KEMI 2270A - Sustainable Finance - How can Finance Contribute to a Just Transition

Following the 2008 financial crisis, finance has widely been seen as an obstacle to a better world. In this course, we will see why finance concerns us all and how the financial system can be mobilized towards achieving social and environmental goals, as well as a more inclusive economy. Finance is the control center of the Economy, which is embedded in Society, itself resting on the Planet. The financial system has focused on maximizing its own returns, ignoring long-term ‘externalities'. This has been justified by economic flawed theories which have supported political decisions, as well as unsustainable business practices, lack of leadership and of long-term vision. As a result, the environment is being damaged at the fastest pace in history, and populism and inequality have risen jointly with economic growth and the rise of financial assets. The Covid, climate and Ukraine crises have highlighted the dysfunctions of our current paradigm, making the need for rewiring finance, and redesigning capitalism, even clearer. Sustainable Finance has a key role in reshaping global markets, business and politics. We all have a role to play in acting for change and leading the Impact Revolution.

Stéphanie Mareva FAILLOUX

Séminaire

English

6 sessions of two hours

No academic prerequisite, but: 1) Curiosity to delve into a subject, Finance, that is often perceived as dry and complex and yet that is essential to understand if one wants to ensure a Just Transition; 2) Open-mindedness to question current beliefs and conventional thinking and envision new paths; 3) Motivation and Courage to embrace sustainability in every aspect and to act for it.

Autumn 2022-2023

Students will receive 3 grades weighted: 1) 40% for short essays (or videos) ; 2) 45% for final paper; 3) 15% for overall participation