Live Updates: Coronavirus Impact On Business Schools
What is the impact of coronavirus on business schools? We bring you the latest updates including campus closures, changes to MBA admission requirements, and more
IE Business School developed a new model of teaching during the COVID-19 pandemic to meet the needs of international students. Here’s why that liquid learning model is here to stay
Check out the latest COVID-19 campus updates for US business schools as most schools plan to welcome students back to campus for the fall 2021 semester
Check out the latest COVID-19 campus updates for European business schools as students are welcomed back to campus and schools continue to adopt hybrid teaching
By focusing on sustainable, equitable, and long-term outcomes, here's why green finance initiatives could be key to coronavirus recovery
Why You’ll Be Liquid Learning On Your MBA After COVID-19
International students make up around 95% of IE Business School's MBA class. While that's great for class diversity and the intercultural learning that's the lure for so many business school applicants, it's less great when a global pandemic restricts international travel and leaves many students scattered around the world.
COVID-19 posed a huge new challenge to the school: How do you deliver an on campus MBA education when half your students aren't in the classroom?
The answer is liquid learning. IE University launched a new teaching model midway through 2020. Based on cutting-edge edtech and driven by innovative faculty members, the evidence-based education method develops students' skills, expertise, and mindset, by blending virtual and in-person teaching.
Now the model is here to stay.
Using EdTech to survive COVID-19
IE had to act quickly to serve its international student population. Liquid learning was created to allow all students the same immersive experience, no matter where they are in the world, or at what time they are studying.
Lessons can be delivered asynchronously and synchronously; at home, in-person, or both. IE also provides a mixture of curricular and extracurricular activities to all students. The idea is that you can fluidly move from one learning state to another, hence the term liquid.
The system uses a variety of cutting-edge education technologies. The school upgraded cameras and microphones in classrooms to make the remote experience as seamless as possible. Now, remote students are shown on a large screen within the classroom—as if they were there in person—and the school has even used virtual reality to bring remote students into class.
With students able to attend class at the same time, they can interact and talk with professors as if they were in the classroom together. One of the core principles of liquid learning is collaboration, and students are encouraged to work together in groups no matter where they are in the world.
IE Business School also recently announced plans for a new Liquid Learning Center. The center will continue the work that began when the school adapted to survive as the coronavirus pandemic swept aside traditional on-campus higher education.
“It gives us so much more flexibility for learning in different ways,” says Paula Robles, executive director of MBA programs at IE.
Incorporating edtech into the learning experience has proved successful, and now as IE plans for life after the pandemic, the school has decided to continue liquid learning and develop the sophistication of the experience.
“Since we have technology that enables us to do things in better ways, we will use it,” says Paula.
Why liquid learning is the future of business education
Remote learning became more sophisticated during the pandemic. Investment in edtech grew as high as $12 billion in 2020, and IE believes the days of learning entirely in-person are gone.
The school does offer an online MBA program, which has been ranked second in the Financial Times Global Online MBA rankings since 2018, but it feels a liquid approach utilising the lates edtech is more appropriate for the current climate.
Investors are clearly aware of the growing trend in education technologies. In the US, edtech ventures raised $803 million in funding during 2020, while in India the figure was almost double at $1.4 billion. By 2025, the rising global market for edtech is expected to reach $181.3 billion, bringing with it a wave of innovative new teaching methods.
“I expect that 50% of all executive education programs will be online or blended,” says Nick van Dam (pictured below), chief learning officer and chair of IE Univesity's center for liquid learning.
With remote working a prominent part of the curriculum, the in-person experience will still be needed for things like networking, informal connections, and culture building, Nick says.
He compares a blended approach to learning with the differing experiences of attending a sports or music event online and in-person. Both offer their own benefits which suit certain individuals more than others.
“Online is often more convenient and lower cost. Still, many people prefer going to a concert hall or soccer stadium. Why? It’s all about the experience,” says Nick.
Taking Liquid Learning global
IE plans to expand liquid learning to become an entirely new educational discipline by embracing edtech and adopting new technologies as soon as they emerge.
As edtech develops, all universities will have to go through a change, Nick believes. The Liquid Learning Center will be the driving force behind IE's journey through that change.
“Huge innovations are ahead of us in terms of platform and content,” he says. “IE’s vision is to continue to advance its learning technology architecture—adopting a ‘plug and play’ approach.”
As the school innovates, adopts new technologies, and further develops the student experience, the new center for liquid learning will showcase the journey, giving examples of how IE is adopting new technologies, as well as hosting conferences and webinars around the new teaching method.
