Columbia University’s Columbia Climate School announced today the launch of a new masters degree program for climate finance, the first of its kind in the U.S., aimed at training professionals to address the challenges and opportunities of climate change and the global energy transition.

The program will be offered in close collaboration with the Columbia Business School, providing an “interdisciplinary degree” combining financial and scientific knowledge, to “drive impactful solutions to the climate crisis,” according to the school.

The new course comes as demand for sustainability-related skills is increasing globally as companies and countries globally begin to take action on implementing their climate-related commitments, and to meet growing sustainability reporting and regulatory compliance requirements. According to Columbia Climate School, the course is being launched to meet “a growing need in public and private financial institutions, as well as within multilateral organizations and the public sector, to assess risks and opportunities associated with climate change, and to identify pathways to mobilize critical finance.”

Alexis Abramson, Dean of the Columbia Climate School, said:

“The world needs problem-solvers to address the global climate crisis. Everyone at the Climate School is committed to developing solutions, and bringing together fields like climate and finance as a multidisciplinary approach is pivotal, as we need all hands on deck to respond to this urgent global challenge.”

Offered as a one year program, with the first set of students set to enter this Fall, the new degree will combine courses in areas ranging from climate science, adaptation and mitigation strategies, to international climate finance, capital markets, and energy and infrastructure financing.

Costis Maglaras, Dean of Columbia Business School, said:

“Climate change is going to impact every sector and all aspects of our lives. Only by combining ideas from climate science and finance can we address these challenges.”

Lisa Sachs, Director of the Columbia Center on Sustainable Investment, Associate Professor at the Climate School and Director of the new Climate Finance Program, added:

“There is a real demand in business and finance for practitioners who understand climate variability, climate risk, the difference between mitigation and adaptation, and emerging investment opportunities. And there is a global demand for graduates who understand the challenges of climate finance and have the expertise to close the financing gaps.”