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- All HBS Web
(117,308)
- Faculty Publications (535)
- July 2021
- Article
Material Sustainability Information and Stock Price Informativeness
By: Jody Grewal, Clarissa Hauptmann and George Serafeim
As part of the SEC’s revision of Regulation S-K, many investors proposed the mandatory disclosure of sustainability information in the form of environmental, social, and governance (ESG) data. However, progress is contingent on collecting evidence regarding which... View Details
Keywords: Voluntary Disclosure; Accounting Standards; Sustainability; Nonfinancial Information; Corporate Social Responsibility; Stock Price Informativeness; Synchronicity; Environmental Sustainability; Corporate Disclosure; Corporate Accountability; Stocks; Price; Corporate Social Responsibility and Impact; Accounting; Standards
Grewal, Jody, Clarissa Hauptmann, and George Serafeim. "Material Sustainability Information and Stock Price Informativeness." Journal of Business Ethics 171, no. 3 (July 2021): 513–544.
- 2021
- Article
Nudging the Commute: Using Behaviorally-Informed Interventions to Promote Sustainable Transportation
By: Ashley Whillans, Joseph Sherlock, Jessica Roberts, Shibeal O'Flaherty, Lyndsay Gavin, Holly Dykstra and Michael Daly
Dramatic reductions in carbon emissions must take place immediately. A human-centric method of reducing environmental impacts is to “nudge” employees away from single-occupancy vehicles (SOVs) toward more sustainable commuting options. While an abundance of research... View Details
Keywords: Behavioral Science; Transportation Demand Management; Commuting; Single-occupancy Vehicle Commutes; Transportation; Behavior; Change; Environmental Sustainability
Whillans, Ashley, Joseph Sherlock, Jessica Roberts, Shibeal O'Flaherty, Lyndsay Gavin, Holly Dykstra, and Michael Daly. "Nudging the Commute: Using Behaviorally-Informed Interventions to Promote Sustainable Transportation." Behavioral Science & Policy 7, no. 2 (2021): 27–49.
- 2021
- Working Paper
Accounting for Product Impact in the Oil and Gas Industry
By: Katie Panella, George Serafeim and Katie Trinh
We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the oil and gas industry. We design a monetization methodology that allows us to calculate monetary product impact estimates of... View Details
Keywords: Product Innovation; Impact; Impact Investing; Impact Measurement; ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; Social Corporate Responsibility; Corporate Social Responsibility; Social Impact; Oil; Oil & Gas; Oil And Gas; IWAI; Impact-Weighted Accounts; Product Design; Product Positioning; Society; Environmental Sustainability; Corporate Social Responsibility and Impact; Product
Panella, Katie, George Serafeim, and Katie Trinh. "Accounting for Product Impact in the Oil and Gas Industry." Harvard Business School Working Paper, No. 21-140, June 2021.
- 2021
- Working Paper
Accounting for Product Impact in the Pharmaceuticals Industry
By: Amanda Rischbieth, George Serafeim and Katie Trinh
We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the pharmaceuticals industry. We design a monetization methodology that allows us to calculate monetary impact estimates of accessible... View Details
Keywords: Product Innovation; Impact; Impact Investing; Impact Measurement; ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; Social Corporate Responsibility; Corporate Social Responsibility; Social Impact; Pharmaceutical Companies; Pharmaceuticals; IWAI; Product Design; Product Positioning; Society; Environmental Sustainability; Corporate Social Responsibility and Impact; Product; Safety; Pharmaceutical Industry
Rischbieth, Amanda, George Serafeim, and Katie Trinh. "Accounting for Product Impact in the Pharmaceuticals Industry." Harvard Business School Working Paper, No. 21-139, June 2021.
- 2021
- Working Paper
Impact Accounting for Product Use: A Framework and Industry-specific Models
By: George Serafeim and Katie Trinh
This handbook provides the first systematic attempt to generate a framework and industry-specific models for the measurement of impacts on customers and the environment from use of products and services, in monetary terms, that can then be reflected in financial... View Details
Keywords: Impact Measurement; Product Impact; Customer Welfare; Environment; ESG; Product; Customers; Well-being; Environmental Sustainability; Measurement and Metrics; Accounting; Financial Statements; Analysis; Framework
Serafeim, George, and Katie Trinh. "Impact Accounting for Product Use: A Framework and Industry-specific Models." Harvard Business School Working Paper, No. 21-141, June 2021.