Educational resources and research into liquid learning will be freely available to all, and the center will also provide access to scientists working on the discipline.
IE hopes the center will promote the discipline beyond the school and create a global community around it, helping the school drive a new form of education and cement the liquid MBA model as a permanent part of the school's educational offering.
“We are doing this because we believe that knowledge and best practises sharing is part of our purpose and role in society,” says Nick.
COVID-19 Campus Updates For US Business Schools
COVID-19 threw business education into disarray in 2020, as everyone from the M7 business schools—a group of elite business schools in the US—to the rest of the pack shifted teaching online and had to adapt to the challenges of the pandemic.
The majority of business schools in the United States are now planning to welcome students, staff, and faculty back to campus for the fall 2021 semester as they usher in the much anticipated return of in-person teaching.
Safety protocols will remain in place on some campuses, with mask wearing and social distancing not disappearing entirely. Schools are also asking students to get vaccinated before returning to campus, unless exempt.
Here, we highlight the latest COVID-19 campus updates for top business schools in the US. This page is regularly updated with the latest campus reopening plans for MBA students, and more schools will be added as information is released.
COVID-19 Campus Updates: US Business Schools
The M7 business schools
Chicago Booth School of Business
Booth’s Hyde Park and Gleacher campuses are only allowing Illinois residents to be permitted. For the school’s Yuen Campus, only Hong Kong residents will be permitted, and for the London campus at St. Paul’s, only residents of the greater London region are being permitted.
The wider university recently announced plans to resume on-campus activities fully for fall 2021, if the state of the pandemic and the health of the university community allow.
The planned resumption of in-person activities would include Booth’s campuses in Chicago, London, and Hong Kong, in consultation with local health officials in those locations.
All teaching sessions are being recorded so they are available for both students who can attend on campus, and those who have to study remotely.
Harvard Business School
A memo from June 3rd, 2021, confirms that all remaining coronavirus restrictions in the state of Massachusetts, and the cities of Boston and Cambridge, have been lifted. Masks will continue to be mandatory on public and private transportation systems, in health care facilities, and in some other settings.
Individuals are encouraged to continue wearing masks and maintain social distancing until they are fully vaccinated. Generally, though, the state of emergency will be lifted, and all signals are to get vaccinated and resume pre-pandemic activities.
Across Harvard, some restrictions remain regardless of vaccination status. Masks and physical distancing will continue to be required indoors, there are capacity limits on gatherings, and weekly testing will be expected for faculty and staff coming to campus more than four hours per week on a regular basis.
The plan is for full in-person classes to resume for the fall 2021 semester. Vaccines will be required for all faculty, staff, and students by the fall, with exceptions granted for medical or religious reasons.
Kellogg School of Management
Kellogg is continuing its in-person instruction—which began in July 2020—this quarter. Full-time and Evening & Weekend MBA students will be offered in-person classes, and there will be virtual options for those who cannot join in person because of health, safety or travel restrictions.
From June 1st, 2021, Evening & Weekend MBA students travelling from outside of Illinois will also be eligible to participate in in-person instruction.
The school’s Executive MBA students are being offered a hybrid teaching model on the Evanston and Miami campuses, which includes all students who reside in the US, as well as international students traveling from countries permitted by the US State Department and the CDC.
Full health and safety protocols are in place, such as social distancing, mask wearing, and enhanced cleaning. There is also a testing system in place, including contact tracing for any positive cases.
The wider university at Northwestern will require COVID-19 vaccination for all students attending from fall 2021.
From fall 2021, there will be in-person classes at MIT Sloan School of Management.
All students enrolled or enrolling in fall classes must be vaccinated before semester begins, unless they have an approved exemption.
Faculty and staff working on campus, and certain contractors and others working on campus or accessing MIT facilities, must have had their vaccination by July 30th, 2021.
Stanford Graduate School of Business (GSB)
Stanford GSB is operating a hybrid model as it transitions back to in-person teaching. A new MSX class arrives in July 2021, and MBA students are returning to campus in the fall. The school is still finalizing detailed plans for the new academic year based on evolving public health directives.
The Wharton School at the University of Pennsylvania is planning for the full resumption of in-person teaching, research, and university operations for the fall semester 2021, in line with plans set by the wider university.
All students set to be on campus for the new academic year fall 2021 are required to get vaccinated, unless exempt for medical or religious reasons.
All current faculty, staff, and post-doctoral trainees are required to be fully vaccinated against COVID-19 no later than August 1st, 2021.
