One of the key objectives of the MNB's Green Programme is to reinforce the green approach to financial literacy among young people. The central bank is motivated by the growing demand in the labour market for experts with comprehensive green finance skills. To this end, the central bank provides expert input to help partner institutions integrate sustainable finance into their training portfolios. All of these subjects are aligned with the university's existing identity, but overall they all start from an intersection of finance, ecology and environmental economics. The MNB's active partners include the Budapest Metropolitan University (METU), the Budapest University of Technology and Economics (BME), the John von Neumann University (NJE), the University of Szeged (SZTE) and the University of Debrecen (DE).
At the METU, interested parties can now enrol in two specialised training courses, to which MNB experts are actively contributing: Specialised training in financial regulation and supervision, Specialised training in sustainability management.
The cooperation between the MNB and BME foregrounds the financial approach to sustainability through a number of scientific and educational programmes and study competitions. The Spring 2022 edition of the Bank to The Future – Design Sprint academic competition is also based around the theme of green banking. In the academic year 2021/2022, a joint workshop on green finance and accounting was set up with the involvement of the Tibor Liska College.
Starting from the spring semester of the 2020/2021 academic year, two interrelated courses will be available for students at the NJE Faculty of Economics. By completing a foundation course in Sustainable Finance, students will gain a broad knowledge of the correlations between sustainability, economy and finance. Students who have successfully completed the foundation course can continue their studies in the small-group, workshop-focused Sustainable Case Studies course.
The MNB also collaborates with the Research Centre of the Faculty of Economics and Business of the University of Szeged and the Institute of Finance and International Economics in providing training in the economics of sustainability. In the autumn semester of the 2023/2024 academic year, a new English language master’s programme was launched with the participation of MNB experts, entitled Green Finance and ESG reporting.
The University of Debrecen launched a course entitled The Sustainable Economics of the Future in 2021, which is also taught by MNB experts. The aim is to introduce students to the pillars of long-term, sustainable economic growth: financial, social, real economic and environmental sustainability.
At the partner universities, the subjects are taught according to a detailed weekly literature, including the MNB's Green Programme and Monetary Policy Toolkit and the central bank’s textbook New Economics for Sustainability (it’s shortened version is available in English from the link below). The key English-language literature includes:
- Baksay, Gergely – Matolcsy, György – Virág, Barnabás (Eds.): New Sustainable Economics. Global Discussion Paper. Budapest: Magyar Nemzeti Bank https://www.mnb.hu/web/sw/static/file/NEW_SUSTAINABLE_ECONOMICS_-_Global_discussion_paper_2022.pdf
- Schoenmaker, D. & Schramade, W. (2018): Principles of Sustainable Finance, Oxford University Press, SSRN
- Volz, U. et al. (2020): Inclusive Green Finance: From Concept to Practice. Kuala Lumpur and London: Alliance for Financial Inclusion and SOAS, University of London
- Zhou, X., Caldecott, B. L., Harnett, E. & Schumacher, K. (2020): The Effect of Firm-Level ESG Practices on Macroeconomic Performance. University of Oxford Working Paper 20/03. Oxford, United Kingdom: Oxford University
In addition to the academic partners, MNB experts are also involved in teaching banking and finance courses at the Budapest Institute of Banking (BKF Fenntartó Korlátolt Felelősségű Társaság). A key part of its portfolio is the Qualified green finance expert course, which provides an excellent opportunity for professionals with significant work experience and an interest in sustainability to expand their knowledge further.
In March 2022, MNB-EduLab, the MNB's subsidiary supporting digital education, launched Beconomist, a free educational website that presents current economic, financial and business topics in the form of tutorial videos, in an accessible way, with the help of the country's leading economists and experts. Two Green Finance tutorial videos are currently available on the platform on ESG investing and Green Finance.