Impact Investing Series – 10 Ways Schools are Bringing Impact Investing to Campus

Tsinghua University Net Impact event on Impact Investing

This month PRiMEtime is focusing in on the important and increasingly popular topic of impact investing. So far we have looked at what impact investing is and summed up a range of resources on the topic and have looked in depth at the Social Finance Academy, a new programme coming from Smith School of Business at Queen’s University in Canada.

There are a number of ways that business schools are bringing impact investing to campus. Here we look at ten ways that business schools are specifically engaging students in impact investing on campus.

1. Events that bring impact investing actors onto campus to discuss the state of the industry: The University of St. Gallen in Switzerland organises an Impact Investing and Social Finance Conference. For its first three years the event was held in Sao Paulo and focused on Latin America, but has since moved to the St. Gallen campus in Switzerland. The event brings together impact investing practitioners to meet and discuss with students. The business school also offers students the course Impact Investing 2.0: Building the Impact Economy, a course focused on the fundamental context for impact investing and its requirements, that aims to train students to be able to spot impact investing opportunities.

2. Student engagement through clubs: The Net Impact Club at Tsinghua University in China organised a special session on impact investing for students, inviting experts and practitioners to campus to share their knowledge with students. The University has also recently partnered with UNDP and other leading universities to develop a research agenda around impact investing that will better leverage private investment to finance the Sustainable Development Goals (SDGs). This includes undertaking research to improve the analytical frameworks, evidence, and policy environment that encourage and guide commercial capital flows in support of the SDGs.

3. Funds for students to invest: The Haas Social Impact Fund at Haas School of Business University of California Berkeley is the largest of the student-managed socially-responsible investments funds with more than USD$2.5m of assets under management. Student fund managers are chosen yearly from the business programmes to evaluate investment opportunities by analysing traditional indicators of business quality and valuation metrics along with environmental, social, and governance policies and practices. Students that participate also have the opportunity to receive a certificate in Social Investing upon graduation.

4. Selecting MBA students to be Impact Investing Fellows: SC Johnson College of Business at Cornell University’s Environmental Finance and Impact Investing Fellows Programme aims to train students for emerging opportunities at the intersection of sustainability and finance, including project finance that addresses climate change, ecosystem services, and poverty alleviation. Through a series of courses, coupled with applied projects, Fellows learn how to invest in, manage, or regulate businesses or projects seeking financial, environmental and social goals.

5. Engaging students in consulting projects with business: Duke Fuqua School of Business’s CASE i3 Fellows are selected second year MBA students who complete coursework in impact investing, support the centre’s research and operations, and complete a consulting project and apprenticeship. The fellows work with a broader set of CASE i3 Associates, often first year students, in teams for their Consulting Programme which pairs students with leading organisations on impact investing projects, including developing impact due diligence guidelines for investors, doing market analysis, and investment landscaping.

6. A selection of elective courses focused on impact investing: Sauder School of Business at the University of British Columbia in Canada offers a course on Impact Investing: Social Finance in the 21st This course provides an introduction to the impact investment sector. It describes the evolution of impact investment, the growth of new asset classes, and the opportunities and challenges faced
by investors seeking meaningful impact investment vehicles. Through a combination of readings, discussions, guest lectures, research, a pitch competition and a portfolio allocation project, students will gain deep insight into the different perspectives brought by the impact investor who is concerned with stimulating social and environmental impact while generating financial return.

7. Providing a regional focus: The Graduate School of Business at the University of Cape Town offers a course on impact investing in Africa aimed at wealth managers, consultants, funders, lawyers and other financial intermediaries looking to gain an understanding of the field. The workshop is (next sentence addresses them) led by a diverse group of leading experts in the field. They have also collaborated with the Skoll Centre for Social Entrepreneurship at the University of Oxford to create twelve teaching case studies on impact investment in Africa.

