Decarbonising the world economy requires an unprecedented mobilisation and reallocation of capital. While most of the investment needed for the low-carbon transition must come from private actors, public finance is expected to play a catalytic role in steering capital towards renewable energy and other low-carbon assets, and away from fossil fuels. Yet, despite underpinning much of the international climate-finance architecture, the effectiveness of this approach remains surprisingly under-tested.

This PhD project asks: under what conditions does public climate finance steer private investment, and with what real-world effects on the energy transition? Against a backdrop of growing political resistance to decarbonisation and multilateral cooperation, the project will investigate whether public finance successfully mobilises additional private investment, how this varies across countries and sectors, and whether it ultimately contributes to fossil-fuel substitution and decarbonisation.

The student will undertake an original research project combining data collection and analysis with empirical investigation. They will develop a novel dataset of public and private climate finance, drawing on international organisations, government reports, corporate disclosures and energy-sector data.

They will use these data to investigate the relationship between public and private investment, identify the political and economic conditions under which public finance is most effective, and assess whether financial steering translates into meaningful changes in energy investment and fossil-fuel dependence. We would ideally welcome candidates with a quantitative research background, although applications from candidates with qualitative or mixed-methods backgrounds are also encouraged.

The project will contribute to international political economy and political science debates on climate politics, global economic governance and the role of states and international institutions in shaping private capital allocation. The successful candidate will have the opportunity to develop their research and methodological expertise while working towards publishable research with scholarly and policy relevance.

PG Certificate in Researcher Professional Development

PhD students at Strathclyde are required to undertake the PG Certificate in Researcher Professional Development, which is a formal credit-bearing academic award.

The award recognises and rewards the wide array of skills and experiences that postgraduate research students achieve during their PhD research.

Further information

The Department of Government & Public Policy (GPP) at the University of Strathclyde was ranked first overall in the UK for Politics in REF 2021. The successful candidate will benefit from a vibrant research environment, with opportunities to engage with leading research centres hosted at Strathclyde, including the Centre for Energy Policy (CEP) and the PLACE Lab for computational social sciences. These centres offer opportunities to connect research on climate and energy policy with wider debates in political economy, while engaging with innovative approaches to social-science research.

Interviews process:

Applications will be reviewed by a selection panel after the closing date and incomplete applications will not be considered.

• Applicants shortlisted for interview will be notified week-beginning 23 November 2026
• Interviews will be conducted w/b 30 November 2026
• The successful applicant must be able to commence study on 1 January or 1 April 2027