Impact Investing

Course code: 2277 (elective), taught in T1 and T2 2025.

This course examines the role financial markets can play in allocating  capital to address environmental and social externalities, with a focus on climate-related risks and the transition to a sustainable economy. We develop the conceptual foundations of impact investing and study how governance, investor horizons, and business models shape firms’ responses to sustainability pressures. The course analyses the pricing of transition and physical risks in equity and fixed-income markets,  addresses the issue of long-term discounting and explores green financing instruments such as green bonds. We also examine the role of banks and central banks in managing climate risk through lending, supervision, and stress testing, and conclude with the political economy of ESG backlash and emerging avenues for impact. Through theory, empirical evidence, and case studies students learn how financial incentives and investor actions influence real economic outcomes.

This course is open to students in the Master in Finance, International Master in Finance, Master in Economics, Master in Management, International Master in Management, Master in Business Analytics, Master in Impact Entrepreneurship and Innovation and the Master in International Development and Public Policy.

Macro-Finance & Central Banking (2021, 2022, 2023), Teaching-Assistant, PhD-level.

Institutions and Financial Structure (2022, 2023), Teaching-Assistant, PhD-level.

Macroeconomics IV (Financial Frictions in Macroeconomics, 2022), Teaching-Assistant, PhD-level.

Econometrics III (Time-series econometrics, 2021) , Teaching-Assistant, PhD-level.

Econometrics II (Micro-econometrics, 2021), Teaching-Assistant, PhD-level.

Fundamental Mathematics (2020), Teaching-Assistant, PhD-level.

Award: Teaching-Assistant of the Year (2021).

Advanced Corporate Finance (2024), Teaching-Assistant, MSc-level.

Finance 1 (2024, 2025), Teaching-Assistant, BSc 1-level.

Applied Econometrics for Business (2022, 2023), Teaching-Assistant, BSc 3-level.         

Finance for AE (2022), Teaching-Assistant, BSc 1-level.

Economics, Markets & Organizations II (2020), Teaching-Assistant, BSc 2-level.

Solidarity (2020), Teaching-Assistant, BSc 1-level.

Applied Microeconomics (2019), Teaching-Assistant, BSc 2-level.

Microeconomics (2016, 2017, 2018), Teaching-Assistant, BSc 1-level.

Macroeconomics (2017), Teaching-Assistant,  BSc 1-level.

Accounting (2016, 2017), Teaching-Assistant, BSc 1-level.