8. Creating MOOCs on impact investing: ESSEC offers a MOOC (‘Massive Open Online Course’ – a type of free online course) about impact investment available in French. The course explores what impact investing is, which companies are involved and what are they investing in, what kinds of solutions are proposed and the ingredients necessary to create a favourable impact investing ecosystem in the north and the south. The latest offering of the course started on September 25th, 2017.

9. Creating new courses aimed at an executive audience: The Fundamentals on Venture Philanthropy and Impact Investing  at ESADE Business & Law School is a new executive education programme aimed at providing managers with effective tools for a high-engagement approach to social investing and grant making across a range of industries. The course combines online learning materials with two days of face-to-face interaction at ESADE’s campus in Barcelona with leading lecturers and practitioners. The programme is taught jointly with the European Venture Philanthropy Association, a network of 2010 investment firms, banks, business schools and other organisations committed to creating positive societal impact.

10. Pushing Impact Investing forward through Research: The Impact Investing Lab at SDA Bocconi School of Management in Italy focuses on scalable business models that can create economic and social value through innovation in products, services, and processes. The lab acts as a platform and point of reference at a national and international level to support the development of impact investing as a new asset class able to attract public and private capital. It generates research, organises seminars and workshops, and contributes to the spread of a culture and a knowledge of impact investing.

2016 Good Practices in Responsible Management Education (Part 1)

It is once again it’s time for PRiMEtime’s year-end review. 2016 was another exciting year with a lot of innovative new initiatives and approaches at business schools around the world embedding responsible leadership and sustainability into their programmes. PRiMEtime provides an extensive and growing database of examples from schools around the world on how to embed sustainability, ethics and the Sustainable Development Goals (SDGs) into management education as well as tips on how to move forward.

This year, 60 new articles were posted featuring over 143 examples from more than 65 schools in 38 countries. In this 2-part year-end post we review the examples featured this year, organized roughly around the SDGs, and what we have to look forward to next year. (Click on the links to read the full article).

SDG1SDG2SDG3The Hong Kong Polytechnic University has developed an interdisciplinary collaboration between the Business School and the Department of Rehabilitation Sciences, call the Wellness Clinic. It provides preventive care programmes designed, promoted, administered and implemented by students. IEDC-Bled School of Management partnered with members of the UN Global Compact Local Slovenia to organize workshops around the theme of “Health promotion in the workplace as part of the corporate social responsibility and sustainable business development’.

For one week in March, EADA Business School’s campus transforms into a model refugee course where students taking the Managing Humanitarian Emergencies elective learn about the main components required to respond to humanitarian emergencies and extreme situations in general.

 

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La Trobe Business School (Australia), ISAE (Brazil), Audencia Nantes School of Management (France) and Hanken School of Economics (Finland) founded CR3+ Network, a new program that provides a supportive platform to build international collaboration and enables the four schools to work together to build capacity in responsible management education. In the USA, Western Michigan University (USA) partnered with Christ University in Bagalore in India to create an experiential experience to engage students in sustainability discussions in India. Reutlingen University in Germany shared their experiences with the Ethikum Certificate awarded to students who complete a number of special experiences and courses during their time at university. Hult International Business School shared their experiences integrating the SDGs into the core Business and Global Society course. Hult International Business School and Ashridge Business School also shared their experiences integrating the Sustainable Development Goals into their PRME Sharing Information on Progress Report. The University of St. Gallen and oikos work together to offer the PhD Fellowship Programme, a unique opportunity to support international PhD students writing their thesis on sustainability in economics or management.

PRiMEtime also explored a range of MOOCs (Massive Open Online Courses) available on sustainability topics. These courses are free online and open to anyone with an interest in the topic. A series of posts provided an overview of the MOOCs available in the Spring (Part 1 and Part 2) and summer (Part 1 and Part 2).

 

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The American University of Beirut’s University for Senior Programme aims to redefine the role of older people in society by providing them opportunities to remain intellectually challenged and socially connected through a range of lectures, study groups, educational travel programmes, campus life and intergenerational activities. The American University of Beirut also paired up with Citi to provide crucial support and mentoring for female entrepreneurs in Lebanon and the MENA region with the goal of increasing their numbers significantly. Altis Postgraduate School of Business and Society in Italy introduced us to E4Impact, a special programme aimed at training a new class of African leaders who will be able to create jobs in the sustainability sector in their country.

