Students choosing the ESGB concentration are therefore ideally suited for the ever-expanding set of careers in many fields. Please Note Students who are currently concentrating in BEES and graduating in 2023 can follow the existing rules for the program set forth on the BEES Concentration page. A new study, published by FCLTGlobal and ESG-I, analyzes the annual reports of over 3,000 global companies to look for stakeholder-oriented language, and compares the presence of that language with financial, environmental, social, and governance outcomes. Whartons Curriculum Innovation and Review Committee (CIRC) voted to approve the introduction of two official curricular designations to the Schools existing fold of robust and renowned educational opportunities: 1) Environmental, Social and Governance Factors for Business (ESGB), and 2) Diversity, Equity and Inclusion (DEI). And more. ESGB: Environmental, Social and Governance Factors for Business. Climate Center Impact Investing Research Lab Racism. All applicants will receive their admissions decision on September 13, 2023. South and Central America reflects a dynamic POLCON variable since the 1920s, a period of economic growth and increased US governmental involvement after the war. Traditional political risk measurements have been insufficient for several reasons. A new study, published by FCLTGlobal and ESG-I, analyzes the annual reports of over 3,000 global companies to look for stakeholder-oriented language, and compares the presence of that language with financial, environmental, social, and governance outcomes. Poverty. As Deputy Dean Nancy Rothbard puts it: We are proud and delighted that Wharton will be offering these new concentrations and majors, supported by the Schools world-class evidence-based curriculum. Current Wharton students should direct their questions regarding this program to esg-i@wharton.upenn.edu. The event offered an opportunity for limited partners from around the globe to share insights on investment strategies and portfolio management. Establishing Essentials for the New Business Era. In addition to the option of having an ESGB concentration without specialization, ESGB concentrators may choose to earn one of two transcript-level specializationsBusiness, Energy, Environment and Sustainability (BEES) or Social and Governance (SOGO)by completing at least 3.0 credit units (cu) of their required coursework in their focused area as set forth below. We will investigate impact measurement strategies, asking What is feasible and beneficial to monitor and measure, and why? And, we will take a deep dive into two of the complex societal challenges facing the US States today: (1) barriers to college access, completion, and post-college employment; and (2) barriers to employment following incarceration. How Much Green Pressure Do Oil Companies Feel from Financial Markets? For students interested in ESG analytics, we note that while the STAT Department does not have courses that count toward the four required credit units for the concentration, the following courses may be of special interest: At the ESG Initiative, we are committed to creating transformational opportunities for students. A social enterprise/benefit corporation? MGMT 2750/8750: Comparative Capitalism I'm interested in looking at climate hypocrisy risk, basically people saying they're engaging in ESG and are not. New research from FCLTGlobal, CPP Investments Insights Institute, and the ESG Initiative at the Wharton School shows there can be a payoff for employers that back up employee-centric talk with investments in their workforce, but it requires a thoughtful approach that includes effective communication to investors and multiple investment levers. The culminating event of the course is a weeklong Leadership Venture a camping expedition during spring break that will include a combination of cycling, paddling, hiking and discussions about leadership and the environment. Some of the key players responsible for formalizing these existing initiatives at Wharton: Assistant Professor of Business Economics and Public Policy, Vice Dean and Faculty Director, ESG Initiative; The Deloitte & Touche Professor of Management in Honor of Russell E. Palmer, former Managing Partner, Vice Dean of Entrepreneurship; The Simon and Midge Palley Professor of Management, Deputy Dean, The Wharton School; The David Pottruck Professor of Management, Environmental, Social and Governance (ESG) Initiative, Wharton Welcomes Two New Majors and Concentrations: DEI and ESGB, Whartons Curriculum Innovation and Review Committee (CIRC) voted to approve the introduction of two official curricular designations to the Schools existing fold of robust and renowned educational opportunities: 1), . Faculty across Wharton discuss greenwashing, Arctic ice caps, and more during Penn Climate Week. See all ESG Initiative News. In one class, author and Penn IUR scholar Peter Hendee Brown listed some common 'project risks', such as funding risk, approval risk and political risk but also economic cycle risk and failure risk. Accordingly, the three options for students are: Concentrate in Environmental, Social and Governance Factors for Business (ESGB). Partnerships; Impact