AACSB Cross Campus Collaborations

Cross Campus Collaborations in Sustainability

Association to Advance Collegiate Schools of Business

June 24, 2013

Outline

• George Coelho• The Board Mission• Global Trends in Markets and Sustainability• Trends in Clean Energy Investments• Demand for Sustainability Education• Integrating Sustainability into Higher

Education

June 24, 2013Cross Campus Collaborations in Sustainability

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Disclaimer

• Views may reflect some of the policies and strategy of GWU in some cases

• Not the views of Good Energies• Views will often be my own

3Cross Campus Collaborations in Sustainability

June 24, 2013

George Coelho

• 24 years Technology VC experience in 20 countries

• PCCW, Broadcom, Citrix, Trend, Wonga, Betfair• Intel, Benchmark Europe, Good Energies• Financed Airlines, Utilities, Nuclear, Oil & Gas,

Coal, Renewables, Recycling• Board of Advisors GW School of Business,

Trustee and Chair of Sustainability Committee• KKB AG and Quadia SA


June 24, 2013

Good Energies

• Pioneering Global Renewables investor• Mission driven• Chair for Management of Renewable Energies at

St Gallen University• Major impact on Solar PV industry and finance

for Renewables• Upstream and Downstream• Q-Cells, REC, Trina, Solarfun• Board activities: Tendril, Enecsys, Power Assure,

Alta Devices5

Cross Campus Collaborations in SustainabilityJune 24, 2013


About us

The George Washington University

• Founded in 1821

• Largest institution of higher education in the District of Columbia

• One of the largest private employers in the District of Columbia

• More than 20,000 students

• 10 distinct schools including medicine, law & public health

• Focused on sustainability since 2008

The George Washington University envisions a future with resource systems that are healthy and thriving for all. Our mission

is to be the premier university on policy and governance for sustainable systems through practice, teaching, research, and

outreach.

June 24, 2013

The Board Mission

• Leadership Retreat 2010• Workshops on Energy• Speech to Leadership• Sustainability education

– Students will want it– Parents will demand it– Employers will require it– Donors will need it

• Call from Chairman• Special Committee was Launched!*


June 24, 2013

GWU Sustainability Definition

The George Washington University envisions a future with resource systems that are healthy and thriving for all


June 24, 2013

GLOBAL TRENDS IN MARKETS & SUSTAINABILITY


June 24, 2013

Urbanization & Cities

Cities will drive sustainable development


June 24, 2013

For the first time in history, more than half of humanity -

3.5 billion people live in cities.

95% of urban expansion in the next decades will take place in

developing world.

Cities are economic powerhouses and account for

about 70% of global GDP.

However, urban averages hide deprivation. Cities capture wide

extremes of wealth and poverty - serving as home to

828 million slum dwellers.

More than 200 million urban residents in developing countries gained access to either improved water sources, sanitation facilities, or durable housing in

the past 12 years.

Cities account for 3/4th of the world’s carbon

emissions.

But, on average city dwellers

have a relatively lower environmental footprint.

Urban densities yield many opportunities for low carbon

living.

Cities are at the

front lines of climate change - for example, 75% of urban settlements

are located in coastal areas at risk from

sea level rise. ‐

With stagnation of international climate change discussions,

mayors are taking the lead in fostering

solutions to environmental problems

Source: National Geographic, World Bank, United Nations Millennium Development Report 2012, UNEP. C40


Corporate Sustainability

Integrating sustainability into core business is key

Top corporate sustainability focus areas for the next year include human rights, workers’ rights, climate change and water availability.

Operational energy management is a priority

Earning the public’s trust is a key motivator

June 24, 2013

Source: BSR/Globescan State of Sustainable Business 2012


June 24, 2013

Corporate Sustainability

Most frequent investor inquiries around sustainability

Source: Ernst & Young 2013 Six Growing Trends in Corporate Sustainability


Partnerships

Rise of coordinated multi-sectoral solutions

June 24, 2013

“We must partner with the private sector much more deeply from the start, instead of treating companies as just another funding source for our development work. In short, we must embrace a new wave of creative, enlightened capitalism.”

