Impact investing has emerged over the last decade now represents around $1tn of AUM invested into companies that generate market financial returns alongside social returns. This course was developed and is delivered by a faculty member who has been at the forefront of impact investing and social venture initiatives in Canada for two decades and supported the launch of the $700mm Canadian Social Finance Fund and the $100m Telus Pollinator Fund. The course combines theory and practice from the sector. 
The course describes the evolution of impact investment, the growth of new asset classes, and the opportunities and challenges faced by investors seeking meaningful impact investment vehicles. Students will develop specific ESG and impact investment porftolios as part of the evaluation and the course is focused on the structural and policy factors driving the emergence of Impact Investing. The course will be relevant to a broad range of students from finance, development economics and strategy who are interested in the public policy, philanthropic and financial drivers of the sector. While some basic financial modelling is required for the team projects, it does not require a detailed understanding of finance. 
Impact investing is defined as “investments made into companies, organizations and funds with the intention to generate measurable social and environmental impact alongside a financial return”. The concepts of impact investing and social enterprise emerged out of a recognition that the private sector could also contribute to the development of social agendas, while gaining a financial return.  
The related field of responsible investing (RI) focuses on the efforts of mainstream companies to ensure that there is transparency and accountability about the products and services they deliver. While impact ventures have a core social or environmental purpose, RI covers companies which produce everyday products.  RI refers to the incorporation of environmental, social and governance factors (ESG) into the selection and management of investments. RI focuses on public market investments, in both retail and institutional contexts, and encompasses a variety of portfolio construction and stewardship strategies, including proxy voting, filing shareholder resolutions and shareholder engagement.
Through a combination of readings, discussions, research and a portfolio allocation project, students will gain deep insight into the different perspectives brought by the impact investor who is concerned with stimulating social and environmental impact while generating financial return.  
Business students will complete the course having obtained a strong understanding of the positive impacts financial tools can have economically, socially, and environmentally. Students will also acquire practical knowledge of the tools and methodologies brought to impact investment decisions and assessments. 
Faculty: James Tansey

Course Date & Time

Tuesdays 8:00-11:00 am PST