Investing; Digital Dialogues. PHILADELPHIA, February 10, 2022 With more and more businesses committing to greater sustainability, there is growing demand for talent with environmental, social and governance (ESG) expertise according a recent Financial Times article highlighting the emergence of ESG investments and net zero pledges. In other words, countries are experiencing higher levels of institutional checks and balances and providing safer political environments for investors. Lucinda Duncalfe C85 WG91 is on a mission to disrupt the traditional executive search process, which usually relies on word of mouth within established networks and expensive headhunting. You may be asked to participate in an interview or submit a work sample between September 6, 2023 and September 12, 2023. Using detailed microdata from European football (soccer) clubs during 1990-2020, Wharton Professors Exequiel (Zeke) Hernandez and Britta Glennon investigate the effect of hiring skilled immigrant employees on the performance of organizations. Meanwhile, South Africa and Central Africa showed the most change, with a decrease of 0.2 points (Fig. ESGB will be jointly administered by three departments Legal Studies and Business Ethics (LGST), Management (MGMT) and Business Economics and Public Policy (BEPP). Take at least three credit units (3 cu) from the Social and Governance list and up to one credit unit (1 cu) from the overall list of courses approved for the concentration (whether Environmental or Social and Governance). We will read and discuss rigorous social science research that ensures that we move from hunches to facts, from simplistic and ineffective solutions to systems knowledge. Late applications will not be accepted, nor will supplemental materials sent separately from the formal application. They conclude that both loan and bond markets offer higher costs of debt to brown firms, but the bond markets punishment is higher than the loan markets. Using insight and expertise from four esteemed Wharton faculty, Wharton Onlines Materiality of ESG Specialization is designed to provide learners with the fundamentals and history of ESG investing, and a close examination of the set of investment approaches that are informed by environmental, social, and governance factors. The ESG Initiative at the Wharton School Get Involved The ESG Initiative partners with corporate, non-profit, and public organizations. Curricular partnerships improve the pedagogy of teaching ESG with new cases, data analytic exercises, simulations, and training programs. In recent years, our students have challenged us to do more to prepare them for the new realities of leadership, which involve creating and sustaining diverse, equitable, and inclusive organizations. Stephanie Creary, Associate Professor of Management, We have a read to admit philosophy, which means that in every application we are looking for reasons to admit you and not reasons to deny you. The National Flood Insurance Program (NFIP) is the primary source of flood insurance for households and businesses in the United States. Learn about 5 ways to get involved as a student! Jammehs presidency was marked by the authoritarian oppression of anti-government journalists, the suppression of womens and LGBT rights, and numerous human rights abuses, including the shooting of 14 students and a journalist in 2000. The Wharton ESG Executive Certificate for Strategists equips corporate strategists, consultants, business development leads, and other cross-functional leaders with the practically relevant research and tools to lead ESG strategy integration from project valuation to ESG risk and opportunity assessment, from data adoption best practices to tea. Policy partnerships assess the efficacy of existing policies, practices, and regulations with an eye toward policy innovation. As part of your application, you will be asked to identify your first- and second-choice projects from the available list. And with new tracks being added (think: environmental impact ventures), even more students will be accepted into the program. This month, as the University of Pennsylvanias fall semester unfolded, Wharton again applied this philosophy in acknowledgement of the rising relevance of two burgeoning industry priorities. As we look to the future of the furniture industry, we recognize the importance of the role we play in changing consumer mind-sets around used furniture. Social We are grateful to the sponsors and partners of the centers and initiatives that came together as the foundation for the ESG Initiative and look forward to growing our community of support. And as with other Wharton initiatives, alumni will play a key role in building out this program. Idea #24 Design and Planning for Multi-Use Renewable Energy Infrastructures by Nicholas Pevzner A major challenge of the renewable energy transition is renewable energy's much larger spatial footprint on the landscape compared to fossil fuel energy sources. And how is the nature of capitalism changing today? We will meet with for-profit and nonprofit leaders working to make a difference, drawing lessons from their successes, failures, evolution, and resilience. Since then, the program has worked with participating . The ESG Initiative will bring together several resources, including the Climate Center, the Impact Investing Research Lab, the Political Risk and Identity Lab, and the Zicklin Center for Governance and Business Ethics. The Details Accepted students must commit to participating in the program by September 15, 2023. This course provides insight into these questions as it explores the nature of capitalism around the world, with specific reference to Brazil, Russia, Ukraine, China, Hungary, Nigeria, South Africa, Singapore, Israel, Argentina, and the advanced OECD countries. 