Advanced ESG strategies for climate-responsive financial systems: central bank roles, risk management, and sustainable innovation
Advanced ESG strategies for climate-responsive financial systems: central bank roles, risk management, and sustainable innovation
Chair and speakers
Maryam Haghighi
Director, data science
Bank of Canada
Maryam Haghighi is the Director of Data Science at the Bank of Canada, where she provides strategic leadership for data science, including artificial intelligence and machine learning, in support of Canada’s central bank’s mandate.
She has successfully led diverse teams, from academic environments to global enterprises and private partnerships, to solve complex data problems for multi-billion-dollar projects on the ground and in the skies.
Prior to joining the Bank, she pioneered the first ever space-based data analytics system of a new satellite constellation. As Canada’s delegate to international panels under the United Nations, she provided data and modelling expertise for the global aviation risk management.
Previously, she successfully applied her expertise to a diverse range of projects within the Government of Canada, in health care and in not-for-profits.
She holds a doctorate in Mathematics and a Master of Science in Applied Mathematics from the University of Ottawa. She was a professor of mathematics and computer science courses and has been a technical consultant in patent processes. She has a deep passion for interdisciplinary work as well as supporting women in technology initiatives.
Marina M. Tavares
Senior economist
IMF
Marina M. Tavares is a senior economist in the Climate Change Structural Reforms Division of the IMF’s Research Department. Before joining RES, Marina led the working group on the interconnections between macroeconomic policy and inequality under FCDO-IMF Collaboration. Her research interests include macroeconomics, labor markets, AI, climate change, gender, and inequality. Before joining the Fund, Ms. Tavares worked as an assistant professor at Instituto Tecnologico Autonomo de Mexico (ITAM), and she holds a Ph.D. in Economics from the University of Minnesota.
Agenda
14:00 – 14:45
Course introduction and overview
- Outlining the course goals, and the relevance of central bank roles in climate and financial stability
- Evolving mandate of central banks and the integration of climate-related financial risks
- Why should your central bank address climate risk, why is it relevant, and what core functions do you want to target?
- Role of central banks vs. other financial institutions and government bodies
- Overview of key concepts: ESG, green finance, financial stability and political challenges
Rianne Luijendijk is Team Lead Responsible investing at the Dutch Central Bank. She is responsible for the development and implementation of DNB’s responsible investing approach for the own-account portfolios. She also chairs the sustainable and responsible investment workstream in the Network for Greening the Financial System, in which central banks and supervisors collaborate to advance their efforts to further integrate sustainability considerations in central bank’s portfolio management. Since 2020, the workstream has published a number of reports to assist central banks in their adoption of sustainable and responsible investment practices.
14:45 – 15:45
Transmission channels and central bank responses: analysing impacts on financial systems
- Identify climate risk transmission channels, both within the central bank and the institutions which are being regulated, and their financial implications
- Examine the role of financial regulation and central bank policy in mitigating climate-related financial risks
- Discuss the integration of climate risk into financial stability assessments and monetary policy frameworks (metrics and tools)
15:45 – 16:00
Coffee break
16:00 – 17:00
Navigating financial stability and climate transition risks in the shift to a net-zero economy
- Understand climate transition risks and their financial implication
- Examine central bank policy guidance for managing transition risks
- Explore the metrics and tools for assessing financial institutions readiness
14:00 – 14:45
Integrating ESG in central bank operations: framework development, policy alignment, and regulatory strategies
- Developing and implementing an internal ESG framework
- Harmonising ESG frameworks with existing green policies
- Strategies for embedding ESG into supervisory and regulatory practices
14:45 – 15:30
Data, tools, and methodologies for climate risk collaboration: emphasising granularity in lending and investment
- Understand the significance of granular data in climate risk assessment and decision-making
- Explore tools and methodologies for effective climate risk collaboration in lending and investment
- Practical techniques for integrating climate data into financial analysis and strategic planning
15:30 – 15:45
Coffee break
15:45 – 16:30
Transparent climate risk management: best practices in disclosure, reporting and communication
- Learn key methodologies for accurately measuring and reporting carbon footprints, aligning with global standards
- Explore best practices for ESG reporting, focusing on frameworks like TCFD and GRI for effective stakeholder communication
- Develop strategies to enhance transparency in climate risk and ESG disclosures, ensuring consistent and clear messaging, both internally and externally
16:30 – 17:00
Sustainable bonds and investments: fundamentals, central bank roles, and global initiatives
- Fundamentals of green bonds and sustainable investment for central banks
- Role of central banks in promoting transparency and efficiency in sustainable finance
- Overview of international cooperation among central banks on green finance
14:00 – 15:00
Harnessing technology and innovation for advancing green finance
- Explore the use of IoT, AI and digital technologies in gathering and analysing climate data
- Learn about strategies for financing climate technology and fostering a vibrant fintech ecosystem
- Discover the latest trends in green fintech and their potential to reshape the financial sector
15:00 – 15:45
AI-driven climate risk analysis: insights from Project Gaia
- Explore Project Gaia's proof of concept: Leveraging AI and LLMs for extracting climate-related indicators from corporate reports
- Understand the application of AI in financial climate risk analysis through real-world use cases
15:45 – 16:00
Coffee break
16:00 – 17:00
Chair wrap-up and outlook
- Summary of the course and key takeaways
- Discussion of the observed trends and case studies
- Preparation of action points
Rianne Luijendijk is Team Lead Responsible investing at the Dutch Central Bank. She is responsible for the development and implementation of DNB’s responsible investing approach for the own-account portfolios. She also chairs the sustainable and responsible investment workstream in the Network for Greening the Financial System, in which central banks and supervisors collaborate to advance their efforts to further integrate sustainability considerations in central bank’s portfolio management. Since 2020, the workstream has published a number of reports to assist central banks in their adoption of sustainable and responsible investment practices.