Climate Scenario Analysis from Udemy

If you would like to increase your knowledge of climate scenario analysis with reference to the requirements and best practices from organizations and regulators around the world with some case studies from the energy and finance sectors.

I will also show you how to implement these requirements by taking you through a typical three-month work plan to implement a climate scenario analysis framework. This will start by preparing a board-level paper for approval, then choosing the right climate models and corresponding scenarios and data, through to conducting workshops with the businesses and functions. Finally, I will show you how to present the results of the work to the board meeting and then implement the process into the regular strategic planning cycle and climate risk management process.

In the final part of this training course, I provide an overview of the key elements of the International Financial Reporting Standards Although the ISSB has granted at least one-year relief to companies on sustainability disclosures under S1, not for S2, on climate-related reporting that is seen as more urgent. So, this standard must be complied with from 1st January 2014. That is why I have called this training course target 2024.

This is the right course for you if you are new to climate scenario analysis and want to learn what it is, including best practices, and how to implement them in accordance with the reporting standards across various jurisdictions.

What's inside

Syllabus

Introduction

Slides, references and using Udemy

Course structure

Explain the definitions and fundamental concepts of climate models and climate scenarios.

Test of knowledge about which organizations influence the requirements

Finance and energy sectors

Key questions to implement a three month plan

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Explores best practices from organizations like NGFS and the Bank of England, offering insights into climate scenario analysis within finance and energy sectors

Provides a three-month work plan for implementing a climate scenario analysis framework, which includes preparing board-level papers and conducting workshops

Examines case studies from BP, UK National Grid, HSBC, and Barclays, which provides practical examples of climate scenario analysis in action

Covers the key elements of IFRS S2, which is essential for companies needing to comply with climate-related reporting standards from January 1, 2024

Requires understanding of climate models and scenarios, such as Representative Concentration Pathways and Shared Socioeconomic Pathways, which may require additional research for some learners

Focuses on IFRS S2 compliance starting in 2024, so the content may become outdated as standards evolve beyond the 2024-2025 period

Reviews summary

Practical climate scenario analysis implementation

According to learners, this course offers a highly relevant and practical guide to climate scenario analysis, particularly focusing on IFRS S2 and global regulatory requirements. Students highlight the value of the three-month work plan example provided, finding it a clear roadmap for real-world implementation. While providing a solid overview of climate models and scenarios, and including insightful industry case studies, some learners felt certain technical areas could benefit from more in-depth coverage. Overall, reviewers find the course to be well-structured and essential for professionals needing to understand and implement climate risk reporting.

Covers essential models, scenarios, and industry examples.

"The overview of climate models, scenarios like RCPs and SSPs, was helpful in building a foundation..."

"The case studies from the energy and finance sectors were very insightful and provided practical context..."

"I found the industry examples grounding for the theoretical concepts discussed earlier in the course."

"Good explanations of IPCC, climate models, and scenario types."

Excellent focus on IFRS S2 and global standards.

"The focus on IFRS S2 is highly relevant for my job in financial reporting and sustainability compliance..."

"Understanding the regulatory requirements from different organizations around the world was crucial and well-covered..."

"This course provided exactly the compliance information I needed regarding climate reporting standards."

"Very useful for navigating the complex landscape of climate-related disclosures like IFRS S2."

Provides a clear, actionable plan for implementation.

"The three-month work plan is incredibly practical and gives a clear roadmap for implementing climate scenario analysis..."

"I really appreciated the detailed steps on how to actually put the analysis framework into practice at my organization..."

"This section offered a step-by-step guide that felt very actionable and useful for real-world application."

"The practical aspect of demonstrating the implementation process was the highlight for me."

May be introductory on some technical topics.

"While the overview is good, some sections on modeling or technical aspects could benefit from more detailed explanation..."

"If you already have a strong background in climate modeling, some parts might feel a bit introductory..."

"I felt some complex technical areas were only briefly touched upon and could be explored further..."

"Might need supplementary material for deeper technical understanding in certain areas."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Climate Scenario Analysis with these activities:

Review Climate Models

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Refresh your understanding of climate models to better grasp the scenario analysis techniques covered in the course.

Browse courses on Climate Models

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Review the different types of climate models.
Understand the assumptions and limitations of each model.
Summarize the key outputs of climate models.

Review 'IFRS S2 Climate-related Disclosures'

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Familiarize yourself with the IFRS S2 standard to understand the reporting requirements for climate-related disclosures.

View Putting Knowledge to Work on Amazon

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Download the IFRS S2 document from the IFRS Foundation website.
Read the standard carefully, paying attention to key definitions and requirements.
Identify the implications of the standard for climate scenario analysis.

Read 'The Sixth Extinction: An Unnatural History'

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Gain a broader understanding of the potential impacts of climate change by reading a book that explores past extinction events and the current biodiversity crisis.

