| Statuss(Aktīvs) | Izdruka | Arhīvs(0) | Studiju plāns Vecais plāns | Kursu katalogs | Vēsture |
| Course title | Sustainable and Responsible Finance for Business |
| Course code | EkonM015 |
| Credit points (ECTS) | 4 |
| Total Hours in Course | 108 |
| Number of hours for lectures | 8 |
| Number of hours for seminars and practical classes | 24 |
| Number of hours for laboratory classes | 0 |
| Independent study hours | 76 |
| Date of course confirmation | 23/10/2024 |
| Responsible Unit | Institute of Economics and Finance |
| Course developers | |
| Dr. oec., prof. Irina Pilvere |
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| There is no prerequisite knowledge required for this course | |
| Course abstract | |
| In the study course, students gain a deeper understanding of the policies implemented in the European Union (EU) (Cohesion Policy, Regional Policy, Common Agricultural Policy, etc.), which provide support measures for attracting investments for sustainable business development in Latvia. Students gain a broader understanding of the theoretical and practical aspects of the support system in Latvia, which changes in each seven-year planning period of the EU budget.
The study course aims to provide students with theoretical and empirical knowledge and competencies about the possibilities of creating a strategy for attracting EU funds for sustainable and socially responsible business development. |
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| Learning outcomes and their assessment | |
| Knowledge:
•In-depth knowledge of EU policies and their implementation of financial instruments (funds) and support measures for the sustainable development of companies - presentations, analysis, and study of the regulatory acts, literature, discussions in classes, and independent work. •Expanded knowledge of EU financial instruments (including European Regional Development Fund (ERDF), European Social Fund (ESF), Cohesion Fund (CF), European Agricultural Fund for Rural Development (EAFRD), European Agricultural Guarantee Fund (EAGF), etc.), their regulatory framework, attraction and implementation process, and support conditions. Control work, written test. •Demonstrating an in-depth understanding of the investment project preparation and implementation process for company sustainable development and the entrepreneur's social responsibility. Practical work, independent work. Skills: •Able to use the acquired theoretical knowledge and information on the attraction of sustainable financing in preparing an investment project - practical and independent work (preparation of an investment project application for the attraction of EU funding). •Able to find and analyse information to navigate EU policies and financing instruments for company sustainable development, actively participate in discussions and argue questions about complex aspects of EU policy - information analysis, discussions during classes, and independent work. •Can evaluate the EU funds opportunities to provide and attract sustainable funding – control work, written test. General skills: •Responsible for planning and fulfilling assigned tasks – practical and independent work. •Can search for information and analyse - independent work to prepare a presentation. •Able to get involved and discuss and express their opinion during the lessons about sustainable and responsible finance in investment connection – discussion during the lessons. Competence: • Based on theoretical and empirical knowledge, a strategy can be conceptually developed and created to attract EU funds for investments in sustainable and socially responsible business development. |
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| Course Content(Calendar) | |
| Lectures
1.The concept and nature of sustainable investments, compliance with the principles of sustainable development, types and sources of sustainable investment, environmentally friendly projects, socially responsible investments, and environmental, social, and management criteria (2 hours). 2.Cohesion and regional policy for sustainable business development. EU financial instruments: ERDF, ESF, CF. Development of financial instruments, goals, and priorities; support measures for sustainable development and horizontal principles. Implementation stages of investment projects (2 hours). 3.Common agricultural policy: The two pillars' characteristics and their relation to sustainable development; the EAFRD, its main support measures, available funding; the regulatory framework and priorities for sustainable development; and horizontal principles; rural development policy and implementation stages of investment projects from idea to monitoring (2 hours). 2.Direct payments system in agriculture for sustainable business development. EAGF, area payments, and their types for sustainable development. Field Register and maps. Survey and inspections. Environmental and sustainability criteria and their provision (2 hours). Independent and practical works 1.Implementing EU Cohesion and regional policy in Latvia (4 hours). Conduct research on available support measures for sustainable business development in the ERDF and CF, prepare a presentation part (1/2) on one support measure (different for each student), and present it to the group, focusing on the sustainability and social responsibility aspects of that support measure. 2.Implementing EU social and employment policy in Latvia (3 hours). Investigate available support measures for sustainable business development in the ESF. Prepare a presentation part (1/2) on one support measure (different for each student) and present it to the group, focusing on its sustainability and social responsibility aspects. 3.Control work on the EU Cohesion, Regional, and Social Policy system, regulatory framework, financing, and support measures for sustainable business (1 hour). 4.Preparation of the investment project application or the company's sustainable development in one of the EAFRD support measures for rural development (10 hours). Get acquainted with the regulatory framework for investment project preparation, evaluation, implementation, and monitoring. Creates a possible investment idea and determines its compliance with sustainability criteria, valid planning documents, and regulatory enactments. Prepare an investment project for your idea, defining the principles of its implementation, support activities, and schedule. In the investment project, the necessary financial calculations and achievable results are prepared, implementation risks are assessed, and the project's sustainability and environmental impact are assessed. 4.Implementation of EU rural development policy in Latvia (2 hours). Get acquainted with support measures for sustainable development in the EAFRD. Prepare a presentation part (1/2) on one support measure (different for each student) and present it to the group, focusing on a specific support measure's sustainability and social responsibility aspects. 5.Implementation of EU agricultural policy in Latvia (4 hours). Get acquainted with support measures for sustainable business in the EAGF. Prepare a presentation part (1/2) about one direct payment support measure or horizontal conditions for their receipt (different for each student) and present it to the group, focusing on aspects of sustainability and social responsibility in a specific support measure. |
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| Requirements for awarding credit points | |
| Exam. Cumulative rating consisting of:
• Control work on the EU Cohesion, Regional and Social Policy system and support measures for sustainable business development - 20%; • Preparation of an investment project application for receiving funding from EU funds to improve the company's sustainability (submitted in writing within the time limit) – 30%; • Practical work, resulting in the two presentations (on EU Cohesion, Regional (1/2) and Social Policy (1/2), as well as EU Common Agricultural Policy - Rural Development (1/2) and Direct Payments (1/ 2)) – 10% (5% for each presentation); • A written test, which takes place during the exam, on the EU's Common Agricultural Policy and its support measures for rural development and agriculture for sustainable business development - 40%. The first three assignments must be completed during the semester, and the last must be completed during the session. |
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| Description of the organization and tasks of students’ independent work | |
| Research of study course materials, legal and regulatory documents, and literature sources in preparation for the control work on the EU Cohesion, Regional, and Social Policy and the written test on the EU Common Agricultural Policy for sustainable business development, preparing the investment project.
