Sustainable Finance Summer School
At the end of this course, students should be able to:
- Identify value creation (and destruction) across financial, social and ecological capital
- Establish risk and return profiles for all types of capital
- Identify the methods for long-term investing
- Know how fundamental equity valuation brings a deeper understanding of companies
- Make capital structure calculations for all types of capital
Achieving the Sustainable Development Goals is the grand challenge of our time. This course gives insight in ‘how finance can contribute to sustainable development’ and aims to inspire PhD researchers to do research in this field.
The finance transition is about transforming finance from operating on financial value only to working with the concept of integrated value, which combines financial, social and ecological value. The concept of integrated value is approached from an academic angle: how to incorporate social and ecological factors in the cost of capital, the valuation and capital structure of companies?
Students apply the integrated value concept in a group assignment or research proposal.
Assessment is on a Pass/Fail basis. To pass the course, participants must meet the following requirements:
- Attend all sessions
- Actively participate in all sessions
- Prepare essential readings
- Complete at least one group assignment or present an outline of a research proposal
The course builds on a new text book (corporate finance) and recent articles (investment):
Schoenmaker, D. and W. Schramade (2023), Corporate Finance for Long-Term Value, Springer, Berlin, forthcoming. (Chapters will be made available in early June)
Schoenmaker, D. and W. Schramade (2019), ‘Investing for Long-Term Value Creation’, Journal of Sustainable Finance & Investment, 9(4), 356-377.
Zerbib, O. (2022), ‘A Sustainable Capital Asset Pricing Model (S-CAPM): Evidence from Environmental Integration and Sin Stock Exclusion’, Review of Finance, 26(6): 1345-1388.
For the timetable of this course, please click here. The timetable is in the local time of Rotterdam, which is CEST (UTC+02:00).
This course is held fully online.
ERIM PhD candidates (full-time/part-time): Please register on OSIRIS Student using your Student ERNA.
RSM/ESE faculty members with ERIM membership: Please fill in the online registration form.
External (non-ERIM) doctoral students: Please fill in the online registration form by 9 June 2023.
Please note that the number of places for this course is limited. In case the number of registrations exceeds the number of available seats, priority is given to ERIM PhD candidates.
This course is free of charge for ERIM PhD candidates (full-time and part-time) and RSM/ESE faculty members with ERIM membership. For other participants, the course fee is 500 euro.
Please contact us at firstname.lastname@example.org if you have questions.