• Describe, identify, and critically contribute to current academic, policy and industry debates on the business impacts of the climate crisis, in particular in terms of competitiveness, profitability and regulatory compliance.
• Describe, structure, identify, and analyse how firms deal with the climate crisis and what transformational capabilities they require to deal with the climate crisis.
• Describe, apply, and combine the concepts, theories, and methods of strategic management, economics, and international business in relation to business transformation.
• Develop and apply capabilities to define and evaluate business models adaptable to the climate breakdown.

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. 

• New theory
• Teacher’s own research

• Data collection
• Discussion, critical reflection, modelling
• Students conduct independent research-like activities under supervision

A rich literature will be provided at the beginning and during the course, encompassing recent developments in relation to climate change. The following is an indicative list of literature used in the previous courses. Students should consider the purchase of a few case studies for the course.

• Acciaro, M., & McKinnon, A. (2020). International shipping and climate change: policy responses and implications for the maritime industry. In Geographies of Maritime Transport (pp. 312-329). Edward Elgar Publishing.  https:/​/​doi.org/​10.4337/​9781788976640.00022
• Ashurst, C., & Hodges, J. (2010). Exploring Business Transformation: The Challenges of Developing a Benefits Realization Capability, Journal of Change Management, 10(2), 217-237. https:/​/​doi.org/​10.1080/​14697011003795685
• Ben‐Amar, W., Gomes, M., Khursheed, H., & Marsat, S. (2022). Climate change exposure and internal carbon pricing adoption. Business Strategy and the Environment. https:/​/​doi.org/​10.1002/​bse.3051
• Burch, S., & Di Bella, J. (2021). Business models for the Anthropocene: accelerating sustainability transformations in the private sector. Sustainability Science, 16(6), 1963-1976. https:/​/​doi.org/​10.1007/​s11625-021-01037-3
• Dirzka, C., & Acciaro, M. (2021). Principal-agent problems in decarbonizing container shipping: A panel data analysis. Transportation Research Part D: Transport and Environment, 98, 102948. https:/​/​doi.org/​10.1016/​j.trd.2021.102948
• Dowbiggin, A. (2021). Climate risk and business : new challenges for organizations. Palgrave Macmillan. https:/​/​doi.org/​10.1007/​978-3-030-78244-3
• Harvard Business Review, Andrew Winston, Andrew McAfee, Dante Disparte, & Yvette Mucharraz y Cano. (2020). Climate Change: The Insights You Need From Harvard Business Review. Harvard Business Review Press. ISBN: 9781633699922.
• Howard-Grenville, J., Buckle, S. J., Hoskins, B. J., & George, G. (2014). Climate change and management. Academy of Management Journal, 57(3), 615-623. https:/​/​doi.org/​10.5465/​amj.2014.4003
• McIntyre, J. R., Ivanaj, S., & Ivanaj, V. (2018). CSR and climate change implications for multinational enterprises (J. R. McIntyre, S. Ivanaj, & V. Ivanaj, Eds.). Edward Elgar Pub., Inc. https:/​/​doi.org/​10.4337/​9781786437761
• Müller, A. L., & Pfleger, R. (2014). Business transformation towards sustainability. Business Research, 7(2), 313-350. https:/​/​doi.org/​10.1007/​s40685-014-0011-y
• Ócsai, A. (2021). Ecologically conscious organizations : new business practices based on ecological commitment. Palgrave Macmillan. https:/​/​doi.org/​10.1007/​978-3-030-60918-4
• Rivera, J. E., Oh, C. H., Oetzel, J., & Clement, V. (2022). Business adaptation to climate change. Cambridge University Press.
• https:/​/​doi.org/​10.1017/​9781108888691
• Walker, T., Wendt, S., Goubran, S., Schwartz, T., & Walker, T. (Thomas J. . (2022). Business and policy solutions to climate change : from mitigation to adaptation. Palgrave Macmillan/Springer Nature Switzerland AG. https:/​/​doi.org/​10.1007/​978-3-030-86803-1
• Wright, C., & Nyberg, D. (2017). An inconvenient truth: How organizations translate climate change into business as usual. Academy of management journal, 60(5), 1633-1661. https:/​/​doi.org/​10.5465/​amj.2015.0718