- Rajiv ShahUSAID Administrator

TRENDS IN CLEAN ENERGY INVESTMENT


June 24, 2013

Investment Activity

Global Total New Investment in Clean Energy

Source: Bloomberg New Energy FinanceNote: Includes corporate and government R&D, and small distributed capacity. Adjusted for re-invested equity. Does not include proceeds from acquisition transactios.

$54bn

$80bn

$114bn

$164bn

$191bn $187bn

$251bn

$302bn

$269bn

48%

43%

45%

16%

-2%

34%

20% -11%

2004 2005 2006 2007 2008 2009 2010 2011 2012


15

2004-12 ($bn)

Investment ActivityClean vs. Fossil-Based Generating Capacity Investment

Source: Bloomberg New Energy Finance, EIANote: Clean energy total excludes large hydro. Fossil fuel is investment on coal and gas capacity. We assume capacity retirement of 3.3%/yr for coal and 4%/yr for gas.

Clean energy

Fossil fuel

0

50

100

150

200

250

300

350

2006 2007 2008 2009 2010 2011 2012


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2006–12 ($bn)

Investment Activity

New Investment in Clean Energy by Sector

Source: Bloomberg New Energy FinanceNote: Total values include estimates for undisclosed deals. Excludes corporate and government R&D. Includes small distributed capacity & adjustment for re-invested equity.

8.6 8.4 7.89.5

11.5

16.512.9

18.419.7

21.721.6

34.0

24.928.4

33.7

46.2

34.0

45.9

41.043.1

26.2

45.745.542.7

46.5

52.255.5

63.3

53.9

71.870.7

58.0

48.0

59.656.6

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

2004 2005 2006 2007 2008 2009 2010 2011 2012

Wind Solar Biofuels Other


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Q1 2004–Q3 2012 ($bn)

Recent Developments

China’s air quality

Beijing12 Jan 2013

993

World HealthOrganisation

Guideline

25Picture credit: Feng Li/Getty Images


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PM2.5 microgrammes per cubic meter

Recent DevelopmentsTop 15 Countries for New Investment in Clean Energy in 2012 and % Change on 2011 ($bn)

Source: Bloomberg New Energy FinanceNote: Excludes corporate and government R&D

2.95

3.42

4.05

4.31

4.41

5.34

5.46

6.19

6.85

8.34

14.71

16.28

22.80

35.58

65.13

-68%

179%

11%

-34%

-23%

-32%

20563%

40%

-45%

-17%

-51%

75%

-27%

-37%

20%

Spain

Greece

Belgium

France

Canada

Brazil

South Africa

Australia

India

United Kingdom

Italy

Japan

Germany

United States

China


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0.1

1

10

100

1 10 100 1,000 10,000 100,000 1,000,000

historic prices (Maycock) experience curveChinese c-Si module prices (BNEF) Thin-film experience curveFirst Solar thin-film module cost

1976

1985

2003

2006

2012 2012

Trends by Sector

PV Experience Curve, 1976-2012 (2012 $/W)

Source: Paul Maycock, Bloomberg New Energy FinanceNote: Prices inflation indexed to US PPI.

MW

PV MODULE PRICES HAVE FALLEN 80% SINCE 2008

20% IN 2012 ALONE


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Trends by Sector

EU Net Capacity Additions (in GW)

Source: EWEA, Bloomberg New Energy Finance,

0

10,000

20,000

30,000

40,000

50,000

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

Other

Gas

PV

Wind


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Trends by Sector

Clean Energy Cost Competitiveness - Africa

Picture Credit: SolarSisterNote: Illustrative figures for cost of 2 lamps plus mobile phone charging, Kenya, 2012

Kerosene$4 per week

Solar PV$1 per week


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Trends by Sector

Average Levelised Cost of Onshore Wind, 1984-2012

14%

1984

1990

20002004

2012

10

50

100

500

100 1,000 10,000 100,000 1,000,000MWNote: Learning curve (blue line) is least square regression:

R2 = 0.88 and 14% learning rate.

