finance for low-carbon and climate-resilient infrastructure, a critical need for sustainable development. Many climate projects struggle to reach financial close due to uncertainty, weak risk allocation, institutional constraints, and misaligned incentives. This project aims to develop a practical framework linking project design choices to financing outcomes, drawing on project finance theory, climate finance, and behavioural decision-making.

Students will employ a mixed-methods approach, including literature review, interviews with financiers and project developers, analysis of climate project datasets, and case studies. The goal is to generate both academic insight and actionable guidance for policymakers, investors, and project sponsors, ultimately supporting the transition to more sustainable and resilient economies.

Supervision is provided by Professor Martin Tuuli and Dr Freeman Owusu, offering expertise in finance, business, and climate-related research. The studentship is based in the Business School at Loughborough University, a leading UK institution known for its research excellence and supportive academic environment.

Funding includes a tax-free stipend of £20,780 per annum for three years, plus university tuition fees. Funding is awarded competitively and subject to university approval. Applicants must hold at least a 2:1 honours degree (or international equivalent) and a UK master's degree with an average mark of no less than 65% (or equivalent). Minimum English language requirements apply.

To apply, candidates should prepare a research proposal (2500–3000 words) and share it with the supervisors for feedback and support. Applications are submitted online via the university portal, selecting 'Business School' as the programme name. Required documents include the research proposal, transcripts/certificates, English language certificate, and contact details for two academic references (one from the most recent degree). Please quote project reference number LB26-MT/FO. The application deadline is 27 February 2026.

This opportunity is ideal for candidates interested in climate finance, sustainable infrastructure, and the intersection of institutional and behavioural factors in project development. Successful applicants will contribute to advancing knowledge and practice in climate project bankability, with the potential for significant impact on policy and investment strategies.