Course Contents

Course Contents

Event 1: Introduction to ESG / ESG Data and Scores

Introduction to ESG and sustainable finance – M. Schmid 
Definitions, Market size and developments, Sustainable investment approaches, Demand for ESG, Data issues 

ESG scores – J. Kölbel
ESG data and scores, ESG data providers, Rating divergence

Measuring and evaluating ESG risk and incidents – S. Dias
ESG and business conduct risk, ESG due diligence, ESG risk incident data and metrics, Reputation risk

Event 2: Regulation, Certification, and Measuring Climate Risk

Regulation and reporting – S. Cisar
UN Sustainable Development Goals (UN SDGs), Task Force on Climate-Related Disclosure (TCFD), EU Action Plan on Sustainable Finance (SFDR, Taxonomy, etc.) Glasgow Financial Alliance on Net Zero, Climate Scores

Measuring and managing ESG and climate risk – O. Marchand
Risk Measurement, ESG and climate scores, Climate Value at Risk, Warming Potential

Event 3: Sustainable Investment Strategies and Products 

Sustainable investments: Strategies and certification – E. Carnemolla
ESG strategies, Integration, Exclusion/Screening, Active ownership, ESG and green labels 

How to set up a sustainable investment product – R. Feldman
Sustainable investment products, Sustainable investment funds, Green bonds, Sustainability versus performance, Benchmarking

Event 4: Financial Advisory and Performance Implications 

Sustainable investments in financial advisory – A. Sariyska
Sustainable portfolios and products, Client demand for sustainable products, ESG reporting to clients, Advisory process on ESG 

The performance of sustainable investments – The academic evidence – M. Schmid
Conceptual issues, Market efficiency, Demand shifts, Performance measurement, Empirical research findings 

Event 5: Carbon Pricing, Biodiversity, and Engagement and Voting

Carbon pricing, blue economy, and biodiversity – M. Nerlinger
Social Cost of Carbon, Carbon taxes and offset, Emissions trading, Sustainable Blue Economy Finance Principles, Taskforce on Nature-related Financial Disclosure, Biodiversity 

Engagement and voting – M. Narr
Active ownership, Corporate governance, Proxy voting, Shareholder proposals, Engagement

Event 6: Impact versus Greenwashing

Assessing ESG Impact – M. Reisser
ESG ratings, Double materiality, Impact measurement frameworks, ESG Impact ratings

“Walk the talk” and the real effects of sustainable investments – J. Kölbel
Impact versus greenwashing, Investor preference for impact, Measurement issues, Real effects of regulation, Technology impact, Fund behavior, Engagement and activist investing