Cli­mate Change and Busi­ness Trans­formation

Course content

The accelerating climate breakdown has created an urgent need for businesses to transform to remain competitive and resilient in an evolving global landscape. As the impacts of the climate crisis become more pronounced, companies must shift from traditional practices to sustainable, climate-conscious approaches that secure long-term success. This transformation involves rethinking their vision and business operations, redesigning value propositions, and adopting innovative strategies. Businesses are increasingly required to implement measures such as reducing carbon footprints, improving energy efficiency, and investing in renewable energy sources. Additionally, they must develop environmentally friendly products and services that not only address the climate crisis but also align with shifting consumer expectations and regulatory requirements.

The course provides advanced business knowledge placed in the context of a rapidly changing, climate, regulatory and economic environment. It focuses on how businesses need to transform to better respond to the climate crisis and build on the opportunities that this response can offer. Moreover, it aids students in reflecting on the implications that an uncontrolled climate change has on a variety of business types, from energy multinationals, to transport and tourism, agriculture, and electronics. Many of the examples and cases discussed in the course highlight the tension between short-term profitability, that is often driving companies, and longer-term societal goals that should be rooted on sustainable development principles. During the course, students learn to make complex business decisions under uncertainty, evaluate innovative approaches to address climate change issues in the various sectors, communicate the need for change and drive change in their future organisations. Using a variety of examples and theories students will learn how the climate crisis impacts consumer behaviors, marketing and product development, financing, employee retention and choices of production location.

The curriculum is structures around four main themes: (1) Reshaping value chains; (2) Organizational resilience and adaptation; (3) Shifts in work and life; (4) Societal shifts. Module 1 focuses on how businesses can leverage on the climate crisis to increase their competitiveness, either by providing products with lower carbon footprints, marketing solutions to climate-crisis-driven problems, or strengthening their brand. In module 2, students learn how companies need to develop resilience approaches, so that their business can successfully adapt to higher global temperatures and their consequences. Module 3 focuses on how the climate breakdown is likely to change work practices and lifestyle attitudes, so that firm can find new opportunities to respond to these changing societal needs. Module 4 deals with climate-driven societal shifts, and how firms should shape their strategies to respond to these changes.  

Each session combines theoretical readings with case study discussions on existing climate-related challenges and strategies for firms and encourages students to understand and apply abstract frameworks but also discuss their limitations. The students will learn how to integrate ideas and concepts to solve complex realistic problems. They will also learn how to select and acquire relevant knowledge for dealing with the climate crisis at a business level. Through the analysis of how the climate-related issues have been dealt with in the past, students explore how executives were able to recognize opportunities for innovations and translate them into strategy or adapt their operations to account for a changing environment. The course will also include in-class discussions on current topycal issues.