View The Sixth Extinction (young readers adaptation)... on Amazon

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Obtain a copy of 'The Sixth Extinction'.
Read the book, taking notes on key concepts and examples.
Reflect on how the book's themes relate to climate scenario analysis.

Three other activities

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Show all six activities

Compile a List of Climate Scenario Data Sources

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Create a compilation of publicly available climate scenario data sources to facilitate future analysis.

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Research different organizations that provide climate scenario data.
Compile a list of data sources, including links and descriptions.
Categorize the data sources by type and geographic coverage.

Create a Presentation on Climate Scenario Analysis

Show steps

Solidify your understanding of climate scenario analysis by creating a presentation that explains the key concepts and methodologies.

Show steps

Research different climate scenarios and their potential impacts.
Develop a presentation outline with clear sections and visuals.
Present the material to peers or colleagues for feedback.

Develop a Climate Risk Assessment for a Hypothetical Company

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Apply the concepts learned in the course by developing a climate risk assessment for a hypothetical company in a specific industry.

Show steps

Choose a hypothetical company and industry.
Identify the company's key climate-related risks and opportunities.
Develop climate scenarios and assess their potential impact on the company.
Recommend strategies for mitigating climate risks and capitalizing on opportunities.

Career center

Learners who complete Climate Scenario Analysis will develop knowledge and skills that may be useful to these careers:

Climate Risk Manager

Climate Risk Managers identify, assess, and mitigate climate-related risks for organizations. They use climate scenario analysis to understand potential impacts on assets, operations, and supply chains. This course directly aligns with this role, providing foundational knowledge and practical implementation strategies for climate scenario analysis. The content concerning climate models, scenarios, and data selection may be very important in producing risk reports for organizations. Additionally, the course's coverage of international reporting standards, may be helpful when discussing climate-related risk with stakeholders.

See salaries and explore the career path for Climate Risk Manager

Sustainability Consultant

A Sustainability Consultant helps organizations integrate sustainable practices into their operations and strategies. This often involves conducting climate scenario analysis to understand potential risks and opportunities. This course is directly relevant as it covers the requirements and best practices for climate scenario analysis from various organizations and regulators. The course's focus on implementing a climate scenario analysis framework, including preparing board-level papers and conducting workshops, helps build the skills needed to advise companies on climate risk management and strategic planning. The course may be useful in understanding how to develop climate-related reporting in accordance with the International Financial Reporting Standards.

See salaries and explore the career path for Sustainability Consultant

Corporate Strategist

Corporate Strategists help organizations develop and implement strategies for long-term success. Increasingly, this involves incorporating climate-related risks and opportunities into strategic planning. This course is directly applicable to this role, providing the knowledge and skills to integrate climate scenario analysis into the strategic planning process. The course's focus on implementing a climate scenario analysis framework, including preparing board-level papers and conducting workshops, can help a corporate strategist contribute to long-term organizational success.

See salaries and explore the career path for Corporate Strategist

ESG Analyst

An ESG Analyst evaluates companies based on their environmental, social, and governance performance, which increasingly involves assessing climate-related risks and opportunities. The course can help an ESG Analyst understand the requirements for climate scenario analysis from different organizations around the world. The course may be useful in understanding the latest best practices from the finance and energy sectors. One who wishes to enter the field of ESG analysis may find the International Financial Reporting Standards overview to be useful in understanding the requirements of IFRS S2. It is helpful in understanding the objective and core content of IFRS S2.

See salaries and explore the career path for ESG Analyst

Energy Consultant

Energy Consultants advise organizations on energy efficiency, renewable energy adoption, and climate risk management. This role involves understanding climate scenarios and their potential impacts on energy systems. This course may be useful, providing an overview of climate models, scenarios, and requirements for climate scenario analysis. An Energy Consultant may find the discussion of the IEA's World Energy Model to be particularly useful, as are the case studies of BP and UK National Grid. Those in the field of energy consulting may find value in this course.

See salaries and explore the career path for Energy Consultant

Environmental Analyst

An Environmental Analyst assesses the environmental impact of projects and policies. This often includes analyzing climate scenarios to understand potential environmental risks and opportunities. This course is valuable for Environmental Analysts as it provides a comprehensive understanding of climate models, scenarios, and best practices in climate scenario analysis. The course's coverage of international reporting standards and case studies from the finance and energy sectors may be helpful in producing environmental impact assessments. The information on preparing board-level papers for approval may also be useful.

See salaries and explore the career path for Environmental Analyst

Investment Analyst

Investment Analysts evaluate investment opportunities, and increasingly need to assess climate-related risks and opportunities to inform investment decisions. This course is directly related to this need, providing an overview of climate models, scenarios, and the requirements for climate scenario analysis from different organizations. This may be useful in understanding best practices from the finance and energy sectors, and in understanding how to implement climate scenario analysis, including preparing board-level papers and conducting workshops. The discussion of the Glasgow Financial Alliance for Net Zero may be helpful in producing investment reports.

