The Bocconi University has won two ERC Starting Grants to study the intersection of climate and economy. One project, M4E, will test whether carbon credits and climate-related economic incentives can be designed to deliver real environmental benefits. It will use a blockchain-based system to verify actual use of eco-friendly stoves and AI-based advice to help buyers distinguish credible offsets. The other project, Eurisk, will examine how the European Union has managed climate risk since the 1990s, questioning whether active risk management has sometimes become a substitute for emission cuts. Both projects address the credibility gap in voluntary carbon markets and the history of climate risk governance. For carbon credit buyers, the M4E results could clarify how to verify offset projects. For policymakers, Eurisk offers lessons on how risk management interacts with mitigation targets.
