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Dr Ben Caldecott

Director, Oxford Sustainable Finance Group and the Lombard Odier Associate Professor and Senior Research Fellow

Profile

Dr Ben Caldecott is the founding Director of the Oxford Sustainable Finance Group at the University of Oxford Smith School of Enterprise and the Environment. At the University of Oxford, he is the inaugural Lombard Odier Associate Professor of Sustainable Finance, the first ever endowed professorship of sustainable finance, and a Supernumerary Fellow at Oriel College, Oxford. Ben is also the founding Director and Principal Investigator of the UK Centre for Greening Finance & Investment (CGFI), established by UK Research and Innovation in 2021 as the national centre to accelerate the adoption and use of climate and environmental data and analytics by financial institutions internationally. He is a Visiting Professor at the Wealth Management Institute in Singapore.

Ben specialises in environment, energy, and sustainability issues and works at the intersection between finance, public policy, and academe, having held senior roles in each domain. He has authored and edited a substantial number of publications related to sustainability and is an experienced media commentator and public speaker. His expertise and expert evidence have been recognised in high profile legal cases, including in the Federal Court of Australia and the High Court of England and Wales. He is a regular peer reviewer and has a number of trustee, board, and advisory panel appointments, including serving as a Trustee of the Royal Society for the Protection of Birds (RSPB) and on the UK Climate Change Committee’s Adaptation Committee, as well as on DBS Bank’s Board Sustainability Committee, UK Export Finance’s Export Guarantees Advisory Council, and the Science Based Targets initiative (SBTi) Technical Council.

He has conceived and initiated a series of successful organisations, initiatives, and programmes related to sustainable finance. Ben founded and served for six years as the inaugural Co-Chair of the Global Research Alliance for Sustainable Finance and Investment (GRASFI), an alliance of global research universities promoting rigorous and impactful academic research on sustainable finance. He is Chair of the Judging Panel for the annual Insight Investment – University of Oxford Prize for Greening Finance, endowed in perpetuity to celebrate, showcase, and financially reward world-leading research and public service to green the global financial system. He established and leads the Sustainable Finance Theme at The Alan Turing Institute and initiated the Spatial Finance Initiative, which aims to mainstream geospatial capabilities enabled by space technology and data science into financial decision-making globally. He co-founded and serves on the board of the Commonwealth Climate and Law Initiative (CCLI), which is examining the legal basis for directors and trustees to consider, manage, and report on climate-related risk, and the circumstances in which they may be liable for failing to do so. He established and is the Faculty Chair of the Public and Third Sector Academy for Sustainable Finance (P3SA) at the University of Oxford, a global centre of learning on sustainable finance for the public and third sectors. Ben is also a Co-Director for the Leverhulme Centre for Nature Recovery where he leads its work on finance.

Ben is Co-Head of the Secretariat for the high-level Transition Plan Taskforce established by HM Treasury in 2022. From 2019, he was seconded part-time to the UK Cabinet Office for two years to work on COP26 in Glasgow as the COP26 Strategy Advisor for Finance. He has also served on the US Commodity Futures Trading Commission’s Climate-Related Market Risk Subcommittee, the UK Government’s Green Technical Advisory Group, and in his capacity as a Member of the UK Green Finance Taskforce, chaired its Workstream on Task Force on Climate-related Financial Disclosures (TCFD) Implementation. He serves on the World Economic Forum’s Global Future Council on the Future of Sustainable Tourism.

Ben is an advisor to financial institutions across different parts of the financial system internationally, including as a Senior Advisor at Global Infrastructure Partners and by serving on Neuberger Berman’s ESG Advisory Council, Columbia Threadneedle Investments’ Responsible Investment Advisory Council, ATLAS Infrastructure Partners’ Climate Advisory Board, and Climate Impact X’s International Advisory Council. 