1 Total Value Framework, which directly ties environmental, social, and governance impacts to financial value creation. In particular, we wish to highlight a few particular case studies to illustrate specific country-level changes in POLCON scores over the past 5-6 years. The Wharton ESG Executive Certificate for Senior Leaders provides a practical, powerful mix of insights for senior executives to not just meet the new norm but lead the way in ESG innovation for their respective firms. Vice Dean of Whartons ESG Initiative Vit Henisz reminds us that Mobilizing business to address social problems incident to our civilization was the rallying cry of our schools founder Joseph Wharton. In this spirit, the Wharton community celebrates the future students of these concentrations and majors, and looks forward to welcoming them to campus in September 2023. The course begins with six classroom sessions. In the 2020s, the variable has reached stagnation around 0.75 for OECD countries and 0.4 for the worldwide average. Professor Cade Masseys thoughts on using influence in the workplace resonated for me as both a leader and colleague. How do international institutions and interdependencies affect national capitalist institutions? In doing so, this Essay sheds light on the reasons why we can expect banks to be at the center of this contemporary transition. Why are capitalist economies often embedded in other social systems? As a candidate, Duterte promised real and rapid improvements in the quality of life by aggressively addressing crime and corruption. Congress created the NFIP in 1968 in response to devastating floods, increasing federal disaster costs, and a lack of flood coverage in the private market. ReadMore, (Outlet: Bloomberg) In this live special edition of Bloomberg Equality, Scarlet Fu and Romaine Bostick cover stakeholder capitalism and the politicization of ESG with special guest Witold Henisz, Vice Dean of the ESG Initiative at The Wharton School. Outlet: Green Biz Published as All Eyes on ESG in the Fall/Winter 2022 issue ofWharton Magazine. Project description: The objective of Drug Safety Project is (a) to better understand the impact of different factors in identification and reduction of adverse drug effects during a drug's life cycle which extends from drug discovery to post marketing, (b) to research alternatives to the current drug development and approval system which . 2019-2020 Wharton Alumni Magazine. The Environmental, Social and Governance (ESG) Initiative brings together Wharton faculty and students to conduct academically rigorous research, develop new curricular materials, and co-curricular experiences that shape the future of investing, consulting, and strategy on ESG factors. For todays teenage drivers, the reverberations of these price shocks will be felt for years to come. Lastly, Russia remained an authoritarian state until the fall of the USSR, after which its POLCON variable has once again dropped to 0 under the dictatorial rule of Vladimir Putin. The extent of alignment across branches is then taken into account, as alignment increases the feasibility of policy change and reduces the level of political constraints. While we often debate capitalism as a system, the nature of capitalist economies differ from country to country and rarely match up to the ideal. As each Wharton class graduates and goes out into the world, the students become the teachers. Beyond Business is an ongoing conversation that explores the most complex and pressing issues impacting individuals and organizations across the world. Bobby Turner W84 and Lauren Golub Turner W85 have been instrumental in social impact programming, from funding the impact investing training program to recruiting high-profile investors in sustainability for the Turner ESG Speaker Series. A non-profit organization? Environmental, Social and Governance (ESG) Initiative, A Letter from the Vice Dean and Faculty Director of the ESG Initiative, Business Solutions to Climate Change and Loss of Nature, Zicklin Center for Governance & Business Ethics, MBA Major: Business, Energy, Environment and Sustainability, MBA Major: Environmental, Social and Governance Factors for Business, MBA Major: Social and Governance Factors for Business, Undergraduate Concentration: Business, Energy, Environment and Sustainability, Undergraduate Concentration: Environmental, Social and Governance Factors for Business, Turner Environmental, Social and Governance (ESG) Fellows, Lauren and Bobby Turner Executive Speaker Series, Simplifying and Speeding Disaster Recovery, Driving Decarbonization through the Insurance Sector, 