永續投資

臺北科技大學 114-2 學期課程，課號 357303。

課程大綱

This course provides an introduction to the fundamental concepts underlying Environmental, Social, and Governance (ESG) investing. ESG investing, also known as sustainable investing, is an investment strategy that incorporates environmental, social, and governance factors alongside traditional financial analysis in the investment decision-making process. We will begin by exploring traditional investment concepts. We then discuss ESG factors and examine why they are essential to consider in today's investment landscape. In addition, we will discuss alternative viewpoints to ensure a balanced perspective on this important topic. The scope of this course extends beyond merely ESG investing. In the concluding section, we will pay more attention to the issues of global warming and climate change, which constitute critical components of environmental education. 本課程介紹環境、社會和治理 (ESG) 投資的基本概念。 ESG投資，也稱為永續投資，是一種在投資決策過程中將環境、社會和治理因素與傳統財務分析相結合的投資策略。我們將首先探討傳統投資觀念。接著，我們將討論 ESG 因素，並研究為什麼它們在當今的投資環境中至關重要。此外，我們將討論替代觀點，以確保對這一重要主題的平衡觀點。本課程的範圍不僅限於 ESG 投資。在結論部分，我們將更加關注全球暖化和氣候變遷議題，這是環境教育的重要組成部分。

課程進度

Week 1: 228 Peace Memorial Day Bridge Holiday (no classes) Week 2: Introduction to the course & ESG Investing Week 3: Fundamental analysis (1/2) Week 4: Fundamental analysis (2/2) Week 5: Oral presentation #1: Explore ESG funds Week 6: Children’s Day Bridge Holiday (no classes) Week 7: What is ESG Investing? (1/2) Week 8: What is ESG Investing? (2/2) / Written assignment #1 due on 4/24 Week 9: Midterm Exam Week / 四技二專考場 (no classes) Week 10: Labor Day (no classes) Week 11: Oral presentation #2: Theories of the firm Week 12: Oral presentation #2: Shareholder engagement (May change schedule) Week 13: Oral presentation #2: Defining and measuring ESG performance Week 14: Oral presentation #2: ESG in managing institutional investor funds Week 15: Oral presentation #2: Divergent ESG ratings / Written assignment #2 due on 6/19 Week 16: The rise and fall of ESG investing / Written assignment #3 due Week 17: Dragon Boat Festival (no classes) Week 18: Final Exam Week / Factor investing and smart beta / Written assignment #4 due

評量方式

1. Attendance & participation: 20% 2. TWO oral presentations: 40% 2-1. Oral presentation #1: Explore the portfolio composition and performance characteristics of a selected ESG fund. 2-2. Oral presentation #2: Present one selected topic from the required textbook (e.g., Ch 3, 8, 9, 10), or assigned journal articles (e.g., Dimson et al. (2020), Journal of Portfolio Management). 3. FOUR written assignment: 40% 3-1. Written Assignment #1: Short response paper selecting a stock and discussing its ESG strengths and weaknesses (maximum to 2 pages). (Due on 4/24) 3-2. Written Assignment #2: Summarize TWO notes from other students’ presentations (maximum to 2 pages for each note). (Due on 6/19) 3-3. Written Assignment #3: Short response paper discussing the challenging of ESG investing (maximum to 2 pages). (Due on 6/12 before class) 3-4. Written Assignment #4: Short response paper discussing factor investing and smart beta (maximum to 2 pages). (Due on 6/26 before class)

教材

【遵守智慧財產權觀念，請使用正版教科書，不得使用非法影印教科書】 使用外文原文書：是 Hill, John. Environmental, Social, and Governance (ESG) investing: A balanced analysis of the theory and practice of a sustainable portfolio. Academic Press, 2020 (e-book at NTUT's library).