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課程名稱 |
ESG投資
ESG Investing |
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開課學期 |
109-2 |
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授課對象 |
管理學院 管理學院企業管理碩士專班(GMBA) |
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授課教師 |
堯里昂 |
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課號 |
GMBA7131 |
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課程識別碼 |
749EM1500 |
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班次 |
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學分 |
2.0 |
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全/半年 |
半年 |
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必/選修 |
選修 |
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上課時間 |
第2,3,4,5,7,8,9,10 週
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上課地點 |
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備註 |
本課程以英語授課。密集課程。上課日期及時間請詳見GMBA官網與路威合授
限GMBA班學位生
總人數上限：50人 |
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Ceiba 課程網頁 |
http://ceiba.ntu.edu.tw/1092GMBA7131_ |
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課程簡介影片 |
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核心能力關聯 |
核心能力與課程規劃關聯圖 |
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課程大綱
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為確保您我的權利,請尊重智慧財產權及不得非法影印
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課程概述 |
The fields of investment have increasingly converged in recent years with environmental and social issues, with considerable effect on investors. The impact has been characterized by an increase in national and international environmental policies targeting climate change, population displacement, cyberattacks, and social issues of inequality.
Driven by a call from the United Nations, international funds and institutions have increasingly answered the calls for ESG (environmental, social, and governance) considerations in their investment decisions. To date, over 200 institutions have signed up and the partaking Asset Managers account for over $45 trillion in investment funds. The appetite for greener and sustainable investments have subsequently grown, with new terms such as green economy, green products, and the circular economy getting more attention.
This intensive course introduces students to some of the key concepts and policies that drive ESG Investing. The teaching approach uses case studies to help students understand the practical implications and impacts of ESG issues on investments. |
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課程目標 |
Upon completing this course, students will have:
1.An understanding of the context and importance of different approaches to Responsible Investment
2.An understanding of the importance of consideration to Environmental, Social, and Governance (ESG) factors
3.An understanding of the underlying issues and ESG, including the importance of sustainability, stewardship, civic engagement, and government policy in investing decisions
4.An understanding of the broader sustainability context and global initiatives, as well as the environmental, social, and governance factors that impact these initiatives
5.An understanding of governance factors, key characteristics, main models, and material Impacts
6.An understanding of the ESG Market: relevance, size scope, key drivers and challenges, risks and opportunities
7.An understanding of ESG analysis, valuation, and integration that may affect industry and company performance and |
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課程要求 |
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預期每週課後學習時數 |
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Office Hours |
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指定閱讀 |
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參考書目 |
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評量方式
(僅供參考) |
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週次 |
日期 |
單元主題 |
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Week 0 |
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Pre-Course Preparation (NO MEETING)
Recommended Viewing:
Hans Rosling, “Factfulness” (2018)
1. https://www.ted.com/speakers/hans_rosling
2. https://www.facebook.com/factfulness.rosling/
3. https://www.youtube.com/watch?v=hw0qTj2tfqM
Recommended Reading:
Viscusi, K. and Zeckhauser, R. “The Perception and Valuation of the Risks of Climate Change: A Rational and Behavioral Blend.” Climate Change (2006) (ATTACHED-->) |
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Week 1 |
03/06 |
Session 1: Introduction
The Concept of ESG
Will Include:
1. An introduction to ESG and the UN's SDGs
2. ESG Market Drivers, Stakeholders & Forums
3. Aims, Objectives, Challenges, and Opportunities for ESG integration
4. National and InternationalGrading Systems
5. How ESG factors may affect industry and company performance
6. Understanding the role of media coverage
Next week's Team Assignment:
The interaction between business, social issues, Government Policy, and the Media during the US Presidency of Donald Trump
The analysis should apply the theories and concepts discussed in class.
The completed project should be a maximum of 5-pages, 12points Times New Roman/Arial, double-spaced.
