Objective

This course is designed for central bank officials who are interested in climate, nature and wider sustainability issues. It covers basic topics on how climate change and nature loss can be sources of economic and financial risks. The programme is geared to be easily accessible and lays the foundation for more advanced courses such as “Implications of climate change and climate policies for monetary policy”.

The course content follows the recommendation of the Network for Greening the Financial System’s (NGFS) "Sustainability Training Reference Guide" (STaR Guide), available via the Climate Training Alliance (CTA) Portal.

The STaR Guide provides a structure and recommendations to central banks and financial supervisors on how to systematically establish capacity on climate-related and environmental knowledge. Capacity building is a key enabler to accelerate the upskilling of the NGFS central banking and supervisory community and a priority for the NGFS chair, the Bundesbank’s First Deputy Governor Sabine Mauderer. As already emphasised in the NGFS first 'Progress Report on the Guide for Supervisors' (2021), a continuous upskilling of knowledge is necessary to account for an evolving understanding of climate‑related and environmental risks and to implement robust risk management practices. 

Contents

• Understanding the planetary problems: an introduction to climate change and earth system sciences
• From climate change to climate risks: understand the origin and transmission channels of climate risk
• Loss of nature and ecosystem services as an economic and financial risk driver: nature-related risks
• The perspective for central banks and financial sector supervisory authorities: relevance and implications of climate-related and environmental risks
• Relevance and implications (including protection gap) of climate and environmental risks for (re)insurers
• International cooperation and multilateral agreements on climate change and nature
• The toolkit against climate change: an overview of available tools and policies relevant for central banks and supervisory authorities. 

Target group

Junior to mid-level central bank officials working in the area of monetary policy, monetary policy implementation, financial stability, banking supervision, banking regulation or international relations interested in the challenges arising from climate, nature, and wider sustainability issues.

Participants knowledgeable in the area of climate, environmental or nature-related risks are invited to contribute short presentations based on their own expertise in this field to facilitate an interactive course.

Please note:

A nomination is required in order to participate in our in-person courses.