WIND TURBINE PRICES HAVE FALLEN 29% SINCE 2008

Source: Bloomberg New Energy Finance, ExTool


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(€/mwh)

Trends by Sector

Evolution of Wind Power

Tehachapi Pass Wind Farm Early 1980s

Post Rock Wind Farm 2012

Photos: Wiki Commons


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Trends by Sector

Improvements in Turbine Technology

Hub height Blade length, blade design Improved component parts

Siting Turbine Control Software Improved Availability


June 24, 2013

Source: Bloomberg New Energy Finance

=

Natural Gasat $6/MMBtu

=

Newcoal

Best Wind

Trends by Sector

Grid-Competitive Clean Energy


June 24, 2013

Trends by Sector

$3 Natural Gas, USA 2013

Picture credits: Tod Baker via Creative Commons; NASA, NOAA, CERES


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You know, we’re making no money. It’s all in the red.

Rex TillersonCEO, Exxon

Trends by Sector

US Natural Gas, 2012


June 24, 2013

Trends by Sector

Lithium-ion Battery Experience CurveEV BATTERY PRICES HAVE FALLEN 40% SINCE 2010

Source: Battery University, MIIT, IIT, Bloomberg New Energy Finance


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Trends by Sector

Numbers of Smart Meters Worldwide



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(in Millions)

Trends by Sector

China Power Capacity Additions by Technology

0

20

40

60

80

100

120

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2020e2030e

Solar

Biomass &WtE

Wind

Hydro

Nuclear

NaturalGas

Coal

Historic Forecast

0

20

40

60

80

100

120

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2020e2030e

Solar

Biomass &WtE

Wind

Hydro

Nuclear

NaturalGas

Coal

Historic Forecast

0

20

40

60

80

100

120

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2020e2030e

Solar

Biomass &WtE

Wind

Hydro

Nuclear

NaturalGas

Coal

Historic Forecast

0

20

40

60

80

100

120

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2020e2030e

Solar

Biomass &WtE

Wind

Hydro

Nuclear

NaturalGas

Coal

Historic Forecast

Source: China Electricity Council, Bloomberg New Energy FinanceNote: Net additions for coal capacity. 2020 and 2030 forecasts are from BNEF’s Global Renewable Energy Market Outlook (GREMO).


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2001-12, 2020e & 2030E (GW)

Trends by Sector

Levelised Cost of Energy Q4 2011 ($/mWh)

Carbon from the BNEF European Carbon Model with an average price of $43/tCO2 to 2020, driven by the rising cost of abatement (largely due to less cheap fuel-switching potential) in Phase IV. Coal and natural gas capex from the US Department of Energy EIA Annual Energy Outlook 2011 and recently announced plants.. US gas: Henry Hub, Japanese: imported LNG, EU: German/UK gas.


0 100 200 300 400 500

Coal firedNatural gas CCGT - US

Natural gas CCGT - EuropeNatural gas CCGT - Japan

NuclearSmall hydroLarge hydro

Geothermal - flash plantMunicipal solid waste

Landfill gasWind - onshore

Biomass - incinerationGeothermal - binary plant

PV - thin filmBiomass - gasification

PV - c-Si trackingBiomass - anaerobic digestion

PV - c-SiSTEG - tower & heliostat w/storage

STEG - parabolic troughWind - offshore

STEG - parabolic trough + storageSTEG - tower & heliostat

STEG - LFRMarine - tidal

Marine - wave

Fossil fuelledFossil fuelled w/CO2 Competitive clean energyBNEF 2011 EUA forecast

Excludes impact of fossil fuel subsidies, health, defence,

environmental impacts, jobs, etc


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Implications 1

Fundamental re-engineering of the world’s energy sector around a more distributed, lower carbon, more secure architecture

• Will cost trillions of dollars

• Will take decades

• Will be supported by government actions

• Will be funded largely by capital markets

• Will create great opportunities and jobs


June 24, 2013

Implications 2

Entering a period of unusual risk, which has to be managed by investors, policy-makers & corporates:

• Rapid technological change

• Old-school utility model is dead

• Policy risk due to fiscal pressures, politics & incumbent capture

• Trade tensions & geopolitics

• Capital markets in flux post crisis; new investors

• Climate as a wild card


June 24, 2013

Implications

Capital requirement to 2030 (in $bn)


June 24, 2013

0

100

200

300

400

500

600

700

2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030

Source: New Energy Finance Global Futures 2008, Bloomberg New Energy Finance

DEMAND FOR SUSTAINABILITY EDUCATION


June 24, 2013


Higher Education & Careers

Demand for sustainability education is growing

June 24, 2013

In a survey of more than 1,300 business professionals conducted by the National Environmental Education Foundation, it emerged that 65% of respondents see

environment and sustainability knowledge as valuable, especially in new hires.