Before Class:
1. The Rise of ESG Investing - YouTube:
https://www.youtube.com/watch?v=OQ1cliM0b0Q&t=4s&ab_channel=CNBC
2. Matthew Nisbet “Why the Future of Nuclear Energy May Depend on Media Coverage”: https://bigthink.com/age-of-engagement/why-the-future-of-nuclear-energy-may-depend-on-media-coverage
3. 9 charts comparing economy under Trump to Obama, Bush presidential terms (businessinsider.com):
https://www.businessinsider.com/charts-contrasting-trump-economy-obama-bush-administrations-republicans-democrats-2020-10?r=US&IR=T&op=1
4. US 2020 election: The economy under Trump in six charts: - BBC News https://www.bbc.com/news/world-45827430 |
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Week 2 |
03/13 |
Session 2: Environmental Factors
Futures Management
PowerPoint Lecture:
1. Systems Design, Systems of Systems, Cybernetics, Holons
2. Intelligence, Innovation & Integration
3. SDGs, Gapframe, Doughnut Economics etc.
4. Circular Supply Chains
5. Forecasting & Back-casting
6. R.A.G. Strategic Systems Design
Internet Research:
- Tools for Future Studies
- Methods for Grand Challenges
- Projects for Better Futures
Powerpoint:
What IS a ‘Better Future’? |
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Week 3 |
03/20 |
Session 3: Environmental Factors
Climate Change & Environmental Policy
Will Include:
1. Key concepts of climate change: Mitigation, Adaptation, & Resilience
2. Key environmental issues: Natural resources, Pollution, Waste
3. Understanding Energy and Pollution Reporting Standards
4. Technology and Efficiency Reporting
5. Political Economy of Climate Change: COP & Major Accords
In-class Team Case Assignment:
HBS: Andrew Hoffman. 2017. Cargill: The Risky Business of Integrating Climate Change and Corporate Strategy.
https://hbsp.harvard.edu/product/W05C06-PDF-ENG?Ntt=climate+change&itemFindingMethod=Search
Next week's Team Assignment:
The case analysis should apply the theories and concepts discussed in class.
The completed project should be a maximum of 5-pages, 12points Times New Roman/Arial, double-spaced
Before Class:
*Case for in-class engagement is provided before class for preparation.
1. China declares it will be Carbon Neutral by 2060
https://www.nytimes.com/2020/09/23/world/asia/china-climate-change.html
2. Andrea Larson, William Teichman.2009. Corporate Greenhouse Gas Accounting: Carbon Footprint Analysis.
https://hbsp.harvard.edu/product/UV2027-PDF-ENG?Ntt=emergin+markets+climate+change&itemFindingMethod=Search |
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Week 4 |
03/27 |
Session 4: Social Factors
National & International Issues
Key Concepts:
1. Trends influencing social change: Inequality, Employment, Urbanization, Education, Political
Stability & Automation
2. International Trends: Social Impacts of Globalization, Climate change, Political Stability, Terrorism, and Pandemics
3. Political Economy of Social Issues: Incidents, National Policies, Green/Sustainable Markets to address social issues.
In-class Team Case Assignment:
Approaching Social Issues through Government-Business Engagement Post-Covid-19.
Next week's Team Assignment:
The case analysis should apply the theories and concepts discussed in class.
The completed project should be a maximum of 5-pages, 12points Times New Roman/Arial, double-spaced.
Before Class:
*Case for in-class engagement is provided before class for preparation.
