Science of Climate Change
This module provides students with an understanding of the science basis of, and the need for action on, climate change. It shows how numerical modelling is used to provide quantitative scenarios for future environmental change, including greenhouse gas emissions and their consequences for temperature. Using a combination of data analysis and modelling, this module will cover in detail the greenhouse effect, atmospheric and ocean dynamics, historical climate change, and natural versus anthropogenic climate variability. The module will also include practical demonstrations on numerical modelling, allowing hands-on appreciation of how climate models provide quantitative predictions on the integrated components of the earth system.
Impacts and Adaptation to Climate Change
Adaptation is a pervasive theme of the climate change discourse at every level of governance, from households to international agencies. You will learn about the evolution of adaptation concepts, adaptation opportunities and responses, and disaster risk management. You will also learn about tangible action in terms of engineering and technology, ecosystem-based, institutional or social interventions, and also about the limits to adaptation and about maladaptation.
Mathematics and statistics are integral to business, accounting, economics and climate change science. You will study the principles and techniques, developing a structural analytical framework that will enable you to organise and interpret business data. Data analysis software, including geographical information systems (GIS) will also be introduced.
Financial and Carbon Accounting & Reporting
Accounting is at the core of many organisations’ operations. This module will show how accounting is necessary both for organisational finance and management, and to quantify environmental impacts and carbon emissions. The module will address the technical aspects of management accounting practices, which support the effective definition and delivery of strategic objectives. Budgets and balanced scorecards will also be shown as examples of organisation-wide control systems. The valuation of natural assets through environmental accounting, as well as the measurement, calculation, reporting and auditing of carbon, will also be addressed.
Risk Management and Climate Change
Risk and risk management are important dimensions for businesses, both in general and in relation to environmental and climate change. You will learn about different categories of risk faced by corporations such as market, currency, credit, liquidity, operational, and reputational risks, as well as environmental and climate risks. The rationale for risk management will be explained, including: why risk is costly to firms, post-loss financing tools, and hedging, insurance and self-insurance. Risk management and mitigation techniques applicable to insurance companies and pension funds will be used to introduce topics of reinsurance, and securitisation and pricing models. Executives from global insurance companies will present the challenges and financial issues faced by their sector in relation to climate change over different timescales.