Ben teaches and supervises a wide range of students at the University of Oxford and beyond. In addition to supervising Ph.D./D.Phil. students, he established and leads B.A., M.Sc., and M.Phil. options and electives on finance and sustainability. He is an experienced lecturer and tutor and has created and course directs a number of executive education courses at Oxford each year, including the Sustainable Finance Executive Programme. He contributes to training and capacity building across different finance professions internationally, including as the Academic Advisor to the CFA UK Certificate in Climate and Investing and as lead author of the Global Association of Risk Professional’s Sustainability and Climate Risk Certificate textbook. He has previously served as an Academic Associate at the Chartered Banker Institute and on the Institute and Faculty of Actuaries’ ESG Investment Working Party. He serves on the judging panel for the annual Banque de France Prize for Young Researchers in Green Finance and has done so since its creation in 2018.

Prior to joining the University of Oxford, he was a Vice President at investment bank Climate Change Capital, one of the early leading asset management and advisory firms focused on the net zero carbon transition, where he ran the firm’s research centre and advised clients and funds on the development of policy-driven markets. Ben has previously worked as Research Director for Environment and Energy at the think tank Policy Exchange; as Head of Government Advisory at Bloomberg New Energy Finance; as a Director in the Strategy Directorate of the UK’s Department for Environment, Food and Rural Affairs (on secondment); as a Deputy Director in the Strategy Directorate of the UK’s Department of Energy and Climate Change (on secondment); as an Advisor to The Prince of Wales’ International Sustainability Unit; as Sherpa to the UK Green Investment Bank Commission; and as the Senior Advisor to the Chair and CEO of the UK Green Finance Institute. He also served as a Trustee of the Green Alliance from 2010 to 2022.

Ben holds a doctorate in economic geography from the University of Oxford. He initially read economics and specialised in development and China at the School of Oriental and African Studies, University of London, and the University of Cambridge. He has been an Academic Visitor at the Bank of England, a Visiting Scholar at Stanford University and Peking University, and held Visiting Fellowships at the University of Oxford, the University of Sydney, and the University of Melbourne. He is an Associate Editor of the Journal of Sustainable Finance & Investment. Ben is also a Senior Fellow at the Oxford Martin School, a Senior Fellow at Policy Exchange, and a Non-Resident Fellow at the Payne Institute for Earth Resources at the Colorado School of Mines.

Projects

 

Teaching

Current Graduate Research Students

  • Moritz Baer | Climate risk scenario analysis and the role of central banks and supervisors
  • José Luis Reséndiz | Transition finance principles. Stakeholders, products, incentives, metrics and targets
  • Christian Wilson | Paris Aligned Portfolios and the Real Economy
  • James Linsley-Parrish | The Future of Engagement: an investigation into optimal engagement practices and the potential for alpha generation
  • Rachel Williams | Are primary market transactions allocating capital to companies that are aligned to the Paris Agreement?
  • Stephanie Walton | The risk of stranded assets in food infrastructure from the transition to sustainable diets
  • Swiss Pongpech | Stranded assets in downstream SMEs in Thailand: assessing risks and resilience

Recent graduate research students (since 2021)

  • Alex Clark | Completed DPhil in 2023 | Motives beyond markets: State ownership, stranded assets, and decarbonisation in the power sector
  • Galina Alova | Completed DPhil in 2022 | The low-carbon transition of the global electricity sector
  • Lucas Kruitwagen Completed DPhil in 2021 | Technology, information, and the governance of environmental risk

 

Selected publications

Journal articles

Special / Edited collections

  • Diaz-Rainey, I., Corfee-Morlot, J., Volz, U., & Caldecott, B.L. (co-editor, 2023) Green finance in Asia. Climate Policy. Vol. 23, No. 1. Taylor & Francis (Abingdon, UK). 
  • Caldecott, B.L. (editor, 2017) Stranded assets and the environment. Journal of Sustainable Finance & Investment. 7:1, 1-138 Taylor & Francis (Abingdon, UK).
  • Caldecott, B.L. (2017) Stranded assets and the environment. Journal of Sustainable Finance and Investment, 7(1): 1-138.

