FSDF e-Campus | Certified Expert in Climate Risk Management

As the climate crisis further tightens its grip, the threats it poses to economies, businesses and societies only continue to escalate. Risk has always been inherent in the delivery of financial services, whether it be credit, operational or market. Such risks are well-defined, with historical data available to manage them. Managing the physical and transition risks of climate change however, is more complex and often involves more long-term, uncertain impacts.

Climate risk management is an essential part of a robust and modern business strategy. It aims to identify, assess and mitigate financial and operational risks posed by climate change, to ensure future sustainability and resilience and fulfilling global responsibilities.

The need for skilled managers who can navigate these risks has never been greater. The Certified Expert in Climate Risk Management course is designed to equip financial sector professionals with the analytical tools to identify, measure, and manage climate-related risks effectively. Over the course of six months, this online certification program delivers a comprehensive understanding of climate risk management, combining theoretical concepts with practical solutions to prepare participants for the challenges of accelerating climate change.

What Do We Offer?

An interactive e-learning course including video lectures, a PDF script for each unit, practical exercises and examples, ready to use excel tools, prompts for LLM-based research, online tests and case studies.
An online forum for discussing course-related questions and for exchanging experiences with your classmates, tutors and our support faculty at the Sustainable World Academy e-Campus.
Personalized support from your e-Campus team.
The possibility of attaining a Frankfurt School Certificate after passing the final exam or a confirmation of course completion after completing the course. After passing the final exam, you will earn 6 ECTS (academic credit points of the European Credit Transfer and Accumulation System). The points can be credited to other academic learning programs.

Tuition Fees*

Regular Tuition Fee: EUR 1,900

Early Bird Fee: EUR 1,600 (by July 15)

Discounts:

10% group discount (for 2 or more participants working for the same institution, informed to us before by an email)
10% for FS Alumni
for additional company package, please contact us.

Payment Options

Bank Transfer (bank fees to be covered by the participants)
Credit Card
PayPal

Payment in instalments is not possible.

*subject to change

Target Audience

This course is primarily aimed at financial professionals in the areas of risk management, compliance, internal audit, sustainability, corporate governance, as well as financial, prudential and non-financial reporting.

The programme is also relevant for:

Financial supervisory authorities and regulators

Employees of development banks and international donors
Alumni of other Frankfurt School Certified Expert programmes.

Workload & Prerequisites

The course takes 6 months assuming 6-9 hours of self-study per week. It consists of 7 units which build upon each other. You will take the units in sequence and will need to pass an online multiple choice test before accessing the next unit.

The CECRM course includes 2 mandatory assignments, which must be submitted on a specific date.

You are not sure if you will manage to complete the course within 6 months? No worries! You can apply for a course extension (6 more months) for a small administrative fee.

All of our Certified Expert programmes are open-enrollment; there are no specific requirements that must be documented, before registering for the course. That said, the following experience will be an asset for the Certified Expert in Climate Risk Management:

2 years experience in development finance / sustainable finance, or
2 years experience in risk management, or
equivalent academic background in finance and banking.

Dates

Course Start	Course End	Registration	Early Bird
Sept. 1	Feb. 29	Jun. 1 - Sept. 30	By Jul. 15
Mar. 1	Aug. 31	Dec. 1 - Mar. 31	By Jan. 15

Study Journey

Registration

Registration for the September intake is now open. Register by July 15 to take advantage of our early bird discount.

Register here

Course Content*

The primary objective of this course is to develop climate risk management professionals who can identify, assess, and mitigate climate-related risks in financial institutions. Participants will gain a basic understanding of the scientific basis for climate change scenarios, before we delve into regulatory frameworks, risk management methodologies, and the integration of sustainable practices into business strategies. By the end of the course, participants will be capable of developing and implementing robust climate risk management frameworks that align with international best practices and regulatory standards.

