MSc Sustainable Finance 2022/23 entry

Overview

Semester 1 introduces you to the core areas of Sustainable Finance. You will also cover material on qualitative and quantitative Research Methods, to help you understand the techniques used to evaluate financial problems relating to Sustainable Finance. Semester 2 covers more advanced material on Sustainable Risk Management, and Law, Ethics and Sustainability, in addition to material on Social Responsible Investment and Carbon Accounting, or Islamic Portfolio Management and Islamic Sustainable Finance, depending on your choice of Pathways. Together, both semesters will prepare you for your Dissertation in Semester 3.

Modules

• Semester One Course Module 1

  Module: Corporate Sustainable Finance

  Number of credits: 15

  Description of module: This module provides an in-depth understanding of sustainable finance especially in the areas of sustainable development goals (SDG’s), inclusion, access to finance, social and economic justice, human welfare, impact investing and economic growth. Sustainable finance can provide a model for social responsibility and, sustainable changes in the financial system. In addition, this module provides an in-depth understanding of the social and environmental pressures facing the current financial system and explores how sustainable financial strategies can create long-term value for business and society.

  Compulsory/optional: Compulsory

  Assessment: 3,000-word Individual Assessment (100%)

   

• Semester One Course Module 2

  Module: Research Methods

  Number of credits: 15

  Description of module: This module will enable students to identify and reflect on a range of skills and issues relating to postgraduate learning in business and management research, with specific reference to Sustainable Finance. The module will cover research methods, research design, hypothesis testing, estimation techniques and methods, and the interpretation of statistical results, so that students are familiarised with the standard research approaches when undertaking their dissertation. The aims of this module are twofold: i) to enable students to produce a workable research proposal; and ii) to develop the research skills needed to undertake a research project. The distinctive features for this module are: i) it provides a conceptual understanding of business and management research, especially in the context of Sustainable Finance; ii) it enables students to prepare a research proposal for their dissertation; iii) it allows students to be familiar with the research methods and techniques that will enable them to complete their dissertation.

  Compulsory/optional: Compulsory

  Assesment: 2,000-word Group Report (5 Credits) 

                         2,000-word Individual Report (10 credits) 

   

• Semester One Course Module 3

  Module: Sustainability and Governance

  Number of credits: 15

  Description of module: This module provides an in-depth understanding of the key issues relating to sustainability and governance. It provides a critical understanding of the influences of national and global regulation to achieve sustainable financial outcomes. The module takes a global perspective and incorporates the concept of a shared global economy, where national, global and social values are prioritised over the excesses of particular groups, countries or individuals. The module considers prevailing corporate governance norms and managerial power, and how they impinge on financial markets and society. It reflects the growing awareness in society of the need to creating long-term shareholder value, while balancing conflicting social and economic interests.

  Compulsory/optional: Compulsory

  Assessment: 2-hour Exam (100%)

• Semester One Course Module 4

  Module: Environmental Economics & Finance

  Number of credits: 15

  Description of module: Debates on environmental problems and what to do about them are increasingly taking centre stage in society. Governments are enacting environmental laws and regulations. Businesses are trying to rise to the challenge of not only complying with laws and regulations but are also going ‘beyond compliance’ as part of their purported social agenda. This module aims to explore the uses of economic and financial analysis to investigate the causes, consequences and possible solutions to problems of environmental degradation. The module also focuses on the use of an economic lens to critically investigate the concept of sustainability and its practical implications for businesses and national economies.

  Compulsory/optional: Compulsory

  Assessment: 2-hour Exam (100%)

• Semester Two Course Module 5

  Module: Sustainability and Risk Management

  Number of credits: 15

  Description of module: A firm operating today faces important risks relating to the environment including climate change. The purpose of this module is to provide in-depth understanding of the key risks facing the firm and how these risks are linked to economic activity. Specific consideration will be given to the different types of risks, their measurement, assessment and mitigation, and the role of internal control systems. The role of governance and regulation, and how financial markets facilitate the pricing of certain risks will be considered. The contribution of both theoretical and empirical works in enhancing understanding will be emphasized, as well as risks relating to operations, regulation and reputation, and the effects of climate change.

  Compulsory/optional: Compulsory

  Assessment: 2-hour Exam (100%)

• Semester Two Course Module 6

  Module: Law, Ethics and Sustainability

  Number of credits: 15

  Description of module: Legal rules on ethics and sustainability are important requirements that business enterprises must abide by. At the global, national, and transnational levels, various ethics and sustainability laws have emerged to govern the behaviour of businesses in relation to their customers, their staff, the environment, and other stakeholders. In areas where binding legal standards have not yet developed, so-called ‘soft-law’ standards are emerging that, although not formally binding, increasingly command compliance in the corporate world. This module focuses on the role of law with respect to ethical and sustainability issues. The issues that will be closely investigated include the fight against financial crime, environmental sustainability, and human rights protection. The aim of the module is to help students appraise the various globally recognized legal principles, standards, and frameworks governing ethical and sustainability issues in corporate practice. Students will examine relevant international treaties, UN documents, industry self-governance instruments, and landmark national legislation from different countries with respect to the substantive issues. They will also identify existing legal gaps and challenges in ensuring corporate compliance with ethics and sustainability laws, using case studies.

