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Climate-related Financial Risk Course

In brief

Details
Date 2023 dates TBC
Duration 3-day residential
Location Oxford
Fees
Private sector £3,750
Public sector £2,625

Contact

cfrc@smithschool.ox.ac.uk

Overview

Measuring and managing climate-related financial risks is critical for institutions across the financial system. Our three-day Climate-related Financial Risk Course (CFRC) residential workshop at the University of Oxford is designed to equip individuals from financial institutions and regulators, government officials, and corporate strategists with the latest understanding of climate risks.

The G20 Task Force on Climate-related Financial Disclosures (TCFD), central banks and financial regulators have all highlighted the need for comprehensive, high-quality information on the impacts of climate change. The physical impacts are already stranding assets across specific sectors of the global economy, with real implications that need to be appropriately and professionally managed.

In addition to the latest knowledge on climate-related financial risks, CFRC provides the expertise, networks, and confidence for you to design and implement practices for measuring and managing these risks.

Designed and developed by the Oxford Sustainable Finance Programme, the course is aimed at individuals working as:

  • Risk officers in financial institutions
  • Analysts and portfolio managers
  • Corporate risk managers and strategists
  • Financial regulators supervising or considering how to supervise firms in relation to climate-related risk
  • Government officials integrating climate-related risk into government decision-making and policy
  • NGOs working on climate-related financial risks.

Climate-related financial risk video

Video transcript

Dr Ben Caldecott, Director of Oxford Sustainable Finance Group: Climate change, the impacts of climate change are reshaping sectors of the global economy. Physical climate impacts already having a pronounced effect on the value of assets, on livelihoods, on welfare around the world. There is a growing risk around litigation and liability associated with climate change. How societies react to tackle climate change through policy, through regulation, through technological change, through social norms and so on and so forth, is also significant. So these factors are really very significant material risks today, they look set to grow. This is the reason why Mark Carney at the Bank of England and now 40-plus different financial regulators and central banks have said that climate-related risk is something that they need to be concerned about as managers and supervisors of the financial system, their financial stability. So this is one of the biggest issues facing economies facing corporations facing financial institutions, and so the course is all about that – understanding that, and then turning that into something that's actually going to make a difference in your institutions, and primarily it's focused on measurement and management and disclosure, and it touches on the whole range of issues.

So the first day of the course is focused on really getting the latest updates on the science, the social science, the legal opinions on these risks, physical risks, transition risks, liability risks, associated with climate change, and then the other the other days of focus on sort of building up the toolkit for how you measure, manage, disclose, integrate, these things into your respective institutions. So what's the right data, what are the best data sets to use, what scenarios should you be using, what projections, and how do these things come together into models, and what results are going to be useful to drive different choices, different decisions if you're a bank or an asset manager, an asset owner, government – these are all questions that we seek to explore and it's a rapidly developing area, the TCFD itself is quite new, the Supervisory statement from the Bank of England is also very new and there are other regulatory changes coming through, and even if there wasn't regulatory change it would make sense for your institution, your home institution, to think about this systematically.

The climate-related financial risk course is designed for people working in organisations who are looking to integrate climate-related financial risk into strategy and into management in their own institutions, and it's really also meant for people that are working closely on the Task Force on Climate-Related Financial Disclosures, the TCFD, for preparing disclosures under that framework, and also for people that might be responding to increased regulatory supervision on climate change, and we've seen this over recent years, and in particular the Bank of England's supervisory statement on climate change that came out in April this year, 2019.

Sir Martin Smith, Founder of the Smith School of Enterprise and the Environment: In the end this is all about people, so getting people from those companies to come and learn what's happening at the cutting edge of environmental thinking at a university like ours, it seemed to us, and I think the evidence is there, has the potential to create considerable impact.

Dr Ben Caldecott: So if you're in institutions thinking about climate-related financial risk, how do you measure it, how do you manage it, how should you disclose it, how should you report it, how should you systematically integrate this into a variety of different functions in your institution, that's the course for you.

Course details

The course focuses on the latest evidence, the toolkit elements required to measure climate-related risks, and how these can be implemented in practice. Course sessions will provide you with an understanding of:

  • Climate-related physical risk
  • Climate-related transition risk
  • Climate-related legal risk
  • The use of data for analysing risk
  • Scenarios for climate and energy transitions
  • The latest theories on measuring climate-related risk
  • The roles and expectations of regulators
  • Means to navigate climate-related financial risk

Our courses equip attendees with an understanding of the core principles and concepts in sustainable finance, as well as an in-depth knowledge of the latest developments. They are ideal preparation for professional examinations in sustainable finance and related areas.

Who is it for?
Alumni

The first cohort of CRFC in 2019 included participants from organisations such as:

  • Barclays Bank
  • Environment Agency
  • Bank of England
  • Linklaters LLP
  • Kresge Foundation
  • CBRE Global Investors
  • KPMG
  • Legal & General

CFRC alumni will receive invitations to our events and conferences as part of our growing community. Alumni are eligible for a 15% discount on all other Oxford Sustainable Finance Programme open enrolment executive courses.

Teaching team

CRFC content is underpinned by the Oxford Sustainable Finance Group research, academics and networks. The Course Director is Dr Ben Caldecott, Director of the Oxford Sustainable Finance Group and Lombard Odier Associate Professor.

Fees & funding

The course fee includes all teaching costs, en-suite accommodation at an Oxford college for three nights, breakfast, lunch and a dinner. It does not include the cost of travel to and from Oxford, visas, insurance or any personal expenses.

Fees
Private sector £3,750
Public sector and civil society £2,625

Apply

Please complete an application form and return it to cfrc@smithschool.ox.ac.uk along with a copy of your CV.

You are expected to demonstrate the relevance of the course to your occupation and organisation, and your experience and potential, particularly in relation to the course content.

If you are applying for a scholarship, please remember to also include a letter of endorsement from a senior manager.

Applications will be reviewed and places awarded on an ongoing basis.

In brief

Details
Date 2023 dates TBC
Duration 3-day residential
Location Oxford
Fees
Private sector £3,750
Public sector £2,625

Contact

cfrc@smithschool.ox.ac.uk