 

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Ryerson University (Canada) designed a unique interdisciplinary programme that brings together faculty from all of the university’s six department called the Environmental Applied Science and Management (EnSciMan) with a focus on environmental management. In Italy, the University of Bologna’s Launch Pad aims to leverage the know-how of the hundreds of PhDs and post-docs studying at the university to facilitate its transformation into valuable products and services, many focused on social and environmental topics. PRiMEtime also looked at a range of global student networks engaged in sustainability that are active within and across business schools.

 

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Antwerp Management School’s ID@Work research programme aims to support organisations in attracting, developing and retaining employees with an intellectual disability. The Australian Indigenous Mentoring Experience at the University of Wollongong is an educational programme that supports Indigenous students through high school and into university, employment or further education. Also in Australia, Deakin University has been exploring how to encourage and train more Indigenous Australians to become accountants (currently of the more than 180,000 Australian professional accounting body members, only 30 identify as Indigenous). The Northwest Aboriginal Canadians Entrepreneurs Programme at the University of Victoria Gustavson School of Business is a partnership between several organisations including regional and provision government to offer first class entrepreneurial learning to the Indigenous people of Northwest British Columbia with the aim to enhance the self sufficiency and full economic participation of Indigenous people

Sustainability Study Abroad Programme – Haworth College of Business

michiganThe Haworth College of Business is the first college at Western Michigan University to require all students to have a course in sustainability. Through the school’s sustainability faculty learning community, faculty share best practices and pedagogical techniques to faculty who don’t teach sustainability to ensure that all students are learning about these important topics.

The school also offers additional experiential experiences to engage students in these discussions, in particular focus on the Sustainable Development Goals. One example is their Sustainability Study Abroad Programme in partnership with Christ University in Bangalore India. I spoke with Timothy B. Palmer, Professor of Strategic Management and Director Center for Sustainable Business Practices at Western Michigan University about this initiative.

What is the Sustainability Study Abroad Programme?

One of my deepest convictions is that business should be used to make society and communities better. I have therefore designed this study abroad to show students the great potential they have to use their professional skills to solve both business and social challenges. The two-week trip is interdisciplinary. We integrate social work students with business students because both disciplines study sustainability’s social pillar, however they do this from different vantage points. Social work students have keen insights into social challenges while business students understand scalable business models that might be leveraged to address these challenges. Indeed, India’s recent “CSR Mandate” essentially requires cooperation between business and social work professionals. By bringing both groups of students together in India, the trip’s rich context provides opportunities for significant student development.

What are the key features of the programme and how does it work?

The aim of this study abroad is to expose students to opportunities firms have to not only achieve lower costs of business in India, but to improve peoples’ lives while there. India has two very different sides: unbridled growth and prosperity alongside poverty. Our trip exposes students to both these sides. We visit firms such as Dell, Infosys, Toyota, Himalaya Drug Company, and the ITC Gardenia Hotel, Asia’s only LEED platinum hotel. Through these visits we hear about their sustainability initiatives including CSR programs. We also visit NGOs and women’s self-help groups; those organizations providing direct services to many of India’s most marginalized populations.

What impact has the program had on the students? The community?

The study abroad provides students an opportunity to experience the cultural delights of India. Students work with culinary arts students and make a five course meal. They take a yoga class. They tour temples and botanical gardens. However, they also obtain first-hand experiences with struggles faced by India’s poor. While it’s hard to know the long term impacts of these experiences, we collect data one year following the trip. Students report that their experiences in India have had a significant impact on “having conversations with colleagues about business’ role in addressing social issues,” “defending populations that have far less than others,” and “taking on a work responsibility related to a social issue that I might otherwise not have done.” It’s certain that sitting with a women’s self-help group hearing about members’ hopes for their children, or meeting with an NGO working to ensure the safety of children who are vulnerable to trafficking, impacts how students think about both their citizenship responsibilities as well as the responsibilities of leading firms.

