Dr Nicola Ranger leads the Resilience and Development Group at the ECI and is Director of the Resilient Planet Finance Lab. She is also Executive Director of the Oxford Martin Programme on Systemic Resilience, co-Director of the UKRI Integrating Finance and Biodiversity Programme and a Senior Research Fellow at the Institute for New Economic Thinking of the Oxford Martin School.

Her research addresses the measurement, valuing and integration of resilience, nature and sustainability within decision making, with a focus on finance and policy, and how to mobilise investment for sustainable, resilient and inclusive growth. She brings 20 years' experience across government, IFIs, private sector and academia and holds multiple advisory roles, including for the FCDO and the World Bank.

She works with governments, Central Banks, regulators, financial institutions and international organisations to provide analytics and evidence to inform finance and policy at all scales. Her research covers climate, nature, resilience, food, water and the SDGs with a strong finance, macro and public policy lens. She works predominantly in UK/Europe and emerging and developing economies.

Her interdisciplinary research brings a strong quantitative risk analytics, economics and decision science lens on issues such as assessing systemic risks, measuring the impact of investments, mobilising finance for sustainability, green fiscal policy, sustainable finance, financial regulation and supervision, the role international financial institutions and designing global crisis risk financing mechanisms.

Nicola also holds several leadership and advisory roles beyond Oxford, including: as a Senior Advisor for the Foreign, Commonwealth and Development Office (Deputy Director, Secondment) on Sustainable Finance and Resilience; co-Chair of the Resilient Planet Data Hub with the High Level Climate Change Champions, the UN and the Insurance Development Forum; a member of the TRASE Advisory Group; a member of the European Commission High Level Expert Group on Sustainable Finance in Low and Middle Income Economies; an Academic Visitor at the Bank of England; a member of the UK Green Taxonomy Advisory Group; an expert member of the UK Climate Financial Risk Forum working groups on Adaptation and Scenarios; a member of the Financial Systems Thinking Innovation Centre of the Institute and Faculty of Actuaries; and a former Senior Advisor to the World Bank. Nicola holds a Senior Visiting Research Fellowship at the Grantham Research Institute of the London School of Economics and Political Science and Cetex.

During her career, Nicola has been involved in founding many significant global initiatives both within and outside of academia, including the G20-V20 InsuResilience Global Partnership, the Global Shield Financing Facility, the Centre for Greening Finance and Investment and the Centre for Disaster Protection. Nicola joined the ECI from the Smith School of Enterprise and the Environment where she was Director, Climate and Environmental Analytics, UK Centre for Greening Finance and Investment, and Head of Sustainable Finance Research for Development in the Oxford Sustainable Finance Group. Prior to joining Oxford, Nicola held senior roles in the World Bank and DFID (now FCDO). In these roles, Nicola worked with financial institutions, Ministries of Finance, Central Banks, International Financial Institutions and regional institutions to strengthen fiscal and financial resilience to climate and other crises, strengthen financial sector development, mobilise finance for resilience and put in place local, national and international systems to strengthen resilience to shocks and crises. At DFID, she also worked to strengthen national early warning systems, shock-responsive systems and integrate climate adaptation and disaster risk management into national policy and investment. Nicola also has a professional background in insurance and catastrophe risk modelling and has been involved in establishing insurance-based mechanisms, contingent financing and regional risk pools protecting multiple countries.

Nicola began her career as a scientific advisor on climate mitigation and adaptation policy and researcher on the science, economics and policy of climate change. Nicola completed her postdoctoral research in climate economics and policy at the London School of Economics and Political Science and holds a doctorate in Atmospheric Physics from Imperial College London. In 2005/06, she was part of the HMT/Cabinet Office Stern Review on the Economics of Climate Change team and has worked as a Scientific Advisor at Defra, HM Treasury and the Parliamentary Office of Science and Technology. She has published extensively and contributed to major reports including two UK National Climate Change Risk Assessments, the first UNEP Emissions Gap Report, and reports of the Intergovernmental Panel on Climate Change.




  • Ranger, N., Alvarez J., Freeman, A., Harwood, T., Obersteiner, M., Paulus, E. and Sabuco, J. (2023). The Green Scorpion: the Macro-Criticality of Nature for Finance – Foundations for scenario-based analysis of complex and cascading physical nature-related risks. Oxford: Environmental Change Institute, University of Oxford.
  • Ranger, N., Clacher, I and Bloomfield, H. (2023). Learning from the 2021/22 Climate Biennial Exploratory Scenario (CBES) Exercise in the UK: Survey Report. Climate Financial Risk Forum Guide 2023. Collaboration between the UK Centre for Greening Finance and Investment and the Climate Financial Risk Forum.
  • Ranger, N., Clacher, I., Bloomfield, H. and Caldecott, B. (2023). Learning from the 2021/22 Climate Biennial Exploratory Scenario (CBES) Exercise in the UK: Recommendations for Central Banks, Supervisors, Financial Institutions and Researchers. Working Paper, UK Centre for Greening Finance and Investment
  • Fankhauser, S.; Britz, K.; Dickie, I.; England, K.; Howarth, C. and Ranger, N. (2023). Case Studies in Adaptation Finance Working Paper, Smith School of Enterprise and the Environment, University of Oxford.
  • Marotta, F., Ranger, N. and Fankhauser, S. Securing climate compatible growth: the role of fiscal policy in driving the resilient transition through times of crisis. Working paper. Smith School of Enterprise and the Environment, University of Oxford (forthcoming)
  • Sadler, A., Ranger, N., Fankhauser, S., O'Callaghan, B. and Marotta, F. The impact of COVID-19 response spending on climate change adaptation and resilience. Submitted.
  • Sadler, A., Ranger, N., Fankhauser, S., O'Callaghan, B. and Marotta, F. Oxford Climate Adaptation and Resilience Taxonomy. Working paper. Smith School of Enterprise and the Environment, University of Oxford (forthcoming)



2020 to 2015

2015 to 2010

2010 and before

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