Curriculum content

of Sustainable Financial analysis

Objectives, learning outcome, form of assessment and modules for the programme.
  • Academic content

    Academic content

    The programme has tre units:

    Sustainable business models, materiality and reporting
    This includes topics relatet to the nature and characteristics of more sustainable business models. It furthermore addresses the use of materiality analyses to determine which ESG factors are material for specific companies and industries. It finally addresses the practice of sustainability reporting, and the challenges associated with identification, measurement and information quality in such reports.

    Integrated valuation using ESG metrics
    Financial valuation models which includes externalities such as  resource scarcity, climate change, poverty, or freshwater use.

    Portfolio management reflecting ESG
    How to understand and apply fundamental sustainability concept and criteria, and how to measure and include this in valuation models and use this in a portfolio management context.

  • Goals for the programme

    Goals for the programme

    This module focuses on how to include sustainability specified as Environmental Social and Governance (ESG)-issues into financial analysis of companies and investment portfolios. The analysis also includes a wider analysis of ESG externalities and how companies and investors recognize these.

    The objectives of the course are to give students

    • understanding of and competence in sustainability in general, and its overall relevance for a financial perspective
    • the ability to identify the specific risks and opportunities that arise from an ESG perspective when analysing and solving on finance problems
    • actionable capabilities when addressing ESG-issues whether in a corporate or a portfolio investor role. 

    Active participation in lectures and group work will give students a useful network after completion of the programme. 

  • Assessment

    Assessment

    The group report

    The programme is concluded by the students’ preparing an independent group report which represents 7.5 ECTS. The report may include a company case or a more generic topic within the scope of sustainable finance, addressing one of the specific learning objectives. The choice of topic is to be approved by the course responsible, and the groups will also receive limited supervision when working on the reports. The report should be based on the teaching in the first session, and the students are thus expected to prepare it between the first and second sessions in the programme.

    The students are assessed on their group reports, and how these are presented and defended. The report also contributes to the requirement for an independent assignment as part of the Executive Master in Applied Finance.

  • Learning outcome

    Learning outcome

    After completing the programme, candidates are expected to have achieved the following overall learning outcomes defined in terms of knowledge, skills and general competence:

    Knowledge

    The candidate has in-depth knowledge of:

    • a comprehensive insight in the main sustainability issues and their relevance to financial analysis and decision-making
    • a deep understanding of the principles and main references for reporting and documenting sustainability issues at company, investment and portfolio levels
    • advanced knowledge of sustainability risks and opportunities which are relevant for financial analysis in general, and in particular in a portfolio management context.

    Skills

    The candidate is capable of:

    • to extract and apply the significant and material information about sustainability for financial analysis conveyed from a company or other relevant sources regarding sustainability.to do advanced valuation of companies, instruments and other assets that fully reflect the relevant sustainability risks and opportunities
    • to specify and analyse, as well as apply the principles for implementation, of optimal investment portfolio management reflecting the relevant and material sustainability issues.

    General competence

    The candidate is capable of:

    • communicating at an advanced level with specialists in both academia and practice about complex issues on understanding and recognizing material sustainability topics when conducting financial analysis