Source: Gullo, K., & Haygood, L. (2010). The business case for environmental and sustainability employee education. National Environmental Education Foundation.

According to the U.S. Bureau of Labor Statistics, the demand for graduates educated in concentrations related to sustainability is expected to increase at least 20% between 2008 and 2018.

Source: Hanover Research. (2011). Embedding sustainability into university curricula. Washington, D.C.: Hanover Research.

In 2009 alone, more than 100 majors, minors or certificates were created in the field of energy and sustainability in colleges across the US, up from just 3 new programs in 2005.

Source: Schmit, J. (2009, December 28). As colleges add green majors and minors, classes fill up. USA Today, Retrieved from http://www.usatoday.com/money/industries/environment/2009-12-27-green-colleges_N.htm


Increasing number of full-time sustainability managers


June 24, 2013

Number of companies with full-time sustainability positions

Source: GreenBiz State of the Profession 2013

1970U.S. Environmental Protection Agency

established

1982United Nations

publishes Brundtland Commission report

1992UN Earth Summit in Rio de Janeiro1989

Exxon Valdez oil spill

1997Kyoto Protocol

adopted

2005Walmart

announces sustainability

goals


Energy managers play an important role


June 24, 2013

Source: GreenBiz State of the Profession 2013

% of companies within industry that view energy managers as critical


Skills students need to be prepared for sustainable business

Team-oriented

Determined commitment

Peripheral vision

Strategic thinker

Systems perspective

Collaborative networker


June 24, 2013

Source: Center for Corporate Citizenship (2010). Leadership Competencies for Corporate Citizenship: Getting to the Roots of Success. Carroll School of Management, Boston College.

Senior sustainability executives in 33 multi-national companies agree on the core leadership competencies for sustainability.

Alumni Spotlight


June 24, 2013

Andrew Seal

Renewable Energy Leadership Program - Associate GE

Jen Boulden

Eco Living Host, Sustainability Expert, Online Media Entrepreneur

Heather Nesle

First VP, Community & Philanthropic Services HSBC

Rachel Goldstein

Global Manager of Scientific and Regulatory Affairs for SustainabilityMars Incorporated

Miranda Ballentine

Director of Sustainability for Renewable Energy and Sustainable Buildings Wal-Mart

David Kirkland

Client Solutions ExecutiveOPower

What would I teach to Business Students?

Energy, Water, Recycling, Food, Transport, Buildings, Urban Planning, Geography

Legal and regulatory environment

Capital Markets, Project Finance, Real Estate and PE/VC

Supply Chain

Technologies, Energy Efficiency/Green Buildings, LEED

Climate Change theory

Consumer trends and demand


June 24, 2013

Where are the jobs?

• Finance– VC/PE– Infrastructure Funds– Investment Banks – Impact Investors

• Start-ups• Corporates, MNCs and Utilities• NGOs• Governments


June 24, 2013

INTEGRATING SUSTAINABILITY INTO HIGHER EDUCATION


June 24, 2013

Higher Education & CareersGrowing corporate interest in sustainability-related scholarship


June 24, 2013


June 24, 2013

A few institutions have degree offerings in

sustainability…

Sustainability Degrees

…Some institutions offer interdisciplinary

programs through joint/dual degree

offerings.

Joint Degrees

Most universities provide elective courses related to sustainability,

and students can customize their degree

programs.

Only Electives

Three paths for sustainability education

Mission: To be the premier university on policy and governance for sustainable systems through research, teaching, practice, and outreach.

Policy and

governance for

sustainable

systemsApproach: Build content across

disciplines and functions.

Vision: The George Washington University envisions a future with resource systems that are healthy and thriving for all.