What have been some of the challenges? 

The primary challenge with a study abroad of this nature is ensuring you recruit students who are open to the experience. We’re not studying Shakespeare in England. Students are exposed to really tough challenges and it’s not for everyone. However, effective recruiting and doing your best to provide a realistic preview of the trip helps ensure students who are energized by a trip like this and are therefore most likely to get the most out of the unique experience.

Successes?

When recruiting students, I always talk in depth about our visit to a rural Indian village. Organizing a tour of India isn’t terribly difficult. However, getting access to residents of small villages just couldn’t happen without being part of the connections through a study abroad.

I vividly remember one meeting in a cinderblock community center. Twenty of my students were sitting on rugs eating lunch with eight women in the village’s self-help group. The conversation meandered from community investments made by the women to the mechanics of running such a group. However, at one point questioning moved to more personal matters. A student asked, “What are your hopes for your children?” One by one, the women talked about career aspirations for their kids. Several wanted their children to become engineers. Others hoped their kids would become medical doctors. Others, teachers. Sadly, none hoped they’d become a professor! However, I could see the lightbulbs go off in my students’ heads. While we are worlds away, figuratively and literally, parents worldwide have very similar aspirations for the next generation.

What advice would you have for other schools thinking of putting something similar into place?

I personally believe that having a partnership institution in the location of the study abroad is extremely helpful. One option is putting the trip together entirely on your own. However, the partnership I have with Christ University is indispensable. They organize all our site visits, line up transportation, identify restaurants, provide our housing, and organize cultural activities. I give them plenty of input on what has worked from previous trips and what has been less effective. Having them do the legwork frees me up to focus on my students’ learning.

What’s next for the initiative?

The first trip in 2014 integrated business students from Western Michigan University with social service-human development students from Griffith University in Brisbane, Australia. Future trips will cross-list the class at WMU as both a business class and a social work class co-led by faculty from each. Both disciples study CSR but from their own unique perspectives. Bringing students from both disciplines affords an opportunity to leverage learning for our students because they can learn from each other.

 

Sustainable Business Examples from Around the World – Hong Kong, Kenya, and Canada

img_4721As businesses become more and more engaged in sustainability around the world, we are presented with an increasing range of examples of active companies. However, when I speak with students and faculty, they say that they often hear about the same examples from the same international companies over and over again.

In an attempt to share some new best practice examples, I asked a handful of faculty members from around the world about their favourite classroom examples of local companies that are actively involved in sustainability. Here are some examples from Kenya, Hong Kong, and Canada.

Jessica Vaghi, E4Impact Foundation, ALTIS Postgraduate School of Business and Society, Italy (examples from Kenya)

Continental Renewable Energy (Corec) is a Kenyan based company that recycles waste plastic into eco-friendly building material and sell the hardware to developers whose problem is high material cost by providing affordable and durable construction products. It prevented 700 tons of waste from landfills, made 26,000 posts and signed orders over 10.000 roofing tiles by customers across Kenya in 2 years of operations.

Stamp Investment is a Kenyan enterprise that distributes briquettes and multitasking fuel efficient stoves, which enables schools and households to have access to safe drinking water with a reduction of 75 % in water borne diseases. The business won the Grand Challenges Africa “pitching your innovation” competition in 2016 and has been national winner of the most innovative business idea during Enablis Chase bank, ILO business launch pad competition in 2011.

NUCAFE – National Union of Coffee Agribusiness and Farm Enterprises is a sustainable market-driven system of coffee farmer organisations empowered to increase their household incomes through enhanced entrepreneurship and innovation in 19 districts of Uganda. NUCAFE Contributed in influencing the development of a National Coffee Policy and to improve gender relations among coffee farming households and was nominated by AGRA best Africa farmer organisation of 2013 in income diversity category.

Click here for more information about E4Impact Foundation and their work in Kenya.

