Publications

10 Jun 2021
Blog Post

Managing Sustainable Advantage with Key ESG Cofounders, Anne-Marie Schoonbeek and Heleen van Poecke

that perspective to the next level,” she shared. Schoonbeek was also eager to gain more experience as an operator at a startup company to supplement her experience as a consultant working with large businesses. Specifically, she was drawn... View Details

14 May 2024
Blog Post

Creating Emerging Markets Sustainability Series - How to Build a Culture of Intrapreneurship

transcript to learn more from her views on the building blocks of innovation, which can apply to any substantive progress on sustainability initiatives. Vimal Shah is the Co-Founder and Chairman of Bidco Africa, a leading FMCG... View Details

29 Aug 2024
Blog Post

Exploring Sustainable Energy: A Visit to Vestas Wind Turbine Manufacturing in Odense, Denmark

In January 2024, Professors Willy Shih and Mike Toffel led 45 HBS MBA students on site visits to witness the energy transition and innovative sustainable production activities throughout Denmark and the Netherlands, in the second year of... View Details

08 Jul 2021
Blog Post

Managing Sustainable Advantage with Key ESG Co-Founders, Anne-Marie Schoonbeek and Heleen van Poecke

elevates that perspective to the next level,” she shared. Schoonbeek was also eager to gain more experience as an operator at a startup company to supplement her experience as a consultant working with large businesses. Specifically, she... View Details

Keywords: Entrepreneurship; Technology

06 Nov 2012
Op-Ed

Stop Talking About the Weather and Do Something: Three Ways to Finance Sustainable Cities

The wrath of Hurricane Sandy has illuminated a fundamental question: How do we ensure that our cities are resilient in the face of inevitable future disasters? A destroyed city is not a sustainable city. I'm making the case that it's time... View Details

Keywords: by John Macomber; Construction; Real Estate; Energy; Utilities

December 2019
Supplement

Mãe Terra and Unilever (B)

By: Lynn S. Paine, Ruth Costas and Mariana Cal

Unilever is making strides to integrate the operations of Mãe Terra—one of Brazil's leading brands for packaged organic foods—into its own structures, after acquiring the company in 2017. Mãe Terra’s CEO, Alexandre Borges, must decide whether to implement his original... View Details

Keywords: Brand Management; Sustainability; Mergers and Acquisitions; Mission and Purpose; Social Enterprise; Corporate Governance; Governing and Advisory Boards; Environmental Sustainability; Organizational Culture; Food and Beverage Industry; Agriculture and Agribusiness Industry; Brazil; Latin America

June 2023 (Revised February 2024)
Case

Betting on Green Steel

By: George Serafeim and Sofoklis Melissovas

'Betting on Green Steel' traces the innovative journey embarked upon by a group of MBA students who have set out to conceive a novel steelmaker that pioneers the production of green steel. The ensemble is confronted with a series of critical choices that will shape the... View Details

Keywords: Decarbonization; Sustainability Management; Technology; Industrialization; Climate Risk; Energy; Entrepreneurship; Environmental Sustainability; Technology Adoption; Climate Change; Innovation and Invention; Business Strategy; Family Business; Steel Industry; Middle East; India

06 Mar 2025
Blog Post

IFC India 2025: Sustainability in Action: Inside Hindustan Unilever’s Public Sanitation and Plastic Recycling Facilities

Professor Vikram Gandhi’s Immersive Field Course (IFC) “Development while Decarbonizing: India’s Path to Net-Zero" delved into the critical aspect of decarbonization and sustainability goals amid India's rapid development. The course... View Details

June 2023 (Revised June 2023)
Supplement

Roche: ESG and Access to Healthcare

By: George Serafeim

In May 2022, Roche Group, one of the largest healthcare companies in the world, hosted its first investor event focused exclusively on its efforts to impact access to healthcare. While Roche had recently set an ambitious goal to double the number of patients that had... View Details

August 2022 (Revised October 2022)
Case

Sian Flowers: Fresher by Sea?

