New Telegraph

AfDB, Oxford vasity partner on finance capacity building

The African Development Bank (AfDB) has partnered University of Oxford to provide training on sustainable finance for up to 1,000 public and third sector workers from across Africa, according to a press release. The University of Oxford’s Public and Third Sector Academy for Sustainable Finance is a global center of learning and capacity building.

It focuses on how the public and third sectors can unleash the opportunities associated with sustainable finance. The third sector includes registered charities, social enterprises, cooperatives, research institutions and non-governmental organisations. The nominees are enrolled in the academy’s “Introduction to Sustainable Finance” course free of charge.

Launched in November 2021 with funding from the IKEA Foundation and the European Climate Foundation among others, the programme has so far trained over 1,000 influential civil servants, regulators, and representatives of civil society. Over 40 per cent of participants are from developing countries.

The course provides government and third-sector staff with a grounding in sustainable finance. It equips them with the knowledge of key concepts, theories, and topics to successfully navigate this emerging field and identify and mobilize levers of change.

“We are delighted to partner with the African Development Bank,” said Andrew McCarthy, head of capacity building and partnerships at the Oxford Sustainable Finance Group and the academy’s deputy director.

 

He added: “Together, we will equip Africa’s public and third sectors with the knowledge, networks, and skills required to shift the direction of tens of trillions of dollars of capital away from unsustainable activities to those aligned with the Paris Agreement and UN Sustainable Development Goals.”

Dr. Ben Caldecott, the academy’s faculty chair and the Lombard Odier Associate Professor of Sustainable Finance at the University of Oxford, said: “The public and third sectors urgently need to develop broader and more in-depth capabilities in finance generally and sustainable finance in particular.

“This is currently a major capability gap and a persistent structural weakness that needs to be addressed systematically over time. We are looking forward to scaling the work of the academy alongside our partners. There is no time to lose.”

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