Sustainability at GW

Focus: Research, teach, and pilot solutions for urban sustainability.


47


Practice

Focus on Climate, Water & Ecosystems

Climate

• Carbon neutrality in 2040 and a 40% reduction across all scopes by 2025 (from 2008 levels)

• GW aims to reach neutrality by reducing its emissions by at least 80% and using credible offsets to negate the remaining emissions

Water

• Achieve a 25% reduction in total potable water consumption over 10 years (from 2008 levels)

• Water policy focus areas include potable water, rainfall capture, waste water and bottled water

Ecosystems

• Addresses GW’s impact and dependence on ecosystem services, and to mitigate risks and seize opportunities.

• Focus areas include increase green space, zero waste, sustainable procurement, on-campus food production

June 24, 2013

Planet Forward• Final count shows

3 million impressions of Twitter hashtag #gwmoving during April 2012 GW Innovation Summit.

• Co-hosted an Energy Policy Forum with Arent Fox in June 2012 featuring U.S. Sen. Lisa Murkowski, R-Alaska, and U.S. Department of the Interior Secretary Ken Salazar.

Clinton Global Initiative U• GW hosted CGI-U

in April 2012, bringing together more than 1,000 students representing 82 countries, and more than 300 universities

• Provided a forum to engage both domestic and international students on the challenges facing the world today

GreenGov• Hosted by GW in

2010 conjunction with the White House

• Brought together various stakeholders to identify opportunities around greening the Federal Government

Solar Institute• Provides technical

advice to federal agencies & advances the conversation on solar investment vehicles

• Hosts an Annual Solar Symposium every year featuring leading experts and policymakers

Outreach

Build on track record of connecting to GW


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Research

Build content based on current strengths

Climate & Energy

June 24, 2013

Curriculum

Sustainability-related Undergraduate Offerings

Columbian College of Arts & Sciences

B.A. in Environmental StudiesB.A. in Geography

B.A. in GeologyB.S. in Chemistry

B.F.A. in Interior Design

School of Engineering and Applied Sciences

B.S. in Civil and Environmental Engineering with a focus on: Environmental EngineeringGeotechnical EngineeringInfrastructure Engineering

Solid Mechanics and Materials EngineeringStructural Engineering

Transportation EngineeringWater Resources Engineering


June 24, 2013

Columbian College of Arts & SciencesM.S. in ChemistryM.S. in EconomicsM.A. in Geography

M.A. in Hominid PaleobiologyM.F.A. in Interior Design

M.A. in Environmental and Resource Policy Ph.D. in EconomicsPh.D. in Geography

Ph.D. in Hominid PaleobiologyPh.D. in Chemistry

Ph.D. in Systematics and Evolution

School of Engineering and Applied SciencesGraduate Certificate in Energy Engineering and Management

Graduate Certificate in Environmental Engineering Graduate Certificate in Geo-environmental Engineering

M.S. in Environmental and Engineering ManagementM.S. in Civil and Environmental Engineering

Dr.S. in Environmental and Engineering ManagementPh.D. in Civil and Environmental Engineering

Elliott School of International AffairsM.A. in International Development Studies (Sustainable Development

Focus)

School of BusinessCertificate Program in Responsible Management

M.T.A. in Sustainable Tourism Destination ManagementM.B.A. in Environmental Policy and Management

M.B.A. with emphasis in Sustainability and Corporate ResponsibilityPh.D. in Business Administration with a specialty in:

Strategic Management and Public Policy (with courses in environmental management and policy), Tourism and Hospitality

Management (with courses in Sustainable Tourism Destination Management)

Law SchoolJ.D. in Environmental Law

L.L.M. in Environmental Law

College of Professional StudiesCertificate in Urban Sustainability

Certificate in Sustainable LandscapesM.P.S. in Sustainable Urban Planning

School of Public Health & Health ServicesM.P.H. in Environmental and Occupational HealthM.P.H. in Environmental Health Science and PolicyDr. P.H. in Environmental and Occupational Health

Curriculum

Sustainability-related Graduate Offerings


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Curriculum

Undergraduate Minor in Sustainability

“The sustainability minor allows students to explore the challenges of sustainability and how it may be used to

develop solutions to pressing issues at the local, regional and global scale. It can supplement any major at GW and is intended to help students develop an understanding about the sustainability of society and environment. We believe

that any student can benefit from the sustainability minor.”

