Course Introduction and Background

Climate change is now certain, so we must plan for the reality that dangerous changes in weather patterns will disrupt economic activity. In one scenario, disaster losses could reach over 1 trillion USD in a single year by 2040. The impacts will be worse in developing countries, where capacity to manage disasters is lower, and could impede progress towards achieving the Millennium Development Goals. This is a very real threat that affects every financial institution and its clients.

UNEP FI is a global partnership between UNEP and the financial sector. Over 160 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 group has published several studies on this issue, such as its landmark 2002 Climate Risk Study, and most recently, a report addressing the role of the finance sector in adapting to climate change.

The collaboration of UNEP FI, UNITAR, UNEP FI Australasian Credit Risk Advisory Committee and Bank of America 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.

Using UNITAR's experience and pedagogical approach, this e-Learning course aims to share knowledge with financial institutions, both banks and insurers, and 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. 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, as with all UNITAR courses, participants will have access to external links which will connect them to relevant and important online documents and websites. Through this e-Learning course, participants will have a unique global networking opportunity, through the interaction on the Discussion Board.

With the combination of UNITAR's unique e-Learning methodology and expertise in training, and UNEP FI's research and knowledge in the area of Climate Change, this course offers future participants an opportunity to take part in a comprehensive, innovative and effective global e-Learning program.