The third module is offered through an intensive specialized course entitled “Climate and Green Finance Agenda in EU”, which will be addressed to all interested students from all study programs offered at the Faculty of Economics, and possibly involve also students and professionals beyond the institution. The module will address issues related to the impact of climate change and energy-related mitigation policies on financial markets in EU. The course program includes knowledge about sustainable development, EU integration agenda on Climate Change, climate finance, “green” climate financial instruments, risks and opportunities caused by climate change in financial markets, sustainable financing in the EU and in Developing countries.
1. Climate Change (CC Problem: Global Impact and Mitigation Policies – How does it affect the EU and Albania? What next?
In this lecture we state the importance of acknowledging CC as a top priority (how is recognized by major countries, EU and Albania), understand its impact on the environment, social and economic welfare and discuss ways and tools to mitigate it. What are major initiatives and ways to cope with it (Kyoto, /Paris etc)?
2. The economics of CC and Sustainability Policies – What works and what doesn’t?
A review of key economic concepts and EU Country Practices.
Introducing key economic concepts on CC and sustainability. A review of successful and unsuccessful policies adopted and lessons learned (Ex. Germany with its 0 emissions operating plan). Where Albania stands in this path?
3. Carbon Trading Economics, linking ETMs, the leakage problem
Discusses pathways to achieve economies with zero net emissions. What are the challenges to the plan? Emission Trading Markets, carbon trading and the leakage problem.
4. The Energy Problem/Solution: How does energy cause and solve part of the problem?
The pursuit of economic growth and fossil fuel exploitation is a major factor in CC, so transitioning to renewables while maintaining energy supply is the real challenge. Review from global initiatives with a focus EU energy policies and EU countries.
5. Adjusting in a new world: transitioning to renewables challenges and opportunities
Discussing optimal pathways with CO2 null emissions and what does it imply for production mix. We focus in new technologies and increasing energy efficiency based on the EU Green Deal Agenda.
6. Common energy markets, their economics and design
Linking energy markets promotes renewables, and cuts energy losses. Energy market have complex designs, and are sensitive to regulatory frameworks. Their development and designs also gives birth to an energy finance market, which develops quickly.
7. The Green Deal, and green finances: Developing Financial Markets and instruments for environmentally friendly investments
What is the Green Deal? Showing EU perspective, and similar approaches in developing countries such as Albania
8. Risk management and Control for Green Instruments- Implications for financial institutions and Policymakers
To what risk sources are green instruments exposed to? Does it affect traditional risk management tools? How will policymakers and financial institutions cope with uncertainty. Evidence from EU countries.
9. Converging Fiscal Policies and tax systems toward the EU vision on Green initiatives
How are fiscal policies designed? How can they be designed to promote green initiatives? Challenges and opportunities.
10. Green Fiscal Policies. Is it good for Environment but bad for business? How will the business environment as we know it adapt to this new Green ERA?