- Dr. Lisa Benton-Short

June 24, 2013

GWSB Philosophy

• The field of sustainability is too broad for a business school to effectively teach it on its own.

• In addition to the functional business areas that are necessary in the sustainability space, individuals also require technical skills from engineering and the sciences; legal knowledge from law and public policy; planning skills from the fields of architecture and design.

• The GWSB philosophy is built around leveraging the rest of the university. It is through our collaborative ties with engineering, arts and sciences, law, and public policy, that we are best able to train students for future careers in sustainability.


June 24, 2013


Curriculum Partnerships

GWSB Joint Degree ProgramsStudents can take a number of degree programs along with the Masters of Business Administration across the university including:

School of BusinessMaster of Science in Finance

Master of Science in Project ManagementMaster of Science in Information Systems Technology

Elliott School of International AffairsMaster of Arts in Asian Studies

Master of Arts in European and Eurasian StudiesMaster of Arts in Global Communication

Master of Arts in International AffairsMaster of Arts in International Development Studies

Master of Arts in International Science and Technology PolicyMaster of Arts in International Trade and Investment PolicyMaster of Arts in Latin American and Hemispheric Studies

Master of Arts in Middle East StudiesMaster of Arts in Security Policy Studies

Law School Juris Doctor

June 24, 2013


GWSB Sustainability Experts

Highlighted Projects: Dr. Griffin is one of the co-founders of the Fourth Capital Network, a consortium of universities, institutions, organizations, and businesses committed to advancing the fields of social entrepreneurship and corporate social responsibility in Egypt and the rest of the Middle East and North Africa.

June 24, 2013

Dr. Jennifer J. GriffinChair and Professor of Strategic Management and Public Policy


Highlighted Projects: Dr. Rivera examines how participation in voluntary environmental certification initiatives is associated with business competitiveness and environmental performance, by studying the case of the Blue Flag Program in Costa Rica.

June 24, 2013

Dr. Jorge E. RiveraAssociate Professor of Strategic Management and Public Policy




Highlighted Projects: Dr. Forrer co-directs the Task Force on Business and Peace with the United States Institute of Peace, which seeks to understand how the various policies, practices and future challenges facing the global business affect peace, and what the private sector can do to promote peace, and avoid fanning conflict.

June 24, 2013

Dr. John ForrerAssociate Research Professor of Strategic Management and Public PolicyAssociate Faculty, Trachtenberg School of Public Policy and Public Administration

Research Centers

Institute for Corporate Responsibility


June 24, 2013

Global Solution Partnerships Initiative

Research Centers

Center for Real Estate and Urban Analysis


June 24, 2013

GWSB Sustainability & Corporate Responsibility

Work with Major Corporations


June 24, 2013


China Operations


June 24, 2013


Partnership with the District of Columbia


June 24, 2013

Taking It ForwardMake sure you “walk the talk”

Get the Trustees/Administration/Schools on your side

Have a Strategy and execute on it


June 24, 2013

GW Institute of Sustainability

• Decided on a new GW Institute to bring together all of our various efforts

• Fully Tenured professor with a start-up package

• Director will have carte Blanche to create and take the University forward, no path foreclosed

• Recruiting efforts launched


June 24, 2013

Report card

• Good progress on Committee and Trustee/Administration/Deans support, goals

• Undergraduate Minor fast launch and strong reception

• More Multidisciplinary programs needed such as Business/Legal/Engineering

• Disparate efforts urgently need to be brought together by new Director

• Strong academics scarce in this field


June 24, 2013

Acknowledgements

• Meghan Chapple-Brown• Doug Guthrie• Ridhima Kapur• Michael Liebreich/Bloomberg New Energy

Finance


June 24, 2013

Q&A


June 24, 2013

AACSB Cross Campus Collaborations

Education

sustainability source

sustainability trends

markets sustainability

cross campus collaborations

gwu sustainability definition

urbanization cities

clean energy source

board mission global