Books

  • Caldecott, B.L. (editor, 2018) Stranded assets and the environment: risk, resilience, and opportunity. Routledge (London, UK). Forewords by Lord Stern of Brentword and Achim Steiner. ISBN: 978-1-138-12060-0
  • Caldecott, B.L. (editor, 2018) Stranded assets: developments in finance and investment. Routledge (London, UK). ISBN: 978-1-138-57423-6

Book chapters

 

Reports and working papers

  • Zhou, X., Wilson, C., Limburg, A., Shrimali, G., & Caldecott, B.L. (2023) The energy transition and changing cost of capital: 2023 review. Report. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Ranger, N., Bloomfield, H., Caldecott, B.L., & Clacher, I. (2023) Learning from the 2021/22 Climate Biennial Exploratory Scenario (CBES) exercise in the UK: recommendations for central banks, supervisors, financial institutions and researchers. UK Centre for Greening Finance & Investment. 
  • Caldecott, B.L., Thomae, J., Mitchell, J., & Scott, M. (2022) How can net zero finance best drive positive impact in the real economy. Discussion Paper. Finance Sector Expert Group for Race to Zero and Race to Resilience, UN High-Level Champions for Climate Action. 
  • Caldecott, B.L., Clark, A., Harnett, E., Koskelo, K., Wilson, C., & Liu, F. (2022) Sustainable finance and transmission mechanisms to the real economy. Working Paper No 22-04. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK). ISSN 2732-4214
  • Baer, M., Kastl., Kleinnijenhuis, A., Thomä, J. & Caldecott, B.L. (2021) The cost for the financial sector if firms delay climate action. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK) and 2° Investing Initiative (Berlin, Germany).
  • Wilson, C., Limburg, A., & Caldecott, B.L. (2021) Implications of the International Energy Agency Net Zero Emissions by 2050 Scenario for net zero committed financial institutions. Briefing Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Hähl, T., Kube, M., Schütze, F., den Hamer, J., van der Zee, R., Bouveret, G., Caldecott, B.L., Harnett, E., Schumacher, S., Stolbova, V., Battiston, S., Bingler, J., & Liesch, T. (2021) Carbon Bubble: analyses, economic risks, measures, and instruments. Report No. FB000243/ENG. German Environment Agency (Berlin, Germany). ISSN 1862-4804. 
  • Wilson, C. & Caldecott, B.L. (2021) Breaking the bond: primary markets and carbon-intensive financing. Working Paper No 21-05. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK). ISSN 2732-4214
  • Zhou, X., Caldecott, B.L., & Wilson, C. (2021) The energy transition and changing financing costs. Report. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Schönauer, A., Thomä, J., Caldecott, B.L., Spuler, F., & Honneth, J. (2021) Financial supervision beyond the business cycle: towards a new paradigm. Report. 2° Investing Initiative (Berlin, Germany).
  • McAleenan, B. & Caldecott, B.L. (2021) Capital shift: using the UK’s COP26 and G7 presidencies to green the financial system. Policy Exchange (London, UK). Foreword by Anthony Browne MP. ISBN: 978-1-913459-59-8 
  • Shibao, P. & Caldecott, B.L. (2020) Physical climate-related risks facing airports: an assessment of the world’s largest 100 airports. Briefing Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Allen, M., Axelsson, K., Caldecott, B.L., Hale, T., Hepburn, C., Hickey, C., Mitchell-Larson, E., Malhi, Y., Otto, F., Seddon, N., & Smith, S. (2020) The Oxford Principles for Net Zero Aligned Carbon Offsetting. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK). 
  • Caldecott, B.L. (2020) Achieving Alignment in Finance. Report. United Nations Environment Programme Finance Initiative (Geneva, Switzerland) and EIT Climate-KIC (Belgium, Brussels). 
  • Zhou, X., Caldecott, B.L., Hoepner, A., & Wang, Y. (2020) Bank Green Lending and Credit Risk: An Empirical Analysis of China’s Green Credit Policy. Working Paper No 20-08. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK). ISSN 2732-4214
  • Zhou, X., Caldecott, B.L., Harnett, L., & Schumacher, K. (2020) The effect of firm-level ESG practices on macroeconomic performance. Working Paper No 20-03. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK). ISSN 2732-4214