- June 30, 2021
- Article
Rosabeth Moss Kanter: Let Employees Take the Lead on ESG
Companies that don’t give rank-and-file workers a central role in their environmental, social and governance (ESG) work are making a mistake. They risk alienating values-oriented employees who question company practices, and they miss a big opportunity for employee... View Details
Keywords: ESG; ESG (Environmental, Social, Governance) Performance; Leaders; Talent Acquisition; Talent Retention; Engagement; Organizations; Environmental Sustainability; Social Issues; Employees; Leadership; Talent and Talent Management
Kanter, Rosabeth M. "Rosabeth Moss Kanter: Let Employees Take the Lead on ESG." Wall Street Journal (online) (June 30, 2021).
- 2021
- Working Paper
Accounting for Product Impact in the Interactive Media and Services Industry
By: DG Park, George Serafeim and Katie Trinh
We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the interactive media and services industry. We design a monetization methodology that allows us to calculate monetary impact... View Details
Keywords: Product Innovation; Impact; Impact Investing; Impact Measurement; ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; Social Corporate Responsibility; Corporate Social Responsibility; Social Impact; Product Design; Product Positioning; Society; Product; Environmental Sustainability; Measurement and Metrics; Framework; Corporate Social Responsibility and Impact; Social Media; Technology Industry
Park, DG, George Serafeim, and Katie Trinh. "Accounting for Product Impact in the Interactive Media and Services Industry." Harvard Business School Working Paper, No. 21-134, June 2021.
- 2021
- Working Paper
Studying the U.S.-Based Portfolio Companies of U.S. Impact Investors
By: M. Diane Burton, Gurveen Chadha, Shawn A. Cole, Abhishek Dev, Christina Jarymowycz, Leslie Jeng, Laura Kelley, Josh Lerner, Jaime R. Diaz Palacios, Yue (Cynthia) Xu and T. Robert Zochowski
Recent years have seen a dramatic increase in the reliance on market-based solutions to social and environmental problems around the world (Barman 2016; Horvath and Powell 2020). The growth of impact investing is a vivid example of this trend and, although there have... View Details
Keywords: Impact Investing; Impact Portfolio Companies; Investment; Social Issues; Environmental Sustainability; Investment Portfolio; Business Ventures; Analytics and Data Science; Performance; United States
Burton, M. Diane, Gurveen Chadha, Shawn A. Cole, Abhishek Dev, Christina Jarymowycz, Leslie Jeng, Laura Kelley, Josh Lerner, Jaime R. Diaz Palacios, Yue (Cynthia) Xu, and T. Robert Zochowski. "Studying the U.S.-Based Portfolio Companies of U.S. Impact Investors." Harvard Business School Working Paper, No. 21-130, June 2021.
- May 2021
- Case
André Hoffmann: Beyond Philanthropy
By: Lauren Cohen, Hao Gao, Jiawei Ye and Spencer C.N. Hagist
André Hoffmann is a leader of one of the world's largest pharmaceutical companies. His exceptional tenure in philanthropy over the past several decades, including being president of the WWF and the vice-president of the MAVA Foundation, has allowed him access to a far... View Details
Keywords: Strategy; Philanthropy and Charitable Giving; Restructuring; Social Entrepreneurship; Values and Beliefs; Corporate Social Responsibility and Impact; Environmental Sustainability; Cash Flow; Macroeconomics; Ethics; Business and Stakeholder Relations; Switzerland; United States; Japan
Cohen, Lauren, Hao Gao, Jiawei Ye, and Spencer C.N. Hagist. "André Hoffmann: Beyond Philanthropy." Harvard Business School Case 221-093, May 2021.
- 2021
- Working Paper
Science-Based Carbon Emissions Targets
By: David Freiberg, Jody Grewal and George Serafeim
We examine the effect of voluntarily adopting a standard for setting science-based carbon emissions targets on target difficulty and investments to achieve those targets. We find that firms with a track record of setting and achieving ambitious carbon targets are more... View Details
Keywords: Target; Targeting; Target-setting; Target Efficiency; Management Control Systems; Management Accounting; Environment; Environmental And Social Sustainability; Climate Change; Environmental Management; Environmental Accounting; Environmental Sustainability; Management Analysis, Tools, and Techniques
Freiberg, David, Jody Grewal, and George Serafeim. "Science-Based Carbon Emissions Targets." Harvard Business School Working Paper, No. 21-108, March 2021.
