Course Overview

The global transition to a green economy presents both significant opportunities and challenges for governments and financial institutions. Climate change, environmental degradation, and resource scarcity are increasingly influencing economic policy and financial decisions. In the ECA region, countries face pressures related to industrialization, decarbonization, and meeting international climate targets while fostering sustainable economic growth. Recognizing these challenges, the JVI course is designed specifically to help Ministries of Finance representatives in the ECA region develop the knowledge and practical skills to integrate green development goals into national economic strategies.

This one-week course will provide participants with a comprehensive understanding of the financial, fiscal, and institutional mechanisms needed for sustainable green growth. The course covers critical issues such as:

• Managing Climate-Related Fiscal and Financial Risks: Participants will learn to assess and manage the financial risks posed by climate change, such as the impacts of extreme weather events, changes in energy prices, and new climate-related regulations. 
• Promoting Green Industries: The course will explore how Ministries of Finance can incentivize the growth of green industries, including renewable energy, electric mobility, and green technology, to drive long-term economic growth.
• Supporting Decarbonization Efforts: Participants will examine strategies for reducing carbon emissions across sectors like energy, transport, and agriculture, while understanding the financial implications of such efforts.
• Designing Climate Mitigation and Adaptation Policies: A key focus will be on how to design effective climate policies that attract private investment, support long-term sustainability, and comply with international climate commitments.
• Institutional, Structural, and Regulatory Reforms for Green Industrialization: The course will explore the necessary reforms to create an enabling environment for green industrialization, including tax policies, market-based instruments, and government regulations.
• Carbon Border Adjustment Mechanism (CBAM) and Carbon Pricing: Participants will learn about innovative market mechanisms like CBAM, carbon pricing, and other financial instruments that create market incentives for climate action.
• Economic Diversification and Modernization: The course will emphasize how the climate transition can drive broader economic diversification and modernization, particularly in countries with heavy reliance on fossil fuel industries.

Throughout the course, participants will engage with a mix of presentations, discussions, and hands-on exercises, where they will apply analytical tools and models to assess climate-related risks and design strategies for green investment. By the end of the program, participants will be equipped with the practical skills to engage with both national and international frameworks for green development. They will also gain insights into how to integrate green development goals into financial planning and policymaking.

Learning Outcomes

By attending the "International Dimensions of Green Development" course, participants will:

1. Develop a deep understanding of the economic and financial challenges and opportunities associated with green development.
2. Acquire analytical tools and models for assessing climate risks and formulating actionable strategies for green investments.
3. Learn how to design and implement climate policies that promote sustainable economic growth and attract private investment.
4. Enhance their capacity to drive structural and regulatory reforms for green industrialization in their respective countries.
5. Understand key international mechanisms such as the Carbon Border Adjustment Mechanism (CBAM) and carbon pricing, and how they can be leveraged for green growth.

The course will also provide a unique opportunity for Ministries of Finance representatives to engage in peer-to-peer learning, share best practices, and collaborate with experts from international financial institutions and development organizations.

Course Details

Target Audience: 
The course is specifically designed for representatives from Ministries of Finance in countries within the ECA region, particularly those with responsibilities for climate-related issues, sustainable economic policy, and green development. We are primarily aiming to reach representatives from Ministries of Finance, but representatives from other relevant government institutions are also welcome to apply. Also, while the focus is on the ECA region, expressions of interest from officials in other regions will also be considered.

Dates: February 24–28, 2025

Location: Joint Vienna Institute (JVI) Headquarters, Vienna, Austria. 

Application Information: For more details on how to apply, or for any inquiries regarding the course, please contact: William Hynes, whynes@worldbank.org and Hugo Lapeyronie, hlapeyronie@worldbank.org 

Deadline to Apply: Please express your interest by December 8, 2024.

Join us in Vienna for this transformative training opportunity to become a key player in your country's green development agenda! For further information and to view the full course schedule, please visit the JVI Course Page.