  • Caldecott, B.L. & Harnett, E. (2019) One Planet Sovereign Wealth Funds: Turning Ambition into Action. Briefing Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Thomä, J., Caldecott, B.L., & Ralite, S. (2019) Sustainability Improvement Loans: a risk-based approach to changing capital requirements in favour of sustainability outcomes. Report. 2° Investing Initiative (Paris, France) & Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L. (2018) Water infrastructure for climate adaptation: the opportunity to scale up funding and financing. Report. World Water Council (Marseille, France) and Global Water Partnership (Stockholm, Sweden).
  • Caldecott, B.L., Kruitwagen, L., McCarten, M., Zhou, X., Lunsford, D., Marchand, O., Hadjikyriakou, P., Bickel, V., Sachs, T., & Bohn, N. (2018) Climate risk analysis from space: remote sensing, machine learning, and the future of climate-related risk. Report. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK), Carbon Delta (Zurich, Switzerland), and German Research Centre for Geosciences (Berlin, Germany).
  • Caldecott, B.L. & Ives, E (editors, 2018) Conservation nation: protecting and restoring the natural world. Bright Blue (London, UK). ISBN: 978-1-911128-39-7
  • Caldecott, B.L., Ives, E., & Holmes, M. (2018) Saving global nature: greening UK Official Development Assistance. Bright Blue (London, UK) and Conservative Environment Network (London, UK). ISBN: 978-1-911128-81-6
  • Caldecott, B.L., Dericks, G., Bouveret, G., Schumacher, K., Pfeiffer, A., Tulloch, D., Kruitwagen, L., & McCarten, M. (2018) Asset-level data and the energy transition. Report. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Holmes, I., Kruitwagen, L., Orozco, D., & Tomlinson, S. (2018) Crude awakening: making oil major business models climate-compatible. Report. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK), E3G (London, UK), and Chatham House (London, UK).
  • Caldecott, B.L., Tulloch, D., Bouveret, G., Pfeiffer, A., Kruitwagen, L., McDaniels, J., & Dericks, G. (2017) The fate of European coal-fired power stations planned in the mid-2000s: insights for policymakers, companies, and investors considering new coal. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Harnett, E., & MacDonald-Korth, D. (2017) Ultra High-Net-Worth Individuals (UHNWIs), private banks, and sustainable finance. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott. B.L., Saygin, D., Rigter, J., & Gielen, D. (2017) Stranded assets and renewables: how the energy transition affects the value of energy reserves, buildings, and capital stock. International Renewable Energy Agency (Abu Dhabi, UAE).
  • Caldecott, B.L., Bouveret, G., Dericks, G., Tulloch, D., Liao, X., Kruitwagen, L., & Bouveret, B. (2017) Stranded assets and thermal coal in China: an analysis of environment-related risk exposure. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Bouveret, G., Dericks, G., Kruitwagen, L., Tulloch, D., & Liao, X. (2017) Managing the political economy frictions of closing coal in China. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Dericks, G., Pfeiffer, A., & Astudillo, P. (2017) Emerging Risk Report 2017: stranded assets - the transition to a low carbon economy. Innovation Series: Society and Security. Lloyd’s of London (London, UK).
  • Caldecott, B.L. & Kruitwagen, L. (2016) How asset-level data can improve the assessment of environmental risk in credit analysis. Guest Opinion, 3rd October 2016. Ratings Direct, Standard & Poor’s Global Ratings (New York, USA).
  • Caldecott, B.L. & Urwin, R. (2016) Avoiding long-term value destruction: a conversation. The Investec Investment Institute Journal, Vol. 4, October 2016.
  • Kruitwagen, L., Harnett, L, & Caldecott, B.L. (2016) Ultra High-Net-Worth Individuals, private banks, and the state of sustainable investment, 5th Stranded Assets Forum, Waddesdon Manor, 15th April 2016. Summary of Proceedings. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Harnett, E., Cojoianu, T., Kok, I., & Pfeiffer, A. (2016) Stranded assets: a climate risk challenge. Report. Inter-American Development Bank (Washington, D.C., USA).
  • Hall, S., & Caldecott, B.L. (2016) Better homes: incentivising home energy improvements. Bright Blue (London, UK). ISBN: 978-1-911128-21-2
  • Morel, A., Friedman, R., Tulloch, D., & Caldecott, B.L. (2016) Stranded assets in palm oil production: a case study of Indonesia. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L. (2016) Keeping the lights on: security of supply after coal. Bright Blue (London, UK). ISBN: 978-1-911128-10-6