Pamsy Hui, Hong Kong Polytechnic University Faculty of Business, Hong Kong

It is often a misconception that interesting work in the field of sustainability can only be done by companies with a lot of resources.  In Hong Kong, many small and medium enterprises are doing very interesting things with limited resources.  For instance, Diving Adventure Ltd., a company providing training services and products related to scuba diving, has always put the environment in the forefront of its business decisions.  They regularly collaborate with NGOs, the government, and other organisations on environment protection initiatives (e.g., underwater cleansing activities, reef check).  What is impressive is that for such a small operation, they go far beyond just caring about environmental sustainability.  They are also committed to create employment opportunities to minority groups, released prisoners, and reformed drug users, to help integrate them into the society.  On the service side, they regularly provide training to underprivileged children and individuals with disabilities, providing a sense of inclusiveness for people who are often overlooked, if not discriminated, by the society.

Another example is Baby-Kingdom.com, a parental online forum for parents to share information and experiences related to bringing up children.  In addition to donating to NGOs, they help NGOs advertise on their forum, bringing awareness among their large number of users. They set up the Baby Kingdom Environmental Protection Education Fund in 2008 to support programmes in primary schools to educate school children on concepts such as greenhouse gas reduction and green diet.  Consistent with its family-friendly image, Baby-Kingdom.com started family-friendly practices well before they became a trend in large corporations.  The well-being of children is central to its human resource practices, and the company is often recognised for being a socially responsible employer.

A third example of a company doing interesting things related to sustainability is 4M Industrial Development Limited, a toy design company specialising in educational toys.  In designing their products, 4M consciously favors sustainable materials and supply chains with lower carbon footprints.  In addition, 4M partners with NGOs in multiple ways.  With the Spastics Association of Hong Kong, they adapt part of their manufacturing process to support the disabled.  It also works with different NGOs to promote their causes.  Many of 4M’s products have a green message behind them (e.g., Paper Recycling Kit, Trash Robot Kit).  For each box of the Clean Water Science Kit, for example, 4M donates a portion of its profits to NGOs to fund water-purifying projects in the third world.  Meanwhile, children buying the kit would get a message about the project in the box.

Click here to read about the Interdisciplinary Wellness Clinic at Hong Kong Polytechnic University.

Deborah De Lange, Ryerson University, Canada

Our Horizon is a national not-for-profit organization led by Robert Shirkey that works with governments to require climate change labels on gas pumps. The idea is a low-cost, globally scalable intervention to communicate the hidden costs of fossil fuels to end users and drive change upstream.

ZooShare is a biogas plant led by Daniel Bida that turns animal waste from the Toronto Zoo and food waste from grocery stores into fertilizer and renwable power for the Ontario grid. The process aims to reduce greenhouse gas emissions by 10,000 tonnes of C02 each year. The biogas plant is starting construction now and will be operational in the summer of 2017.

Purpose Capital is an impact advisory firm that mobilises all forms of capital – financial, physical, human and social – to accelerate social progress. Alex Kjorven is the Director of Corporate Development and is a graduate student in the EnSciMan programme at Ryerson.

Click here to learn more about the interdisciplinary EnSciMan programme at Ryerson University.

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When Business and Healthcare Meet: A Look at an Interdisciplinary Business Run By Students from Hong Kong Polytechnic University

13923535_706655699475691_725367246747842977_oThe Hong Kong Polytechnic University (PolyU) Faculty of Business has a mission of IDEAS (Innovation Driven Education and Scholarship).  Underpinning this mission is the responsibility to develop future leaders who can contribute to the society meaningfully and innovatively.  Over the years, their Faculty has gradually stepped up its emphasis on ethics, responsibility, and sustainability in education, research, and service to the community.  A conversation between colleagues in business and the Department of Rehabilitation Sciences at the University resulted in the development of an interdisciplinary venture; the student-run Wellness Clinic.

I spoke with Pamsy Hui from The Hong Kong Polytechnic University about this innovative initiative.

What is the Wellness Clinic?

