PREPARING THE PUBLIC AND FINANCIAL SECTOR FOR CLIMATE TRANSITION RISK: CAPACITY BUILDING AND CALL TO ACTION (Phase 1)

The project will deliver five outputs to address low levels of knowledge, capacity and preparation on transition risks in Colombia. First, it will create new knowledge through the development of novel course material based on the principles of Climate Transition Risk (CTR) management and the existing methodologies to assess it (output 1). Second, it will implement the first module of the course (Principles and methodologies of CTR) that will enhance the skills of 80 professionals from private, public and academic sector on the main concepts, methodologies and theories of CTR assessment and management (output 2). Third, it will develop applied research by running CTR tools and analyses on investment portfolios of Colombian insurers, as well as the country impact, in order to better understand the current situation and progress made in their exposure to climate-related risks (output 3). Fourth, building on the applied research, the second module of the course, applying CTR management, will apply learning-by-doing methodology to guide the 80 course participants in the creation of action plans and projects for CTR management (output 4). Finally, a communication strategy will be implemented to disseminate the results and outputs of the project. Additionally, an online platform will be implemented to share lessons learned and inspire other companies and public institutions through the designed projects and action plans (output 5).