- April 2021
- Case
Coca-Cola: Preparing for the Next 100 Years
By: Cynthia A. Montgomery and James Weber
In early 2020, James Quincey, the 14th chair of the 133-year old The Coca-Cola Company, was in the midst of a years-long transformation of Coca-Cola from being the leading carbonated soft drink (CSD) beverage company into a total beverage company. The company’s... View Details
Keywords: Strategy; Diversification; Change Management; Organizational Culture; Environmental Sustainability; Food and Beverage Industry; United States
Montgomery, Cynthia A., and James Weber. "Coca-Cola: Preparing for the Next 100 Years." Harvard Business School Case 721-359, April 2021.
- April 2021 (Revised July 2021)
- Case
Public Equities Impact Investing at BlackRock
By: Shawn A. Cole, Vikram S. Gandhi, Michael Norris and John Masko
In early 2021, BlackRock—the world’s largest asset manager with $9 trillion in assets under management (AUM)—sought to become a leader in promoting environmental and social sustainability. Over the previous ten years, CEO Larry Fink had written an annual open letter to... View Details
Keywords: Impact Investing; Renewable Energy; Climate Change; Environmental Sustainability; Equity; Corporate Social Responsibility and Impact; Financial Management; Investment Funds; Investment Return; Mission and Purpose; Organizational Change and Adaptation; Financial Services Industry; United States
Cole, Shawn A., Vikram S. Gandhi, Michael Norris, and John Masko. "Public Equities Impact Investing at BlackRock." Harvard Business School Case 221-066, April 2021. (Revised July 2021.)
- 2021
- Working Paper
Accounting for Product Impact in the Telecommunications Industry
By: George Serafeim and Katie Trinh
We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the telecommunications industry. We design a monetization methodology that allows us to calculate monetary impact estimates of network... View Details
Keywords: Product Innovation; Impact; Impact Investing; Impact Measurement; ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; Social Corporate Responsibility; Corporate Social Responsibility; Social Impact; Telecommunications; Product Design; Product Positioning; Society; Product; Environmental Sustainability; Measurement and Metrics; Framework; Corporate Social Responsibility and Impact; Telecommunications Industry
Serafeim, George, and Katie Trinh. "Accounting for Product Impact in the Telecommunications Industry." Harvard Business School Working Paper, No. 21-105, March 2021. (Revised May 2021.)
- 2021
- Working Paper
Accounting for Product Impact in the Water Utilities Industry
By: George Serafeim and Katie Trinh
We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the water utilities industry. We design a monetization methodology that allows us to calculate monetary impact estimates of water... View Details
Keywords: Product Innovation; Impact; Impact Investing; Impact Measurement; ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; Social Corporate Responsibility; Corporate Social Responsibility; Social Impact; Water; Utilities; Product Design; Product Positioning; Society; Product; Environmental Sustainability; Measurement and Metrics; Framework; Corporate Social Responsibility and Impact; Utilities Industry
Serafeim, George, and Katie Trinh. "Accounting for Product Impact in the Water Utilities Industry." Harvard Business School Working Paper, No. 21-104, March 2021.
- March 2021 (Revised April 2021)
- Case
Making Impact Investing Markets: IFC (A)
By: Shawn A. Cole, John Masko and T. Robert Zochowski
In 2017, the International Finance Corporation (IFC) faced the first big investment decision in its new Scaling Solar project. Founded in 1956, IFC was an international investment body with national governments as shareholders, whose mission was to promote economic... View Details
Keywords: Impact Investing; Development Economics; Developing Countries and Economies; Renewable Energy; Climate Change; Environmental Sustainability; Borrowing and Debt; Credit; Equity; Bonds; Financing and Loans; Growth and Development; Emerging Markets; Non-Governmental Organizations; Corporate Social Responsibility and Impact; Investment; Decision Making; Financial Services Industry; Energy Industry; Zambia
Cole, Shawn A., John Masko, and T. Robert Zochowski. "Making Impact Investing Markets: IFC (A)." Harvard Business School Case 221-061, March 2021. (Revised April 2021.)
