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Korea University International Summer Campus 2017 ISC392: Sustainability Strategies - Syllabus ISC392: SUSTAINABILITY STRATEGIES PROFESSOR: Mark Davison BSc (Hons) FCA [email protected] COURSE: Mankind has been warned for decades that global biodiversity is declining at an alarming rate, putting the survival of other species and its very own future at risk. The 2016 edition of The World Wildlife Fund’s (WWF) Report Living Planet describes the enormity of the situation - and proposes how we can start to put it right. The Living Planet Index reveals that global populations of fish, birds, mammals, amphibians and reptiles have declined by 58 per cent between 1970 and 2012 and that we could witness a two-thirds decline in the half-century from 1970 to 2020 – unless Mankind acts now (and develops and implements credible Sustainable Strategies) to properly reform its food and energy systems and meet global commitments on addressing climate change, together protecting biodiversity and supporting Sustainable Development. Earth’s ecosystems have evolved over millions of years. This process has resulted in diverse and complex biological communities living in balance with their environment (including mankind’s interconnection with Nature). In addition to their inherent values, diverse ecosystems also provide the foundation for human livelihoods and well-being. However, the size and scale of the human enterprise have grown exponentially since the mid-20th century and thus, Nature and the exclusive services it provides to humanity are subject to increasing risk. To draw attention to our potentially perilous environmental situation, Nobel Prize winner Paul Crutzen and others have suggested that we have transitioned from the Holocene (the current geological epoch which started some 11,500 years ago, when the glaciers began to retreat) into a new geological epoch, calling it the ‘Anthropocene’. During the Anthropocene, the climate is changing rapidly, oceans are acidifying and entire biomes (a distinct ecological community of plants and animals living together in a particular climate) are disappearing – all at a rate measurable within a single human lifetime! The future of many living organisms is now in question (for example: Cheetahs today number only 7,000 in the wild and recent, continued declines have led to the Cheetah being classified as an endangered species). And not only are wild plants, animals and all species that make up biodiversity at risk: people are increasingly becoming victims of the deteriorating state of nature. Climate and other predictive models suggest that without action during this ‘so called’ Anthropocene period, the Earth will become much less hospitable to our modern globalised society. - 1 of 6 - Korea University International Summer Campus 2017 ISC392: Sustainability Strategies - Syllabus Clearly, the world of work and life is changing and increasingly focussed on firstly repairing and then protecting our fragile earth. Students who understand and grasp the enormity and urgency of these challenges will be well-placed to work for an increasing number of global organisations and governments who are promptly changing their approach to economic development and are developing SustainabilitySmart Strategies that consider their responsibilities both as capitalists and as responsible custodians of our planet’s future. The Sustainability job market for graduates is developing and Sustainability-based opportunities exist with global corporations like oil and gas majors BP and Shell, accounting firms such as PwC (its Sustainability practice provides guidance to client in such areas as certified emissions reductions, biodiversity, footprint and transfer pricing), government departments and their regulatory bodies and agencies such as The World Bank and The United Nations. An interest in and understanding of Sustainability concepts, impacts and the development of appropriate Sustainability Strategies are becoming increasingly important in a managers’ corporate career. This course is a fascinating journey across several inter-connected academic disciplines including economic history, ecology, climate science, politics, business strategy and finance. You will receive a broad introduction to the concept of Sustainability and consider what contribution you can make as an individual to the Sustainability debate and agenda. You will develop the knowhow and awareness required for pursuing a modern, Sustainability-influenced career focused on the understanding of specialist fields like Renewable Energy (wind, solar, hydro, tidal, wave), Sustainability Assurance, Sustainability Strategy development, Sustainability Reporting, Sustainability Advisory and Environmental Impact Assessment of products and services to name a few. By taking this course, you will have significantly more Sustainability awareness than the typical university graduate and you will be able to use your knowhow to stand out at interviews with prospective future employers and at their Assessment Centres. The principal goals of this course are to explore the principal Sustainability-related concepts and themes, identifying the economic actors (Governments, Non-Governmental Organisations (NGOs) and commercial organisations (corporations and companies) that are best-placed to influence and drive change, reviewing