Literature study and analysis, preparing presentations on the EU Cohesion, Regional, Social Policy, and the EU Common Agricultural Policy. Learning course materials, primary and additional literature. |
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| Criteria for Evaluating Learning Outcomes | |
| The overall evaluation of the study course exam depends on the performance of all tasks provided. This assessment consists of a cumulative assessment of the study course, including control work, presentations, a prepared investment project, and a written test.
A student can get a successful assessment for the control work if 50% of the questions are answered correctly. A student can successfully be evaluated for the written test if at least 50% of the test questions are answered correctly. Presentations are evaluated positively if submitted and presented within the specified time. The grade is reduced by 50% if the presentation is submitted but not presented. The preparation of the investment project submission is evaluated with a 100% rating if the document is prepared in the time allotted and completely and correctly filled out. The rating is reduced by 50% if the investment project is not submitted within the time provided. |
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| Compulsory reading | |
| 1.Clark, G. L., Feiner, A., & Viehs, M. (2015). From the Stockholder to the Stakeholder: How Sustainability Can Drive Financial Outperformance. Oxford University Press. Pieejams: https://arabesque.com/research/From_the_stockholder_to_the_stakeholder_web.pdf
2.European Commission. EU Taxonomy for Sustainable Activities. Pieejams: https://finance.ec.europa.eu/sustainable-finance/tools-and-standards/eu-taxonomy-sustainable-activities_en 3.Roncalli Th. (2024). Handbook of Sustainable Finance. Pieejams: http://www.thierry-roncalli.com/download/HSF.pdf 4.LATVIJAS NACIONĀLAIS ATTĪSTĪBAS PLĀNS 2021.–2027. GADAM. Pieejams: https://likumi.lv/wwwraksti/LIKUMI/NAP/NAP2027.PDFhttps://likumi.lv/wwwraksti/LIKUMI/NAP/NAP2027.PDF |
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| Further reading | |
| 1.Eiropas Savienības fondu 2021.—2027. gada plānošanas perioda vadības likums. Pieejams: https://likumi.lv/ta/id/331743-eiropas-savienibas-fondu-2021-2027-gada-planosanas-perioda-vadibas-likums
2.Eiropas Savienības struktūrfondu un Kohēzijas fonda vadības likums. Pieejams: https://likumi.lv/ta/id/153465-eiropas-savienibas-strukturfondu-un-kohezijas-fonda-vadibas-likums 3.Eiropas Savienības kohēzijas politikas programma 2021.–2027.gadam un no tās izrietošie normatīvie dokumenti. Pieejams: https://www.esfondi.lv/normativie-akti-un-dokumenti/2021-2027-planosanas-periods/eiropas-savienibas-kohezijas-politikas-programma-2021-2027-gadam 4.Latvijas Kopējās lauksaimniecības politikas stratēģiskais plāns 2023.-2027.gadam un no tā izrietošie normatīvie dokumenti. Pieejams: https://www.zm.gov.lv/lv/latvijas-kopejas-lauksaimniecibas-politikas-strategiskais-plans-2023-2027gadam 5.Ilgtspējīgas attīstības stratēģija Latvijai līdz 2030. gadam (Latvija 2030). Pieejams: https://www.mk.gov.lv/lv/latvijas-ilgtspejigas-attistibas-strategija?utm_source=https%3A%2F%2Fwww.google.com%2F 6.Latvijas Klimata politikas pamatnostādnes 2021.-2050.gadam. Pieejams: https://ppdb.mk.gov.lv/wp-content/uploads/2024/05/II-sejums_Planosana_ELLE.pdf 7.Latvijas Nacionālais enerģētikas un klimata plāns 2021.–2030. gadam. Pieejams: https://likumi.lv/ta/id/312423-par-latvijas-nacionalo-energetikas-un-klimata-planu-20212030-gadam 8.ES fondu mājas lapa. https://www.esfondi.lv/ 9.Centrālās finanšu un līgumu aģentūras mājas lapa. https://www.cfla.gov.lv/ 10.LR Zemkopības ministrijas mājas lapa. https://www.zm.gov.lv/lv 11.Lauku atblasta dienesta mājas lapa. https://www.lad.gov.lv/lv 12.Latvijas investīciju un attīstības aģentūras mājas lapa. https://www.liaa.gov.lv |
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| Periodicals and other sources | |
| 1.Dienas Bizness, nedēļas laikraksts: Latvijas biznesa avīze. iBizness, Rīga: Izdevniecība iŽurnāli. Pieejams: https://ibizness.lv/ 2.AS “Attīstības finanšu institūcija Altum” mājas lapa. https://www.altum.lv/pakalpojumi/biznesam/ | |
| Notes | |
| Academic Master's study programme "Sustainable Finance" | |