FIN09003 2024 Sustainable Finance
Full Title
Sustainable Finance
Transcript Title
Sustainable Finance
Code
FIN09003
Attendance
N/A %
Subject Area
FIN - Finance
Department
MKTS - Marketing, Tourism & Sport
Level
09 - Level 9
Credit
10 - 10 Credits
Duration
Semester
Fee
€
Start Term
2024 - Full Academic Year 2024-25
End Term
9999 - The End of Time
Author(s)
Rosaleen Rooney, Tomas O Flaherty, Maria Scanlon, Valerie McTaggart, Sandra Hallinan, Eva Lavin, Grainne Henry, Bill Hannon, Breda McTaggart
Programme Membership
SG_MCLIA_I09 202400 M-C Programme in (LIA Department L9)
SG_BFINS_S09 202400 Postgraduate Certificate in Financial Management and Sustainability
SG_BFINS_M09 202400 Master of Business in Financial Planning and Sustainability
Description
This module explores sustainability in the context of its significance to the economy, business and the financial sector. Learners will be required to explore and reflect on the Environmental, Social and Governance (ESG) ecosystem and its integration into financial decisions. The module will examine the evolving policy and regulatory environment impacting sustainable finance and consider how businesses deal with these changes in relation to governance, strategy, risk management and reporting metrics.
Learning Outcomes
On completion of this module the learner will/should be able to;
1.
Evaluate the concept of sustainability and its relevance to the economy, business, and the financial sector.
2.
Critique the role of sustainable governance in embedding long-term sustainable organisational values: Sustainable strategy and risk management.
3.
Appraise sustainability policies and regulatory frameworks, in the evolving regulatory landscape, that support sustainable finance.
4.
Critically examine sustainability and Environmental, Social and Governance (ESG) reporting frameworks which companies use to communicate their sustainability actions and messages, along with the sustainability ratings which enable investors to assess the quality of a company’s sustainability performance.
5.
Evaluate how sustainability considerations can be incorporated in a range of management decisions.
6.
Explore and examine the financial instruments available to drive the sustainable transition through Responsible Investment to integrate environmental, social and governance considerations in investment decisions.
Teaching and Learning Strategies
This module will be delivered through a combination of synchronous and asynchronous online lectures, group discussions and tutorials.
Each lecture will commence with a participant-led discussion of sustainability issues reported in the news relevant to the module. The lecturer presents the module notes and illustrates points using publicly available annual and sustainability company reports. Case studies, problem-based learning, guest lecturing, and peer learning will be utilised throughout the semester to explore, build knowledge, critique and challenge learners within this module.
Module Assessment Strategies
Module participants will be expected to successfully complete the following:
1. Engage with a weekly online interactive collaborative blog, exploring and charting their learning and engaging with peers on topics discussed in the previous week's learning.
2. Analyse and apprise companies' sustainability strategies, risk management, reporting.
3. Individual case study analysis and/or written report/essay.
Repeat Assessments
Where a student fails the module overall, they are required to repeat failed assessment components. This may include blogs, analysis and appraisal of companies' sustainability strategies, risk management, reporting, and/or individual case study analysis and/or written assessments.
Indicative Syllabus
LO1: Evaluate the concept of sustainability and its relevance to the economy, business, and the financial sector.
- Define sustainability and why it matters
- Stakeholder groups driving the sustainable finance agenda
- Using the United Nations (UN) Sustainable Development Goals (SDGs) as a framework for analysis and decision-making
- Greenwashing
LO2: Critique the role of sustainable governance in embedding long-term sustainable organisational values: Sustainable strategy and risk management.
- Sustainable governance, strategy and risk management
- Stakeholder engagement
- Materiality assessment
LO3: Appraise sustainability and Environmental, Social and Governance (ESG) reporting frameworks and the evolving regulatory landscape.
- Consider how the UN Sustainable Development Goals (SDGs) have led to the European response through the European Green Deal, EU Sustainable Finance Action Plan, Sustainable Finance Disclosure Regulation (SFDR) and other relevant initiatives.
LO4: Critically examine sustainability and Environmental, Social and Governance (ESG) reporting frameworks that companies use to communicate their sustainability actions and messages, along with the sustainability ratings that enable investors to assess the quality of a company’s sustainability performance.
- EU Taxonomy, EU Corporate Sustainable Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRSs), along with international initiatives through Task Force on Climate-related Financial Disclosures (TCFD), IFRS Sustainability Reporting Standards S1 and S2, Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), Integrated Reporting (IR) and others.
- ESG Rating
LO5: Evaluate how sustainability considerations can be incorporated into a range of decisions, such as
- Investment decisions,
- Sources of finance.
LO6: Explore and examine the financial instruments available to drive the sustainable transition through Responsible Investment to integrate environmental, social and governance considerations in investment decisions.
- Sustainable Financial Systems
- PRI - Principles for Responsible Investments
- Investor screening
This is indicative content that is subject to development and change in response to emerging issues, regulations, and the evolving context.
