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On December 18, 2025, the Banque de France recognized outstanding contributions to green finance by awarding the 2025 “Jeunes chercheurs en finance verte” prize to Dr. Adrien Fabre and Prof. Dr. Thomas Giroux.
The award ceremony took place during the “Green Finance Research Advances” conference, co-organized by the Banque de France alongside the Institut Louis Bachelier, with support from the Institute for Climate Economics (I4CE) and Paris Europlace’s Institut de la Finance Durable. Alexandre Gautier, Deputy General Director of Financial Stability and Operations at the Banque de France, presented the awards.
Dr. Adrien Fabre, who holds a Ph.D. from the Paris School of Economics (which also announced the award this week), is recognized for his work in climate economics and international taxation. His recent publication, Un Plan mondial pour le climat et contre l’extrême pauvreté (2024), discusses emissions trading systems based on equal rights per capita. His research focuses on political preferences, international taxation, and climate policies, complemented by numerous international surveys to gauge support for climate measures.
Prof. Dr. Thomas Giroux, from ETH Zurich, holds a doctorate in applied mathematics and sustainable finance. His research addresses the impact of climate and environmental risks on financial returns while exploring mechanisms to mobilize private capital for environmental transitions. He contributes extensively to sustainable finance, impact investing, and risk modeling across various markets.
They succeed the 2024 winners Dr. Alain Naef and Dr. Isis Durrmeyer. The selection committee comprises renowned professors with significant experience in these fields from institutions in France and abroad.
For more information about the awarding ceremony and the recipients’ work, visit the Banque de France website (in French).
Image Credits: banque-france.fr / parisschoolofeconomics.eu / ethz.ch
