Bayes Centre

Climate Change Risk in Finance

A fundamental course for financial professionals focused on the consequences of climate change on finance – how to navigate data, measure risk, gain accurate insights for financial decision making, and capture opportunities related to transitioning to net zero. Delivered over 10 weeks with a mix of self-paced and live, facilitated discussions with participants from across the financial services sector

Course Summary

Assessments of financial risk associated with climate change are increasingly informing decision-making in global capital markets. The Financial Stability Board's Taskforce on Climate-Related Financial Disclosures (TCFD) has set out a high-level framework for disclosing both climate risks and opportunities in financial reports, and financial regulatory authorities are beginning to move towards the mandatory disclosure of such risks.

In parallel, central banks are increasingly integrating climate risks into their activities and supervisory authorities are calling for the integration of climate risk information into financial stability monitoring (stress testing) and micro-supervision (scenario analysis).

Finally, a growing number of investment managers and advisers are assessing exposure to climate change risks using Environment, Social, Governance (ESG) frameworks, and emerging climate service providers.

The desire of governments, regulators, standard-setters and business to understand how climate change can be a threat multiplier to key macro-financial risks requires to translate insights from climate science and climate modelling into micro and macroeconomic impacts, and eventually into financially risks.

Over the course of 10 weeks, you will:

  • Explore the emerging theories and practice of sustainable finance and climate-related financial risks.
  • Be introduced to climate change fundamentals and terminology.
  • Understand how to translate the complex climate information compiled from observations and near- and long-term model predictions for financial decision-makers.
  • Understand how to assess and quantify the direct risks arising from climate change on physical assets, businesses, portfolios and supply chains; but also potentially near-term disruptive impacts associated with mitigation policies, changing preferences, and ongoing technological change.
  • Understand the impact of climate change on different financial asset classes (equity markets, fixed-income markets, real estate).
  • You will build confidence in applying learnings for financial decision-making.

We assume no prior knowledge, but we do assume a keen interest in learning the tools required to help you think about future solutions linked to your day-to-day work.

Further information can be found on the course website:

Climate Change Risk in Finance

Course Delivery Information

Start Date (cohort 1): 15th Nov 2021 - 11th Feb 2022    
Course Duration: 10 weeks    
Total Hours: Each module will be comprised of 10–12 hours of effort. The course has four modules, plus a live induction and finale event. Total effort hours will be in the region of 40–50 hours over the 10 weeks.    
       
Start Date (cohort 2): 28th Feb 2022 - 20th May 2022    
Course Duration: 10 weeks    
Total Hours:  Each module will be comprised of 10–12 hours of effort. The course has four modules, plus a live induction and finale event. Total effort hours will be in the region of 40–50 hours over the 10 weeks.    

Course Fees and Funding

Course fees for 21/22 are £1500, but funded places are available for people employed, unemployed or furloughed in Scotland who meet Scottish Funding Council eligibility criteria.

Determining eligibility for a funded place for upskilling takes a number of things into account, including fee status, but also location of employer. SFC provide guidance specifically for upskilling courses:

“Courses/provision is open to all Scottish-domiciled/’home fee’ students, which is consistent with SFC’s policy for core funded student places. Students from the rest of the UK (rUK) are not normally considered eligible for SFC funding. If however a university is working with a Scottish/UK employer which has a physical presence or operating in Scotland, rUK employees of that employer would be eligible.”

Organisations like UKCISA, and the University, provide guidance on how to determine your fee status:

If your fee status is Scotland Fee Rate, RUK Fee Rate, or EU-EEA Pre/Settled Scotland Fee rate, you may be eligible for a funded upskilling place. To determine this we will look at your fee status, residency information and, where relevant, details of your employer, to confirm whether the employer is based in, or has a significant presence, in Scotland.

Funding eligibility will be assessed at the point of each application for each course; you may be asked to provide further information if you do not meet the general residence conditions. Please email us at bayes-training@ed.ac.uk if you would like to discuss your funding eligibility before applying.

Please note that full-time students (including full-time PhD students) are not eligible for funding.

If you are not applying for a funded place, please register with the Business School directly by following one of the links below, being careful to choose the correct entry date:

November Cohort

February Cohort

Apply Now

Applications for November 2021 and February 2022 entry are now open.

In order to verify that you meet the eligibility criteria for this course, please complete the application form at one of the links below. Please make sure to check you are applying for the correct course start date.

Cohort 1: 15th Nov 2021 - 11th Feb 2022. Applications close 7th November 2021.  APPLY HERE

Cohort 2: 28th Feb 2022 - 20th May 2022. Applications close 20th February 2022. APPLY HERE

​​​​If you have any questions about the application form or the course in general please email bayes-training@ed.ac.uk

Once complete, your application will be processed in 1-2 weeks. Applications will be processed on a first come, first served basis with priority given to applicants who meet the criteria for a funded place. We aim to email all applicants within 2 weeks of submission regardless of the outcome of their application.

English Language Requirements

You must be comfortable studying and learning in English if it is not your first language.