I took an unusual path into academia. From my second year as a PhD student, I was already working as an employed research assistant on externally funded research projects. Since then, my theoratical and empirical work has been made possible thanks to the support of funders such as UKRI, the European Commission, the Leverhulme Trust, the Royal Bank of Canada, and the British Academy. Each project has circled around a common thread - energy economics and sustainable finance - and together they have shaped a distinct academic journey. Along the way, my research has not only advanced theory but also fed directly into practice: informing government policy, guiding industry and financial institutions, and engaging NGOs. These projects have given me both a platform and a responsibility: to bridge academic research with real-world impact. What follows is a snapshot of that journey.

Recent Research Projects

Sustainable Finance Innovation Fellow

(Funded by UK Research and Innovation)

We all agree on the need for a green transition. But to build batteries, renewable energy infrastructure (e.g., turbines), and electric vehicles, we need lithium, tin, tungsten. The question is: How do we finance this transition responsibly? That’s where my research steps in – understanding how sustainable finance tools can mobilize investment for mines without compromising ESG standards or local trust. The Green Economy Centre is an applied research centre at the University of Exeter, with UKRI investment of £4.5m plus partner contributions, to growing to a £10M project.

Reports and Articles

Critical Minerals Challenge Centre Launches with a Vision for a Greener Future

LinkedIn Insight Article

The Role of Sustainable Finance in Mining Sector - Chenyan Lyu

2025 - Now

UKRI - Critical Minerals Accelerating the Green Economy Centre

University of Exeter Business School & Camborne School of Mines (CSM)

2023-2025

The RBC Global Asset Management Sustainable Investment Research Project

University of Exeter Business School

Research Fellow

(Funded by Royal Bank of Canada)

This collaboration is between the Royal Bank of Canada Global Asset Management and the Exeter Sustainable Finance Centre. The research project looks at how climate risk exposure and sustainable finance more generally affect the risk-return trade-off of assets. Key Deliveries are:

Research Papers

Lyu, C., Yang, P., & Zhang, C. (2025)
Corporate Environmental Governance: A Global Study of Internal Carbon Price (August 24, 2025). Available at SSRN: https://ssrn.com/abstract=5252571

Lyu, C., Xin, W., & Zhang, C. (2025)
Internal Carbon Price: Firm Performance and Future Stock Return (August 24, 2025). Available at SSRN: https://ssrn.com/abstract=5252987

Media-Video Highlights

A Collaborative Approach to Sustainable Investment (Partnership with RBC Global Asset Management)

Research on Internal Carbon Pricing: Drivers and Impacts

LinkedIn Insight Article

The Role of Internal Carbon Pricing in Driving Carbon Emissions Reductions and the Transition to a Low-Carbon Economy

By RBC and Dr. Chenyan Lyu