Unit 1

Introduction to Climate Change and Risk Management

Unit 1 serves as a foundational introduction to the core concepts of sustainable and green finance, financial risk management, and climate change. Recognizing the diverse backgrounds of participants, from those with expertise in green finance to those with a strong foundation in risk management, this unit is designed to level-set all participants, providing a comprehensive overview that bridges the knowledge gap between these two critical areas.

The unit begins by exploring the fundamentals of sustainable and green finance, including its key principles, the role of Environmental, Social, and Governance (ESG) factors, and the impact of climate change on financial markets. This section will provide participants with a solid understanding of how sustainable finance integrates with broader financial strategies to mitigate climate risks.

Next, the unit introduces the basics of financial risk management, focusing on its application within the financial sector. Participants will learn about various types of risks, such as credit, market, operational, and liquidity risks, and how these are influenced by climate change. The unit will also cover essential risk management frameworks, tools, and practices used in the financial industry, setting the stage for more advanced discussions in subsequent units.

Throughout the unit, the interconnection between climate change and financial risk management will be emphasized, highlighting how these two fields intersect to influence decision-making in the financial sector.

Unit 2

Transition & Physical Risks

Participants will identify the factors driving the transition to a low-carbon economy and the associated financial risks. They will assess the impact of both transition and physical risks on financial institutions' portfolios and operations, enabling them to develop strategies for managing these risks effectively. Participants will gain a comprehensive understanding of the tools and methodologies for climate risk assessment and integration into financial decision-making processes.

Unit 3

Effective Climate Risk Governance and Strategy

Participants will understand best practices in climate risk governance, including board oversight and integration into business strategy. They will develop an effective climate risk management framework aligned with organizational objectives, fostering proactive risk management and strategic decision-making. This unit aims to equip participants with the knowledge and skills necessary to implement robust climate governance structures and strategies within their institutions.

Unit 4

Measurement Methodologies for Climate Risk

Participants will familiarize themselves with various qualitative and quantitative methodologies used to measure climate-related risks. They will apply these measurement techniques to accurately assess the exposure of financial portfolios to climate risk, enabling informed risk management decisions. By understanding and implementing these methodologies, participants will enhance their ability to manage and mitigate climate risks effectively.

In this unit, participants will acquire the skills to analyze climate-related scenarios, conduct stress tests for organizational resilience, and perform sensitivity analyses to gauge the impact of various physical and transition risk drivers. They will be equipped to integrate these analyses seamlessly into a broader risk management and economic capital strategy and take a proactive approach to the evolving financial sector risk landscape.

Unit 5

Climate Transition Planning

Upon completion of this unit, participants will be equipped to develop comprehensive and effective climate transition plans for their organizations. They will learn to integrate sustainability principles, set realistic targets, engage stakeholders, and navigate the financial and regulatory landscape to ensure a successful climate transition. Participants will understand how to build a credible plan that aligns with international best practices and standards. Additionally, they will recognize the critical importance of green transition planning in enhancing the financial sector's resilience and contributing to global climate goals.

Unit 6

Regulations and Climate-Related Disclosures

This unit aims to provide participants with a comprehensive understanding of international regulations, guidelines, and commitments shaping the landscape of climate risk management and transition planning. Participants will be proficient in identifying relevant disclosure frameworks, interpreting reporting guidelines, and integrating sustainability disclosures into corporate governance structures. They will grasp the importance of transparent reporting in enhancing organizational resilience, reputation, and stakeholder trust amidst the challenges posed by climate change and shifting market expectations.

Unit 7

Building a Climate Finance Deal Pipeline

This chapter is about the deploying the risk management tools developed above to cultivate profitable business opportunities in sustainable finance. We explore the obstacles that hold back efforts to mainstream climate finance and develop a shortlist of success factors that should encourage the uptake of climate mitigation and adaptation initiatives.

The barriers to scaling up green finance revolve around …

the widespread short-term perspective of small businesses amidst highly volatile economic conditions,
the misalignment of sales incentives with the high-level climate finance strategy at the financial institution,
the (perceived) technical complexity and large investment volumes of green projects generally and of adaptation investments specifically.