and critiquing their current strategies for doing so. You will develop tools and techniques for developing Sustainable Strategies for governments, global corporations, Non-Governmental Organisations and others. The range of themes and topics presented in this course is comprehensive and includes examination of key ethical questions including globalisation, people’s individual lifestyles, Sustainable growth and development of human societies, whilst at the same time addressing threats such as overconsumption and climate change. Important concepts for study are different societal models, varying forms of human and natural ecology, green energy, scarce resource management vs. waste and long-term economic development and maintenance of well-being in its economic, political and cultural dimensions. In addition, the course will address the concept of Sustainability in the context of the demand for social equity and democracy across the tensions between the developed and the under-developed world. - 2 of 6 - Korea University International Summer Campus 2017 ISC392: Sustainability Strategies - Syllabus COURSE MATERIALS: Due to the breadth of the issues that this course covers, there is no single recommended text. A comprehensive Course Reader, prepared specifically for this course, will be available for students to purchase at the (nominal) cost of printing. The Course Reader will be supplemented by additional e-based materials available on Korea University Summer Campus Intranet/Blackboard systems throughout the course. The Course Reader will comprise key extracts from selected reports, papers and texts prepared by Global Corporations that have embraced Sustainability, Non-Governmental Organisations, leading academics and inspirational writers including, but not limited to, the following: Borowy, Iris (2014), Defining Sustainable Development for Our Common Future: A History of the World Commission on Environment and Development (Brundtland Commission), Oxford and New York: Earthscan from Routledge. BP plc (2016), 2016 Annual Report. BP plc (2016), 2016 Strategic Report. BP plc (2016), 2016 Sustainability Report. Brundtland, Dr. Gro Harlem (1987) Our Common Future - Report of the World Commission on Environment and Development, New York: United Nations World Commission on Environment and Development. Chouinard, Y., Ellison, J. and Ridgeway, R. (2011), ‘The Sustainable Economy’, Harvard Business Review 89(10). Crutzen, Paul (Nobel Laureate) and Stoermer Eugene F. (2000), (http://www.igbp.net/): ‘The Anthropocene’, The Global Change Newsletter 41 of the International Geosphere-Biosphere Programme. Ehrenfeld, J. R. (2005), ‘The Roots of Sustainability’, MIT Sloan Management Review, 46(2). Frieden, Jeffry A. (2006), Global Capitalism: Its Fall and Rise in the Twentieth Century, New York: W.W. Norton & Company. Hoffman, A.J. and Woody, J.G. (2008), ‘Create Your Climate Change Strategy’, in Climate Change: What’s Your Business Strategy? Boston, Massachusetts: Harvard Business Press. Hopkins, M. S. (2009), ‘What executives don't get about Sustainability (and further notes on the profit motive)’ in MIT Sloan Management Review, 51(1). Hopwood, A., Unerman, J. and Fries, J. (2010), Accounting for Sustainability: Practical Insights, London: Earthscan. Lash, J. and Wellington, F. (2007), ‘Competitive Advantage on a Warming Planet’, Harvard Business Review, 85(3). Lovelock, J. (2006), The Revenge of Gaia: Why the Earth is Fighting Back and How We Can Still Save Humanity, London: Penguin. Lovelock, J. (2009), In a final warning: The vanishing face of Gaia. London: Penguin. Markevich, A. (2009), The Evolution of Sustainability, MIT Sloan Management Review, 51(1). Nidumolu, R., Prahalad, C. K., and Rangaswami, M. R. (2009), Why Sustainability is now the Key Driver of Innovation, Harvard Business Review, 87(9). Osterhammel, J. (2014), The Transformation of the World: A Global History of the Nineteenth Century, Princeton, New Jersey: Princeton University Press. - 3 of 6 - Korea University International Summer Campus 2017 ISC392: Sustainability Strategies - Syllabus Pacala, S. and Socolow, R. (2004), ‘Stabilization Wedges: Solving the Climate Problem for the next 50 Years with Current Technologies’, Science: American Association for the Advancement of Science, 305 (5686). Porter, M. E. and Reinhardt, F. L. (2007), ‘A Strategic Approach to Climate’, Harvard Business Review, 85(10). Rau, A., Toker, R., and Howard, J. (2010), ‘Can Technology Really Save Us from Climate Change?’, Harvard Business Review, 88(1/2). The United Nations (2009), Millennium Development Goals Report. The United Nations (2014), The United Nations Global Compact Guide to Corporate Sustainability: Shaping a Sustainable Future. Unruh, G. C. (2008), ‘The Biosphere Rules’, Harvard Business Review, 86(2). OUTCOMES: On successful completion of the course, students will be significantly better informed and knowledgeable about this contemporary topic. In particular, you will: (a) (b) (c) (d) (e) (f) (g) (h) (i) Have a better understanding of the inter-connected planet that we live on and share with Nature; Have chronicled the recent respective and convergent strands of development (political, social, technological and economic), identifying and appreciating the inequalities and tensions that exist between North and South, East and West and the huge development tensions and