The Hong Kong PolyU Student-run Wellness Clinic is the first student-run physiotherapy clinic in Hong Kong.  Jointly set up by the Faculty of Business and the Department of Rehabilitation Sciences of the Hong Kong Polytechnic University (PolyU), it promotes and provides preventive care programmes, such as fall prevention programme and lower back pain prevention programme to the community.  These programmes are designed, promoted, administered, and implemented by students, under the supervision of a registered physiotherapist.

How did it come about?

It started out as a university-funded interdisciplinary initiative to encourage entrepreneurship among students in the two PolyU units in 2013.  It was identified early on that preventive health services would be a focus.  The first phase of the initiative was an open competition, in which student teams put forth different business models based on their findings on the preventive healthcare needs in the community.  The winning team was then invited to join the core management team of the clinic, implementing its business model.  The first management team has since passed the responsibility to their successors.  So we have gone through a period of succession planning and transition in the clinic’s short life as well!

What are the key features and how does it work?

The interdisciplinary nature of the clinic is one of its biggest features.  While the physiotherapy students design the actual programmes to introduce to the community, the business students take care of the service operation, marketing and general strategic plan for the clinic.  In order to provide programmes that are high quality and suitable for potential clients, the two groups of students need to maintain constant communication.  In other words, business students would need to communicate to physiotherapy students the market needs, and physiotherapy students would need to communicate to business students whether the needs can be served.  Without such two-way communication, resources would be wasted on programmes irrelevant to the community served.

The second biggest feature is the extent through which students can practice what they learn in the classrooms.  In fact, through the application of their specialised skills, be it physiotherapy or business, students get to see for themselves how their knowledge can be a force for good.

The clinic is intended to be a self-sustaining social enterprise in the long-run.  Therefore, a Care Fund was established.  Normally, clients pay a fee for the service provided.  Part of this income, along with donations, is fed into the Care Fund to subsidise clients who cannot afford the normal price.  Part of the challenge for the students, then, is to figure out how to balance different types of programmes and clients to sustain the clinic.

How does this connect to the SDGs?

The Wellness Clinic deals directly with Goal #3: Good Health and Well-being.  Specifically, through the operation of the Wellness Clinic, students strive to provide services that are available to all, including elderly who cannot otherwise afford to pay for the programmes.  Regardless of the clients and programmes, the aim for the Wellness Clinic is to promote preventive healthcare.  Rising healthcare costs have been a concern the world over, especially in ageing societies.  If people can be educated about the prevention of health issues, the burden on the healthcare system can be lightened.  In a small way, the Wellness Clinic also aims to prevent extreme poverty brought forth by potentially crippling medical expenses among some of the most vulnerable inhabitants in the city (i.e., the elderly).

Challenges?

With its interdisciplinary nature, communication across disciplines would be a challenge.  Business students and rehabilitation science students have different mindsets and different focus areas in the project.  Fortunately, so far, all the students involved have gone into this with a learning mindset.  That helps a lot.  Another major challenge is the sustainability of the project.  Students constantly face the challenge of making the clinic financially viable while providing affordable care for those who need it.  That means they have to keep thinking about new business plans and reaching out to new donors.  Sustainability can also be viewed in terms of the human resources.  Most students complete their programmes in four years.  If they sign onto the project in their second year, realistically they have at most two years on the project before they are busy with the final year workload.  That means new members need to be recruited onto the team every year.  New members bring new ideas and energy, but also pose challenges to continuity.  Students really do learn the challenges of succession planning in this project!

Successes?

As the Wellness Clinic has a constant stream of courses for different target clients, it benefits a good number of people.  For example, among the clients in the fall prevention classes, 68% of them demonstrated significant improvement in the knowledge of fall prevention, 57% of them are more confident about dealing with falls, and 38% of them showed actual physical improvement.  These are encouraging results.  Meanwhile, both sets of students get to practice what they learn in a meaningful way.  They also get to learn about how to work across disciplines, sharpen their communication skills, and strengthen their sense of responsibility.  In addition, through the experience, they get to experience organisational issues, such as succession planning and sustainability.  These are good learning opportunities for the students.  From an education point of view, this serves as a prototype that we can replicate in the future with other disciplines.