See salaries and explore the career path for Investment Analyst

Financial Risk Analyst

A Financial Risk Analyst assesses and manages financial risks for organizations, including those related to climate change. The course's discussion of the Bank of England's Biennial Exploratory Scenario and the Financial Stability Board may be helpful in understanding the best practices in the finance sector. This course's focus on implementing a climate scenario analysis framework, including preparing board-level papers and conducting workshops, may be helpful for a Financial Risk Analyst. One who wishes to enter this field may find the information on IFRS to be helpful.

See salaries and explore the career path for Financial Risk Analyst

Policy Advisor

Policy Advisors develop and recommend policies related to climate change and sustainability. They need a strong understanding of climate science, policy frameworks, and scenario analysis. A Policy Advisor may find this course to be helpful as it provides an overview of climate models, scenarios, and the requirements for climate scenario analysis from different organizations. This course could be helpful in understanding best practices from the finance and energy sectors. The coverage of international reporting standards may be helpful for those advising on policy.

See salaries and explore the career path for Policy Advisor

Chief Sustainability Officer

Chief Sustainability Officers (CSOs) lead an organization's sustainability efforts, integrating environmental and social considerations into business strategy and operations. This course is directly relevant to a CSO. It may be useful in understanding the requirements and best practices for climate scenario analysis from various organizations and regulators. The course's focus on implementing a climate scenario analysis framework, including preparing board-level papers and conducting workshops, can help with sustainability initiatives. The discussion of IFRS may be helpful for climate-related financial reporting.

See salaries and explore the career path for Chief Sustainability Officer

Actuary

Actuaries assess and manage financial risks, often using statistical models and scenario analysis. Increasingly, they are incorporating climate-related risks into their assessments. This course may be useful for Actuaries as it provides an overview of climate models, scenarios, and the requirements for climate scenario analysis from different organizations. The course may be useful to one in the field of Actuary, as this course also discusses best practices from the finance and energy sectors. The Actuary may also find the information on IFRS to be helpful.

See salaries and explore the career path for Actuary

Climate Scientist

Climate Scientists research and analyze climate change, often using climate models and scenario analysis to project future climate conditions. While many climate scientist roles typically require an advanced degree, this course can supplement their knowledge. This course is useful, providing an overview of climate models and scenarios, specifically Representative Concentration Pathways and Shared Socioeconomic Pathways. This course's discussion of requirements for climate scenario analysis from different organizations and regulators may be helpful.

See salaries and explore the career path for Climate Scientist

Data Scientist

Data Scientists analyze large datasets to identify trends and insights. In the context of climate change, they may work with climate models and scenario data to support decision-making. This course may be useful for Data Scientists, providing an overview of climate models and scenarios, specifically Representative Concentration Pathways and Shared Socioeconomic Pathways. The course's coverage of data collection templates for climate scenario analysis may be helpful. The discussion of best practices from the finance and energy sectors may also be relevant.

See salaries and explore the career path for Data Scientist

Business Analyst

Business Analysts analyze business processes and identify areas for improvement. They may use scenario analysis to understand the potential impacts of different business decisions. This course may be useful for Business Analysts as it provides an overview of scenario analysis and its application in the context of climate change. The course's focus on implementing a climate scenario analysis framework, including preparing board-level papers and conducting workshops, may be helpful. A business analyst may find value in studying the questions presented regarding a three month sustainability plan.

See salaries and explore the career path for Business Analyst

Software Engineer

Software Engineers design, develop, and test software applications. While seemingly unrelated, software engineers may work on developing climate models or tools for analyzing climate data. This course may be useful as it provides an overview of climate models and scenarios. The course's coverage of climate scenario data collection templates may be helpful. By understanding the landscape of climate scenario analysis, the Software Engineer may find how to contribute solutions. The discussion of best practices from the finance and energy sectors may also be relevant for the Software Engineer who wishes to build novel solutions.

See salaries and explore the career path for Software Engineer

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Climate Scenario Analysis.

Putting Knowledge to Work

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This standard outlines the requirements for disclosing climate-related risks and opportunities. It is essential for understanding the reporting landscape and ensuring compliance. Reviewing this document will provide a solid foundation for implementing climate scenario analysis in accordance with international standards. This useful reference tool.

Putting Knowledge to Work

Paperback

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Putting Knowledge to Work

Kindle Edition

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The Sixth Extinction (young readers adaptation)

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Provides a broad overview of past extinction events and the current biodiversity crisis. It offers a compelling narrative about the impact of human activities on the planet's ecosystems. Reading this book will help students understand the urgency and importance of climate scenario analysis in mitigating future environmental risks. It is valuable as additional reading to provide context.

The Sixth Extinction (young readers adaptation): An...

Kindle Edition

Climate Scenario Analysis

What's inside

Syllabus

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Reviews summary

Practical climate scenario analysis implementation

Activities

Career center

Reading list

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