1. Institute of Directors Southern Africa.(n.d.). King report on corporate governance in SA
https://www.iodsa.co.za/page/kingIII
2.TWSE. (2020). Taiwan Stock Exchange.
https://cgc.twse.com.tw/frontEN/responsibility
3.The Economic Benefits of Migration Kasperson, R., Jhaveri, N. and Kasperson, J.
https://www.researchgate.net/publication/262829225_THE_BENEFITS_OF_MIGRATION |
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Week 5 |
04/10 |
Session 5: Social Factors
Future Design
Powerpoint Lecture:
CSR & Human-Centered Design
1. Process – People – Planet
2. 5 Whys? Root Problem Analysis
3. Theory of Change, Theory of Action
4. Empathy Method
Internet Research:
Design Thinking
IDEO Circular Design Method
FROG Design Social Design
Social Studies Methodology
Powerpoint:
'A better Life in A Better World' |
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Week 6 |
04/17 |
Session 6: Governance Factors
Positive Change Management
Powerpoint Lecture:
Strategies & Governance
1. Agency
2. Ethics – Ethos - Morals
3. DIKUW
4. Types of Systems
5. Types of Thinkers
6. Types of Leaders
7. Big Picture Thinking
8. Inclusive vs Exclusive Systems
9. Political Unions and Trade Agreements
10. Integration vs Differentiation
Internet Research:
"If I was President: My Country, The World”
Governance & Policymaking for Better Futures
External, Global Factors
Internal, National Factors
Different Political Systems
Different Cultural Spheres
Cynefin Framework
Powerpoint:
'The Future We Want for All' |
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Week 7 |
04/24 |
Session 7: Governance Factors
Privacy and Anti-Trust
Will Include:
1. Characteristics and Models of Effective Corporate Governance
2. Factors Influencing Governance: National differences, Legislation, Cultural interpretation
3. Trending Issues: CRMs and Privacy in the workplace, Data Economy, & Antitrust
In-class Team Assignment:
US Big Data Infrastructure: Facebook, Microsoft, Privacy, Antitrust, the Solar Winds hack and the US Government.
Before class:
*Case for in-class engagement is provided before class for preparation.
1. Yao, D., Yoffie, D. B., Baldwin, E.,Fisher, D., Salisbury, R. 2016. A Brief Note on Global Antitrust.
https://hbsp.harvard.edu/product/716432-PDF-ENG?Ntt=A+Brief+Note+on+Global+Antitrust.+&itemFindingMethod=Search |
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Week 8 |
05/01 |
Session 8: Strategies and Roles
Will Include:
Futures & Stewardship:
1. Agency
2. Ethics – Ethos - Morals
3. DIKUW
4. Types of Systems
5. Types of Thinkers
6. Types of Leaders
7. Shareholder Priority: Company Structure
8. Stakeholder Priority: Creating Communities for Change
9. Intellectual Capital, Intellectual Property, Shareware
10. Human Capital, Human Resources, Sharing Economy
In-class Team Assignment:
1. HBS: Vikram Gandhi, Lynn Schenk Mar. 2018. Morgan Stanley: Building Long-Term Sustainability.
https://hbsp.harvard.edu/product/318103-PDF-ENG?Ntt=Vikram+Gandhi%2C+Lynn+Schenk+Mar.+2018.+Morgan+Stanley%3A+Building+Long-Term+Sustainability&itemFindingMethod=Search
The analysis should apply the theories and concepts discussed in class.
The completed project should be a maximum of 5-pages, 12points Times New Roman/Arial, double-spaced
Before Class:
*Case for in-class engagement is provided before class for preparation.
1. The Investor Revolution. Robert G.Eccles, Svetlana Klimenko. 2019.
https://hbsp.harvard.edu/product/R1903G-PDF-ENG?Ntt=The+Investor+Revolution&itemFindingMethod=Search
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Week 4-1 |
04/03 |
Midterm Study Week
Project1: Midterm Exam (20%)
Sustainable Investment Challenge
Consider an investment opportunity for analysis
Teams should apply the relevant concepts and strategies discussed in class to:
a) understand the origin and sources of the issues involved
b) the position of the government
c) and what the risks and benefits are to investment
d) Teams should then make an investment recommendation
The team paper should be
1. 10-15 pages
2. double-spaced
3. 12 points Times New Roman
4. supported by appendices |
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