June 20 is World Refugee Day, designated by the United Nations to honor refugees around the globe and to celebrate the strength and courage of those forced to flee their home countries to escape conflict or persecution. By the end of 2023, UNHCR estimated that over 117 million people were forcibly displaced worldwide due to persecution, conflict, violence, human rights violations, and climate shocks, often a combination of these factors. Notably, nearly 32 million new internal displacements were due to climate-related hazards, highlighting the urgent need to address this issue. It is high noon for us to step up, reach out, engage with this diverse talent pool, and unlock their true potential.
HEC Paris Professors Laurence Lehmann Ortega and Hélène Musikas have been working together for over 15 years on a business framework they call Odyssey 3.14. This strategy helps companies better invest in business models that promote innovation and sustainability. The result is a book which entered its third edition in September, entitled “(Re)invent Your Business Model with Odyssey 3.14”. The two academics describe the three pillars and 14 directions which have evolved significantly in the past decades.
We interviewed Quentin Rouyer, the Founder and CEO of Alternative Café, a trailblazing fair-trade coffee importer and distributor. Through its unique model of importing directly from producers and advocating for in-country roasting, Alternative Café is revolutionizing the coffee industry's approach to sustainability. From its renowned World Coffee Challenge to its commitment to empowering growers, Alternative Café's innovative practices are reshaping the coffee sector while promoting social and environmental responsibility.
This special edition of the Knowledge@HEC review focuses on the Earth’s planetary boundaries. The issue highlights HEC Paris' approach toward organizational, environmental, and societal challenges linked to the nine planetary boundaries within which humanity can develop for generations to come. The review showcases research and initiatives aimed at informing and empowering businesses, policymakers, and future leaders. We highlight the multidisciplinary approaches in the school's research, teaching, and action, inviting HEC Paris students, graduates, professors, entrepreneurs, and donors to share their visions of a more sustainable future. "Aligning Business with Planetary Boundaries" will be officially launched at the HEC Climate Day on May 22. Meanwhile, you can find the pdf here.
At HEC Paris, the integration of research, teaching, and action is a fundamental philosophy that we embody. In today's dynamic landscape, where environmental and social challenges are increasingly prominent, HEC serves as a beacon of innovation and responsibility. As Europe's leading business school, we acknowledge our responsibility to guide future leaders in navigating the complexities of a world in flux.
HEC Paris undergoes a transformative shift in its curriculum. Building on its legacy of sustainability initiatives, the institution now prioritizes planetary boundaries and societal impact. The updated curriculum emphasizes sustainability integration and student empowerment for real-world impact. This reflects HEC's dedication to nurturing leaders prepared to address modern challenges.
Millions of consumers, employees and investors are seeking to align their purchases, jobs and investments with their values. They want transparency and clear understanding of the brands they consume, work for, and invest in to be able to verify how they are contributing to sustainable development. Amid such a growing, unparalleled scrutiny, companies are increasingly held responsible for their business behavior, notably their environmental and social footprints. Yet there is one impact that is rarely discussed, as it remains hidden to the public eye. This is the ‘political footprint’ companies leave behind through the exercise of corporate political activities, be it lobbying or political contributions, and which often contradicts companies’ public statements.
By Alberto Alemanno
The past six years have seen an exponential leap in student engagement going well beyond the classroom. Arguably, this came to public attention in 2018 when HEC Paris students joined representatives from France's most prestigious schools and universities in calling for radical change, called the "Manifeste étudiant pour un réveil écologique" (Student Manifesto for an Ecological Awakening). So far, it has been signed by over 34,000 students. Then there was Anne-Fleur Goll's June 2022 graduation speech that concluded with a plea to tackle climate change from within the system. This drew a standing ovation and created quite a media stir.
Despite environmental, social, and governance (ESG) funds gaining popularity, their impact on reducing negative externalities, such as greenhouse gas emissions, may be limited if not approached strategically. In our study, entitled “Responsible Finance: How to Optimize Impact,” forthcoming in the Review of Financial Studies, we show that investment capital could actually influence the behavior of more highly polluting companies to drive positive change for the planet.
By Stefano Lovo , Augustin Landier
How will the world look in 10 or 20 years? How can we chart new paths to create value while preserving or even enhancing the balance of the Earth and human life conditions? What role can businesses play in shaping desirable futures? Established in 2009 as a pioneering entity within HEC Paris, the Sustainability & Organizations (S&O) Institute is an interdisciplinary organization fostering a community of researchers, business leaders, organizations, and individuals deeply committed to serving human and planetary well-being. Thoughtful reflection, innovative experimentation, multi-stakeholder dialogue, and evolving pedagogy are at the core of our approach.