2023 Nazarian Social Innovator in Residence, 2022 Lauren & Bobby Turner Executive Speaker Series, 2023 Migration and Organizations Conference, 2022 Migration and Organizations Conference, 2021 Migration and Organizations Conference, 2019 Wharton Conference on Migration, Organizations, and Management, 2018 Wharton Conference on Immigration and Organizations. With interest in ESG exploding around the world, Wharton unveiled its new Environmental, Social, and Governance Initiative in July, with Witold Henisz, Deloitte & Touche Professor of Management, as its vice dean and faculty director. As Stephanie Creary, Assistant Professor in the Management Department, who has taught the Leading Diversity in Organizations course at the MBA and UG level for several years, explains in recent years, our students have challenged us to do more to prepare them for the new realities of leadership, which involve creating and sustaining diverse, equitable, and inclusive organizations. However, only recently have we had sufficient coursework to support students wishes to become more prepared for DEI-focused careers or leaders of DEI-related change in any organizational role.. ReadMore, (Outlet: Kleinman Center for Energy Policy) Wharton Climate Center Faculty Co-Director Arthur van Benthem explores what one oil companys transformation into a wind energy superpower signals for the industry at large. At the ESG Initiative, we are committed to creating transformational opportunities for students. A test of the technology reveals reason to proceed with caution when using artificial intelligence for research. Vice Dean of Entrepreneurship Lori Rosenkopf notes, While the Management department has offered relevant coursework in this area for some time, we were delighted to create this new major for MBA students and new concentration for undergraduate students.Thus, the DEI concentration/major will be administered by the management department, and will explore issues such as equality and discrimination from an organizational content. South and Central Africa showed a notable jump in the POLCON variable in the 1960s, which marked a decade of independence across Africa. Keys also noted that the decisions dont mean the insurers will never write policies or operate in the state again. During this same period, the share of executives, board members, and investment managers who consider ESG issues to be material to their business decisions has doubled. Scoring that coveted coffee table just got easier. Witold Henisz, Vice Dean and Faculty Director of the ESG Initiative at the University of Pennsylvania's Wharton School, points to why this may be. Meanwhile, Barrows election promoted greater democratic governance since 2016. The carbon tax is particularly effective because it raises the cost of carbon pollution, which incentivizes lower carbon emissions, as well as innovation to lower emissions in the longer run. How should businesses evaluate their environmental footprint? And in September, the School announced it will launch an ESG major and concentration. The Environmental, Social and Governance (ESG) Initiative at the Wharton School is excited to welcome our students back for the spring semester. Benjamin Keys, Assistant Professor of Real Estate at the Wharton School chimes in on the nationwide impact. Professor Peter Faders influential book leads to a new way of thinking about tackling leadership challenges. Concentrate in Environmental, Social and Governance Factors for Business (ESGB) with a Specialization in Business, Energy, Environment and Sustainability (BEES). But can the ESG promise of net-zero pledges, improved corporate responsibility, and sustainable strategies also be green for investors and shareholders? A new study co-authored by Christina Zhu, Assistant Professor of Accounting at the Wharton School, shows that retail investors care about firms ESG-related activities, but only to the extent they are financially material for company performance. Attend speaker series and networking events. Meanwhile, Dutertes strong prioritization and hardline stance on the war on drugs lead to the deaths of between 6,000 and 12,000 people and numerous human rights violations, contributing to the destabilization of the country and a significant increase in investment risk. Witold Henisz, vice dean and faculty director of Whartons ESG Initiative, Zicklin Center for Governance and Business Ethics, Environmental, Social, and Governance Initiative, NEW: MBA Major Environmental, Social and Governance Factors for Business, NEW: MBA Major Social and Governance Factors for Business, NEW: Undergraduate Concentration Environmental, Social and Governance Factors for Business, All Student Offerings From the ESG Initiative. And in September, the School announced it will launch an ESG major and concentration. In particular, in the 2021 update at the country level, many states experienced drastic changes in their POLCON scores, both negatively and positively. Leadership, decentralized finance, and collaboration were themes in the first Wharton Global Forum since the pandemic. Given that data availability only began in 1928 in South and Central Africa, data on emerging markets is plotted beginning in 1918.