- March 2021 (Revised December 2021)
- Case
Cedar Environmental: Innovation vs. Corruption in Lebanon?
By: Nien-hê Hsieh and Youssef Abdel Aal
The case follows Ziad Abi Chaker, founder and CEO of Cedar Environmental, as he weighs options for how to grow the company in the face of growing economic and political instability in Lebanon in 2019.
Founded after the Lebanese civil war, Cedar... View Details
Founded after the Lebanese civil war, Cedar... View Details
Keywords: Waste Management; Recycling; Corruption; Leadership & Corporate Accountability; Business And Government; Social Entrepreneurship; Environmental Sustainability; Green Technology; Pollution; Entrepreneurship; Business and Government Relations; Crime and Corruption; Technological Innovation; Growth and Development Strategy; Business Strategy; Expansion; Corporate Accountability; Green Technology Industry; Middle East; Lebanon
Hsieh, Nien-hê, and Youssef Abdel Aal. "Cedar Environmental: Innovation vs. Corruption in Lebanon?" Harvard Business School Case 321-114, March 2021. (Revised December 2021.)
- February 2021
- Article
How Transparency into Internal and External Responsibility Initiatives Influences Consumer Choice
By: Ryan W. Buell and Basak Kalkanci
Amid growing calls for transparency and social and environmental responsibility, companies are employing different strategies to improve consumer perceptions of their brands. Some pursue internal initiatives that reduce their negative social or environmental impacts... View Details
Keywords: Sustainable Operations; Corporate Social Responsibility; Operational Transparency; Corporate Social Responsibility and Impact; Operations; Environmental Sustainability; Consumer Behavior; Perception
Buell, Ryan W., and Basak Kalkanci. "How Transparency into Internal and External Responsibility Initiatives Influences Consumer Choice." Management Science 67, no. 2 (February 2021): 932–950.
- 2021
- Chapter
Sostenibilidad y negocios verdes en América Latina
By: Geoffrey Jones
This chapter in the first-ever business history textbook on Latin America examines the impact of modern business enterprise on the natural environment of the region between the 19th century and the present day. It argues that although global capitalism created much... View Details
Keywords: Environment; Business History; Environmental Sustainability; Latin America; North and Central America
Jones, Geoffrey. "Sostenibilidad y negocios verdes en América Latina." Chap. 7 in Historia empresarial en América Latina: temas, debates y problemas, edited by Andrea Lluch, Martín Monsalve Zanatti, and Marcelo Bucheli, 171–194. Bogotá, Colombia: Universidad de los Andes, 2021, Spanish ed.
- January 2021
- Supplement
Bespoken Spirits: Disrupting Distilling
By: Benjamin C. Esty and Daniel Fisher
On October 7, 2020, Bespoken Spirits publicly announced it had received $2.6 million of seed funding for its “sustainable maturation process,” a process that could produce award-winning whiskeys in just days rather than years using a novel technology and data science. ... View Details
Keywords: Business Ventures; Business Strategy; Competitive Advantage; Disruption; Entrepreneurship; Environmental Sustainability; Cash Flow; Disruptive Innovation; Innovation Strategy; Brands and Branding; Business Model; Consumer Products Industry; Food and Beverage Industry; Service Industry; United States; California
- January 2021
- Case
Bespoken Spirits: Disrupting Distilling
By: Benjamin C. Esty and Daniel Fisher
On October 7, 2020, Bespoken Spirits publicly announced it had received $2.6 million of seed funding for its “sustainable maturation process,” a process that could produce award-winning whiskeys in just days rather than years using a novel technology and data science. ... View Details
Keywords: Business Ventures; Business Strategy; Competitive Advantage; Disruption; Entrepreneurship; Environmental Sustainability; Cash Flow; Disruptive Innovation; Innovation Strategy; Brands and Branding; Business Model; Consumer Products Industry; Food and Beverage Industry; Service Industry; United States; California
Esty, Benjamin C., and Daniel Fisher. "Bespoken Spirits: Disrupting Distilling." Harvard Business School Case 721-419, January 2021.