Argomenti dell'insegnamento
In the past decade, there has been a significant increase in attention towards environmental, social, and governance (ESG) issues among managers, investors, regulators, and various stakeholders. This heightened interest is evident in the adoption of ESG-related disclosure mandates worldwide and the expansion of sustainable investing within global capital markets. This course aims to provide students with an in-depth exploration of sustainability reporting considering this growing emphasis on ESG dimensions.
Through this course, students will delve into the fundamental concepts and tools of sustainability accounting and reporting. They will examine the potential advantages for firms that disclose ESG information while also grappling with significant challenges, including the risk of greenwashing.
Furthermore, students will gain insight into the existing and emerging ESG regulations and frameworks governing ESG performance metrics. The focus will be on the EU Corporate Sustainability Reporting Directive (CSRD), as well as concurrent ESG standard-setting initiatives worldwide (e.g. Global Reporting Initiative, IFRS International Sustainability Standard Board and Task-related Task Force on Climate-Related Financial Disclosures).
Through case studies and practical examples, students will learn how ESG factors are incorporated into financial statements and how these disclosures influence investment outcomes. Engaging with these topics will enable students to develop a hands-on understanding of the complexities surrounding ESG reporting and its implications for corporate behavior and different market participants.
Here a detailed list of topics:
• Evolution and current landscape of sustainability/ESG accounting and reporting:
- The role of sustainability/ESG accounting and reporting in sustainable finance: regulatory and market-based drivers
- ESG reporting standards: latest developments in EU (CSRD/ESRS) and main international frameworks (GRI, IFRS, TCFD, TNFD, Integrated Reporting)
- Double Materiality assessment and interoperability across ESG reporting standards: theory and practice
• Carbon management and carbon reporting:
- international greenhouse gas (GHG) measurement protocols across Scope 1, 2 and 3.
- international GHG disclosure best-practices
• Management accounting and control for ESG/sustainability:
- the role of ESG-related incentives in executive compensation
ESG/Sustainability in internal control and corporate governance systems
• Assurance engagement in relation to ESG/sustainability reporting: current auditing standards (ISAE3000) and future developments (ISSA5000)
• Integration of ESG/sustainability information in investment decision-making processes: current developments/challenges in responsible/impact investing and sustainable finance
Modalità di insegnamento
The course integrates in-class explanations of background material with problem-solving sessions and real-world cases. Case analysis, presentations, and interactive discussions serve as the primary teaching methods employed.
Active participation in class activities is expected from students, providing them with opportunities to apply theoretical concepts to real-world business cases.