The European Research Council awards an ERC Grant to CMCC scientist and University of Bologna associate professor Emanuele Campiglio for his BELIEFS project, which will investigate the complex dynamics between corporate expectations, investments, and climate policies in the pursuit of a net-zero society.

Emanuele Campiglio, associate professor at the Department of Economics at the University of Bologna and researcher at the CMCC Foundation, has been awarded a prestigious European Research Council (ERC) Consolidator Grant of €2 million. His project, BELIEFS – Climate-related Beliefs and Low-Carbon Transition Dynamics, will explore the complex interplay between corporate expectations, investment choices, and climate policy strategies to identify credible pathways for achieving a net-zero society.

Awarded by the European Research Council (ERC), the Consolidator Grants are a flagship initiative of the European Union. They aim to support highly promising researchers with outstanding scientific track records, helping them strengthen and expand their research activities in Europe.

“Significant gaps remain in our understanding of the expectations driving the ecological transition,” Campiglio explains. “Current models fail to fully assess their impact, there is limited empirical evidence on their distribution, and little is known about the factors shaping them or how to align them effectively with climate goals. BELIEFS aims to bridge these gaps by developing a dynamic model of transition processes that incorporates a realistic representation of firms’ expectations – which are heterogeneous, interdependent, and constantly evolving.”

Campiglio’s ERC Consolidator Grant builds on the CMCC Foundation’s strong track record of success in securing ERC funding. Previous recipients include CMCC’s European Institute on Economics and the Environment scientists Massimo Tavoni (with projects COBHAM and EUNICE), Valentina Bosetti (with RISICO and ICARUS), Emanuele Campiglio (with project SMOOTH and the just awarded BELIEFS), Francesco Lamperti (FIND), Elena Verdolini (2D4D), and Enrica De Cian (with project EnergyA), further cementing the Foundation’s position as a leader in cutting-edge climate research.