Postgraduate Course: Integrated Reporting and Responsible Investment (MBA) (CMSE11216)
||College||College of Arts, Humanities and Social Sciences
|Credit level (Normal year taken)||SCQF Level 11 (Postgraduate)
||Availability||Not available to visiting students
|Summary||This course builds on the introductory Accounting and Finance modules and will consider how the concepts of sustainability and the responsibility for improved governance and stewardship of financial, natural and social resources can be integrated into corporate reporting and investment appraisal.
The course will adopt a critical stance and examine both the theoretical underpinning and the practical challenges associated with the new reporting, measurement and appraisal techniques. In the context of integrated reporting, emerging practice will be critically examined through the study of sustainability reports and solutions recommended by organisations such as GRI and Accounting for Sustainability (A4S). In relation to responsible investment, the course will explore how ESG issues can be taken into account and the challenges involved: including or excluding companies, evaluating environmental and social controversies, and defining criteria, whilst also producing an acceptable return for investors. The course will explore the diversity of opinion and approaches available, the responsibilities of investors and the performance of SRI and green approaches.
Overview of the factors leading to the emergence of new metrics for corporate reporting and investment appraisal;
Concept of triple-bottom line;
Nature and components of integrated reporting; views and approaches recommended by agencies (e.g. GRI, A4S);
Responsible investment theory and practice; dynamics of SI policies;
ESG integration; role and challenges of sustainability indices: frameworks and principles in sustainable investment (e.g. UN PRI and EPPF); drivers and indices (e.g. DJSI and FTSE RI).
Evaluating the research evidence on firms with a CSR agenda.
The rise of new capital markets and project finance options: renewable energy, green property and carbon markets.
Critiques of sustainable investment: failures and lessons. Microfinance schemes.
Student Learning Experience
The teaching will be delivered through lectures supported by discussion of applied case studies. Practitioners (investors, fund managers, accountants) will contribute guest sessions and host debates on key issues.
Entry Requirements (not applicable to Visiting Students)
||Other requirements|| None
|Additional Costs|| None
Course Delivery Information
|Not being delivered|
On completion of this course, the student will be able to:
- Critically appraise the implications of sustainability for corporate reporting and investment appraisal.
- Discuss critically theoretical perspectives to the incorporation of ESG issues into corporate reporting and investment.
- Critically evaluate the challenges of defining metrics and approaches to measurement of ESG performance.
- Explain and discuss critically how ESG factors can be incorporated in investment decisions.
|Busco, C, Frigo, M, Riccaboni A and P Quattrone (2013) Integrated Reporting, Springer.|
Louche, C (2011) Dilemmas in Responsible Investment, Greenleaf.
|Graduate Attributes and Skills
||Cognitive and Subject Specific Skills:
Critically assess a corporate sustainability report and a company's approach to ESG performance
Critically evaluate emerging financial tools and instruments.
Critically assess contemporary approaches to the measurement of ESG (e.g. GRI, FTSE4Good ).
Evaluate the evidence on SRI funds and risk and returns in the context of green companies and projects
Apply appropriate theoretical principles to analyse complex financial problems or alternatives.
Apply financial tools and techniques explicitly in a low carbon and ethical context.
Demonstrate skills of critical thinking and data analysis
Analyse and appraise alternatives and make decisions based on evidence.
Demonstrate effective written communication skills, particularly in explaining and justifying choices.
|Keywords||Sustainability ESG Reporting Responsbility Investment
|Course organiser||Dr Tatiana Rodionova
Tel: (0131 6)50 3789
|Course secretary||Mrs Angela Muir
Tel: (0131 6)51 3854