Those not fully vaccinated will be required to continue to participate in daily symptom checks on PennOpen Pass, and partake in weekly Penn Cares screening testing, as well as to continue to wear masks indoors.
Other US Business Schools
Cornell anticipates that classes will return to in-person for the fall semester and the start of the new academic year in 2021. The school requires COVID-19 vaccination for all students planning on attending campus.
Cornell announced on May 18th, 2021, that it will accept all vaccines approved by the US Food and Drug Administration, the European Medical Association, and the World Health Organization.
Students are expected to be vaccinated as soon after their arrival as possible and will be eligible for vaccination locally. The school encourages incoming international students still awaiting their vaccination to arrive as early as possible to allow for vaccination before teaching commences on August 8th, 2021.
Fuqua School of Business
Things are looking up at Duke University’s Fuqua School of Business.
“The situation on campus is improving almost daily as we are seeing vaccination rates steadily increase,” explains Russ Morgan, senior associate dean for full-time programs at Fuqua. “That has allowed us to increasingly provide connectivity across our community members and we have recently completed several in-person celebrations with our Daytime MBA graduates. With that has come a refreshing energy and optimism about the upcoming academic year.”
A hybrid model has been in place for the academic year 2020/2021, and in-person, co-curricular activities have all been virtual.
But for the upcoming academic year starting fall 2021, the plan is for Fuqua School of Business to return to as normal an operating environment as possible.
“When students arrive on campus in the new academic year, we will return to operating 100 percent in person. Because some incoming students may be challenged with immigration issues, we will be working with impacted individuals to ensure they have access to classes until they are able to join their program on campus,” Russ explains.
There’ll be in-person orientation, and student events will return to campus. A major factor in bringing students back to campus, Russ says, is Duke’s decision to require all students to be vaccinated.
Mask wearing will also continue, as will surveillance COVID-19 testing.
At American University’s Kogod School of Business the majority of summer 2021 classes will be held online.
The school plans to offer in-person teaching when the new academic year begins in fall 2021. All students, faculty, and staff will be required to have been vaccinated prior to being on campus.
Haas School of Business
From July 12th staff are expected to return to campus at Berkeley’s Haas School of Business, in preparation for the fall 2021 semester, beginning on August 8th.
The school is planning for in-person teaching to resume at the start of the new academic year. It anticipates that some public health measures will still be required.
Classes with enrollments of 200 or more students will continue to be delivered remotely during the fall semester, although most courses will not have an ‘all-remote’ option. A limited number of remote teaching options are being made available to support the needs of international students who may be delayed entering the US. All students, staff, and faculty returning to campus will be required to get vaccinated, unless exempt.
Louisiana State University
Louisiana State University’s Ourso College of Business is planning for a fully in-person teaching schedule for fall 2021. The school is also encouraging students who plan to be on campus to get vaccinated before the new academic year.
McDonough School of Business
Teaching is expected to return to in-person at McDonough School of Business for the fall 2021 semester.
All undergraduate, graduate, and professional students planning to return to the Georgetown McDonough campus for the fall 2021 semester will be required to be fully vaccinated against COVID-19, unless exempt.
The school will help students who have not been vaccinated or who have received a vaccine that has not been authorized by the FDA or WHO to get an authorized vaccine on campus upon arrival.
The University of Michigan’s Ross School of Business is continuing to offer a mix of remote, hybrid, and a few fully in-person classes to undergraduate and graduate students throughout the spring and summer terms.
Campus is open to faculty, staff, and students, and co-curricular experiences will be offered in remote, hybrid, and in-person formats consistent with the latest public health protocols.
The school plans a return to full in-person teaching for the fall 2021 semester, and students should plan to be back on campus for the start of the new academic year. The school is strongly recommending students get vaccinated—there’s a mandatory requirement for vaccination for any student living on campus.
For international students, the school will continue to monitor international travel restrictions, and will provide a hybrid model of teaching for students unable to attend.
NYU Stern School of Business has reduced campus capacity and placed a cap on classroom attendance. Two meters physical distancing is required in classrooms, and large events have been postponed.
As a result, the school has adopted its teaching method, and classes are currently following one of the following two formats.
Each class session will either meet in person, on campus, but in each session half of the students will be present in class and half will be online. There is a combination of synchronous and asynchronous classes. Or roughly half of the class sessions will be in person, and roughly half will be online. In each case, all of the students will be in the same format (in person or online) for each class session.
