New course to assess climate change risks and opportunities in the financial sector

For financial institutions to better understand the risks and opportunities resulting from climate change, UNEP-FI and CAF-development bank of Latin America- are offering them a new training course that will make it possible to assess climate risk in the operations portfolio and to internalize the recommendations of the Task Force on Climate Related Financial Disclosure (TCFD). The latter, promoted by the Financial Stability Board (FSB), strives for transparency in terms of climate change-related risks.

The TCFD seeks to develop recommendations so that voluntary financial disclosures related to climate can be made, which are consistent, comparable, reliable, clear and efficient and provide useful decision-making information for lenders, insurers and investors. 

The course, developed within the framework of Strengthening Environmental and Social Management capabilities for Financial Institutions provided by CAF to Latin American countries, is to begin in November and will be aimed at banks’ executives and mid-level managers, both within developed and developing regions, and also at government and civil society representatives willing to learn more about the risks and financial opportunities resulting from climate change, as well as prospective evaluation methods. 

CAF will continue encouraging its strengthening and support for financial institutions in the region, for them to incorporate these recommendations in their activities; hence, in 2019, the course will be translated into Spanish and Portuguese to reach an increasing number of qualified Latin American entities.