P3S Academy trains Bank of Thailand to meet climate and environmental risks

The programme was tailored to accelerate the green finance capacity of the bank while providing participants with a solid understanding of climate and environmental risks and the challenges they pose to financial and macroeconomic stability. “We delivered insights into the tools and approaches that they can use to assess and monitor these risks and how they can design appropriate policy measures to mitigate them, such as mobilising transition finance and integrating transition plans,” explained Matt Scott, Executive Director of the UK’s Centre for Greening Finance and Investment, based at the University of Oxford, and Co-Director of the training programme.  

Participants were also taught about a range of financial policy instruments and initiatives and their potential to integrate environmental constraints within financial policy and supervisory frameworks.

Speakers included Ulrich Volz, Professor of Economics and Director of the Centre for Sustainable Finance at SOAS, University of London as well as Franziska Fischer and Antonio Buller, data analysts at Theia Financing Labs.

The programme was funded by UK PACT, and developed in partnership between the University of Oxford, SOAS University of London and Theia Finance Labs.

Professor Ulrich Volz, the Director of the SOAS Centre for Sustainable Finance, says: "The SOAS Centre for Sustainable Finance is delighted to continue and strengthen its collaboration with the Bank of Thailand through this UKPACT partnership with Oxford and Theia Finance Labs. In this joint capacity building effort and the advisory work on developing a climate stress test for the Bank of Thailand that we have been undertaking together, we have built on our respective strengths, helping the Bank of Thailand to step up its work on addressing climate risks and the alignment of the Thai financial system with climate and sustainability goals."

"We are thrilled by the Bank of Thailand's exceptional comprehension and active involvement in the capacity-building process within this collaboration and hope that the advanced insights, including those from tools like the 1in1000 Transition Risk Stress Test, will play a crucial role in mitigating financial risks associated with climate change in Thailand,” said Theia Finance Labs.

Chuenchanok Jantanalikhit, UK PACT Climate Change Programme Manager, commented:
“This interactive course allowed the speakers to tailor content to fit with the audience’s interest and background – from raising awareness in climate risk and provide guidance to modeller on how make use of climate risk data.”

Founded in 2021 by the Oxford Sustainable Finance Group (OxSFG), P3S Academy arms public and third sector officials with the knowledge, networks and skills to help shift the direction of global capital away from unsustainable activities to those aligned with the Paris Agreement.