General Course Information
1.1 Course details
| Course code: | LLAW6314 / JDOC6314 |
| Course name: | Regulatory Aspects of ESG and Sustainable Finance |
| Programme offered under: | LLM Programme / JD Programme |
| Semester: | First |
| Prerequisites / Co-requisites: | No |
| Credit point value: | 9 credit / 6 credits |
1.2 Course description
The course introduces students to the legal, regulatory and accounting aspects of sustainable finance.
Climate change is one of the most pressing issues faced by this and future generations and bears significant risks for the economy. Sustainable finance plays a crucial role in financing the transition to a sustainable economy and managing climate-related risks. The transition to sustainable finance is increasingly a high-priority business issue for firms, with global bodies and local policymakers rapidly developing initiatives to support and incentivise investment in low-carbon businesses and activities, as well as enable corporates, institutional investors and banks to take account of climate-related risks.
At the same time, Environmental, Social and Governance (ESG) issues are increasingly taking centre stage as institutional investors exert their influence and channel funds towards investments that seek to deliver measurable non-financial benefits along with improved long-term financial returns.
The course will encompass three aspects: (i) governance and strategy, which includes the UN Principles for Responsible Banking, and other major public and private international initiatives focusing on sustainability within the financial sector; (ii) sustainable finance and markets, including approaches to a ESG taxonomy, financing and investing, and the different standards, certifications and principles on financial products (bonds, financial derivatives and loans etc.) as well as approaches to emissions trading; and (iii) sustainable finance and systemic risk, including regulatory approaches (in China, the EU, HK, USA and the Asia Pacific region).
1.3 Course teachers
| Name | E-mail address | Office | Consultation | |
| Course convenor | Angus Young | alyoung@hku.hk | N/A | By email |
Learning Outcomes
2.1 Course Learning Outcomes (CLOs) for this course
CLO 1 Develop necessary legal reasoning and problem-solving skills to discuss controversial issues relating to challenges to the development of sustainable finance relating to the increased complexity and lack of coordination.
CLO 2 Critical knowledge of the sources and evolution of sustainable finance market and regulatory initiatives.
CLO 3 Critical and analytical capacity to confront problems arising from fragmentation in an interdisciplinary way.
CLO 4 Expand critical thinking and autonomous learning skills, to enable students to gain knowledge in an area of considerable commercial interest which will enhance their employability potential in financial services and public authorities.
2.2 LLM and JD Programme Learning Outcomes (PLOs)
Please refer to the following link:
LLM – https://course.law.hku.hk/llm-plo/
JD – https://course.law.hku.hk/jd-plo/
2.3 Programme Learning Outcomes to be achieved in this course
| PLO A | PLO B | PLO C | PLO D | PLO E | PLO F | |
| CLO 1 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| CLO 2 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| CLO 3 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| CLO 4 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Assessment(s)
3.1 Assessment Summary
| Assessment task | Due date | Weighting | Feedback method* | Course learning outcomes |
| Class participation | N/A | 10% | 3 | 2, 4 |
| In-class small groups coursework discussions | TBC | 10% | 3, 5 | 1, 2, 3, 4 |
| Coursework presentation | TBC | 10% | 3, 5 | 1, 2, 3, 4 |
| Take home exam^ | TBC | 70% | 1, 3 | 1, 2, 3, 4 |
^ Students are required to pass the exam to be eligible to pass the course.
| *Feedback method (to be determined by course teacher) | |
| 1 | A general course report to be disseminated through Moodle |
| 2 | Individual feedback to be disseminated by email / through Moodle |
| 3 | Individual review meeting upon appointment |
| 4 | Group review meeting |
| 5 | In-class verbal feedback |
3.2 Assessment Detail
To be advised by course convenor(s).
3.3 Grading Criteria
Please refer to the following link: https://www.law.hku.hk/_files/law_programme_grade_descriptors.pdf
Learning Activities
4.1 Learning Activity Plan
| Seminar: | 3 hours / week for 12 teaching weeks |
| Private study time: | 9.5 hours / week for 12 teaching weeks |
Remarks: the normative student study load per credit unit is 25 ± 5 hours (ie. 150 ± 30 hours for a 6-credit course), which includes all learning activities and experiences within and outside of classroom, and any assessment task and examinations and associated preparations.
4.2 Details of Learning Activities
To be advised by course convenor(s).
Learning Resources
5.1 Resources
| Reading materials: | Reading materials are posted on Moodle |
| Core reading list: | TBA |
| Recommended reading list: | TBA |
5.2 Links
Please refer to the following link: http://www.law.hku.hk/course/learning-resources/