EARLY BIRD DISCOUNT (-10%) until 17 December 2024
17/03/2025 - 19/03/2025
Location
EUI Premises in Florence
Download the programme
Registration Deadline
24/02/2025
Level
Intermediate
Approach
Qualitative
Delivery mode
Residential
This Climate Risk Academy, co-organised by the Florence School of Banking and Finance and Oliver Wyman, combines the expertise and tools of the financial industry to assess and understand the risks posed by climate change to the financial sector. To comprehend the physical risk exposure of the financial system, it is essential to recognise 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 applies to transition risks and their still poorly understood repercussions.
The Academy is held in a context where climate change is deeply transforming the role of central banks and prudential authorities. In particular, it focuses on Stress Testing exercises for financial risks stemming from climate change and the crucial role of Climate Transition Plans within financial institutions. Rather than merely 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 gain a deep understanding of the crucial risks that climate change poses to the financial system. In addition to providing topical content and practical tools, this Academy will also serve as a platform to stimulate exchange and debate among public officials, academics, and private practitioners.
In terms of format, this course will be delivered as a 3-day residential programme 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 as well as selected videos to ensure they can become more familiar with key issues that will underpin the Academy.
Register by 17 December 2024 to enjoy a 10% EARLY BIRD DISCOUNT (see details in the ‘Fees’ section)
- Identify climate-related financial risks and the impact of climate change on the financial sector
- Understand how the financial sector is exposed to the various implications of climate change (from sea level rise to carbon pricing)
- Assess and quantify climate risks and exposures (e.g. climate scenarios, transition risks)
- Examine the impact of physical risks on the global economy.
- Discuss how climate risks can be incorporated into an institution’s 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
- Evaluate the effectiveness of disclosure and the interaction between different standards.
- Articulate the need for credible Climate Transition Plans within financial institutions.
Organisers
-
Eliana Canavesio
Project Coordinator (SSM Foundation)
Robert Schuman Centre for Advanced Studies
-
Andrea Federico
Partner
Oliver Wyman
-
Sophie Hölscher
Researcher
European University Institute
-
Ilya Khaykin
Partner
Oliver Wyman
-
Valerio Novembre
Research Fellow
Robert Schuman Centre for Advanced Studies
-
Alban Pyanet
Principal in the Finance & Risk Management practice
Oliver Wyman
Faculty
-
Beverley Adams
Consulting Director and Practice Leader
Marsh
-
Richard Berner
NYU
-
Katarzyna Budnik
Adviser
Stress Test Modelling Division, ECB
-
Raffaella Calabrese
Jean Monnet Fellow
Robert Schuman Centre for Advanced Studies
-
Susannah Fitzherbert-Brockholes
Director, Sustainable Finance
HSBC
-
Sophie Hölscher
Researcher
European University Institute
-
Ilya Khaykin
Partner
Oliver Wyman
-
Michala Marcussen
Chief Economist and Head of Economic and Sector Research
Societe Generale
-
Pierre Monnin
Senior Fellow
Council on Economic Policies
-
Valerio Novembre
Research Fellow
Robert Schuman Centre for Advanced Studies
-
Alban Pyanet
Principal in the Finance & Risk Management practice
Oliver Wyman
Monday, 17 March 2025
13:00 – 14:00 Light Lunch
14:00 – 14:30 Welcome and introduction to the Academy. Followed by a Tour de Table
14:30 – 16:00 Session 1: Understanding Climate-Related Financial Risks. Defining, measuring, and managing climate-related financial risks.
16:00 – 16:30 Coffee break
16:30 – 17:45 Session 2: Navigating Physical Risks in a Changing Climate. Deep dive into physical risks.
17:45 – 19:00 Cocktail at the EUI premises
Tuesday, 18 March 2025
09:15 – 09:45 Interactive Recap: Key Takeaways from Day 1
09:45 – 11:00 Session 3: Transition Risks – A Closer Look. Exploring transition risks.
11:00 – 11:30 Coffee break
11:30 – 13:00 Session 4 – Practical Activity on Physical and Transition Risk. Interactive exercises.
13:00 – 14:00 Lunch
14:00 – 15:00 Session 5: The US Perspective on Climate Risks – Academic and Regulatory Insights
15:00 – 15:30 Coffee break
15:30 – 17:00 Session 6: Practical Activity on Building Effective Climate Transition Plans
17:00 – 18.00 Guided tour of Villa Schifanoia
Wednesday, 19 March 2025
09:15 – 09:45 Interactive Recap
09:45 – 11:30 Session 7: Climate Stress Testing – Institutional, Private, and Academic Perspectives
11:30 – 12:00 Coffee break
12:00 – 13:20 Session 8: Climate Disclosures – Public vs. Private Sector Perspectives.
13.20-13.30 Concluding remarks
13:30 – 14:30 Light lunch
FULL FEES, applicable from 18 December 2024 onwards*:
- € 950 – Academics
- € 2100 – Public sector
- € 2300 – Private sector
*Please note that the payment must be settled one week before the start of the course.
The fee includes tuition, access to all course materials and pedagogic activities, coffee and lunch breaks and social activities, as well as a certificate of attendance after the course has been completed. The fee does not include travel and accommodation expenses or other local transportation costs (taxis, private cars).
Please submit a certificate attesting your status of Professor, PhD Student or Research Associate to fbf@eui.eu before registering. FBF secretariat will provide you with a code to register. Seats for academics are limited.
