ClimaLab

ClimaLab

IFC’s Climate Risk Management and Paris Alignment Lab (ClimaLab) will equip financial institutions (FIs) with the foundational knowledge, tools, and skills they need to build a robust climate risk management system and meet regulatory requirements.

The information presented on ClimaLab will help FIs: meet European Central Bank (ECB) requirements; meet the technical standards of the EU's Corporate Sustainability Reporting Directive (CSRD); use EU Taxonomy to assess assets and activities; and, meet the European Banking Authority’s (EBA’s) Capital Requirements Directive and Capital Markets Regulation. Through ClimaLAB’s practical assignments, participants will draft Transition and Adaptation Plans for their FIs. ClimaLAB is a cohort-based, 10-week capacity-building program. Each cohort includes three to four financial institutions, with up to 20 participants representing each FI. Individual sessions will provide guidance and a review of practical assignments. The online format includes access to a learning management system.

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WHY ClimaLab

The changing climate represents a systemic risk to the real economy and the financial sector. The European regulatory framework is pressing financial institutions to integrate climate risk in decision-making and support the EU’s transition to net zero. Banks must manage portfolio risks while also financing sustainable initiatives. Robust climate risk management is imperative on both fronts.

Methodology

Overview of the training program: A modular approach

Module 1

Paris Agreement and Climate Risks

Module 2

Climate-Related and Sustainability Regulatory Framework

Module 3

Climate Risk Management AS-IS Assessment

Module 4

Assessing Physical Risk Exposures

Module 5

Assessing Transition Risk Exposures

Module 6

Transition and Adaptation Planning

WHY ClimaLab

Methodology

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