challenges that co-exist; Understand and properly articulate the contemporary concept of Sustainability from several perspectives (personal, corporate, geographical, planetary); Appreciate the limits of the Earth’s finite natural resources and the key Sustainability challenges facing the natural world and mankind; Have identified and chronicled, from a world-stage perspective, the political mechanisms, agreements and protocols that have been driving politically-enabled Sustainability agendas since an international environmental protection treaty called the United Nations Framework Convention on Climate Change (UNFCCC) was negotiated and formally adopted by almost 200 country members at the Earth Summit in Rio de Janeiro in 1992, as enhanced at annual meetings since (Conferences of Parties), and further enabled by the 1997 Kyoto Protocol, the 2010 Cancun Agreements, the 2012 Doha Agreements and the 2015 Paris Agreements; Understand the importance, calculation and interpretation of personal and organisational ‘Carbon Footprints’ and understand the development of Carbon Strategies and Carbon Pricing Mechanisms and Policies developed by Governments and Regulatory Bodies and subsequently implemented by corporations; Develop the necessary analytical and presentational skills to compare, critique and articulate the strengths and weaknesses of political Strategies that will enable Sustainable Global Economic Development amid the changing face of Capitalism; Understand the foundations and drivers of the Corporate Sustainability agenda, both from the perspective of the Corporation itself and then from the perspective of the Corporation’s impact on its external environment (society, biodiversity and the natural world, resource constraints, emissions, waste etc.); Develop skills to examine and assess the effectiveness of Corporate Sustainability reporting, comparing and contrasting the effectiveness of Corporate Sustainability reporting within sectors and between sectors; - 4 of 6 - Korea University International Summer Campus 2017 ISC392: Sustainability Strategies - Syllabus (j) (k) (l) (m) (n) Understand contemporary corporate product development from the perspective of limiting resource use and reducing waste alongside the development of valuable end-of-product-life waste disposal strategies; Develop case-based insights into Corporations who are positioning Sustainability as a core strategic objective within the organisation alongside key financial and commercial objectives; Develop analytical and presentational skills to analyse, critique and articulate the strengths and weaknesses of the Sustainability Strategies developed by key Corporations; Appreciate how key market-based actors such as investors and other providers of finance are influencing the Sustainability agendas and Sustainability Strategies of corporations and governments; and Be introduced to the contemporary thinking of individual developer/contributors to the field of Sustainability. Successful students will also: (a) (b) Develop effective listening, writing, oral and presentation skills; and Have made use of time management and relevant IT skills. ASSESSMENT: Students will be assessed and graded according to the following criteria: (a) Regular attendance and participation in class; (b) Group Presentations to be held at the end of Week 3; and (c) FinaI Exam to be held in Week 6. GRADE AWARDS: Students’ final grades will be based on the following: (a) (b) (c) (d) Attendance Class Participation Group Presentation Final Examination Total 50 points 50 points 100 points 200 points 400 points The award of final overall grades will be based on the standard academic curve, i.e.: 95% or more (score of 380+) = 90 - 95% (score of 360 - 379) = 85 - 89% (score of 340 – 359) = 80 - 84% (score of 320 - 339) = A+ A B+ B Etc. - 5 of 6 - Korea University International Summer Campus 2017 ISC392: Sustainability Strategies - Syllabus INDICATIVE COURSE SCHEDULE: ISC Key Content Week 1 Our inter-connected planet, its resources and the impacts of mankind 1 Capitalist development themes. Capital as a commodity. The Global Capital Markets, Corporate Globalisation and the rise of the Global Corporation 1 The concept of Sustainability and the need for Sustainable Development 2 Political mechanisms that drive Sustainability Strategies including the United Nations Framework Convention on Climate Change (UNFCCC) and associated protocols and agreements (Kyoto, Cancun, Doha, Paris) 2 The Evolution of Corporate Social Responsibility (CSR) and Environmental, Society and Governance (ESG) agendas and associated reporting mechanisms 2 The foundations and effectiveness of Corporate Sustainability Reporting 3 Sustainable Individuals, Countries and Corporations; Carbon Footprints, Carbon Pricing and energy policies 3 The finite limits of natural resources, related corporate strategies and product development 4 Examining, critiquing and developing the Sustainability Strategies of governments and global corporations 4 Assessment - Group Presentations 5 The Global Reporting Initiative and Reporting Sustainability 5 The United Nations Millennium Development Goals, the United Nations Global Compact and other UN-driven, Sustainability-based initiatives 6 The impact of market-based actors on Sustainability, such as that of investors and other providers of finance 6 Assessment - Final Examination - 6 of 6 -