EARLY BIRD DISCOUNT (-10%), applicable until 17 December 2024 COB:
Participants are eligible for the below early bird discount if they register and pay by 17 December 2024. Please note that those who wish to pay a reduced fee for academics must send proof of academic status to fbf@eui.eu in order to verify their eligibility.
- € 855 – Early bird academic*/ € 950 full fee (from 18 December)
- € 1890 – Early bird public sector / € 2100 full fee (from 18 December)
- € 2070 – Early bird private sector / € 2300 full fee (from 18 December)
The fee includes tuition, access to all course materials and pedagogic activities, coffee and lunch breaks and social activities, as well as a certificate of attendance after the course has been completed. The fee does not include travel and accommodation expenses or other local transportation costs (taxis, private cars).
*Please submit a certificate attesting your academic status (Professor, PhD Student or Research Associate) to fbf@eui.eu before registering. FBF secretariat will provide you with a code to register. Seats for academics are limited.
GROUP DISCOUNT (-15%) for minimum 3 participants from the same institution:
The below group discount applies to 3 or more participants who register for the same course from the same institution. Those wishing to take advantage of the group discount must write an email to fbf@eui.eu, stating the full names of the proposed participants.
- € 807.50 – Group discount academic
- € 1785 – Group discount public sector
- € 1955 – Group discount private sector
CANCELLATION POLICY
Paid registration fee is non-refundable. However, registrant substitution may be made up to 15 days before the start date of the course by contacting fbf@eui.eu.
Accommodation
Participants are responsible for their own accommodation during their stay in Florence. Below are some hotels that are conveniently located either for the city centre or for the course venue.
Fiesole (closer to the European University Institute)
- Villa La Stella, Via Iacopone da Todi 12, Firenze, ph. +39 055 5088018, info@villalastella.it
- Hotel Villa Fiesole, Via Frà Giovanni da Fiesole Detto l’Angelico, 35, Fiesole, ph. +39 055 597252, info@villafiesole.it
Florence Historic Centre – Santa Maria Novella Train Station area
- Grand Hotel Minerva, Piazza Santa Maria Novella 16, Firenze, ph. +39 055 27230, booking@grandhotelminerva.com
- Hotel Garibaldi Blu, Piazza di Santa Maria Novella, Firenze, ph.+39 055 277300, booking@wtbhotels.com
- Hotel L’Orologio, Piazza Santa Maria Novella 24, Firenze, ph. +39 055 27 73 80, booking@wtbhotels.com
- Hotel Lungarno, Borgo S. Jacopo 14, Firenze ph. +39 055 27261, bencini@lungarnocollection.com
- Hotel Rosso 23, Piazza di Santa Maria Novella 23, Firenze, ph.+39 055 277300, booking@wtbhotels.com
- Hotel Santa Maria Novella, Piazza di Santa Maria Novella, Firenze, ph.+39 055 271840, booking@wtbhotels.com
- Portrait Hotel, Lungarno degli Acciaiuoli 4 Firenze, ph. +39 055 2726 8000, bencini@lungarnocollection.com
Florence Centre – Piazza della Libertà area
- Hotel Cellai, Via 27 Aprile 14, 52/R, Firenze, ph. +39 055489291, customer.service@hotelinfirenze.com
- Hotel San Gallo Palace, Via Lorenzo il Magnifico 2/4, Firenze, ph. +39 055 463871, infosangallo@allegroitalia.it
- Hotel il Guelfo Bianco, Via Cavour 29, Firenze, ph. +39 055 288330, info@ilguelfobianco.it
- Hotel de La Pace, Via Alfonso la Marmora, 28, Firenze, ph. +39 055 577343, info@hoteldelapace.com
- The Social Hub, Viale Spartaco Lavagnini, 70 – 72, 50129 Florence, +38 055 062 1855, florence@thesocialhub.com
- Palazzo Castri, Piazza della Indipendenza, 7, 50129 Firenze, ph. +39 055 472118, welcome@palazzocastri.com
Nearby airports
Pisa International Airport (Galileo Galilei Airport), is located 85 km from Florence. The shuttle Pisa Mover connects Pisa Airport to Pisa Railway Station, and it is in service every day from 6.00 a.m. to midnight with variable frequencies. The average travel time between the airport and the railway station, including the intermediate stop, is about 5 minutes. From Pisa Railway Station it is possible to take a train to Florence Railway Station (average travel time is one hour). Timetable and ticket options are available at Trainline.
Guglielmo Marconi Bologna International Airport is located 105 km from Florence. It is connected to Bologna Central Station by the shuttle train “Marconi Express” that leaves every 7 minutes. Tickets can be purchased on this website. From Bologna Central Station, Florence can be reached with a high-speed train in about 40 minutes. Timetable and ticket options are available at Trainline.
IT information
- Upon arrival, you will be provided with temporary Wi-Fi access for the duration of the event.
- If using your company laptop, please check with your company IT department regarding firewall protections before your departure. EUI uses a Captive Portal authentication to access the EUI Wi-Fi network.
On-site contact points
For any practical questions, please feel free to contact the Florence School of Banking and Finance to the attention of Noemi Epote’ (fbf@eui.eu).
Restaurants
Below you can find a few suggestions on restaurants located in Fiesole or the city centre, which might be useful for your free night(s).
- Osteria di Giovanni – Ph. +39 055 284897
- Coquinarius Firenze – Ph. +39 055 230 2153
- Restaurant Accademia – Ph. +39 055 217343
- Il Vezzo – Ph. +39 055 281096
- Finisterrae – Ph. +39 055 2638675
- Coquinarius Fiesole – Ph. +39 055 597 8356
- La Reggia degli Etruschi – Ph. +39 333 355 6126