All students who plan on returning to NYU’s campuses in the US must be vaccinated against COVID-19. Students, faculty, and employees who have been vaccinated must upload proof of vaccination status.
Students must upload proof of vaccination by July 19, 2021.
TCU Neeley School of Business
At TCU Neeley, administration, faculty, and staff are all currently back on campus. The school is currently operating under a hybrid model of teaching for summer courses, but will return to campus completely in fall 2021.
Dartmouth Tuck School of Business is planning a full in-person teaching schedule for the fall 2021 semester.
The school requires all students who will be on campus for the new academic year to be fully vaccinated with a COVID-19 vaccine that has received full approval or emergency use authorization by the FDA, or full approval or emergency use listing by the World Health Organization. The College will offer medical and religious exemptions.
Yale School of Management (SoM)
Yale SoM will be open and ready for in-person learning again in fall 2021. Accommodations may be made for some students to attend virtually in the first term of the fall semester, due to uneven COVID-19 restrictions in other countries, but it is the school’s goal that all students be in-residence by the end of the first term.
This article was last updated June 17th 2021
COVID-19 Campus Updates For European Business Schools
The coronavirus pandemic hit Europe hard, but as we begin to exit what for many of us has been a third lockdown, there is light at the end of the tunnel. Many business schools have welcome students back to campus, and more plan to do so by fall 2021.
Schools have largely maintained a hybrid model of teaching, with students splitting their time between the physical and virtual classrooms. That seems to be the plan for most schools going forward.
Here, we highlight the latest COVID-19 campus updates for Europe’s top business schools. This page is regularly updated with the latest campus reopening plans for MBA students, and more schools will be added as updates are released.
COVID-19 Campus Updates: Europe
Business Schools with Multiple Campuses
ESCP Business School
- Berlin campus
As of May 20th, restrictions have been gradually loosened in Berlin. However, classes at ESCP remain online, with students not yet allowed to return to campus due to current restrictions from the Berlin Senate—according to a statement on ESCP’s website.
From June 10th the school’s campus library has been open for on-site use. Students can book a table to work, browse the library, and ask questions at the help desk.
A negative test result is required to work or study on-site. As is wearing a mask through your entire stay on campus. The rest of the campus remains closed.
- London campus
From May 17th COVID-19 restrictions in England eased further. This allowed for the restart of in-person teaching at higher education institutions.
In-person teaching has resumed on ESCP’s London campus, along with student access to campus services.
Students returning to campus are expected to self-test for COVID-19 twice weekly. This applies to students who are safely in England and able to travel to campus.
There are still measures in place in England meaning if international students are travelling from a ‘green’, ‘amber’, or ‘red’ listed country, they will have to complete the necessary quarantine period upon arrival and provide a negative COVID-19 test.
There are remote campus services available for those who cannot attend in-person.
- Madrid campus
ESCP developed a new teaching model to adapt to the demands of the pandemic: Adaptive Model Blended Learning. The model is a hybrid methodology, and is flexible to allow the school to transition between fully in-person, fully online, or blended learning, depending on the circumstances.
The school is currently using a hybrid model of teaching. Recruiting events are also still mostly virtual, as are student events—although a few have started happening in person.
- Turin campus
This year ESCP’s Turin campus is offering a hybrid teaching format to students, with a part of the school’s lessons held online and a part of them in class.
For the next academic year, the school is planning to continue with this hybrid method, with most of the lessons held onsite with some asynchronous online classes.
The expectation is that student events will also be in person, but ESCP is ready to switch them online if needed.
The same applies for recruiting events, which have been organized online during 2020/2021. These can be in-person for students living near Turin and online for international students and candidates.
UK Business Schools
London Business School
London Business School is open for students and staff. The fresh air supply is on in lecture theatres, and the additional units that recirculate air are turned off for safety.
Students, participants, staff, and faculty can collect free, at-home, lateral flow antigen testing kits from the school—the same tests that are available online or for collection from local pharmacies or test centers. Students attending lectures on campus are expected to self-test twice per week.
You must wear a face covering while in any indoor space on campus except single person offices. Face coverings may only be removed while eating or drinking or in spaces where social distancing can be followed.
The school’s current lecture theatre occupancy is set at 50% capacity, and faculty are wearing personal protective visors while teaching. Lecture theatres are cleaned before each teaching session, and for those who can’t attend classes in person, Zoom is being used for virtual teaching.
(©DukeFuqua / via FB)
Business Schools in France / Monaco
Since September 2020, the French government has authorized in-person teaching at universities, with strict regulations including social distancing and mandatory mask wearing.
