SOAS Centre for Sustainable Finance Delivers Capacity Building Course on Climate Change and Monetary Policy for Southeast Asian Central Banks
Dr Yannis Dafermos and Prof Ulrich Volz convene intensive course on climate change and monetary policy in Kuala Lumpur.
From 9-11 December 2024, the SOAS Centre for Sustainable Finance convened a capacity building course on climate change and monetary policy co-organised with the South East Asian Central Banks (SEACEN) Research and Training Centre. The course was hosted by the Bank Negara Malaysia, Malaysia’s central bank, in Kuala Lumpur. This course was part of the ASEAN Core Curriculum on Climate Risk Resilience/Sustainable Finance which the SOAS Centre for Sustainable Finance and the SEACEN Centre have developed together on request of the ASEAN central bank governors in 2021.
The course was delivered by Dr Yannis Dafermos and Professor Ulrich Volz. The course provided staff from central banks with a solid understanding of the effects of climate change on the macroeconomy and how these matter for the design and conduct of monetary policy. Participants obtained insights into the macroeconomic modelling of physical and transition risks and an understanding of how monetary frameworks and policy tools can be adjusted to address climate-related risks and impacts and support the scaling up of sustainable finance. Participants also learned about the data and methodological challenges facing central banks when making monetary policy climate-aligned in practice. The course drew on cutting-edge research and international best practice and related to the specific challenges facing Asian developing economies.
The SOAS Centre for Sustainable Finance has a strong track record of delivering customised training programmes to central banks. Besides delivering the ASEAN Core Curriculum on Climate Risk and Sustainable Finance, the SOAS Centre for Sustainable Finance has recently convened capacity building programmes for the Brazilian Central Bank, the Monetary Authority of Singapore, the Central Bank of Argentina, Bank Negara Malaysia, Bank of Thailand, and the Central Bank of Oman. The SOAS Centre for Sustainable Finance has also developed and convened bespoke capacity building programmes for private financial institutions, including some of the largest banks in Africa, Europe and Asia. It runs an annual ‘Summer School on Sustainable Finance and Climate Change’ and a campus-based master’s course on ‘Green Finance’.
Members of the SOAS Centre for Sustainable Finance have helped numerous central banks – including in Albania, Argentina, Brazil, Cambodia, China, the EU, India, Indonesia, Japan, Philippines, Malaysia, Thailand and the UK – in developing climate stress tests, disclosure frameworks, ecological macro modelling tools and sustainable finance strategies.
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Header Image Credit: Jaanus Jagomägi via Unsplash.