  Compulsory/optional: Compulsory

  Assessment: 2-hour Exam (100%)

• Semester Two Pathway A

  Either both Pathway A modules, OR both Pathway B modules 

  Pathway A

  Module: Carbon Accounting & Reporting

  Number of credits: 15

  Description of module: This module provides an in-depth understanding of the key issues associated with carbon accounting and reporting. It provides a critical understanding of the how climate change has engaged policy makers, legislators and communities to drive the agenda for carbon accounting and reporting. The module addresses the challenges facing economists and accounting standard setters to reliably measure carbon emissions and the convergence of approaches across countries. Different approaches to carbon accounting and how they influence carbon reporting, sustainable finance, and accommodate social and global interests are considered.

  Compulsory/optional: Compulsory

  Assessment: 2,000-word Group Report (5 Credits) 

                          2,000-word Individual Report (10 credits) 

   

  Module: Sustainability and Socially Responsible Investment

  Number of credits: 15

  Description of module: With the UN’s sustainable development goals been highly ranked in the global corporate and social agenda, an increasing number of investors require such principles to be incorporated within companies’ investment practices. This has led to the emergence of a new financial industry, that of Sustainable and Responsible Investment funds (SRIFs) which aims to create positive impact investing and support the most sustainable companies across the globe. The aim of this module is to familiarise students with the key principles, theoretical and technical aspects of sustainable and responsible investing. Students will examine a variety of different approaches to socially responsible and sustainable investment management including strategic allocation, evaluation of investment performance, Ethical, Social and Environmental (ESG) portfolio diversification, etc. Students' learning is facilitated in this module by initially examining the underlying theories and how the theoretical concepts are applied in practice through the use of case studies and problem-based learning.

  Compulsory/optional: Compulsory

  Assessment: 3,000-word Individual Assessment (100%)

• Semester Two Pathway B

  Either both Pathway A modules, OR both Pathway B modules 

  Pathway B

  Module: Islamic Portfolio & Asset Management

  Number of credits: 15

  Description of module: The aim of this module is to familiarise students with the key principles, theoretical and technical aspects of Islamic asset management as well as the effects of the Sharī'ah board, hedging funds, and capital markets. It also aims to explore and analyse the differences between conventional and Islamic asset and portfolio management. This module also aims to provide an in-depth understanding of Islamic asset and portfolio management, including the types of funds offered and their operational procedures. Students will examine a variety of different approaches to managing Shari'ah-compliant financial assets, such as mutual funds, equity, Sukuk, Ijarah, and commodity funds and whether they are an attractive alternative for investors. Students' learning is facilitated in this module by initially examining the underlying theories and how these theoretical concepts are applied in practice through the use of case studies and problem-based learning.

  Compulsory/optional: Compulsory

  Assessment: 2,000-word Group Report (5 Credits) 

                           2,000-word Individual Report (10 credits) 

   

  Module: Islamic Sustainable Finance

  Number of credits: 15

  Description of module: This module is concerned with issues in Islamic sustainable and green finance. Traditional economic theory is contrasted with Islamic economic theory and concepts of ownership and wealth. The relationship between prosperity and Islamic economic theory is explored. At the same time, this module provides an in-depth understanding of Islamic sustainable finance especially in the areas of sustainable development goals (SDG’s), inclusion, access to finance, social and economic justice, human welfare, impact investing, and economic growth. In addition, through the Maqasid al Sharia – Islamic moral economy values - the use of Islamic finance to support “green” investments/Sukuk to finance green sustainable projects will be also explored. Regardless of religious considerations, Islamic finance microcosm provides a contemplative model for serious ethical reform. The influences of socially responsible, sustainable changes in the financial system on Islamic markets are also explored.

  Compulsory/optional: Compulsory

  Assessment: 3,000-word Individual Assessment (100%)

• Semester 3

  Module: Dissertation

  Number of credits: 50

  Description of module: A 10, 000-word individual research-based dissertation on an approved topic relating to an area covered in the course. Students will formulate and develop the relevant research questions, hypotheses and research design, and use appropriate software (Stata, Nvivo) to test their hypotheses.

  Compulsory/optional: Compulsory

  Assessment: Individual Work (100%)

  Module: Leading Strategic Change through Creativity and Innovation

  Number of credits: 10

  Description of module: 3,500 individual report providing critical analysis of a live organisation. 

  Compulsory/optional: Compulsory

  Assessment: Coursework (100%)

   

  22 contact hours for each 15-credit module