CFABB | Papers and Reports
Our Papers & Reports present independent, evidence-based analysis on the urgent challenges and opportunities facing Britain.
CFABB's first paper, "In case of emergency, break glass: What to do if the UK faces a sovereign debt crisis," was published on November 6, 2025.
CFABB | The Overlooked Costs of ESG Investing
The societal consequences of ESG-driven investment distortions
This paper examines how Environmental, Social and Governance (ESG) investing is reshaping capital allocation across the UK economy, and the often-overlooked costs for pension savers, consumers, taxpayers and strategically important industries.
Drawing on investment research, market evidence and original portfolio simulations, it assesses the effects of ESG screening on diversification, pension returns and fiduciary duty, including analysis indicating that these constraints could cost the average pension saver more than £50,000 over 25 years.
The paper also considers the wider consequences for living costs, industrial competitiveness, defence, energy security and democratic accountability. It concludes with policy recommendations to protect pension beneficiaries, clarify fiduciary obligations, reform ESG disclosure and support Britain’s productive and strategic capacity.
CFABB | War Plan Britain
War Plan Britain examines the state of UK defence capability, military readiness and national security in an increasingly volatile geopolitical environment.
The report assesses critical gaps in defence spending, force structure and strategic resilience, while exploring the investment required to strengthen Britain's deterrence, restore key military capabilities and support long-term defence policy objectives
CFABB | Energy Policy in the National Interest
Competitive prices, growing energy use and increasing energy production
Britain has spent two decades building a smaller, more expensive, and more import-dependent energy system. The paper's central argument is that this is the direct consequence of a policy framework built around a single objective, reducing domestic carbon emissions. Britain now has the most expensive industrial electricity in the developed world, total energy production is at a record low, electricity generation is 22% below its 2005 peak despite doubling installed capacity, and net electricity imports at a record high. Energy spending now accounts for 5.8% of GDP, up from 3-4% in the 1990s, while industrial energy consumption is at its lowest level in over 50 years.
The paper argues that the national interest in energy policy runs counter to what Britain has pursued: competitive prices, growing energy use, and increasing domestic production.
CFABB | UK State Legitimacy: Do We Live in a Democracy?
UK state legitimacy and the erosion of democratic accountability
This paper asks whether the United Kingdom’s democratic system still commands legitimacy in the eyes of its citizens. It examines how representative democracy, the rule of law, long-standing institutions, and the state’s capacity to deliver have historically underpinned British governance – and why each is now under pressure.
It examines the widening gap between electoral promises and policy outcomes, the growing influence of unelected bodies, and the implications of a changing electorate for democratic consent. Drawing on constitutional history, political theory, and contemporary case studies, it considers what must change to restore democratic accountability, public trust, and legitimacy.
CFABB | In case of emergency, break glass: What to do if the UK faces a sovereign debt crisis.
In case of emergency, break glass: What to do if the UK faces a sovereign debt crisis
This paper outlines a coordinated policy response in the event of a UK sovereign debt crisis. It offers realistic options to restore market confidence, reduce spending, and lay the groundwork for sustainable growth.
Many of the recommendations in the paper, which was developed in collaboration with senior City, economic and political figures, could and should ideally be implemented now, rather than under duress.
You can download the full report here.
The paper was featured in the Financial Times and Bloomberg.