KEMI 2EN02 - The Drivers for a sustainable capitalism

Capitalism is confronted with big problems : rising inequalities, uncontrolled consequences of climate changes, increasing human pressure on basic resources, ermerging risks such as pandemics, rising populist movements. The yellow vests protests in France have revealed how deeply undermined the social contract is in our liberal democracies. Business as usual is therefore no longer an option if we seek to deliver sustainable, inclusive, and resilient prosperity. Still, capitalism is an extraordinary machinery to create value and allocate scarce resources efficiently. The objective then is to change the rules of the game to make the transition happen. The course aims at providing future generation of business leaders with the appropriate toolkit to find profitable solutions to fix the big problems of people and the planet.
Baptiste PERRISSIN-FABERT
Séminaire
English
6 sessions of 2 hours
/
Autumn 2024-2025
2 ECTS. Home working group on case studies 80% and class participation 20%
Background reading. Lectures. Interactive sessions with public and private sector practitioners.
Friedman M. (1970). The Social Responsibility of Business Is to Increase Its Profits. The New York Times Magazine http://umich.edu/~thecore/doc/Friedman.pdf
A fundamental reshaping of Finance (2019). Larry Fink https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter
Sir R. Cohen, 2020. Impact : Reshaping Capitalism to Drive Real Change.
Serafeim and Cohen (2020) How to measure a company's real impact ? Harvard Business Review https://hbr.org/2020/09/how-to-measure-a-companys-real-impact
EU Action Plan : Financing Sustainable Growth https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52018DC0097&from=EN
Bertrand Badré (2016). Can Finance Save the World. Regaining Power Over Money
https://www.institutmontaigne.org/en/publications/responsible-capitalism-opportunity-europe
Cambourg Report. Ensuring the relevance and reliability of non-financial corporate information : an ambition and a competitive advantage for a Sustainable Europe http://www.anc.gouv.fr/files/live/sites/anc/files/contributed/ANC/4.%20Qui%20sommes-nous/Com
Breaking the Tragedy of the Horizon – climate change and financiall stability (2015), speech by Mark Carney, former governor of the Bank of England
Serafeim and Cohen, Harvard Business School impact-weighted accounts https://www.hbs.edu/impact-weighted-accounts/Pages/default.aspx
The Green Swan Central banking and financial stability in the age of climate change (2020). Patrick BOLTON, Morgan DESPRES, Luiz Awazu PEREIRA DA SILVA, Frédéric SAMAMA, Romain SVARTZMAN
Chaire de comptabilité écologique. https://www.chaire-comptabilite-ecologique.fr/Publications?lang=en
Rapport Notat-Sénart, 2018. L'entreprise, objet d'intérêt collectif. https://minefi.hosting.augure.com/Augure_Minefi/r/ContenuEnLigne/Download?id=FAA5CFBA-6EF5-4FDF-82D8-B46443BDB61B&filename=entreprise_objet_interet_collectif.pdf
Zucman G. (2019). Global Wealth Inequality. Annual review of economics. https://gabriel-zucman.eu/files/Zucman2019.pdf