IC214: Climate Change and Finance

Module code: IC214

Module provider: ICMA Centre; Henley Business School

Credits: 20

Level: 5

When you'll be taught: Semester 2

Module convenor: Dr Antony Moore, email: t.moore@icmacentre.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: Yes

Talis reading list: No

Last updated: 19 November 2024

Overview

Module aims and purpose

This module provides an overview of the scientific consensus on climate change and its projected social and economic consequences, in order to understand how the financial sector can help to mitigate and manage these impacts. It will discuss how climate change is becoming increasingly central to finance as governmental climate targets are incorporated into regulatory frameworks and investors demand ‘green’ products and services. The first half of the module will examine the latest projections for how the climate will change and the underlying science, assess how these changes will affect the economy and, ultimately, the financial sector, and consider the response by government and industry. The second half of the module will examine the potential role of the financial sector in mitigating climate change, for instance by directing investment away from carbon-intensive industries and towards more sustainable alternatives, and managing the risks posed by more frequent extreme weather events.

Module learning outcomes

By the end of the module, it is expected that students will be able to:

• collaborate in a group to explain the latest developments in climate change and their scientific basis
• discuss the potential impacts of climate change on the economy and wider society
• consider the latest national and international financial regulations and how they are intended to help mitigate or manage climate change risks
• evaluate the significance of climate change and associated regulations for the financial sector

Module content

1. Module introduction
2. Climate change: the latest projections
3. The scientific basis for climate change
4. The impact of climate change on wider society, the economy and the financial sector
5. National and International responses to climate change
6. Is there a role for finance in mitigating and managing climate change? Rationales for climate-focused regulation
7. Mitigating climate change 1 – market-based approaches
8. Mitigating climate change 2 – regulatory approaches
9. Managing climate change 1 – market-based approaches
10. Managing climate change 2 – regulatory approaches

Structure

Teaching and learning methods

Each topic is introduced by a lecture and followed by more detailed discussion in small group seminars.

Study hours

At least 30 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

The module is assessed using a numerical scale. The pass-mark is 40%

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: /cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs