SOAS Centre for Sustainable Finance trains Bank of Thailand on climate and environmental risks
The Centre for Sustainable Finance at SOAS University of London held a training programme on Climate Risk and Sustainable Finance Development for the Bank of Thailand.
On 13-15 December, the programme was delivered in partnership with the P3S Academy at the University of Oxford and Theia Finance Labs and funded by UK Partnering for Accelerated Climate Transitions (UK PACT).
The programme was tailored to accelerate the green finance capacity of the Bank of Thailand while providing participants with a solid understanding of climate and environmental risks and the challenges they pose to financial and macroeconomic stability. Participants were also taught about a range of financial policy instruments and initiatives and their potential to integrate environmental constraints within monetary policy and supervisory frameworks.
Professor Ulrich Volz, the Director of the SOAS Centre for Sustainable Finance, says:
“The SOAS Centre for Sustainable Finance is delighted to continue and strengthen its collaboration with the Bank of Thailand through this UK PACT partnership with Oxford and Theia Finance Labs. In this joint capacity building effort and the advisory work on developing a climate stress test for the Bank of Thailand that we have been undertaking together, we have built on our respective strengths, helping the Bank of Thailand to step up its work on addressing climate risks and the alignment of the Thai financial system with climate and sustainability goals.
[We] have built on our respective strengths, helping the Bank of Thailand to step up its work on addressing climate risks and the alignment of the Thai financial system with climate and sustainability goals
“Participants were given insights into the tools and approaches that they can use to assess and monitor these risks and how they can design appropriate policy measures to mitigate them, such as mobilising transition finance and integrating transition plans”, explained Matt Scott, Executive Director of the UK’s Centre for Greening Finance and Investment, based at the University of Oxford.
“We are thrilled by the Bank of Thailand’s exceptional comprehension and active involvement in the capacity-building process within this collaboration and hope that the advanced insights, including those from tools like the 1in1000 Transition Risk Stress Test, will play a crucial role in mitigating financial risks associated with climate change in Thailand,” said Theia Finance Labs.
We are thrilled by the Bank of Thailand’s exceptional comprehension and active involvement in the capacity-building process within this collaboration and hope that the advanced insights ... will play a crucial role in mitigating financial risks associated with climate change in Thailand
Chuenchanok Jantanalikhit, UK PACT Climate Change Programme Manager, commented: “This interactive course allowed the speakers to tailor content to fit with the audience’s interest and background – from raising awareness in climate risk and provide guidance on how to make use of climate risk data.”
The SOAS Centre for Sustainable Finance has been working with many central banks around the world on addressing climate and nature risks and has been conducting numerous capacity building programmes in this area for central banks and financial supervisors.
Over the last 2-years, the SOAS Centre for Sustainable Finance has co-convened the ‘ASEAN Core Curriculum on Climate Risk Resilience/Sustainable Finance’ which SOAS developed together with the South East Asian Central Banks (SEACEN) Research and Training Centre on request of the ASEAN central bank governors. In Southeast Asia, the SOAS Centre for Sustainable Finance has recently also delivered capacity building programmes for the Monetary Authority of Singapore and Bank Negara Malaysia, the Malaysian central bank.
The SOAS Centre for Sustainable Finance recently also supported the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, in developing its Sustainable Central Banking Strategy.
Picture: Jakob Owens via Unsplash.
