University academic a partner in EU green finance project

Posted on 18 September 2019

A University of York academic is a partner in an EU Commission funded project which aims to boost the uptake of renewable energy technology across Europe.

Dr Paola Zerilli from the Department of Economics is part of a network of public and private sector organisations involved in the XPRESS project. The project involves small and medium enterprises and the public sector to encourage innovations in Renewable Energy Sources technologies (RES). It will also develop financial tools to support the use of green technologies in European regions and municipalities.

XPRESS will study Green Public Procurement (GPP) - a system where public sector organisations
use their purchasing power to choose environmentally friendly goods and services - and will investigate how this type of procurement could create new markets and provide financial support for RES innovations.

Funding

Funded by the European Union’s Horizon 2020 Research and Innovation programme, the project will be launched in Brussels today on 20 September. The work will be coordinated by APRE – the Agency for the Promotion of European Research.

Dr. Zerilli is co-director of the MSc in Financial Engineering at York. Her main research area is energy economics with a focus on the analysis of the volatility of crude oil and natural gas derivatives and their interaction with the stock markets.

Her research has provided a substantial contribution to the elaboration of the XPRESS project proposal and to the networking process leading to the XPRESS partnership. She will contribute to the data collection, financial and statistical analysis of the barriers to investments in renewables and to the study of the interaction between fossil fuel price volatility and renewables market.

In her role of Scientific Coordinator of the project, she will also ensure that the various aspects of the project interact cohesively by supporting the integrity of the overall strategic vision.

Expertise

Dr Zerilli said: “The project draws on expertise from across ten European countries and sits at the centre of efforts to cut carbon emissions by increasing the development and uptake of technology based on renewable energy sources.”

XPRESS will map the low carbon energy needs of European cities and municipalities, it will analyse perceived and actual barriers to investments in RES innovations and it will develop new methodologies to evaluate the financial, economic and environmental impact of RES technologies.

The project will also collect good practice examples of financing tools for innovative renewable technologies focusing particularly on green procurement policies and will create a web platform to gather data, share information and match the needs of public and private organisations.

The first phase of the project will focus on selected cities and municipalities within the UK, Italy, Norway, Germany, Sweden, Spain, Denmark, Slovakia, Portugal and Belgium with the aim of involving other regions within those countries and across Europe as the work progresses. Follow this link for more information on the XPRESS project.