Climate Risk and Municipal Finance Certificate
Opportunity and Risk Facing the Municipal Industry
About the Course:
The Climate Risk and Municipal Finance Class was developed by Municipal Market Analytics (MMA) in conjunction with the Intercontinental Exchange (ICE). The class examines the impact of climate events on the municipal industry. It explores how existing disclosures, ratings, and pricing may not reflect the overall risk which climate impacts pose to investors. This could include insurance rate impacts, potential forced migration due to inhabitability of areas, and lack of government funding could lead to exponential municipal issuance as a way to pay for the new adaptation/resilience infrastructure required. The program explores the different types of climate risks and how these risks are typically assessed, the attention that climate risk has garnered despite limited action taken to date, the similarities and differences between pension and climate risk analysis, and the ways in which considerations related to disclosures, credit ratings, insurance, regulation and migration can be incorporated into risk analysis and investment decisions. Attendees will come away from the course with a nuanced understanding of the ways in which climate-related risks, opportunities, and challenges may affect the municipal market in the upcoming decades.
The program is 100% online and self-paced and provides a library of recorded lectures and content.
6 Lecture Hours. Slide decks available for download.
Eligible for 9 CPE credits.
Who Should Enroll
- Accounting, legal, financial, governmental and other professionals looking for CPE credit.
- Municipal professionals who want to acquire new skills in the area of municipal climate risk analysis.
- Public finance members, including federal, state and local government finance officials involved in planning, financing and operations looking for an deeper understanding of the impacts of adverse weather events on US public infrastructure.
- New foreign or domestic entrants to the municipal market.
- Private or public sector professionals in "resiliency" or similar roles looking to understand key attributes of municipal bond climate risk.
- Bond traders, sales professionals, underwriters, portfolio managers, municipal advisors, bankers and issuers looking to incorporate climate risk analysis in existing processes.
Clients and students of MMA's Continuing Education include leading investment firm, bank, security dealer, financial advisor, municipal advisor and data vendors. In addition, the industry’s major issuers and key regulators of the financial industry are clients.
On completion of this program, you will:
Identify the key points made to the US Senate Budget Committee on climate
Identify how climate risk is or is not present in the municipal market
Identify the groups the do or do not demand climate adaption accountability
Define the terms adaptation, resilience and mitigation
Identify the differences between adaptation and mitigation
Identify the cities who are focused and prioritizing resilience
Identify the states with 100% clean energy goals for mitigation opportunities and energy transitions
Identify the goals and initiatives of the Smart Surfaces Coalition in promoting climate resilience in cities.
Define the role and core beliefs of the American Society of Adaptation Professionals (ASAP) in promoting resiliency and adaptation.
Define the role of ASAP in supporting climate adaptation professionals and its core beliefs related to climate justice and adaptation.
Identify the long-term financial risks of delaying investments in climate adaptation, as compared to pension underfunding.
Identify the financial risks and liabilities associated with delaying adaptation funding for climate resilience.
Identify the potential financial pressures and market responses related to increased municipal borrowing for climate adaptation.
Identify factors that may lead to increased issuance of municipal bonds for infrastructure and climate adaptation projects.
Identify strategies for public finance professionals to assess and engage with issuer clients facing climate-related risks.
Click HERE for a complete list of Learning Objectives
Additional Information:
- No prerequisite knowledge is required to be successful in this course.
- No advanced preparation is required.
- Program Level: Basic.
- Recommended CPE Credit: 6 (MMA is approved by NASBA as a registered sponsor on the National Registry of CPE Sponsors)
- Recommended Field of Study: Finance
- Delivery Method: Online, QAS Self Study
- For CPE credit, the course must be completed no more than 1 year from the date of purchase.
- To Register: Enroll below.
- Most recent revision date: 2/7/2025
Your Instructors:
Tom Doe - CEO and Founder, Municipal Market Analytics
Dr. Phoebe DeVries - Senior Manager, ICE
Dr. Evan Kodra – Senior Director, Climate & ESG, ICE