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Finance and Sustainability


Frésard L.

Course director

Yang Q.



Topics will include, among others, market failures and regulations, externalities, the objective of firms, divestment vs. engagement, measurement and hedging of climate risk, measurement of firms’ sustainability actions, the impact of growing ESG investors on asset demand, prices and risk, the financing of a sustainable economy and clean technologies, finance and inequalities.

Requested Material - HBS cases

Readings - Several scientific and press articles and reports.


This course is designed to use concepts and tools of economics to introduce students to important questions and trade-offs related to the role of the financial sector in the transition towards a more sustainable economy.

Teaching mode

In presence

Learning methods

In class with presentations, assignments, case studies, guest speakers.

Examination information

Final written exam (50%), presentations and cases (40%), participation (10%)