Postgraduate Course: Sustainable Finance and the Law (LAWS11539)
Course Outline
| School | School of Law |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Not available to visiting students |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | This course will focus on the contemporary issues arising from the market and regulatory dynamics of sustainable finance. It is tailored for students who wish to develop a comprehensive and in-depth understanding of the role of sustainable finance in addressing sustainability challenges as well as the role of law in shaping sustainable finance practices. |
| Course description |
The pivotal role of financial markets in addressing sustainability challenges has been increasingly recognised by policymakers, investors and financial institutions.
Sustainable finance is becoming mainstream in financial practices, with active industrial initiatives in the innovation of sustainable financial products and the integration of environmental, social and governance (ESG) factors into investment decisions.
Promoting sustainable finance is also at the top of the agendas of legal reforms. The UK and the EU are global pioneers in terms of advancing the legal framework of sustainable finance.
Accordingly, academic debates on sustainable finance also occupy a prominent place in the recent literature, which provide theoretical insights and policy implications for enhancing the role of financial law and corporate law in sustainability.
Against these backgrounds, this proposed course will provide a systematic examination of sustainable finance by engaging with the relevant market practices, legal reforms, regulatory techniques and theoretical debates.
This course will cover a wide range of interrelated topics, which are divided into three parts:
The first part will introduce the fundamental concepts in sustainable finance and explore different theoretical angles in law and finance interpreting the role of sustainable finance in addressing sustainability challenges as well as the role of law in shaping sustainable finance practices.
The second part will examine the market and regulatory mechanisms for sustainable finance developments and the interaction between these two sets of mechanisms.
The third part will examine the incentives of major financial institutions ¿ investment funds, banks and insurers to undertake sustainable finance and the limitations of their role under financial law and corporate law. It will also explore the possible market and legal solutions to these limitations.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Course Delivery Information
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| Academic year 2025/26, Not available to visiting students (SS1)
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Quota: 25 |
| Course Start |
Semester 1 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Seminar/Tutorial Hours 20,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
176 )
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| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
One written essay of up to 5,000 words in length, counting towards 100% of the final mark. |
| Feedback |
Summative assessment: Written feedback on essays will be provided by markers in the Turnitin system, subject to the turnover requirements set by CAHSS.
Formative assessment: It will be a writing sample of up to 1000 words. The question will be released by Week 3, and students will be given 3 to 4 weeks to complete the assessment. Feedback will be available by the end of the course. |
| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Develop a thorough understanding of the practices of sustainable finance, including the main elements, mechanisms and drivers of sustainable finance activities.
- Develop a thorough understanding of the current legal and regulatory frameworks underpinning sustainable finance.
- Develop a systematic and in-depth understanding of the theoretical scholarships in sustainable finance, both in law and related disciplines.
- Undertake a critical and rigorous analysis of the rationale for sustainable finance and its limitations through insights from financial law and corporate law.
- Undertake convincing evaluations of sustainable finance practices and the legal reforms aimed at facilitating and promoting sustainable finance.
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Reading List
Dirk Schoenmaker and Willem Schramade, Principles of Sustainable Finance (OUP 2018)
Danny Busch et.al. (eds), Sustainable Finance in Europe: Corporate Governance, Financial Stability and Financial Markets (Palgrave Macmillan 2021)
Chrysovalantis Gaganis et.al. (eds), Sustainable Finance and ESG: Risk, Management, Regulations, and Implications for Financial Institutions (Palgrave Macmillan 2021)
David Kershaw & Edmund Schuster, ¿The Purposive Transformation of Corporate Law¿ (2021) 69 The American Journal of Comparative Law 478
Iain MacNeil and Irene¿marié Esser, ¿From a Financial to an Entity Model of ESG¿ (2022) 23 European Business Organization Law Review 9
Sebastian Steuer and Tobias H. Tröger, ¿The Role of Disclosure in Green Finance¿ (2022) 8 Journal of Financial Regulation 1
Max M. Schanzenbach & Robert H. Sitkoff, ¿Reconciling Fiduciary Duty and Social Conscience: The Law and Economics of ESG Investing by a Trustee¿ (2020) 72 Stanford Law Review 381
Dorothy S. Lund, ¿Asset Managers as Regulators Asset Managers as Regulators¿ (2022) 171 University of Pennsylvania Law Review 77
Jeffrey N. Gordon, ¿Systematic Stewardship¿ (2023) 47(3) Journal of Corporation Law 627 |
Additional Information
| Graduate Attributes and Skills |
1. Skills and abilities in research and enquiry Critically review, consolidate and extend knowledge and thinking in sustainable finance. Apply critical analysis, evaluation and synthesis to forefront legal issues associated with sustainable finance.
2. Skills and abilities in personal and intellectual autonomy Develop original and creative perspectives to analyse the problems in the practice and law of sustainable finance.
3. Skills and abilities in communication Engage in class discussions to foster theoretically inspired legal analysis and practice-oriented reviews and comments. Present opinions on practical and legal problems by way of oral answers in class or written answers in assessments.
4. Skills and abilities in personal effectiveness Exercise self-motivation and initiative in academic activities, including preparation for seminars and presentations of arguments through written and verbal communications. Develop a problem-solving orientation for combining theories with practice and applying the law to practice.
5. Technical/practical skills Develop skills in reading, critical analysis, legal reasoning, case analysis, written and oral communications, and problem-solving, which are essential for careers in academia, legal practice or industry. |
| Keywords | Sustainable finance,financial markets,corporate governance,financial regulation,investors |
Contacts
| Course organiser | Dr Longjie Lu
Tel: (0131 6)50 2336
Email: Longjie.Lu@ed.ac.uk |
Course secretary | Miss Hannah Ackroyd
Tel: (0131 6)50 2008
Email: hackroyd@ed.ac.uk |
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