Cambridge Centre for Social Innovation’s Post

It may have taken 30 years, but business schools in Europe are finally leading the charge to integrate #sustainability into #business education #esg #csrd #sdgs

New ESG Legislation on the Horizon in the UK: A Model for Higher Education? The UK is set to introduce legislation that will regulate ESG ratings providers, marking a significant step toward enhancing transparency and accountability in ESG reporting. As ESG metrics become increasingly central to corporate strategy, this regulatory shift underscores the importance of robust ESG education in preparing future leaders. Universities have a unique opportunity to integrate these emerging standards into their curricula, ensuring that students are equipped to navigate and contribute to this evolving landscape. Could this be the model other sectors, including higher education, need to follow? Explore the full story here: https://lnkd.in/dzApWdPm #SHIFTproject #Erasmusplus #ESG #HigherEducation #ESGRegulations

This is a particularly timely and well-stated article about the lack of seriousness about sustainability in corporate America. US executives are woefully dismissive of the fact that sustainability is a path to lower cost of capital and higher profitability. Under the incoming administration in Washington this problem is likely to get worse. #Profitability #Costofcapital #Sustainability #ESG

Professor Mette Morsing, director of the Smith School of Enterprise and the Environment at the University of Oxford, believes that many institutions still teach outdated economic models and management frameworks that do not align with today’s sustainability challenges. “There is a need for thorough reform of the business school curriculum if it is to remain relevant,” she argues. Students are increasingly demanding more up-to-date knowledge, particularly on climate change and the concept of a “just transition” — a shift to a sustainable economy that is inclusive and fair to all. via Financial Times https://lnkd.in/ediCNJ_f

“European business schools are uniquely positioned to lead in #sustainability education,” argues Julia Binder professor of sustainable innovation and business transformation at IMD pointing to the role of high societal expectations and regulatory frameworks such as the CSRD. #imdimpact David Bach Vanina Farber Omar Toulan Dr. Florian Hoos Goutam Challagalla Rev. Dr. Susan Goldsworthy OLY Frédéric Dalsace

📰 ARTICLE | “How secondary schools and students are embracing the goal of a better future” 🌱 In a recent article, Poets&Quants magazine focuses the growing commitment of business schools to sustainability. This is reflected in the increased integration of climate finance and environmental initiatives into educational programmes, marking a significant shift towards more sustainable and responsible business practices. 🌍 The article highlights ESSEC Business School's commitment to specializations dedicated to social innovation and the ecological transition. ESSEC incorporates sustainability not only into its flagship Master in Management (MiM) program, but also into other courses such as the Bachelor in Sustainability and the Master of Science in Sustainability Transformation. 💡 Phillip Bruner, a climate finance specialist, sees a surge in interest in climate-focused courses. This trend is supported by a Corporate Knights survey revealing that 21% of business schools have adopted missions explicitly focused on social responsibility. In addition, more than two-thirds of prospective students now see sustainability as essential to their university experience. 👇 Find the full article below.

🌍 Should business schools worry about the “Transatlantic divide over ESG” and become less “woke”? My answer is NO, but universities (not just business schools) should embrace being “Woke Positive”, initiating close cooperation with stakeholders to advance meaningful, sustainable change. 💡The term "woke" originally emerged as a colloquialism for being aware of and sensitive to social and political injustices, particularly around racism and inequality. With many longstanding challenges still unresolved and new ones emerging, why not embrace being "Woke Positive" (i.e. aware, proactive) in ESG education and business strategy, including: ✅ Awareness and Responsibility: Understanding the critical role of sustainability and ethics in shaping business and education. 🌱 Future-Oriented Thinking: Equipping students and businesses to tackle climate challenges, social justice, and governance for long-term success. 🌟 Value Creation: Prioritizing stakeholder capitalism to align business goals with societal and environmental progress. 🔍 Competitive Innovation: Leading on regulatory, investor, and consumer demands for transparency and creative sustainability. 📜 According to some timeless wisdom from John Gardner (1968), “wokeness” seems to be at the core of any university DNA, which should stand for: ▶️ things that are forgotten in the heat of battle, ▶️ values that get pushed aside in the rough and tumble of everyday living, ▶️ the goals we ought to be thinking about and never do, ▶️ the facts we don’t like to face, ▶️ the questions we lack the courage to ask. 💚 Interestingly, even leading professional associations like the CFA Institute could be labeled as "woke" due to their integration of ESG concepts, offering a dedicated ESG certificate, and emphasizing adherence to their Code of Ethics (only major points presented): Members of CFA Institute (including CFA charterholders) and candidates for the CFA designation (“Members and Candidates”) must: ✅ Act with integrity, competence, diligence, and respect and in an ethical manner with the public, clients, prospective clients, employers, employees, colleagues in the investment profession, and other participants in the global capital markets. ✅ Use reasonable care and exercise independent professional judgment when conducting investment analysis, making investment recommendations, taking investment actions, and engaging in other professional activities. ✅ Promote the integrity and viability of the global capital markets for the ultimate benefit of society. ✅ Maintain and improve their professional competence and strive to maintain and improve the competence of other investment professionals. 🌐 Believe it or not, even in the age of ESG, we need to speak in the language of finance at the end of the day. Even so, within capital markets, we carry the responsibility to act “… for the ultimate benefit of the society”.