  • Dupre, S., Thomä, J., Weber, C., & Caldecott, B.L. (2016) Climate disclosure: how to make it fly. 2 Degrees Investing Initiative (Paris, France) and Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Dericks, G., Tulloch, D., Kruitwagen, L., & Kok, I. (2016) Stranded assets and thermal coal in Japan: an analysis of environment-related risk exposure. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK). 
  • Kruitwagen, L., MacDonald-Korth, D., & Caldecott, B.L. (2016) Environment-related risks and the future of prudential regulation and financial conduct, 4th Stranded Assets Forum, Waddesdon Manor 6th March 2015. Summary of Proceedings. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Kruitwagen, L., Dericks, G., Tulloch, D., Kok, I., & Mitchell, J. (2016) Stranded assets and thermal coal: an analysis of environment-related risk exposure. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK). ISBN: 978-0-9927618-2-0
  • Jepson, P., Caldecott, B.L., Milligan, H., & Chen, D. (2015) A framework for Protected Area asset management. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L. & Dericks, G. (2015) Making climate policy more like monetary policy: calibrating climate policy through corporate solvency. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L. (2015) Stranded assets and Multilateral Development Banks. Report. Inter-American Development Bank (Washington, D.C., USA).
  • Caldecott, B.L. & Rook, D. (2015) Investment consultants and green investment: risking stranded advice? Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Rook, D. & Caldecott, B.L. (2015) Cognitive biases and stranded assets: detecting psychological vulnerabilities within International Oil Companies. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L. (2015) Green and responsible conservatism: embedding sustainability and long-termism within the UK economy. Bright Blue (London, UK). Foreword by Lord Howard of Lympne. ISBN: 978-1-911128-07-6
  • Caldecott, B.L. & Rook, D. (2015) Investment consultants and green investment, 3rd Stranded Assets Forum, Waddesdon Manor 6th March 2015. Summary of Proceedings. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott B.L., Dericks, G. & Mitchell, J. (2015) Subcritical coal in Australia: risks to investors and implications for policy makers. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Dericks, G. & Mitchell, J. (2015) Stranded assets and subcritical coal: the risk to companies and investors. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK). ISBN: 978-0-9927618-1-3
  • Rook, D. & Caldecott, B.L. (2015) Evaluating capex risk: new metrics to assess extractive industry project portfolios. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott B.L., Workman, M. & Lomax, G. (2015) Stranded Carbon Assets and Negative Emissions Technologies (NETs). Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK). 
  • Caldecott, B.L. & Jepson, P. (2014) Towards a framework for Protected Area asset management. Discussion Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Clark, G.L., Blowfield, M., McElroy, C., Caldecott, B.L., McSharry, P., McDaniels, J., Tilbury, J., Krosinsky, C. & Chachoua, E. (2014) A new vision of value: connecting corporate and societal value creation. KPMG International (Amsterdam, The Netherlands). 
  • Caldecott, B.L., Rook, D. & Ashwin, J. (2014) Endowments and fossil fuels, 2nd Stranded Assets Forum, Waddesdon Manor 4th September 2014. Summary of Proceedings. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L. & Robins, N. (2014) Greening China’s financial markets: the risks and opportunities of stranded assets. Briefing Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L. & McDaniels, J. (2014) Financial dynamics of the environment: risks, impacts, and barriers to resilience. Working Paper for the UNEP Inquiry into the Design of a Sustainable Financial System. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., McDaniels, J. & Dericks, G. (2014) Stranded Assets Forum, Waddesdon Manor 14th – 15th March 2014. Summary of Proceedings. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L. & McDaniels, J. (2014) Stranded generation assets: implications for European capacity mechanisms, energy markets and climate policy. Working Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Tilbury, J. & Carey, C. (2014) Stranded assets and scenarios. Discussion Paper. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Tilbury, J. & Ma, Y. (2013) Stranded Down Under? Environment-related factors changing China’s demand for coal and what this means for Australian coal assets. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK). ISBN: 978-0-9927618-0-6
