SUSTAINABLE FINANCE - 162016-ENG

insegnamento

ID:

162016-ENG

Dettaglio:

SSD: ECONOMIA DEGLI INTERMEDIARI FINANZIARI Durata: 48 CFU: 6

Sede:

BERGAMO

Url:

Dettaglio Insegnamento:

ACCOUNTING, GOVERNANCE AND SUSTAINABILITY/ACCOUNTING AND GOVERNANCE FOR SUSTAINABILITY Anno: 2

Anno:

2024

Course Catalogue:

https://unibg.coursecatalogue.cineca.it/af/2024?co...

Periodo di attività

Primo Semestre (16/09/2024 - 20/12/2024)

Obiettivi Formativi

KNOWLEDGE AND UNDERSTANDING

At the end of the course student will be able to...

- Understand and explain the foundations of sustainable finance;

- Navigate sustainable finance within a broad framework that considers the investment chain, asset classes;

- Analyse the role of public policy in motivating investment in sustainability, understand how sustainable finance is shaped and the motivations of policymakers internationally;

- Insight into the sustainability challenges facing business and financial systems;

- Understand how sustainability is remodeling financial systems to benefit society and business;

- Explains the potential contribution of sustainable finance to achieving the Sustainable Development Goals and the goals of the Paris Agreement on Climate Change;

APPLYING KNOWLEDGE AND UNDERSTANDING

At the end of the course student will be able to...

- Describes different sustainable finance products, such as bonds and loans, that may be available to provide the capital needed to support the delivery of the Sustainable Development Goals and the goals of the Paris Agreement on Climate Change;

- Apply the key concepts of sustainable finance and critically assess the incentives and actions of firms, investors, and other stakeholders regarding ESG, as well as their outcome;

- Understand and apply tools and frameworks to respond to financial risks posed by sustainability issues;

- Develop the ability to influence organization’s success through implementing sustainable finance Strategies;

- Analyse the challenges, risks and opportunities associated with seeking positive environmental and social impacts through finance and evaluate what kinds of impacts are likely or possible.

Prerequisiti

Knowledge of accounting, financial mathematics and statistics are recommended together with knowledge of corporate finance and investments tools.

Metodi didattici

The course includes both face-to-face lectures, consisting of theoretical lectures and empirical exercises concerning cases analysed by lecturer and students, and possible speeches by field experts.

Together with traditional lectures where students will be constantly encourage to raise questions and new topics for discussion, we make use and reference to financial newspapers, journal, academic papers, Organization website and other relevant tools for financial information.

Verifica Apprendimento

Attending and non attending students have a single written exam which consists of theoretical and numerical questions. The exam may last approximately 120 minute and consists of two parts: 3 open-ended questions (15 points) and multiple choice answer (both theoretical and empirical ones).

The exam aims at assessing the overall preparation of students, both as regards the institutional and fundamental aspects of sustainable finance, and in relation to their applicative and empirical implementation to concrete cases.

Through the written test, students will firstly have to demonstrate their knowledge and familiarity with the topics and the fundamental issues discussed during lectures, with special attention also to the practical exercise part.

Contenuti

The course is divided into various topics related to each other in a sequential way. Each block of topics is in turn organized in some points

CONTENT SUMMARY

PART I

1. Sustainable Finance in Context

We analyze and describe the role that sustainable finance can play in delivering global goals on climate change and development.

1.1 Introduction

1.2 Principles of sustainable finance—financing and investment

2. Fundamentals of Sustainable Finance: Sustainable investing

We focus on explaining the core concepts of sustainable finance and the relevance of sustainability to finance sector decision-makers.

2.1 Environmental, social, and governance outcomes

In details we explain the contested definition of sustainability and evaluate the usefulness of taxonomies in standardising the definition of the concept; we summarise the concept of ‘ESG’ and analyse how it matters to financial decision making and to evaluate the strengths and weaknesses of various reporting standards in facilitating ESG integration in investment decision; we describe the concept of ‘impact investing’ and evaluate what it means to have an impact through finance.

PART II

3. Sustainable Finance: Regulation and Self-regulation

We analyse the role that regulation and industry initiatives (self-regulation) play in shaping sustainable finance. In details we focus how changes in societal norms and growing awareness of sustainability within the investment community is driving sustainable finance growth.

PART III

4. Greening finance

A first recall of the concept of materiality and critically evaluation of the evolution of assessment methods over time and application.

Then, we focus on the concept of

4.1 "Transition finance";

4.2 Investor engagement and activism: we focus on investor engagement and evaluate how different engagement strategies could be effective in greening finance in different sectors, asset classes and geographies.

5. Financing green

We approaches describing some of the products, such as bonds and loans, that may be available to provide the capital needed to support the delivery of the Sustainable Development Goals and the goals of the Paris Agreement on Climate Change.