REGISTER BY OCTOBER 20, 2024
FINAL EVENT FEBRUARY 1, 2025
The Alliance for Responsible Capitalism presents a new competition focused on the challenges and opportunities around ESG in the banking sector
The Challenge
Join a new competition co-sponsored by the Erb Institute and Business+Impact at the University of Michigan, designed by the Alliance for Responsible Capitalism.
The Dilemma
How do banks move towards a net zero financial sector while navigating political tensions around ESG?
Banks recognize the material risks of climate change to business, with the potential for tens of trillions of economic losses annually. And their customers report increasing interest in sustainable investing options, such as funds informed by environmental, social, and governance (ESG) performance. However, they face diverging political pressures: calls to accelerate action and new regulatory requirements for transparency on the one hand, and backlash against ESG investing strategies on the other.
But the situation is far from intractable. Rather, because the costs of inaction are so high, we must explore more deeply the aligned interests and values among banks and their stakeholders to identify paths forward. It may even drive us to reevaluate the social contract among business, government, and society in service of a common goal: ensuring opportunities to flourish and prosper for generations to come.
Your Challenge
Design a roadmap for banks to accelerate a sustainable market transformation while effectively managing their stakeholders.
You and your team have been hired as consultants to the CEO of a commercial bank with operations across the US and Europe. You have been tasked with developing a strategy for how the bank might use its influence – in the private sector, on public policy, and with its full range of stakeholders, including regulators and elected officials – to create a business landscape that motivates sustainable behavior. Your client needs an implementable plan that (1) addresses the climate risks posed to the bank and the economy as a whole and (2) manages the business and political risks arising from the bank’s operations in markets with contradictory expectations. You will develop a holistic vision for this market transformation and a robust change management plan that accounts for the challenges and opportunities facing banks today.
Timeline
In the initial round, student teams of 4 will develop written proposals based on the case materials, which include pre-recorded interviews with experts and stakeholders to ESG in banking, as well as independent research.
The top 8-10 teams will then be invited to join the final in-person round at the University of Michigan in Ann Arbor on Saturday, February 1. These teams will also receive feedback from panelists on their proposals, which they will update and present live before a panel of judges representing diverse perspectives from finance, industry, civil society, and academia, followed by an awards ceremony and networking reception.
Prizes
All members of the finalist teams will be invited to a networking reception and dinner with the event judges in conjunction with the final round on Saturday, February 1.
Get Involved
Want to take on the challenge?
Want to help shape the competition by performing banking stakeholder interviews?
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