November 17, 2025

Monetary Policy for a Just Macrofinancial Regime

CUSP partnering in new P4NE-funded project exploring how central banks can adapt monetary policy to support a green and just economic transition
November 2025

Image © Getty Images/instamatics (modified)

Researchers from the Centre for the Understanding of Sustainable Prosperity (CUSP) at the University of Surrey have secured funding from the Partners for a New Economy (P4NE) foundation for a new two-year research collaboration, Monetary Policy for a Just Macrofinancial Regime in an Era of Structural Change. The project, running from 1 December 2025 to 30 November 2027, has been awarded USD 300,000.

The initiative is led by David Barnes at the Centre for Economic Transition Expertise (CETEx) at the London School of Economics, with CUSP researcher Andrew Jackson leading the contribution at the University of Surrey. Other partners include Romain Svartzman and J. Christopher Proctor from the Institute for European Policymaking (IEP) at Bocconi University.

The research will explore how monetary policy in the European Union and the United Kingdom can support the transition to a greener and fairer economic system. It will address the need for central banks to adapt to structural shifts including climate change, technological transformation, geoeconomic fragmentation, inequality, and demographic change.

Through collaborative analysis, CETEx, CUSP, and IEP will develop scenario-based policy options for central banks to respond effectively to these challenges. The project aims to integrate inequality and environmental considerations into monetary policy design, strengthen coordination between monetary and fiscal policy, and contribute to the development of a green and just macrofinancial regime.

Further updates will be shared as the project progresses. For inquiries, please email info@cusp.ac.uk.