Duration

3 days

Application deadline

8 August 2025

Objective

This course is designed for central bank officials with a focus on sustainability, climate and monetary policy. It follows the recommendation of the “Sustainability Training Reference Guide” (STaR Guide) released by the Network for Greening the Financial System (NGFS), available via the Climate Training Alliance (CTA) Portal. The course requires intermediate knowledge, such as that provided by the foundation course “Understanding climate risk – an introduction”. However, it is not mandatory to have taken that specific course; it is permissible for participants to have acquired their intermediate knowledge from other sources.

The STaR Guide provides a structure and recommendations for central banks and financial supervisors to systematically establish a capacity building strategy on the basis of climate-related and environmental knowledge. Capacity building is key to the acceleration of upskilling in the NGFS central banking and supervisory community, as well as a priority of the NGFS Chair, Bundesbank Executive Board member Sabine Mauderer. As emphasised by the NGFS (2021), a continuous upskilling of knowledge is necessary to account for an evolving understanding of climate‑related and environmental risks and to implement robust risk management practices.

Content

• Climate change and monetary policy implementation – fundamental considerations
• Introduction and current developments in the Network for Greening the Financial System
• A practical example: the Eurosystem’s climate change action plan after two years of implementation
• Greenness in the collateral framework
• Climate-related financial risks and the central bank balance sheet
• Greening the Inhouse Credit Assessment System of the Deutsche Bundesbank
• Sustainable finance data hub

Target group

The expert panel is targeted at central bankers who are directly involved in monetary policy implementation, with many years of experience working in this field. Candidates should have extensive knowledge and a sound understanding of monetary policy implementation and operational frameworks and should be familiar with the debate on green finance and climate change as a source of risk. Participants will be expected to contribute actively to the panel by presenting the work/viewpoint of their central bank on this topic.