HEC Paris has since offered students a blended learning format consisting of in-person courses with reduced capacity, and online teaching. Students who do not wish to attend any in-person courses are offered the possibility of attending remotely.
All career fairs will remain virtual until the end of 2021. There is a possibility that smaller student/recruiter events might take place in person before then.
With the progressive deployment of the vaccination campaign, the school expects courses to fully return to normal in September 2021, with full classroom capacity. Though should that not be possible, the model already deployed will guarantee academic continuity.
If borders are open in September 2021, and it is safe to do so, the school plans to also resume full academic and research activities in person and on campus.
EDHEC Business School’s Lille and Nice campuses are open. Wearing a mask is required at all times on campus, and the required health and safety measures are in place on site—hand sanitizing stations, social distancing, and temperature checks, for example.
Classes are in person, and the school plans to keep this in place for the upcoming 2021-22 academic year. The plan is for students to be able to benefit from the full range of on-campus services, including career support, catering, sports facilities, and student life.
International University of Monaco
For the 2020-2021 academic year the International University of Monaco set up a new teaching method that allowed students to safely be on campus. On campus and classroom capacity has been reduced, and mask wearing is mandatory across the premises.
The new model of onsite/online teaching has become the norm. For the 2021-2022 academic year, the school plans to continue with this teaching method, with learning being split 80% on-site and 20% online.
Business Schools in Denmark
Restrictions are being reduced to normal or to a basic level at all Danish educational institutions.
From June 14th, all buildings will reopen with admission and opening hours as normal. Students are no longer required to use face masks or shields. The one-to-two meter social distancing requirement is being removed, and physical attendance for staff on campus will be increased to 50%.
Then from August 1st, students are no longer required to produce a negative test result as a requirement for campus access. CBS will no longer provide a testing facility for staff and students, and all staff may return to campus.
Business Schools in Germany
ESMT Berlin welcomed its first group of students back to campus in April 2021.
The school is currently teaching a mix of hybrid and face-to-face classes. Half of the class is face-to-face, and the other half join online. To make this happen, ESMT invested over $600K to ensure lecture halls are able to deliver an optimum learning experience whether you are in the room or remote.
Health and safety measures in place include testing, mandatory masks, social distancing, cleaning schedules, and contact tracing.
For the new academic year starting in fall 2021, the school currently plans to operate with the same hybrid model of teaching, so students can choose the option they prefer.
Frankfurt School of Finance and Management
Since May 14th, Frankfurt School of Finance & Management has been offering students an elective model of teaching, where they choose whether to attend classes from campus or online.
Students can be on campus only if they provide a negative test no older than 48 hours, and face coverings are mandatory across all public areas of campus.
HHL Leipzig Graduate School of Management launched HHL Promise, the school’s commitment to reopening campus for students enrolling in fall 2021. The school intends to open campus and have in-person lectures.
Social distancing and hygiene measures will be followed. Students are expected to wear mandatory face coverings, regularly wash hands, and use hand sanitizer.
Hybrid study options will be available for international students who can’t yet make it to Germany. If the situation changes before the new academic year, the school is also prepared to begin with online courses during the first few weeks of the semester, opening when it’s safe to do so.
WHU Otto Beisheim School of Management
Teaching is taking place mostly in hybrid form at WHU. BSc and MSc students are currently not on campus as term is over and it’s internship season.
The school’s EMBA conducted two hybrid modules in May 2021, welcoming the first students back to campus. Since June 7th, the school’s full-time and part-time MBA programs have also been offered in hybrid form.
For both campuses in Düsseldorf and Vallendar, state regulations allow students to join classes in person again based on a strict hygiene concept implemented by the school. That includes social distancing, capacity limits for classrooms, hygiene regulations, and testing.
Where regulations allow, WHU has started organizing events in hybrid form or in-person. The majority of events are still taking place online though.
The expectation is that from September 2021, when the new term begins, larger events will be able to be held on campus. Should everything be safe, BSc and MSc students will return to campus for the new academic year.
All classes should take place in person again, with a hybrid model continuing to be used where necessary.
Business Schools in Italy
SDA Bocconi School of Management
In compliance with safety and health rules, SDA Bocconi is using a hybrid teaching model. The school is open, and Master’s and Executive Open Programs students are splitting their time between the classroom and online.
Business Schools in Spain
ESADE Business School
Esade Business School has invested over $3 million in its facilities and systems to guarantee students the same standard of education across all delivery methods: fully in-person, hybrid, or 100% online.