By: Willy C. Shih, Michael W. Toffel and Pippa Tubman Armerding

The setting for this case is the Sian Flowers, a company headquartered in Kitengela, Kenya that exports roses to predominantly Europe. Because cut flowers have a limited shelf life and consumers want them to retain their appearance for as long as possible, Sian or its... View Details

Keywords: Supply Chain; Supply Chains; Sustainability; Sustainable Agriculture; Sustainability Reporting; Carbon Emissions; Supply Chain Management; Quality; Ship Transportation; Cost Management; Agriculture and Agribusiness Industry; Africa; Kenya; Netherlands; Europe

27 Nov 2023
Blog Post

Creating Emerging Markets Sustainability Series - Opportunities for Green Entrepreneurship in the Face of Policy Inaction

Creating Emerging Markets Sustainability Series –Opportunities for Green Entrepreneurship in the Face of Policy Inaction Cover image features Adenike Ogunlesi This year’s annual UN conference on climate change, COP28, will take place in... View Details

October 2009 (Revised January 2014)
Teaching Note

Genzyme Center (A), (B) & (C)

By: Michael W. Toffel

Teaching Note for [610008], [610009], and [610010]. View Details

Keywords: Environment; Environmental And Social Sustainability; Environmental Operations; Environmental Protection; Environmental Regulation; Standard Setting; Standards; Environmental Accounting; Engineering; Governance; Energy; Economics; Operations; Projects; Social Enterprise; Infrastructure; Construction Industry; Biotechnology Industry; Real Estate Industry

April 2024 (Revised October 2024)
Case

New Belgium Brewing and Climate Change

By: Michael W. Toffel, Kenneth P. Pucker and Michael Norris

In 2023, Colorado-based craft brewery New Belgium Brewing was considering how best to meet its emissions reduction targets. After decades of growth, the beermaker had grown to become one of the largest craft brewers in the U.S., and was purchased in 2019 by Japanese... View Details

Keywords: Beer; Carbon Accounting; Carbon Credits; Operation Management; Renewable Energy; Supply Chain; Environmental Sustainability; Climate Change; Corporate Social Responsibility and Impact; Environmental Accounting; Food and Beverage Industry; United States; Colorado

Article

ESG Integration in Investment Management: Myths and Realities

By: Sakis Kotsantonis, Christopher Pinney and George Serafeim

The authors’ aim in this article is to set the record straight on the financial performance of sustainable investing while also correcting a number of other widespread misconceptions about this rapidly growing set of principles and methods. Myth Number 1:... View Details

Keywords: ESG; Sustainability; Investment Management; Finance; Corporate Social Responsibility; Integrated Corporate Reporting; Corporate Social Responsibility and Impact; Investment; Environmental Sustainability; Corporate Governance

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Fall 2016
Article

How Do Customers Respond to Increased Service Quality Competition?

By: Ryan W. Buell, Dennis Campbell and Frances X. Frei

When does increased service quality competition lead to customer defection, and which customers are most likely to defect? Our empirical analysis of 82,235 customers exploits the varying competitive dynamics in 644 geographically isolated markets in which a nationwide... View Details

Keywords: Service Quality Competition; Retail Banks; Empirical Operations; Retention; Service Operations; Quality; Competition; Banking Industry; United States

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May 2023
Supplement

Sian Flowers: Fresher by Sea - Video Supplement

By: Willy C. Shih

The setting for this case is the Sian Flowers, a company headquartered in Kitengela, Kenya that exports roses to predominantly Europe. Because cut flowers have a limited shelf life and consumers want them to retain their appearance for as long as possible, Sian or its... View Details

Keywords: Supply Chain; Supply Chains; Sustainability; Sustainable Agriculture; Sustainability Reporting; Carbon Emissions; Supply Chain Management; Quality; Ship Transportation; Cost Management; Agriculture and Agribusiness Industry; Africa; Kenya; Netherlands; Europe

Article

Integrated Reporting and Investor Clientele

By: George Serafeim

In this paper, I examine the relation between Integrated Reporting (IR) and the composition of a firm's investor base. I hypothesize and find that firms that practice IR have a more long-term oriented investor base with more dedicated and fewer transient investors.... View Details

Keywords: Integrated Reporting; Sustainability Reporting; Long-term Investing; Short-termism; Accounting; Integrated Corporate Reporting; Environmental Sustainability; Investment; Corporate Governance

SSRN

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2018
Working Paper

After the Carnival: Key Factors to Enhance Olympic Legacy and Prevent Olympic Sites from Becoming White Elephants

By: Isao Okada and Stephen A. Greyser

In recent years, the total spending on hosting the Olympic Games has snowballed. The 2008 Beijing Olympic Games spent $40 billion on infrastructure development, and the 2014 Sochi Winter Olympics reached $50 billion. Even when the glorious but costly Olympic Games come... View Details

Keywords: Olympic Venue; Effective Reuse; White Elephant; Sustainability; Buildings and Facilities; Sports