CLIMATE JUSTICE, ESG & SUSTAINABLE INVESTING

Climate change is a wicked problem. The concept of climate justice inherently calls for laws and policies to eliminate inequities in climate risk distribution, and to equally distribute climate benefits. This course explores these issues framed by the concept of climate justice to better explain how and why the situation is what it is presently and to look at ways in which societies do and can use law and policy to shape climate change socio-economic impact distribution, as well as climate change mitigation and adaptation. This course deals with the governance of climate change from the perspective of law and financial governance. The course is divided into two parts. One is dedicated to the exploration of literature and case law on climate justice in EU and international courts. The other part is dedicated to the ESG framework and financial business case studies. In the climate justice part part, we will bring together the scholarship, social science data, policy innovations, literature, and activism around the interacting themes of climate change and social justice. Basic principles, theories, and lessons from scholars as well as case law brought in court by activists and local governments, will be combined to examine how climate change shapes society, how social justice movements shape our efforts to address the impacts of climate change, and how well laws and policies respond to these impacts. In the second part, we will look at ESG and impact investing with concrete examples of how financial institutions are implementing it.

no prerequisites

The course has several learning objectives: 1) explore through readings, proactive class discussions, and team exercises the central ideas and understandings of climate justice; 2) nurture students’ capacity for collegiality and constructive criticism through meaningful engagement with the teacher; 3) strengthen students’ ability to engage in peer evaluation. The course will have two modules, one from a political theory and public law perspective, and the other one from a pragmatic perspective, focused on the ESG framework implementation.

- Climate Change and theories of justice - Climate Change and refugees / migration law - Climate change litigation between collective action, actio popularis and human rights protection - Climate Justice and Cities. City led climate litigation. Moot Court on : Carême v France, App no. 7189/21 (ECtHR, 9 April 2024). - The overall Challenges and Context/Scope of ESG · The era of Company Purpose. · New Stakeholders capitalism and voluntary Science based Targets. · The private sector: players, risks (operational, legal, reputational) and opportunities. · Regulators, standards and taxonomy. · CRSD/SFDR and the impact on dialogue among parties. · New coalitions for new unprecedented scenarios. · A serious approach towards a truly sustainable business strategy. · The central role of Finance. · Innovation and technology (Cleantech and Greentech). · The role of the Chief Sustainability Officer (CSO). · A few real-life examples of Transactions, Strategies and of Greenwashing

Readings will be provided for each class

Classes will consist of a hybrid of readings based seminars where interaction is warmly welcomed, class exercises, guest seminars and a lab.

In course evaluation will be assessed in two groups exercises. One in the part of the course related to climate justice (tentatively a Moot Court) and the other one in the part of the course related to ESG. Take home evaluation will take place via a final essay to be submitted within 8 days before the chosen exam session. The word length of the essay is 1.500 words. We will apply a 10% buffer rule: essays are allowed to be 10% longer or shorter than the length requirement. The breach of the length requirement will impact the assessment. Format requirements: word document, font Times New Roman 11, margins 1 cm, double spaced The essay must be appropriately footnoted. You may use the citation method you are currently using in other courses. Please note that all sources for the essay must be in English except for laws and policies of the jurisdiction of Israel. Those can be quoted in the original language (with an English translation). The essay is intended to develop your analytical skills in approaching a concrete urban law and policy problem. You will be asked to develop an essay where you analyze a legal or policy problem of a city in Israel, on one of the topics that have been addressed during the in person classes. Essays will be marked against the following criteria: Appropriate use of sources and accurate description of the case: (20%); Strength of the argument and critical approach: (20%); Diversity and balanced representation of different points of view: (20%); Originality: (20%); Structure, style and expression: (20%).

No grade required.