This course is fully booked. To request inclusion in the waiting list, please contact firstname.lastname@example.org.
This Climate Risks Academy co-organized by Oliver Wyman and the Florence School of Banking and Finance combines the expertise and tools of the financial industry to assess and grasp the risks posed by climate change to the financial sector. To understand the physical risk exposure of the financial system, it is essential to realise the link between physical phenomena such as global warming, sea level rise, more frequent flooding and droughts with the corresponding financial losses and risks. The same goes for transition risks and their still poorly understood repercussions.
The Academy is held in a context in which climate change is deeply transforming the role of central banks and of prudential authorities. In particular, it focuses on exercises of Stress Testing of financial risks stemming from climate change and on the crucial role of Climate Transition Plans within financial institutions. Instead of examining how the risk landscape has been altered by climate change, the Academy will review practical approaches for quantifying their impact and explore best practices for integrating climate risk into both prudential and risk management frameworks.
This Academy has been designed for staff members of financial institutions, prudential authorities and development banks who wish to deeply understand the crucial risks that climate change pose to the financial system. In addition to providing topical content and practical tools, this Academy will also act as a platform to stimulate exchange and debate between public officials, academics, and private practitioners.
In terms of format, this course will be delivered during a 2-day residential course at the European University Institute’s premises in Florence, Italy. It will also include interactive practical activities and exercises. Two weeks before the start of the course, participants will be provided with a reading list as well as selected videos to ensure they can become more acquainted to key issues that will underpin the Academy.
Identify climate-related financial risks and the impact of climate change on the financial sector;
Understand how the financial sector is exposed to the different implications of climate change (from sea level rise to carbon pricing);
Calculate and quantify climate risks and exposures (e.g., climate scenarios, transition risks);
Debate the impact of physical risks on the global economy;
Discuss how climate risks can be incorporated into an institution’ risk management framework and how risk management approaches can be adjusted to capture such risks;
Comprehend the role of Climate Stress Tests as a key tool for financial supervisors;
Describe the potential implications of climate change for financial stability;
Define the need for credible Climate Transition Plans within financial institutions.
In terms of format, this course will be delivered during a 2-day residential course at the EUI premises in Florence (Italy). It will also include interactive practical activities and exercises. Two weeks before the start of the course, participants will be provided with a reading list and selected videos to ensure they can become more acquainted with key issues underpinning the Academy.
€ 1950 – Public Authorities (e.g. National Competent Authorities, Central Banks) and European Institutions
€ 950 – Full-Time Professors, PhD Students, Research Associates
Please submit a certificate attesting your status of Professor, PhD Student or Research Associate to email@example.com before registering. FBF secretariat will provide you with a code to register. Seats for academics are limited.
Please note that the payment must be settled one week before the start of the course.
A certificate of attendance will be provided to all participants after the course.
In case you can no longer attend the course, you are required to inform the organisers by sending an email to firstname.lastname@example.org in order to free a seat for participants in the waiting list.
In case of frequent cancellations, FBF reserves the right not to accept further registrations from the same person.
09:15 – 09:45 | Presentation of the School, of Oliver Wyman and of the Academy followed by a Tour de Table
09:45 – 11:15 | Session 1 – Intro Session: Defining, measuring, and managing climate-related financial risks led by Pierre Monnin (CEP)
11:15 – 11:45|Coffee Break
11:45 – 13:00 | Session 2 – Deep-Dive Session: Physical Risks and illustrative examples led by Ilya Khaykin (Oliver Wyman) and by Beverly Adams (Marsh)
13:00 – 14:00|Lunch
14:00 – 15:15 | Session 3 – Deep-Dive Session: Transition Risks and illustrative examples led by Alban Pyanet (Oliver Wyman)
15:15 – 15:45|Coffee Break
15:45 – 17:15 | Session 4 – Practical Activity: Exercises on Physical and Transition Risks led by Ilya Khaykin (Oliver Wyman) and by Alban Pyanet (Oliver Wyman)
17:15 – 19:00| Refreshments
19:00 – 21:00| Dinner
Tuesday 3 October 2023
09:00 – 09:15|Coffee Break
09:15 – 09:45 | Interactive Recap of Day 1 led by EUI and OW
09:45 – 11:15 | Session 5 – Deep-Dive Session: Climate Stress Tests – A global overview led by Paul Hiebert (ECB) and by Michala Marcussen (SocGen)
11:15 – 11:45|Coffee Break
11:45 – 13:00 | Session 6 – Deep-dive Session: Financial institutions’ Transition Plans: What are the different types of transition plans? What purpose do TPs serve in the context of risk management? led by Agnieszka Smoleńska (Institute of Law Studies of the Polish Academy of Sciences) and by Simon Dikau (LSE)
13:00 – 14:00|Lunch
14:00 – 15:30 | Session 7 – Practical Activity: Drafting a Bank ‘Net zero’ Transition Plan led by Susannah Fitzherbert Brockholes (HSBC), Agnieszka Smoleńska (Institute of Law Studies of the Polish Academy of Sciences) and by Simon Dikau (LSE)
15:30 – 16:00|Coffee Break
16:00 – 17:30 | Session 8 – Roundtable: The Frontier
Panel debate moderated by Andrea Federico (Oliver Wyman)
Kern Alexander (University of Zurich and FBF/EUI)
Susannah Fitzherbert Brockholes (HSBC)
Michala Marcussen (SocGen)
Pierre Monnin (CEP)
Reiner Martin (National Bank of Slovakia)
17:30 – 18:30 | Refreshments and end of the Academy