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OEBU 2205A - Sustainability in Finance – How to Create Outperformance

Type d'enseignement : Elective

Semester : Autumn 2018-2019

Number of hours : 12

Language of tuition : English


There are no other prerequisites than the presumption that students are knowledgeable about the basic financial evaluation methods such as Net Present Value and Internal Rate of Return Calculations.

Course Description

Sustainability in Finance is increasingly gaining momentum, with more than USD 3 trillion of assets managed under sustainability considerations, according to the US Sustainability Investment Forum. The course provides participants with knowledge, insights, and experience necessary to be at the cutting edge of investing in a sustainable manner, aiming at outperforming the market. It shares the state-of-art in integrating sustainability into finance and analyses sustainability as a tool for superior financial performance. The aim is to bring participants up to speed about current best practice in terms of sustainable finance and anticipate tomorrow's challenges.


LUCIUS, Hakan (Head of Corporate Responsibility and Civil Society, European Investment Bank)

Pedagogical format

The primary focus of the course will be on presentation of current concepts and an overview of the wide spectrum of varying practices in the financial world. The heart of the course is a framework of concepts and a set of cases and exercises, reflecting current methods of integrating sustainability considerations in finance. The challenges of today as well as possible future developments are elaborated in an inter-active and inclusive approach together will all participants.

Course validation

The course will be graded based on (i) a group presentation [60%] given in class, (ii) a short comprehension test at the end of the course [30%], and (iii) class participation [10%].


4 seminars of three hours each (12 hours).The workload is commensurate with that of a 12 hours elective in this masters program. 2 credits.

Required reading

“Sustainability a CFO can Love”, Harvard Business Review – April 2014

Additional required reading

  • Books, optional
  • "Corporation 2020, Transforming Business for Tomorrow๠s World", P. Sukdev, Islandpress 2012. ISBN 9781610912389
  • "Living Planet Report" 2014, WWF,
  • Articles, optional:
  • "Corporate Sustainability: First Evidence on Materiality", M. Khan, G. Serafeim, A. Yoon, Harvard Business School, March 2015
  • "The Implications of Corporate Social Responsibility for Investors", G. Clark, M. Viehs, University of Oxford, August 2014
  • "Nachhaltigkeit in der Veranlagungspraxis", H. Lucius, Bankarchiv, December 2013