In 1987, the UN World Commission on Environment and Development defined “sustainable development” as the “development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. Since then, this concept has gained widespread endorsement as a viable paradigm to address the most pressing challenges of modern society, ranging from global warming and environmental degradation to social inequalities and human rights protection. How has the notion of sustainable development entered the business world, shaping strategies, operations, governance, and corporate finance? How are organizations balancing the pursuit of economic prosperity with societal well-being and environmental protection? What progress has been made, and what challenges have emerged?
To address these questions, the course examines the implications of “sustainable development” for business strategy, management, corporate governance and finance, to shed light on the role of business in orienting production and consumption patterns toward a more environmentally and socially sustainable economy. Specifically, the course is structured into two integrated modules:
• Business Strategy for Sustainability – The module introduces students to the strategic challenges and opportunities that sustainability poses for contemporary business. It begins by framing key concepts of strategic management, alongside policy frameworks and treaties defining sustainable development, situating business strategy within planetary boundaries. The course then examines how firms can build and sustain competitive advantage amidst the challenges of climate change, biodiversity decline, and human rights issues along global value chains, before turning to management approaches, tools, and practices that support sustainable business. Specific topics include business modelling for the circular economy, sustainable and responsible innovation, sustainability certifications and voluntary standards, sustainable supply chain management and human resource management.
• Advanced Corporate Finance for Sustainability – The module provides an in-depth introduction to sustainability and non-financial reporting, with a focus on Corporate Social Responsibility (CSR), Environmental, Social, and Governance (ESG) disclosure, and integrated reporting. It equips students with theoretical foundations and practical tools to critically assess sustainability communication, ESG risks and opportunities, and their implications for corporate strategy, valuation and sources of financing (from banks and capital markets).

At the end of the course the student will have a fundamental understanding of:
• The conceptual foundations of sustainable development and their implications for corporate strategy, governance, and finance.
• The strategic role of firms within socio-ecological systems, including dependencies, externalities, and responsibilities.
• The main approaches to business strategy for sustainability, including sustainable business models, innovation, and stakeholder value creation.
• The evolution of Corporate Social Responsibility (CSR), Environmental, Social and Governance (ESG) frameworks, and the principles of double materiality.
• Relationship between corporate finance and corporate governance, including monitoring, incentives, and stakeholder perspectives.
• The correct definitions of sustainable finance and the links between corporate finance, sustainability, and responsible business.
• The European and international legislative frameworks connected to sustainable finance.
• The fundamentals of ESG reporting, disclosure practices, and the risks of greenwashing and social-washing.

At the end of the course the student will be able to:
• Apply strategic management frameworks to analyze how sustainability can be embedded into corporate strategy, governance, and operations.
• Design and evaluate sustainable business models, identifying trade-offs and innovation opportunities across the value chain.
• Interpret and critically assess sustainability and integrated reports, linking disclosure practices to strategic and operational choices.
• Use ESG and non-financial data to evaluate both sustainability performance and its financial implications.
• Engage with real-world cases to assess how firms translate sustainability commitments into strategies, operational practices, and investment decisions.
• Present analyses of sustainability reports, ESG performance, and corporate strategies in a structured manner.
• Collaborate effectively in groups to prepare and deliver case-based presentations on real-world sustainability practices.
• Use appropriate terminology and frameworks to bridge strategic, operational, and financial perspectives on sustainability.