What advice do you have for other schools thinking of putting something similar in place?

Interdisciplinary projects like this are very challenging to sustain.  First, there has to be strong commitment from different parties.  Even though this is a student-run project, supervision by the faculties would still be necessary.  Faculty support – be it financial or merely moral support – would also help motivate students.  Second, in a university setting, the need for a good succession plan is even more pressing than in normal organisations.  The turnover is constant and frequent.  Faculty facilitation in this aspect may be necessary.  Third, sustainability will be a challenge.  Before embarking on such projects, it is good to assess the long-term financial viability of the projects, as well as the likelihood that people will be excited about it in the long-run.  Finally, it always helps if the project is consistent with the general philosophy and values of the school.  Such projects take up a lot of energy, and if they are not in line with other things the school is doing, they will be very difficult to maintain.

What’s next for the initiative?

For the Wellness Clinic itself, sustainability is the number one priority.  The goal is not about growth, but about maintaining good quality and affordable preventive physiotherapy programmes for the community.  In order to serve more people in need of the services (but cannot afford them), students will need to find innovative ways to keep the Care Fund healthy.

This project also shows the value of interdisciplinary student projects.  So another next step is to locate new opportunities for business students to work with students from other disciplines (e.g., construction engineering, nursing, design, etc.) on social enterprise projects.

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Business and Business Schools Working Together at the Local Level (Part 2)

Screen Shot 2016-07-19 at 20.50.41Goal 17 of the Sustainable Development Goals (SDGs) focuses on revitalising global partnerships for sustainable development. Two key stakeholders already working on issues relating to the SDGs are PRME and the United Nations Global Compact. Both groups operate as a network of networks, with local offices focusing on rooting both the Principles of PRME and of the Global Compact within different national, regional, cultural and linguistic contexts. Together they can have a significant influence at the local level.

In fact, business schools and companies are increasingly working together to further sustainability goals within different national contexts as well as facilitating outreach learning, policy dialogue and collective action. Partnerships between Global Compact Local Networks and PRME signatories  have been, and increasingly will be, an important tool in moving the sustainable development agenda forward.

For the next couple of weeks we will feature a very small selection of some of the many ways that these two groups can and are working together. In Part I, we looked at how business schools are working with Global Compact offices locally. Here we look at how business schools are promoting and providing training around the Ten Principles of the Global Compact.

Promoting the Global Compact

  • Raising awareness about the Global Compact: The Universidad Del Pacifico in Peru organizes a yearly “Support Week for Global Compact.” During this week, students and teachers from the different faculties present their research and projects related to the Six Principles for Responsible Management Education and the Ten Principles of the Global Compact. Global Compact companies participate in the event as well. In Korea, Kyung Hee University School of Management regularly organises field trips where students have the opportunity to visit companies that are part of the UN Global Compact Network Korea. During these trips they have a chance to see the company’s sustainability work.
  • Engaging students in the Global Compact: Students involved in the undergraduate internship programme at the University of Wollongong Faculty of Business in Australia are required to focus on the Ten Principles of the Global Compact at their workplace as part of their assessment. Internships are arranged with corporate partners who are also part of the Global Compact and have a strong focus on sustainability, such as Westpac and National Australia Bank..
  • Promoting the Global Compact to academic institutions: As an early signatory to the Global Compact, Ivey Business School in Canada is leveraging its extensive publishing case collection by matching up the cases with the Ten Principles of the Global Compact. You can now search for cases related to the different Principles.
  • Integrating the Principles into teaching: Instituto Superior de Educacion Administracion y Desarollo in Spain is taking a lead in a project involving the PRME Chapter Iberian, looking at indicators to implement Six Principles of PRME into business schools, including the Ten Principles of the Global Compact and the 17 Sustainable Development Goals. The University of New England in Australia annually monitors their courses to ensure that they address the social, governance and environmental objectives of the Global Compact.

