Climate Change and the World Economy

Why is climate change important?

Climate change is an ever-increasing existential crisis which has led governments, corporations, communities and individuals to rethink their practices and put into place new policies, initiatives and routines to address global warming.

However, can popular tools such as carbon offsetting, emissions trading, ‘sustainable’ smartphones and corporate social responsibility (CSR) strategies really make an impact on reducing global temperature rises to 1.5°C above pre-industrial levels, the target limit set out in the 2015 Paris Agreement, to prevent the worst effects of climate change? How should businesses evaluate the risks and opportunities of climate change and its mitigation to ensure their long-term resilience and success?

About the module

The Climate Change and its impact on the World Economy module is an elective module available to 3rd year Business Management students, designed to answer these questions, plus many more. This module is unique in its multifaceted approach, analysing the economic effects of climate change through the lenses of science, technology, politics and law.

This module takes a critical view of existing actions and proposed solutions to tackle climate change and requires students to challenge conventional wisdom and to confront their own biases on issues such as economic vs. green growth, corporate greenwashing and carbon pricing. Furthermore, this module provides students with a deeper understanding of the links between climate change and associated resource scarcities with systematic oppression, human rights and social justice.

Climate change is the most urgent and potentially catastrophic threat facing the world, with harmful social, environmental, economic and political consequences. The effects of climate change will increasingly disrupt and restructure industries and national and international economic relations, therefore this module is essential for all business management students who are passionate about the environment and social justice and seek the knowledge and tools to revolutionise the world of business in a way that is socially responsible and environmentally sustainable.

Bayes Business School is a UN PRME Member institution. This is recognition that we have a commitment to developing and sharing best practice in responsible management education (RME).

This is a crucial module for business students to take as it reshapes one’s investment philosophies. Professor Bobby Banerjee does a great job of showing unique, indigenous ways of thinking from around the world which has completely reshaped my worldview. The discussions around those sciences have made me more critical of our ways of thinking and have made the questions I ask in discussions more meaningful.

Rocky Gudaitis, BSc Business Management student

Student testimonials