Given recent chatter about corporate sustainability fatigue it's welcome to see that international #MBA students & teachers have sustainability firmly on their agenda. Already 300 candidates from the top 7 business schools in USA & Europe have signed the Climate Legacy Commitment Pledge to integrate climate awareness into corporate operations. Gishan Dissanaike Cambridge Judge Business School says it's students and company #boards working with the school that are urging more teaching and support for #climatechange. Positive social impact is also a priority. Boston Consulting Group (BCG) Wendy Woods confirms 'Climate and sustainability and societal impact are our two fastest-growing practice areas last year'. Collin G. Janich Pete Golding The Wall Street Journal Columbia Business School Harvard Business School University of Oxford HEC Paris Australian Institute of Company Directors #socialenterprise #climateleadership #sustainability The Australian April 13-14 2024 https://lnkd.in/dfNG7XNc

Ivey's Tima Bansal spoke to the Financial Times about how Europe and the U.S. differ in their approaches to teaching ESG at business schools. She says, "American institutions often focus on the business case for ESG," while European schools view it as a broader discipline that also spans business subjects. Specifically, American schools have excelled at quantifying sustainability, while European schools take a more holistic approach. Read the full article: https://lnkd.in/ediCNJ_f #IveyBusiness #ESG #Sustainability #BusinessSchools #Education

🌱 𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗣𝗿𝗶𝗻𝗰𝗶𝗽𝗹𝗲𝘀 𝗼𝗳 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 🌍 One of the most profound insights I gained from this course is the importance of aligning financial decisions with sustainable practices. 𝘚𝘶𝘴𝘵𝘢𝘪𝘯𝘢𝘣𝘭𝘦 𝘧𝘪𝘯𝘢𝘯𝘤𝘦 𝘪𝘴 𝘯𝘰𝘵 𝘫𝘶𝘴𝘵 𝘢𝘣𝘰𝘶𝘵 𝘱𝘳𝘰𝘧𝘪𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺; 𝘪𝘵’𝘴 𝘢𝘣𝘰𝘶𝘵 𝘪𝘯𝘵𝘦𝘨𝘳𝘢𝘵𝘪𝘯𝘨 𝘦𝘯𝘷𝘪𝘳𝘰𝘯𝘮𝘦𝘯𝘵𝘢𝘭, 𝘴𝘰𝘤𝘪𝘢𝘭, 𝘢𝘯𝘥 𝘨𝘰𝘷𝘦𝘳𝘯𝘢𝘯𝘤𝘦 (𝘌𝘚𝘎) 𝘧𝘢𝘤𝘵𝘰𝘳𝘴 𝘪𝘯𝘵𝘰 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘦𝘴. Understanding the principles of sustainable banking and effective engagement strategies has equipped me with the knowledge to advocate for responsible financial practices. As we face pressing global challenges, this alignment between finance and sustainability is not just beneficial-it's necessary. A heartfelt thank you to Erasmus University Rotterdam for this incredible learning opportunity. The insights gained will surely inspire my future endeavors in sustainable finance! 💚 #SustainableFinance #ESG #FinanceForFuture #Sustainability #ErasmusUniversity #GreenInvesting #ValueCreation #FinancialEducation #SustainableInvestments #LongTermThinking #bksmart #positivechangeambassador #SDG