Training for Global Compact Companies

Business schools are increasingly tapping into opportunities to work with Global Compact Local Networks and companies to provide needed training and raise awareness around the Global Compact Principles and their application. For example:

  • Training around specific issues for UNGC: Several years ago, Copenhagen Business School initiated a Board Programme with the UN Global Compact that aimed to support boards of directors to effectively oversee and help drive their company’s sustainability strategy. This is now part of the UN Global Compact offerings. In the UK, Aston Business School provides human rights training for companies through their Global Compact Local Network.
  • Assisting with the integration of the Global Compact generally: Since 2013, Universidad EAFIT and the Colombian multinational SAGEN have worked together on an initiative called “First Contact Pilot Programme” to promote sustainability under Global Compact parameters amongst ISAGEN suppliers. They also designed a Global Compact programme for Responsible Suppliers, a 10-hour programme focused on the Ten Principles of the Global Compact open to managers from companies in their Local Network. Registered participants received accreditation for participating.
  • Providing specialized diplomas: Externado University Management Faculty offers a diploma in Business and Human Rights, in collaboration with the local network, aimed at deepening participants’ understanding on human rights and their relationship to business. The university also invited small and medium sized companies to take part in their First Steps in CSR programme, also in partnership with the Global Compact Local Network. More than 250 SMEs have participated in this programme.

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Business Examples from Around the World – India, Morocco, Lebanon

waste indiaAs businesses become increasingly engaged in sustainability around the world, we are presented with an growing range of examples of active companies. However, when I speak with students and faculty, they say that they often hear about the same examples from the same international companies over and over again.

In an attempt to share some new best practice examples, I asked a handful of faculty members from around the world about their favourite classroom examples of local companies that are actively involved in sustainability. Here are some examples from India, Morocco and Lebanon:

Dr. Kaushik Ranjan Bandyopadhyay, Associate Professor, TERI University

Attero is India’s largest e-waste management company. It launched, in partnership with the International Finance Corporation (IFC), Clean e-India: the first-of-its-kind innovative initiative for e-waste consumer take-back model in Delhi.

Asun Solar Power Pvt. Ltd. is a company working in the domain of solar and renewable energy solutions in India. Their notable achievement includes the installation of a Hybrid Solar PV System in the Convent of Jesus and Mary School in New Delhi in which solar power and batteries are used as the first and second priority and the grid is used as the third priority optional source of power for low generation days. With this Solar Power Plant installed, the school is off-setting almost 100% of the electricity bills for its entire new building block.

Dr. Ali Elquammah, Co-Director of Academic Affairs & International Relations, HEM Business School

INWI, a Moroccan telecom operator, has partnered with UNICEF for an awareness campaign for the protection of children on the internet. INWI has launched a virtual space of awareness and developed a tool and an application for parental control.

In addition to this action, INWI has also launched a platform, free of charge, called e-madrassa so that students can have access to tutoring sessions and other academic resources.

COSUMAR is a Moroccan group specialized in the extraction, refining and packaging of sugar in various forms. COSUMAR supports farmers on many levels. For example, COSUMAR provides farmers and their families with health insurance and financial support in case of natural disasters.

Dima Jamali, PhD,Professor of Management, American University of Beirut

In the area of waste management and recycling, Recycle Beirut and Cedar Environment are good examples. Cedar environmental has a mission to achieve 100% safe treatment of Municipal Solid Waste with no burning or landfil,focusing on compost technologies.

Bank Audi is Lebanon’s largest bank. They started a My Carbon Footprint project to raise awarness of climate change , the use of resources and their impact on the enviornment among 10-15 year olds. Aramex has a number of projects in CSR, including supporting the funding of a number of initiatives focused on youth empowerment that target marginalized and underpriveleged societies. BLC Bank also promotes a culture of sustainability within its business through its Corporate Environmental Policy, including a new Head Office that is rated by the Lebanese Green Building Council and goals involving energy, water, paper use and waste.

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