Wednesday, July 24, 2024

PRB Academy Rolls Out Novel Nature Course for Banking Sector

In an initiative that underscores the crucial role banks can play in the stewardship and revitalisation of our natural world, the global educational platform for sustainable banking, the Principles for Responsible Banking Academy (PRB Academy), has introduced a groundbreaking course, “Introduction to Nature and Responsible Banking”.

At a juncture where the planet is grappling with the formidable challenges of climate change, pollution, and the erosion of nature and biodiversity, the dependence of over half the world’s GDP (equivalent to $58 trillion) on nature, as revealed by PWC research, underscores the urgency of broadening the knowledge and understanding of banking professionals globally about the indispensable role of nature for the wellbeing of our planet, societies, businesses, and economies.

This innovative course is designed to empower banking personnel worldwide to enhance their expertise on this vitally important subject, regardless of their position or level of experience. It offers insights into the fundamental reasons why nature matters to a responsible banking practice, introducing key methodologies and advice that banks can utilise to assess and mitigate their impacts and risks associated with nature, thereby uncovering avenues to positively influence the natural world – not merely arresting its decline but aiding in its recovery.

Aligned with the principles of the United Nations’ newly inaugurated Taskforce on Nature-related Financial Disclosures (TNFD) framework, the course advocates for the inclusion of natural factors in the strategic and financial planning processes. Learners are encouraged to contemplate their learnings and consider their applicability to their banking roles, focusing particularly on client engagement concerning nature-positive prospects.

Simon Thompson, Chief Executive of the Chartered Banker Institute, shared his enthusiasm about the course: “The Chartered Banker Institute is delighted to launch this new nature course with our partners. It is designed to help all bankers everywhere develop an awareness of nature dependencies, nature loss and nature risks and opportunities – and how banks and bankers can apply a nature lens to our decisions and financing activities.

“Tackling the Triple Planetary Crisis of climate change, pollution and nature loss requires raising the collective understanding of the banking sector of the issues involved, and how we can address these through our professional practice. All PRB signatories – indeed all banks – should therefore integrate this learning into their professional development programmes and pathways for all colleagues.”

Adding to this, Eric Usher, Head of the United Nations Environment Programme Finance Initiative, stated: “This new course will help banking professionals increase their knowledge of nature and biodiversity, as well as the connections between nature, climate and pollution, and just how much their clients’ businesses depend upon the natural world. They will learn how to better identify risks and opportunities related to nature in their day-to-day work, benefiting both banking operations and our society as a whole.”

Elliot is the Editor at ABCMoney. He manages a team that writes and contributes to many leading publications across a number of industries.

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