Exploring the Intersection of Finance and Environmental Impact at Brown University
At Brown University, a unique course is reshaping the way students perceive the relationship between finance and environmental issues. ENVS 1547, also known as Finance and the Environment, delves into the potential of financial markets to drive positive change for the environment. Although not a traditional economics course, it offers insights that are bridging gaps between finance and ecological concerns.
The Power of Finance
For Tiffany Kuo ’26, this course was a revelation. Unlike other economics classes, it provided a real-world perspective on how financial mechanisms like green bonds and climate regulations can contribute to environmental solutions. “The financial market is one of the most powerful tools in the world,” Kuo reflects, highlighting the course’s ability to ground theoretical knowledge in practical reality.
Adjunct Professor Ricardo Bayon ’89, the course’s creator, emphasizes the influential role finance plays in environmental change. As the founder of Encourage Capital, a firm dedicated to “impact investment” with a focus on environmentalism, Bayon aimed to show students the potential of finance as a catalyst for “positive social change.”
Developing the Course
Bayon’s journey to developing Finance and the Environment began about three years ago, in collaboration with Brown students Kobi Weinberg ’20 and Cristian Olander Echavarria ’22. Both students had interned at Encourage Capital, which informed the course’s curriculum. The class combines foundational finance concepts with case studies exploring financial tools in environmental contexts.
Bayon explains the course’s objective: “The attempt was to have a class that would be good for people who have never had exposure to finance… to show them why they should have an interest in it.” This approach is essential, as Kuo points out, because “In order for these [environmental] projects to get funding and really become a project that can make a change, they need money.”
Engaging with Experts
The course incorporates guest speakers and panel discussions to engage students with real-world applications of finance in environmental contexts. Teaching assistant Naemi Ditiatkovsky ’25 notes that students have the opportunity to interact with industry professionals who are actively working on the issues discussed in class. Topics covered range from ESG (Environmental, Social, and Governance) considerations to climate regulation.
For Emma Amselem Bensadon ’24, a session on regulation and carbon markets was particularly impactful. She explored the ongoing debate about carbon credits with panelists, appreciating the perspective that, while not perfect, these solutions are developing and warrant improvement rather than dismissal.
Demand for Unique Insights
The course’s innovative approach has seen a rise in student interest, often reaching enrollment limits previously set at around 40 students. “We had a huge uptick in applications,” Ditiatkovsky shares, indicating a growing demand for educational experiences that combine business acumen with environmental awareness.
The course aims to fill a crucial gap in understanding between the business and climate sectors, striving to create a new cohort of individuals who can effectively navigate and influence both worlds. As Ditiatkovsky puts it, “There are not enough people in the middle, and I’m hoping that with this course, Brown can bridge that.”
Original Story at www.brownalumnimagazine.com