MBA Major

ESGB: Environmental, Social and Governance Factors for Business

Starting in the 2023-2024 academic year, Wharton MBA students can declare a major in Environmental, Social and Governance Factors for Business (ESGB).

The major in Environmental, Social and Governance Factors for Business (ESGB) is designed to provide in-depth foundations for those interested in the complex relationships between business and the natural environment and business and society more broadly, including management of environmental, social, and governance (ESG) risks and opportunities, the business and economics of energy, and the ways in which firms incorporate ESG factors into their governance.

There is a strong need for a new generation of expert business leaders who understand the rapidly evolving trends in business models, technology, regulation, and financing with implications for the environment and society as a whole. Students choosing the ESGB major are therefore ideally suited for the ever-expanding set of careers in many fields. Relevant courses are offered by departments including Accounting, Business Economics and Public Policy, Finance, Legal Studies and Business Ethics, Management, Marketing, and Operations Information and Decisions.

Major Requirements

The ESGB major is fulfilled by completing 4.0 credit units (cu) of coursework from the following list of courses approved for the major.

Environmental

  • ACCT/BEPP 7640 – Climate and Financial Markets
  • BEPP / OIDD 7610 – Risk Analysis and Environmental Management
  • BEPP/OIDD 7630 – Energy Markets and Policy
  • FNCE 756 – Energy Finance
  • LGST 8150 – Environmental Management: Law & Policy
  • LGST 6470 – The Business & Governance of Water
  • LGST/OIDD 7620 – Environmental Sustainability & Value Creation
  • MGMT 7990 Sustainability Strategy (new course by Nicolaj Siggelkow starting Fall 2022)
  • MGMT 8970 – GMC on Sustainability (in Germany) (by application)
  • OIDD 5250 – Thinking with Models

Social & Governance

  • ACCT 7470 – Financial Disclosure Analytics
  • BEPP 7700 – Public Finance & Policy
  • BEPP 7650 – Economics of Diversity
  • FNCE 7540 – Impact Investing
  • FNCE 8020 – Corporate Governance and Shareholder Activism
  • LGST 6410 – Business Enterprise
  • LGST 6420 – Big Data Big Responsibility
  • LGST 6430 – Other People’s Money
  • LGST 8020 – Corporate Law and Management in Global Perspective
  • LGST 8080 – Employment Law
  • LGST 8200 – International Business Ethics
  • LGST 8300 – Social Impact and Responsibility
  • MGMT 7200 – Corporate Diplomacy
  • MGMT 6240 – Leading Diversity in Organizations
  • MGMT 6250 – Corporate Governance
  • MGMT 7860 – Reforming Mass Incarceration and the Role of Business
  • MGMT 8120 – Social Entrepreneurship
  • MGMT 8970 – Impact Hack
  • MKTG 7330 – Marketing for Social Impact
  • REAL/FNCE/BEPP 7300 – Urban Fiscal Policy

Recommended courses to supplement the ESGB major

LGST 613: Business, Social Responsibility, and the Environment

In addition to courses that count for credit toward the ESGB Major for MBA students, we encourage but do not require MBA students majoring in ESGB to take LGST 613: Business, Social Responsibility, and the Environment (.5 cu). This course does not count toward the four required credit units for the major in ESGB, but can be taken to fulfill students’ core Legal Studies and Business Ethics requirement. This course focuses on the social and environmental responsibilities of business.

ESG Analytics

For MBA students especially interested in ESG analytics, we note that while the STAT Department does not have courses that count toward the four required credit units for the major, the following courses may be of special interest:

  • STAT 4100X – Data Collection and Acquisition
  • STAT 4220 – Predictive Analytics
  • STAT 4230 – Applied Machine Learning in Business
  • STAT 4240 – Text Analytics
  • STAT 4350/5350/7110 – Forecasting Methods for Management
  • STAT 4420X – Introduction to Bayesian Data Analysis
  • STAT 4700/5030 – Data Analytics and Statistical Computing
  • STAT 4710/5710 – Modern Data Mining
  • STAT 4750 – Sample Survey Design
  • STAT 4770X – Introduction to Python for Data Science
  • STAT 4810X/5810X – Convex Optimization for Statistics and Data Science
  • STAT 4900/5900 – Causal Inference

Questions?

If you are a current Wharton student, contact Sara Jane McCaffrey at mcsa@wharton.upenn.edu.

If you are interested in applying to Wharton, contact the MBA Admissions Office at mba-admiss@wharton.upenn.edu or +1.215.898.6183.

Additional Information

This major is jointly administered by the Business Economics and Public Policy Department, the Legal Studies and Business Ethics Department, and the Management Department. The faculty advisors to this major are Professors Arthur van Benthem (BEPP), Witold (Vit) Henisz (MGMT), and Sarah E. Light (LGST).

Get Involved with the ESG Initiative

At the ESG Initiative, we are committed to creating transformational opportunities for students. We offer a robust set of student programs and resources to match your interests in ESG and business. Conduct ESG investment research. Join a community of like-minded peers. Consult on real-world projects through a selective fellowship. Attend speaker series and networking events. Apply for funding for unpaid internships. And more.