Sustainable Management and Finance
HUM-289 / 2 credits
Teacher(s): Danthine Jean-Pierre Marie Ghislain, Zeni Federica
Language: English
Remark: Une seule inscription à un cours SHS+MGT autorisée. En cas d'inscriptions multiples elles seront toutes supprimées sans notification.
Summary
This course provides the foundations of sustainable management and finance : reviewed concepts include market failures and externalities, CSR, green finance, ESG, climate risk pricing. Includes case studies, policy tools, and corporate strategies for sustainability and climate adaptation.
Content
Session 1 Foundations of the Mixed Economic System
* The Invisible Hand and the Welfare Theorems
* Liberalism and Competition
* Planetary Boundaries: A Major Economic Challenge
* Missing Markets and Externalities
* The Tragedy of the Commons
* GDP vs. GrDP
* Alternative Public Levers to Improve System Performance and Associated Challenges
Session 2 The Firm and Sustainable Management
* Shareholder Value Maximization vs. Corporate Social Responsibility (CSR)
* The Benefit Corporation Movement
* Diversity, Equity, and Inclusion (DEI)
* Public-Private Partnerships (PPP) in Regulation
* Environmental Backlash
* Key Reports and Perspectives:
* The Draghi Report
* IMD Competitiveness Report
Session 3 Sustainable Finance & Asset Pricing
* Introduction to Asset Pricing
* Markowitz Portfolio Theory and the CAPM
* Integrating Climate Risks into Asset Pricing Models
* Market Equilibrium and the Cost of Capital Channel
* Divestment Strategies and Sustainability Impacts
Session 4 Sustainable Finance & Corporate Finance
* Introduction to Capital Structure: Debt vs. Equity
* Sustainable Equity Investment:
* Shareholder Activism
* CEO Compensation and ESG Alignment
* ESG Integration in Corporate Strategy
* Sustainable Debt Instruments:
* Green Bonds
* Sustainability-Linked Bonds
* Innovative Financing Frameworks
* Greenwashing: Challenges and Detection
Session 5 Management: Selected Sustainability Topics
* Growth vs. De-growth
* Resource Scarcity and Strategic Responses
* Rising Inequality
* The Circular Economy Objective
* Managing Natural Capital
* Case Studies: Corporate Sustainability Strategies (e.g., Holcim, Nestlé, LO)
* The Emission Trading System
* Externalities in Innovation and Industrial Policy
* Poster Topics and Group Discussions
Session 6 Sustainable Finance: Advanced Topics & Poster Projects
* Carbon Offset Technologies:
* CCUS vs. Nature-Based Solutions (Benefits & Risks)
* Financing Green Innovation
* Climate Adaptation vs. Mitigation
* The Role of Insurance Markets in Sustainability
Keywords
- Sustainability
-
Externalities
-
ESG (Environmental, Social, Governance)
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Climate Risk
-
Green Finance
-
Corporate Responsibility
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Public Policy
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Market Failures
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Circular Economy
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Carbon Pricing
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Innovation
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Capital Allocation
Learning Prerequisites
Required courses
None
Recommended courses
None
Important concepts to start the course
Those reviewed in the Durabilité ENV-101 course, in particular the Political and Economic Levers covered by prof. Aklin
Learning Outcomes
By the end of the course, the student must be able to:
- Assess / Evaluate the nature of the environmental challenge for our economic system
- Critique the sustainability strategies of corporates and SMEs
- Contextualise the policy measures and corporate actions with regards sustainability objectives
Transversal skills
- Communicate effectively, being understood, including across different languages and cultures.
- Evaluate one's own performance in the team, receive and respond appropriately to feedback.
- Design and present a poster.
- Make an oral presentation.
- Use a work methodology appropriate to the task.
- Assess progress against the plan, and adapt the plan as appropriate.
Teaching methods
Ex Cathedra courses with preliminary readings
Q&A's forum and slides on Moodle
Group work for creation and oral presentation of posters
Expected student activities
Intermediary report on poster preparation and poster
Oral presentation of own poster and comments on other groups' posters
Active participation in class
Assessment methods
QCM following the ex-cathedra presentations 30%
Poster project management : 10%
Summary and bibliography: 10%
Poster: 40%
Poster presentation: 10%
Supervision
| Office hours | No |
| Assistants | Yes |
| Forum | Yes |
Resources
Virtual desktop infrastructure (VDI)
No
Bibliography
Available on Moodle
Notes/Handbook
No
Background readings on Moodle
Moodle Link
In the programs
- Semester: Fall
- Number of places: 120
- Exam form: During the semester (winter session)
- Subject examined: Sustainable Management and Finance
- Courses: 2 Hour(s) per week x 14 weeks
- Type: mandatory