The Perspective  

Do you trust ‘the invisible hand’ to guide privately owned, for-profit businesses to care for the environment? If you’re following outspoken environmental influencers, you have probably heard that late-stage capitalism as we know it is using business rules as a license to destroy the planet.  It seems like ‘the invisible hand’ is passing the bill for pollution along to all of us. This must change. People are losing trust in businesses.

For years businesses have prioritized the perpetual growth of revenue generation. This approach has been detrimental to the natural environment at a steady pace since the start of the industrial revolution. Businesses had little consideration for their company’s impacts on the environment or public health. Why? Because it was believed that nature had an endless absorptive capacity. But times have changed. Scientists (and Greta) have told us; we need to change to survive, and there’s no longer any doubt that we need to pay more attention to the natural environment.  

While sneaky marketing campaigns are caught lobbying unsustainable fossil fuel organizations and financial markets fail to properly account for carbon costs, some people are losing trust in big corporations. In a speech on February 19^th, 2013, then-Governor of the Bank of Canada Mark Carney said, “Trust arrives on foot and leaves in a Ferrari…the Ferrari screeched out of the parking lot in 2008.” He was encouraging financial institutions to rebuild the trust of their customers after the devastating crash of 2008. He believed the financial sector could rebuild trust through good practice. His point still applies today. The financial sector, among others, needs to start caring for and investing in the environment.

The Movement 

Younger generations are committed to this movement, yet real and impactful change still seems out of reach. Despite the often-toxic relationship between business and the environment, many students who are passionate about environmentalism still choose to study commerce.  In fact, you’re hearing from two of them right now.

But while business is left with a bad rep, some business students are feeling a little lost and wondering where we start making the changes we want. As we have been taught all through our classes here at Sprott, Business is a versatile discipline that you can use to pursue any passion, including the environment. 

Why not apply your accounting, marketing, supply chain, or any other skills you picked up at Sprott to support the green revolution? Recovering the environment will be an all-hands-on-deck type of movement. Who better to build in environmental sensibility into modern businesses than we students who have a truly vested interest in the future of our world?     

How can Sprott prepare its students to be good change strategists?    

 By educating students about the issues and teaching them the balance and critical thinking that responsible management requires, the Sprott School of Business is equipping students with the knowledge and skills to handle the tough challenges of revamping our business models.

As environmental sustainability becomes fundamental, teaching these concepts is essential for students aspiring to work in any sector. Such a course will prepare students to become leaders in these fields.  

An innovative way to plan and structure a course

Business and Environmental Sustainability II (BUSI 4901) is a new seminar-style course created at Sprott to bring business leaders and students together. Co-taught by Drs. Gary Martin and Ruth McKay, it will be held on Mondays 11:35 am-2:25 pm.  Throughout the 12 weeks of the Fall semester, the course will touch on a variety of sustainability topics relevant to various industries and sectors and the larger issue of regenerative business practices. This course will be entirely online, allowing us to invite speakers from all over Canada and possibly beyond. You can check out the course syllabus here. 

As much as the content itself can create an engaging learning experience, the course format will feature engaging and informative guest speakers who join in discussions and answer questions. This makes for more interesting and memorable learning experiences. Additionally, with weekly guest lecturers and discussions around challenging environmental topics and business initiatives, students will have a unique chance to learn what opportunities lie where sustainability and business intersect. This type of course prepares students to become change-makers in these fields, leaders like the ones students will meet in this class! 

There is so much to address when discussing sustainability. Promising an all-encompassing course would be unrealistic. So how will we choose what to include in our 12-week curriculum?

To figure that out, we are surveying Sprott students to gauge what undergraduate and graduate students know now and what they are interested in learning. The survey will assess students interests and knowledge of 12 industries and sectors and how they intersect with sustainability. Student feedback will inform course speakers and content. We will reach out to business and community leaders from those industries and invite them to speak.

Also keep following our blog see what our research uncovers. And find out who and what will be included in this course!