The success factors in building a sustainable deal pipeline in climate finance include …

simple, replicable interventions that can be implemented with certainty in terms of technology and budgets.
creating MSME ecosystems around climate finance initiatives and larger infrastructure projects developed in public private partnerships.
cultivating the symbiotic relationship between conventional small business credit and the climate finance agenda in the sense of “Inclusive Finance meets Climate Risk”.

Training Approach

The flexibility of our courses offers you the opportunity to follow your own schedule and to combine daily work with professional development.

The high quality offered will immediately improve your daily job performance as well as the performance of your institution.

This program is flexible and self-paced. It offers some online live sessions, such as introduction and final exam preparation sessions. These sessions will be recorded for those who cannot attend live.

Training Material

Video Lectures

Introvideos: After viewing the lectures, participants will have a basic understanding of each topic and will be able to classify importance and relevance of different techniques and aspects in a broader context.
Web-based Presentations: Web based presentation complement the scripts and give additional input on important topics.

Online Tests

Each unit ends with an online test comprising a set of 10 - 15 multiple choice questions. Only after having successfully completed an online test you will gain access to the next unit.

Reading Material

A PDF script is for most of our courses the main studying material. This reading material provides basic concepts and principles applicable to the subject of each unit.

Prompts for LLM-based Research

Effective prompts are key to leveraging Large Language Models (LLMs) for ESG (Environmental, Social, Governance) research. Well-crafted prompts should be clear, specific, and context-rich to ensure accurate and relevant outputs. For example, instead of asking, “What is ESG?”, use a targeted prompt like, “Provide a detailed analysis of how ESG frameworks address carbon emissions in the manufacturing sector.” To enhance results, include instructions for the desired format (e.g., bullet points, summary), specify the scope (e.g., regional regulations), and request credible sources or data-driven insights. Iterative refinement of prompts, based on initial outputs, further improves accuracy and depth, enabling researchers to efficiently explore complex ESG topics.

Assignments

The key to successful learning is the immediate use of newly acquired knowledge and the transfer of theory into practice. Our online courses are therefore supplemented by mandatory assignments.

Discussion Forum

A course discussion forum enables the interaction between participants and trainers and facilitates the exchange of experiences as well as possibilities to ask questions or get clarifications.

Suggestions & Recommendations

While you decide on the timing and pace of your learning experience we would like to give you some recommendations on how to get the most out of this course:

Your schedule: We will provide you a course schedule including voluntary and mandatory deadlines. The course schedule serves as guideline for your personal learning schedule and will help you completing the programme within the given time frame.

Exercises: Even though the exercises in the script are not mandatory we strongly advise you to use them as an opportunity to check your knowledge and to prepare for the final exam.

Assignments: With the assignments you will learn how to apply the knowledge learned during the course. It is important that you take time to read the necessary material and to solve the assignment.

Networking Opportunities: Use the forum to introduce yourself your peers and start interesting discussions.

Final Exam

To obtain your certificate, you must pass a final examination.

Location: The final exam is conducted online (TestWe App).
Duration: The exam takes 2 hours.
Schedule: The exam is held twice a year, on the second Wednesday of March and September.*
Costs: The first attempt is included in the tuition fees. For the second and third attempts, an additional fee of 50 EUR* will be charged.

If you choose not to take the final exam, you will receive a confirmation of course participation upon completing the course.

Course Lecturers

Dr. Joachim Bald

Joachim is Frankfurt School’s most senior international advisor and a recognized expert in Treasury and Risk Management for banking and microfinance. He serves as lead consultant and trainer at the Frankfurt School Competence Center in Risk Management and regularly manages complex implementation assignments in Eastern Europe, Asia and Africa. Joachim maintains a large portfolio of advisory mandates including recent and ongoing interventions with EIB, EBRD, KfW, African Development Bank, as well as at Cairo Amman, Etihad and Ahli Bank in Jordan, HKL and PRASAC in Cambodia, XacBank and Khan Bank in Mongolia and many more.

