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Background

The United Nations Environment Programme Finance Initiative (UNEP FI) is pleased to announce the running of the 2010 online course “Climate Change: Risks and Opportunities for the Finance Sector.” The 2010 course is the updated version of the highly successful course launched in June 2007 and re-run in June 2008 and 2009.

Introduction

UNEP FI is a global partnership between UNEP and the financial sector. Nearly 200 institutions including banks, insurers and fund managers, work with UNEP to understand the impacts of environmental and social considerations on financial performance.

UNEP FI’s Climate Change Working Group seeks to raise awareness and communicate the problem of climate change to financial institutions, policymakers and the public at large.

The course aims to develop a toolkit for staff in financial institutions in order to enhance knowledge on climate change and carbon finance, specifically the Kyoto Protocol’s flexible mechanisms, and provide support for the development of effective internal policies.

This online course aims to share knowledge with financial institutions, banks, asset managers and insurers, emphasizing the all-important role to be played by financial institutions in mitigating and adapting to climate change.

The course will provide an introduction to climate change and the science behind it, as well as emphasising how it will affect the financial services sector. Participants will be exposed to the policy and regulations in place, specifically the Kyoto Protocol and other regional policies, and will be updated on the post-Kyoto discussions. The course also aims to educate participants on the effect of climate change on energy financing and energy alternatives. Another important aspect of this course is the module on carbon finance, covering emissions trading as well as opportunities in the Clean Development Mechanism and Joint Implementation.

To support participants’ understanding of how to implement environmentally friendly policies, and assess the risks and opportunities posed by climate change for their business, the modules will include an array of case studies to illustrate the issues in question. In addition, participants will have access to external links which will connect them to relevant and important online documents and websites. Through the interaction on the Discussion Board, participants will have a unique global networking opportunity.

This course offers participants an opportunity to take part in a comprehensive, innovative and effective global e-Learning program.

Course Outline

The key areas to be addressed by this course are:

• A general introduction to climate change, the science and impacts, and key international and regional policies in place to tackle it i.e. the Kyoto Protocol and the post-Kyoto discussions.
• Climate Risk: What are the key risks and what does it mean for the banking, insurance and fund management sectors?
• Climate change and the energy economy: What does it mean for energy financing and what are the opportunities in alternative energy technologies?
• Carbon finance and the Kyoto Mechanisms: Emissions trading i.e. the European Union Emission Trading Scheme (EU ETS), the Clean Development Mechanism (CDM) and the Joint Implementation (JI).

The goal is to educate and enable key senior and mid-level executives to further understand the business complexities presented by climate change so that they can:

• Integrate it into corporate action plans and strategies
• Identify risks, opportunities and markets for new plans and strategies
• Adapt the material for internal use, and use course material as a stand-alone reference guide.

Target Audience

Executives and middle management from financial institutions such as banks, insurers, reinsurers, and fund managers, from both developed and developing regions. Governments and civil society who want to learn the climate change issue from the perspective of the financial industry. Policy makers, academics, and NGOs are also welcome.

Course Syllabus: Click here

UNEP FI Course Page: Click here

Prerequisite Courses: None

Approximate number of working hours to complete: 30-40

Course Developer: UNEP Finance Initiative

Instructors: Andrew Dlugolecki, Edmund Olivier, Dr. Sascha Lafeld

Availability: Oct. 11 – Nov. 1, 2010