Sustainable development has become a key strategic objective in public policy as well as in corporate decision making. This overarching objective has been transferred to the financial markets as sustainable investment strategies. Financial markets and the key players therein are in the course of redirecting their resources. They address more and more investment opportunities which fulfil the main criteria of sustainable investing, in particular with regard to environmental, social and governance aspects, i.e. which fulfil ESG criteria. A better understanding of these processes, the underlying policies as well as the rating criteria applied in this context is decisive for decision makers on either side: the investor and the corporate side.
The objective of this program is just this: to inform participants on the main motives policy agendas along with regulatory frameworks of ESG and the implications for both market sides.
The course aims to shed light on the overarching topics of ESG investing but also inform about the details as well as most likely future developments. In that respect it is the ideal platform for participants to inform themselves about the status-quo of sustainable investments and ESG ratings but also about future potential developments and their spillovers for their organization and its strategies.
MIP Politecnico di Milano is a prestigious business school for talented graduates that aspire to a managerial career, and for companies that aspire to sharpen their business strategies.
Founded in 1979 as part of Politecnico di Milano, the most prestigious technical university of the country, and a leading engine of technological research, MIP is today a non-profit Consortium Limited Company, accredited by AACSB, EQUIS and AMBA. MIP integrates cutting-edge science & technology with know-how derived from the world of business and consultancy, giving our students a unique blend of academic rigor and practical learning.
This program will equip participants with a better understanding of the main drivers of ESG investing as well as their purposes and thereby with a structured and comprehensive insight into the main aspects of ESG investing and sustainable finance. Upon completion of this course, participants will:
- Gain a comprehensive understanding of objectives and key developments in sustainable finance
- Learn more about sustainable finance as a risk management tool for corporates as well as investors
- Understand the main guiding principles of ESG taxonomies and the reporting of ESG scores
Marco Giorgino is Full Professor of Financial Markets & Institutions and Financial Risk Management at Politecnico di Milano (since 2004). Since 1992 he has been teaching, first as Lecturer and then as Professor, “Global Risk Management” “Corporate Finance”, “Corporate & Investment Banking” in the MSc in Management Engineering at Politecnico di Milano. He also holds the position of Coordinator of the Finance stream in the MSc in Management Engineering at Politecnico di Milano and Senior Professor at MIP Graduate School of Business, where he is also Scientific Director of the Banking and Finance area and Chair of Finance in several MBA and Executive MBA, for Italian and international students, referring both to corporations and to institutions.
Prof. Dr. Uwe Walz holds the Chair of Industrial Organization at Goethe University, and is co-Director of the PhD Program in Economics. Uwe Walz received his Ph.D. in economics from the University of Tübingen in 1991 and completed his habilitation at the University of Mannheim in 1995. Prior to joining the faculty of Goethe University in October 2002 he was a Professor of Economics at the University of Bochum (1995-1997) and at the University of Tübingen (1997-2002). Furthermore, he was a visiting research fellow at the London School of Economics and at the University of California at Berkeley. Prof. Walz is Director of the research program “Entrepreneurial Finance” at the Center for Financial Studies (CFS) and research professor at the center for European Economic Research (ZEW). His main current research focuses on private equity, entrepreneurial finance and contract theory as well as on the economics of network industries. Prof. Walz has published widely in international journals, most recently on venture capital topics and organizational design. His work has appeared in journals such as the Journal of Corporate Finance, the Journal of Financial Intermediation, the Journal of International Economics, the European Economic Review, and the Journal of Public Economics.
- Agenda of ESG and introduction to ESG
- Key motives and objectives behind ESG policies and ratings
- Environmental policy agenda in Europe: status quo and future
- Regulatory framework
- Corporate finance and risk management in the face of ESG
- Environmental policies
- Main objectives and instruments – status quo and challenges ahead
- Key players and institutions
- Main risk factors for corporates
- Social policies and international value chains
- Building blocks
- Main driving forces and challenges
- Main risk factors for corporates
- Good corporate governance: objectives and concepts
- Governance structure and codes
- Consequences of corporate governance models across the world
- Best practice models for ESG
- ESG and access to capital – consequences on costs of capital
- ESG Investment strategy
- The market of sustainable finance both for equity and for debt and banks
- How to set up an asset management strategy based upon ESG factors
- ESG factors
- Main variables in the environmental area and how to assess them
- Main variables in the social area and how to assess them
- Main variables in the governance area and how to assess them
- ESG rating
- Different forms of ESG rating
- How to set up a score
- How to use the rating both for investment and for lending decisions
- Green bonds and financial products
- Focus on climate change
- Description of the main green financial products available on the markets
- Non-financial disclosure and reporting
- How to report ESG exposure
- Different forms of reporting
- Final considerations
- Future trends and experiences from the field
A schedule for 2023 will be available soon.
Course materials will be provided in electronic form.
Partially online via Zoom and Campus Westend of Goethe University Frankfurt/Campus MIP
A GBS/MIP certificate of participation is awarded upon completion of the course.
Early Bird: 2.250€
GBS Alumni: 1.875€
Fees are exempt from VAT
*Withdrawal and fee refund
In case the course withdrawal request is received two weeks prior to the start of classes, GBS will retain a withdrawal fee of €50. In case the course withdrawal request is received less than two weeks prior to the start of classes, GBS will retain 50% of the payment made.