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Dr. Bald is a Member of the Board of Directors at Bailyk Finance in Kyrgyzstan and at KMF Bank in Kazakhstan. At Frankfurt School, Joachim is the Academic Director of the Certified Expert in Risk Management and also teaches Asset Liability Management in the Certified Expert in Treasury and Markets (CETM) program in partnership with AEFMA. In his early career, Dr. Bald worked at Commerzbank AG, Frankfurt and Deutsche Börse Systems, the IT division of the German stock exchange in Frankfurt and Chicago. Joachim holds a German MBA (Diplomkaufmann), a doctorate in economics and is also a US Certified Management Accountant. Joachim is fluent in English, French, German and Russian.

Basel Chaban

Basel Chaban is a director and the head of the Risk Management & Regulation Competence Centre at the International Advisory Services of Frankfurt School of Finance & Management. He has 17 years of work experience in Risk management, finance and banking in Germany, Europe, Asia, Africa, and the MENA region. He recently led the development of climate risk stress testing framework for TBC Bank in Georgia as well as a similar assignment in Jordan. He has also advised Development Bank of Zambia on climate risk integration and Egyptian financial sector on climate risk approaches.

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His areas of expertise focus on Risk Management & regulations including climate risks and stress testing frameworks. Basel brings a deep knowledge in the international and European risk management regulations with focus on BIS, EBA, Basel committee on banking supervision (BCBS), Basel II, Basel III, IFRS 7, IFRS 9. Basel has led the implementation of various development finance projects around the world working with major international and development finance institutions, multilateral donor organizations and NGOs.

Andreas Igl

Since October 2024, Andreas Igl has been the BDO Endowed Professor for "Digital Data Analysis and Audit Support in Auditing" at TH Deggendorf and a lecturer at the University of the German Bundesbank for financial supervision and IT regulation. He is also the founder of BRAINBOARD GmbH, which focuses on the design, development, and testing of customer-specific prototypes in the field of artificial intelligence and data analysis.

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From October 2017 to September 2024, he was a professor at the same university in Hachenburg (Westerwald), teaching banking operations, financial supervision, banking technology, and anti-money laundering. The core focus of his current research and teaching activities revolves around data analysis and the applied use of AI methods for auditing business economists, particularly in auditing and financial supervisory authorities. His current work concentrates on the use of large language models (LLMs), IT supervision under DORA, ESG, digital data forensics, key figure-based overall bank management (including ICAAP and ILAAP), and innovative business models of financial institutions, including their transformation toward a sustainable future (ESG). After completing his studies, since 2007, he advised numerous financial sector clients with two medium-sized specialized consulting firms for risk management systems, most recently as the managing partner of a medium-sized consulting firm. His doctorate focused on the risk assessment of structured credit products.

Beyond your Certificate

Master of Leadership in Sustainable Finance

The Certified Expert in Financial Inclusion Policy is an Elective Module of the Master of Leadership in Sustainable Finance. Join our Master programme after completing the CEFI course and waive one elective module. Also, the amount you paid for the course will be deducted from the final tuition fee of the Master programme. Additionally, you will benefit from an alumni discount.

Frankfurt School Summer Academy

Our Summer Academy is designed to provide tangible take-home value: what you learn with us in Frankfurt, you can apply straight away in your own organisation. More than 1,000 participants over 20 years can’t be wrong – our trainings are cutting edge, delivered by leading experts in their field. Yet, most important for the great success of our Summer Academies is the profile of the participants. You bring the regional expertise, diversity of backgrounds and the unique practitioner’s perspective. Learning from each other is an integral part of our training philosophy. This is your opportunity to stretch your network all around the globe.

Diploma in Risk Management

The Certified Expert in Climate Risk Management is part of the curriculum of our Diploma in Risk Management. Enroll to our Diploma after completing the CECRM course and waive one module. Also, the amount you paid for the course will be deducted from the final tuition fee of the Diploma. Additionallly, you will benefit from our alumni discount.