98708 - Sustainable Finance

Learning outcomes

The course aims to explore alternative financing models beyond traditional ones and examine the impact of sustainability factors on the capital market.
Upon completing the course, students will be able to: - Understand the core principles of sustainable finance; - Assess the key products, models, and financial schemes within sustainable finance; - Analyze and compare data and experiences in the realm of sustainable finance.

Course contents

• Introduction to the main concepts of Corporate Finance: cash flows, investment criteria, NPV, risk and return, mutual funds
  
  
• Socially Responsible Funds
  
  
• ESG Rating
  
  
• The Governance Factor
  
  
• Various methodologies of socially responsible finance, including:
  - Screening based solely on exclusion criteria
  - "Best in Class" investment selection
  - Integration of ESG factors into financial analysis
  - Engagement
  - Impact investing: Social Impact Bonds, Green Bonds, Crowdfunding

Readings/Bibliography

Study and reading material will be provided during the course and will be available on the platform “virtuale.unibo.it”.

As attending the course is not mandatory, there is no difference between attending students and not attending students.

Teaching methods

The program of the course will be presented in-depth in class. Theoretical lessons will be associated with some specific seminars.

Assessment methods

Valuation is based on a written exam.

The exam is composed of 15 Multiple Choice Questions and 2 open questions. The correct answer to a Multiple Choice Question gives 1 point. There is no penalty for the wrong answer and there is only one correct answer. Each open question has a value of up to 8 points. The exam lasts 60 minutes.

The Sustainable Finance module belongs to the integrated course “Finanza per le Aziende Non Profit” also composed of the module of “Principles and Techniques of Fundraising”. The weight of the vote obtained in each module is 50%.

The final mark is expressed in the thirties and the graduation grid of marks is the following:

- 18-23: sufficient preparation and analytical skills on a limited number of topics covered in the course.

- 24-27: adequate preparation and analytical skills but with some limitations; good operational skills, even if not particularly articulated.

- 28-30: very good knowledge of many topics covered in the course; good operational and critical skills.

- 30L: excellent and exhaustive knowledge of the topics covered in the course; critical analysis and connection skills.

During the exam, students are not allowed to use notes or books.

A list of the most important formulas is provided with the exam text.

The course will be taught during the second semester. The first exam call will be set at the end of March/at the beginning of April and the second in June. The third and the fourth call will be set in September and in February respectively.

Teaching tools

The teaching tools are the projector and the blackboard.

Office hours

See the website of Barbara Petracci