“If something has become clear in the field of university education during this crisis, it is the need to combine different methodologies to develop and strengthen the essential knowledge and skills of every professional,” explains Joan Rodon, vice dean for faculty and research at Esade.
The school is recognized by SGS—the world’s leading inspection, verification, testing, and certification company—as a completely safe space against COVID-19. All classrooms are set up to deliver in-person and virtual teaching. Cleaning and disinfection are carried out daily.
From fall 2021, the school plans to combine online and face-to-face teaching and provide students with more control over their own learning, giving them the option to learn online or on campus, depending on their safety preference.
IE Business School’s campus has been open since July 2020. The school has since developed a comprehensive action plan that involves daily testing of all IE community members, and each classroom being closely monitored for COVID-19 outbreaks.
The school expects all programs to start on their expected dates, and don’t foresee any delays to the new academic year in 2021.
Besides face-to-face teaching, the school’s new Liquid Learning method allows students to follow their studies remotely if circumstances require them to do so.
IESE Business School
IESE Business School is running in-person classes at reduced capacity on its Barcelona campus. All students who are unable to return to the classroom for health reasons or because of travel restrictions can continue with online classes.
The school has also created an online platform for campus access. Students complete a simple questionnaire, and a QR code attached to the platform is used to access campus buildings.
Temperature control cameras have been installed at the campus entrance, and all used rooms are fully disinfected at the end of each day. Standard COVID-19 health and safety regulations are in place across campus.
This article was last updated Monday June 14th 2021
Can Green Finance Spark COVID-19 Recovery?
Green finance—any financial activity designed to generate a climate-friendly outcome—could be the best way to recover from this pandemic and protect our planet.
Jennifer Oetzel, professor at American University’s Kogod School of Business, educates future business leaders in green finance concepts like the green economy and ethical management.
She focuses on financial risk in crisis situations and how companies can mitigate business risk while promoting peace in the countries where they operate.
For Jennifer, green investing and green lending, which have environmental criteria for how funds are used, could be the key to a sustainable long-term recovery from COVID-19 that takes into account the economy, environment, and social implications.
BusinessBecause spoke to Jennifer, who told us three ways green finance initiatives could help us bounce back from COVID-19.
1. Green finance sparks economic growth
Since the start of the pandemic, green investments have been performing better than their non-green counterparts.
Green bonds—investments that support climate and environmental projects—were responsible for almost 17% of all capital flow in 2020 despite representing just 2% of the total bond market.
These sustainable green investments could trigger wider economic growth, which would support the global economy as it recovers from the impact of coronavirus, creating new opportunities for employment, upskilling, and mobility, Jennifer notes.
“COVID has revealed so many social problems and, at the same time, there has been so much interest in green lending in particular,” Jennifer reflects. “In times of crisis, like recessions and pandemics, green finance does not drop in revenue in the same way many financial instruments do.”
2. Global collaboration
As green finance grows as a movement, countries and corporations are coming together to work toward similar overarching goals.
The US Securities and Exchange Commission (SEC) is just one organization that wants to see greater efforts to combat the long-term financial risks of both coronavirus and the effects of climate change.
“The SEC is forcing banks to declare their climate risk so that the broader risk in their portfolio is clear,” says Jennifer. The SEC also monitors market functions and risks in relation to COVID-19 so that it can provide targeted regulatory relief and guidance to those impacted.
3. Greater support for social initiatives
Green finance also encourages investment in renewable energy and climate risk mitigation, which in turn helps address important social issues, including the consequences of COVID-19.
With greater investment in sustainable business initiatives like green power and recycling, Jennifer predicts there could be greater employment and, therefore, broader economic prosperity.
This will likely have a positive impact for communities who have been disproportionately impacted by the pandemic, such as communities of color, those on the poverty line, and those in poor health. Since climate change also disproportionately impacts poorer communities, sustainability and social wellbeing go hand-in-hand.
“Environmental change can have a huge impact on social wellbeing and health, so even if someone is just interested in green financing, they are still helping people beyond that,” Jennifer notes.
Business Schools like Kogod are playing a key role in developing future green finance leaders to spearhead these initiatives.
Kogod’s MS in Sustainability Management equips students with the tools they need to solve organizational problems in their environmental context and produce ecologically and socially responsible solutions.
Kogod’s Master's in Finance program also gives students a firm grounding in global emerging markets and investment analysis, which is valuable for students interested in the role of green finance in economic recovery.
With a sustainable and green finance approach, Jennifer says, businesses and the wider economy can recover from COVID-19.