Coursework & Assessment Breakdown
Coursework & Continuous Assessment
100 %
Coursework Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Online interactive collaborate blog or similar | Coursework Assessment | Assignment | 15 % | OnGoing | 1,2,5 |
| 2 | Assessment of the sustainability governance, strategy, risk management and sustainability reports of one or more companies (in groups) (approx. 2500 words) | Coursework Assessment | Assessment | 50 % | Week 8 | 2,3,4 |
| 3 | Individual case study or written report/essay (approx. 1,500 words) | Coursework Assessment | Assessment | 35 % | End of Semester | 1,5,6 |
Part Time Mode Workload
| Type | Location | Description | Hours | Frequency | Avg Workload |
|---|---|---|---|---|---|
| Lecture | Online | Live Lecture | 2 | Weekly | 2.00 |
| Independent Learning | Not Specified | Independent Learning | 12 | Weekly | 12.00 |
Total Part Time Average Weekly Learner Contact Time 2.00 Hours
Online Learning Mode Workload
| Type | Location | Description | Hours | Frequency | Avg Workload |
|---|---|---|---|---|---|
| Lecture | Online | Live Lecture | 2 | Weekly | 2.00 |
| Independent Learning | Not Specified | Independent Learning | 12 | Weekly | 12.00 |
Total Online Learning Average Weekly Learner Contact Time 2.00 Hours
Required & Recommended Book List
Required Reading
2019 Principles of Sustainable Finance Oxford University Press, USA
ISBN 9780198826606 ISBN-13 0198826605
2019 Principles of Sustainable Finance Oxford University Press, USA
ISBN 9780198826606 ISBN-13 0198826605
Combining theory, empirical data, and policy this book provides a fresh analysis of sustainable finance. It explains the sustainability challenges for corporate investment and shows how finance can steer funding to certain companies and projects without sacrificing return, speeding up the transistion to a sustainable economy.
Required Reading
2023-02-28 Green and Sustainable Finance Chartered Banker
ISBN 1398609242 ISBN-13 9781398609242
2023-02-28 Green and Sustainable Finance Chartered Banker
ISBN 1398609242 ISBN-13 9781398609242
Apply green and sustainable finance principles and best practice in banking, investment and insurance to aid the transition to a low-carbon world and maximize new opportunities.
Required Reading
2020 Sustainable Investing
ISBN 0367367351 ISBN-13 9780367367350
2020 Sustainable Investing
ISBN 0367367351 ISBN-13 9780367367350
"This book tells the story of how the convergence between corporate sustainability and sustainable investing is now becoming a major force driving systemic market changes. The idea and practice of corporate sustainability is no longer a niche movement. It is on the agenda of the boardrooms of leading corporations on all continents. At the same time, investors are increasingly paying attention to sustainability factors in their analysis and decision making thus reinforcing market transformation. In this book, high-level practitioners and academic thought leaders, including contributions from John Ruggie, Fiona Reynolds, Johan Rockstrm, and Paul Polman, explain the forces behind these developments and show how the application of technology and organizational innovation can renew markets from within thus delivering better outcomes for societies. The contributors highlight (a) that systemic market change is influenced by various contextual factors that impact how sustainable investing is perceived and practiced; (b) that the integration of ESG factors in investment decisions is impacting markets on a large scale and hence change practices of major market players (e.g., pension funds); and (c) that technology and the increasing datafication of sustainability act as further accelerators of such change. The book goes beyond standard economic theory approaches to sustainable investing and emphasizes that capitalism founded on more real-world (complex) economics and cooperation can strengthen ESG integration. Aimed at both investment professionals and academics, this book gives the reader access to more practitioner-relevant information and it also discusses implementation issues. The reader will gain insights into how "mainstream" financial actors relate to sustainable investing"--
Required Reading
2021-02-09 Sustainable Finance and Impact Investing Business Expert Press
ISBN 9781637420034 ISBN-13 163742003X
2021-02-09 Sustainable Finance and Impact Investing Business Expert Press
ISBN 9781637420034 ISBN-13 163742003X
This book provides readers with a basic understanding of sustainable finance and impact investing including history, definitions of impact, current trends and drivers, future challenges, and an overview of the key players in the global impact ecosystem. The term impact investing first appeared in 2008. Today the most commonly used definition is investing made with the intention to generate positive, measurable social and environmental impact alongside a financial return. A wide range of individual and institutional investors that have already entered the impact investment marketplace and continued growing enthusiasm can be expected given that feedback from investors indicated that portfolio performance has generally met or exceed their expectations for both social and environmental impact and financial return. Established companies have been compelled to respond to calls by institutional investors to incorporate responsible environmental, social, and governance initiatives into their business models as a condition to continued support in public capital markets. Other companies seeking to demonstrate to impact investors their commitment to environmental and social responsibility have opted for emerging forms of legal entities, so-called social enterprises, which explicitly incorporate sustainability and multi-stakeholder interests into their governance and reporting frameworks. This book provides readers with a basic understanding of sustainable finance and impact investing including history, definitions of impact, current trends and drivers, future challenges, and an overview of the key players in the global impact ecosystem. The book also describes impact investment structures and instruments, social enterprises, and impact measurement and reporting.
Module Resources
Non ISBN Literary Resources
Updated Literary Resources
Journal Resources
Social and Environmental Accountability Journal
Sustainability Accounting, Management and Policy Journal
Specific journal articles will be recommended throughout the module delivery
URL Resources
EU Green Deal: https://eur-lex.europa.eu/resource.html?uri=cellar:b828d165-1c22-11ea-8c1f-01aa75ed71a1.0002.02/DOC_1&format=PDF
EU Taxonomy:
https://finance.ec.europa.eu/sustainable-finance/tools-and-standards/eu-taxonomy-sustainable-activities_en
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020R0852
EU Sustainable Financial Disclosure Regulation: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32019R2088
EU Corporate Reporting Sustainability Directive: https://www.europarl.europa.eu/doceo/document/TA-9-2022-0380_EN.html