CICERO - Center for International Climate Research

Phone: +47 22 00 47 28 /


Christa Clapp leads the climate finance work at CICERO, including second opinions on green bonds and research on financing for climate action.

She has over 15 years of experience in climate policy and economic analysis. Christa previously held positions at the OECD and the US Environmental Protection Agency, where she earned a National Honor Award Gold Medal for climate policy analysis for US Congress, and AllianceBernstein investment management. She served as a Contributing Author to the IPCC 4th Assessment Report on Mitigation. Christa holds a Masters in International Relations and International Economics from SAIS at Johns Hopkins University, and is a member of Climate Strategies which provides research and policy input on European and international climate policy.


  • ClimINVEST - Tools for climate-resilient investment Climate change is increasingly affecting financial assets across the globe. The ClimINVEST project brings scientists and investors together to develop tailored tools for assessing physical climate risk and identifying climate-resilient investment opportunities. 
  • Second opinions on green bonds CICERO second opinions are independent, research-based evaluations of green bond investment frameworks to determine their environmental robustness.
  • CICERO Climate Finance How can investors better secure the value of their portfolios against climate change-related risks? CICERO Climate Finance offers expertise and research that can be applied directly by financial actors.
  • Scaling green investments through blockchain The Green Assets Wallet will develop a technology that bridges green investors with potential investment opportunities through cost-efficient and immutable verification of green impact.

Publications and outreach at CICERO

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Journal article




Web articles

  • CICERO Shades of Green CICERO Second Opinions are graded dark green, medium green and light green to offer investors better insight in the environmental quality of green bonds.
  • Climate finance CICERO is leading international research projects on climate finance for the Norwegian government, international organisations, and private sector partners.
  • CICERO expands work with green bonds After several years of exclusive cooperation with Skandinaviska Enskilda Banken and recently with HSBC, CICERO will now also provide second opinions to other issuers and underwriters of green bonds. As the market for green bonds is expanding rapidly, the need for independent, research-based assessments of green bond frameworks is growing too.