  • Caldecott, B.L. & Elders, G. (2013) Bloomberg Carbon Risk Valuation Tool. White Paper, 25th November 2013. Bloomberg New Energy Finance (London, UK). 
  • Kaminker, C., Kawanishi, O., Stewart, F., Caldecott, B.L. & Howarth, N. (2013) “Institutional investors and green infrastructure: selected case studies”. OECD Working Papers on Finance, Insurance and Private Pensions, No. 35. Organisation for Economic Co-operation and Development (Paris, France).
  • Ansar, A., Caldecott, B.L. & Tilbury, J. (2013) Stranded assets and the fossil fuel divestment campaign: what does divestment mean for the valuation of fossil fuel assets? Smith School of Enterprise and Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Howarth, N. & McSharry, P. (2013) Stranded assets in agriculture: protecting value from environment-related risks. Smith School of Enterprise and the Environment, University of Oxford (Oxford, UK).
  • Caldecott, B.L., Herbertson, P. & Morton, T. (2013) Perpetuity Funds: new permanent capital structures to finance climate-compatible development. Climate Change Capital (London, UK).
  • Jones, A., Allen, I., Silver, N., Howarth, C., Cameron, C. & Caldecott, B.L. (2013) Resource constraints: sharing a finite world - implications of limits to growth on the actuarial profession. The Actuarial Profession (London, UK) and Anglia Ruskin University Global Sustainability Institute (Cambridge, UK).
  • McGlashan, N., Workman, M., Caldecott, B.L. & Shah, N. (2012) Briefing paper number 8: negative emissions technologies. Grantham Institute for Climate Change, Imperial College London (London, UK).
  • Caldecott, B.L. & Dickie, I. (2011) Habitat banking: scaling up private investment in the protection and restoration of our natural world. Climate Change Capital (London, UK) and eftec (London, UK). Foreword by Stanley Johnson. 
  • Edwards, R., Caldecott, B.L. & Gray, S. (2011) Signal failure? Real economy signals for developing country climate finance and the future of the Green Climate Fund. Climate Change Capital (London, UK).
  • Caldecott, B.L. (2010) Green Infrastructure Bonds: accessing the scale of low cost capital required to tackle climate change. Climate Change Capital (London, UK).
  • Caldecott, B.L. & Lingard, T. (editors, 2010) Conservatism in a changing climate. Green Alliance (London, UK). ISBN: 978-1-905869-27-5
  • Caldecott, B.L. & McIlveen, R. (editors, 2010) At a rate of knots: improving public transport on the River Thames. Policy Exchange (London, UK). ISBN: 978-1-906097-56-1
  • Helm, D., Wardlaw, J. & Caldecott, B.L. (2009) Delivering a 21st century infrastructure for Britain. Policy Exchange (London, UK). ISBN: 978-1-906097-55-4
  • Caldecott, B.L. & Tooze, S. (2009) Green skies thinking: promoting the development and commercialisation of sustainable bio-jet fuels. Research Note. Policy Exchange (London, UK).
  • Caldecott, B.L. (editor, 2009) A wasted opportunity: getting the most out of Britain’s bins. Policy Exchange (London, UK). ISBN: 978-1-906097-52-3
  • Caldecott, B.L. & McIlveen, R. (2009) Knowledge is power: securing transparency in Britain’s liberalised energy market. Research Note. Policy Exchange (London, UK).
  • Caldecott, B.L. (editor, 2009) Litterbugs: how to deal with the problem of littering. Campaign to Protect Rural England (London, UK) and Policy Exchange (London, UK). Foreword by Bill Bryson. ISBN: 978-1-906097-42-4
  • Caldecott, B.L. & Sweetman, T. (2009) Warm homes: delivering energy efficiency improvements in the UK. Research Note. Policy Exchange (London, UK).
  • Caldecott, B.L. (editor, 2008) The root of the matter: carbon sequestration in forests and peatlands. Policy Exchange (London, UK). ISBN: 978-1-906097-31-8

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