Universität Wien

040117 KU Further Topics in Economic Sociology (MA) (2024S)

Sustainable Finance

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work
Moodle

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 50 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

This course will be held by Prof. Natascha van der Zwan.

  • Monday 27.05. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 28.05. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 28.05. 13:15 - 14:45 Hörsaal 15 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 29.05. 13:15 - 14:45 Hörsaal 15 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 10.06. 09:45 - 11:15 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 10.06. 13:15 - 14:45 Hörsaal 15 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 11.06. 09:45 - 11:15 Hörsaal 15 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 11.06. 13:15 - 14:45 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 12.06. 09:45 - 11:15 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 14.06. 09:45 - 11:15 Hörsaal 15 Oskar-Morgenstern-Platz 1 2.Stock

Information

Aims, contents and method of the course

In this course, we review the recently developed social science scholarship on sustainable finance through the triple lens of ideas, institutions and interests. Making financial systems more aligned with social or environmental goals has been a core feature of national and transnational policy agendas on the climate transition. Nevertheless, the uptake of sustainable financial practices by financial organizations has been uneven. This course seeks to better understand existing sustainability gaps within contemporary financial systems from the perspective of economic sociology and political economy. To this end, we explore the various meanings of sustainable finance (ideas) and to what extent sustainable finance challenges the institutional logics of contemporary financial systems (institutions). We will also discuss the role of different groups of actors who drive or inhibit sustainability within contemporary financial systems (interests), including investors, asset managers, civil society organizations and the state. Taken together, we evaluate different answers to the question whether financial systems can be truly sustainable or whether the profit orientation of finance is incompatible with sustainability. All students will have to read the compulsory readings ahead of lessons. Students will present the texts and their own ideas followed by a discussion about open questions.

Assessment and permitted materials

Students will be assessed throughout the entirety of the taught lessons. Ahead of every lesson students will have to answer short questions based on the mandatory readings. Together in small groups students will give a presentation discussing a recent case of a sustainable finance project or practice, in which they apply theoretical insights derived from the readings. Students are expected to actively participate in the course by participating in the discussions following the presentations. Students are required to produce two written assignments. The first assignment asks students to develop a case study that elucidates one or more central arguments proposed by the course readings. The second assignment consists of a written review of a recent publication on a topic relevant to the course. A list of recommended publications will be provided by the instructor. Students may also suggest their own titles, conditional upon the approval of the instructor.

Minimum requirements and assessment criteria

The minimum requirement for receiving a positive grade include the attendance of the course (max. 2 absences), a presentation and positive grades on two written assignments.
Grade criteria:
- A presentation (30%)
- A written assignment based on the compulsory readings and original research (30%)
- A review of a recent publication on sustainable finance (40%)

Examination topics

See reading list below (subject to change).

Reading list

Reading list (subject to change)
Ahlström, H., & Monciardini, D. (2021). The regulatory dynamics of sustainable finance: Paradoxical success and limitations of EU reforms. Journal of Business Ethics, 1-20.
Arjaliès, D. L. (2010). A social movement perspective on finance: How socially responsible investment mattered. Journal of Business Ethics, 92, 57-78.
Baines, J., & Hager, S. B. (2023). From passive owners to planet savers? Asset managers, carbon majors and the limits of sustainable finance. Competition & Change, 27(3-4), 449-471.
Braun, B. (2022). Exit, control, and politics: Structural power and corporate governance under asset manager capitalism. Politics & Society, 50(4), 630-654.
Fichtner, J., Jaspert, R., & Petry, J. (2023). Mind the ESG capital allocation gap: The role of index providers, standard‐setting, and “green” indices for the creation of sustainability impact. Regulation & Governance.
Hiss, S. (2013). The politics of the financialization of sustainability. Competition & Change, 17(3), 234-247.
Leins, S. (2020). ‘Responsible investment’: ESG and the post-crisis ethical order. Economy and Society, 49(1), 71-91.
McDonnell, C., Rempel, A., & Gupta, J. (2022). Climate action or distraction? Exploring investor initiatives and implications for unextractable fossil fuels. Energy Research & Social Science, 92, 102769.
Migliorelli, M. (2021). What do we mean by sustainable finance? Assessing existing frameworks and policy risks. Sustainability, 13(2), 975.
Muñoz, D. R., & Smoleńska, A. (2023). The governance of ESG ratings and benchmarks (infomediaries) as gatekeepers: exit, voice and coercion.
Seabrooke, L., & Stenström, A. (2022). Professional ecologies in European sustainable finance. Governance.

Association in the course directory

Last modified: We 31.07.2024 11:25