1. Internship Topic

“Meta-Analysis on Policies to Promote Climate Readiness for Financial Intermediaries and Corporates: International Evidence and Lessons for the PRC”

2. Summary of Job Description

Climate change brings financial challenges and opportunities. Climate change is the top emerging risk confronting the banking industry, impacting interconnected sectors. Financial intermediaries and corporates must, therefore, integrate climate risks into their risk management frameworks and compliance practices while innovating sustainable and transition finance solutions. Despite the significant challenges and risks, banks can provide and benefit from products and services that expedite clients’ transition to a zero-carbon, climate-resilient economy.

With the gradual impact of extreme weather events on the PRC and the country’s transition to a lower-carbon economy, the private sector must pursue two interconnected objectives. The first is improving its capabilities and resilience to mitigate climate risks through better risk management and disclosure. The second is to create innovative financial products and services, focusing on the climate transition of businesses in interconnected industries and sectors. Further, such efforts should support small and medium-sized businesses, which are essential for financial services in several parts of the PRC. They have closer relationships with local markets and micro, small, and medium-sized enterprises than larger corporates. However, they are likely to be more affected by climate change because of the concentration of risks and limited capacity to respond.

The internship is consistent with ADB’s country partnership strategy for the PRC, 2021–2025, which emphasizes reducing climate change vulnerabilities; promoting low-carbon development; and expediting access to finance for private companies. PRCM has strived to work with local partners on climate-related risk management, scenario analysis, stress testing, information disclosure, and innovation in financial products. This internship will supplement these ongoing efforts by conducting an analysis supporting the promotion of climate readiness of financial intermediaries and corporates and their clients indirectly to achieve significant impacts in the PRC.

The intern will conduct a meta-analysis on policies to promote climate readiness for financial intermediaries and corporates. The analysis will synthesize international evidence and draw lessons for the PRC, focusing on:

· Where have climate-related risk management approaches and implementation guidelines for financial intermediaries and corporates in the PRC been successfully provided?

· What innovative sustainable and transition finance solutions for financial intermediaries and corporates banks have been effectively proposed?

· How can knowledge and skills on climate transition readiness of financial intermediaries and corporates be significantly enhanced?

3. Period of Assignment

Duration: 8 weeks

Timing: June – July 2024

4. Location

PRC Resident Mission

5. Expected Outcomes

At the end of this internship, the candidate should produce a policy brief underlined by the analysis, identifying research questions and effect size; research Literature searching, compilation, and coding; meta-analysis modeling issues, and provide the takeaway policy implications.

Qualifications

6. Education Requirements

Master’s degree or Ph.D. candidates in Economics, Finance, Public Policy, Management Studies, Environmental Studies, Political Sciences, or related fields are welcome to apply. Candidate must be currently enrolled.

7. Relevant Experience

Competency in empirical research tools and methodologies; fluent communication (speaking, writing) in English

8. Other Requirements

Upload the following documents in the “Attachments” section of your application:

· Curriculum vitae (CV)

· Proof of enrollment to a Masters or PhD program. Inclusive dates should confirm that you will be enrolled during the intended period of assignment.