Магистратура
2023/2024
Финансирование устойчивого развития
Статус:
Курс по выбору (Финансы)
Направление:
38.04.08. Финансы и кредит
Кто читает:
Департамент финансов
Где читается:
Санкт-Петербургская школа экономики и менеджмента
Когда читается:
1-й курс, 3 модуль
Формат изучения:
без онлайн-курса
Охват аудитории:
для своего кампуса
Преподаватели:
Макарова Ольга Всеволодовна
Прогр. обучения:
Финансы
Язык:
английский
Кредиты:
3
Контактные часы:
32
Course Syllabus
Abstract
Existing economic models were developed in the age of resources abundance, when natural resources were plenty and carbon emissions were limited. As per social and human problems, they were mainly addressed to the state institutions. New age readdresses environmental and social challenges back to business community that need to take responsibility not just for capital increase, but for the long-term business resilience where the value created considered to be a value for society a s a whole, including non-financial stakeholders. Financial theory does not account impact in firm valuation and mainly focuses on cash flows. These models are still widely used, but no longer tenable. Sustainable development is an integrated concept with three aspects in focus: environmental, social and governance. Sustainable finance looks at how finance (investing and lending) interacts with economic, social, and environmental issues. This course is aimed on learning the principles of Sustainable finance based on ESG agenda and their application in taking financial decisions at different levels – from corporate to individual decision-makers. During the course stusents will study practical cases and fulfill real-life assignments.
Learning Objectives
- To understand sustainability challenges in a global economy
- To learn the linkage between finance and sustainability challenge
- To understand how companies and financial institutions can agjust their strategies and business models to a more sustainable business environment and economic policies
Expected Learning Outcomes
- Analyze how finance plays a role in the sustainability transition
- Define integrated reporting
- Distinguish between different ethical theories of companies' purpose
- Explain how companies can create long term value
- Explain how finance can steer the sustainability transition
- Know mechanisms of integration of social and environmental factors
- Recall the most important obstacles in sustainable banking
- Recognize the relationship between sustainability and corporate strategy
- Select the most crucial steps that firms have to take to create positive impact
- Understand the engagement obstacles in bonds
- Understanding the reasons to integrate social and environmental factors in the economic system
Course Contents
- The sustainability challenge
- Dealing with Sustainability and Climate Challenges
- Companies purposes
- Sustainable Business Models
- Sustainable banking & funding
- Steering the transition
Assessment Elements
- In-class activityattendance and activity at lessons, in-class tasks & hometasks completion and presentations, initiating contentive knowledge-based discussions
- Group projectGroup project, field research on practical cases and sustainable development opportunities, interviewing business practitioners, evaluation and financial plan.
- EXAM«Excellent» (8-10) Has a clear argument, which addresses the topic and responds effectively to all aspects of the task. Fully satisfies all the requirements of the task; rare minor errors occur; «Good» (6-7) Responds to most aspects of the topic with a clear, explicit argument. Covers the requirements of the task; may produce occasional errors. «Satisfactory» (4-5) Generally addresses the task; the format may be inappropriate in places; display little evidence of (depending on the assignment): independent thought and critical judgement include a partial superficial coverage of the key issues, lack critical analysis, may make frequent errors. «Fail» (0-2) Fails to demonstrate any appropriate knowledge.
Bibliography
Recommended Core Bibliography
- 9780192561237 - Schoenmaker, Dirk; Schramade, Willem - Principles of Sustainable Finance - 2018 - Oxford University Press - http://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=1968605 - nlebk - 1968605
Recommended Additional Bibliography
- Ataur Belal, & Stuart Cooper. (2018). Sustainability Accounting : Education, Regulation, Reporting and Stakeholders: Vol. First edition. Emerald Publishing Limited.
- Garrido Azevedo, S., & Matias, J. C. O. (2017). Corporate Sustainability : The New Pillar of the Circular Economy. Nova Science Publishers, Inc.
- Lee, J., & Kwon, H.-B. (2019). The synergistic effect of environmental sustainability and corporate reputation on market value added (MVA) in manufacturing firms. International Journal of Production Research, 57(22), 7123–7141. https://doi.org/10.1080/00207543.2019.1578430
- Schönborn, G., Berlin, C. 1981, Pinzone, M., Hanisch, C., Georgoulias, K., & Lanz, M. (2019). Why social sustainability counts: The impact of corporate social sustainability culture on financial success. Sustainable Production and Consumption, 17, 1–10. https://doi.org/10.1016/j.spc.2018.08.008