Climate change is one of the world’s most pressing issues. According to the United Nations, the global average temperature is approximately 1.2 degrees Celsius higher than in the pre-industrial era, with the last decade signaling the warmest on record. While the increase might seem small, one change kickstarts an alarming chain reaction—causing prolonged droughts, rising sea levels, intense heat waves, and catastrophic storms.
“Climate change is one of the world’s biggest societal challenges,” says Harvard Business School Professor Forest Reinhardt, who teaches the online course Business and Climate Change alongside HBS Professor Mike Toffel. “Companies will have to play an active role if we, as a society, are to have any realistic hope of managing the challenges presented by climate change. At the same time, though, firms won’t be able to manage these challenges on their own.”
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DOWNLOAD NOWTo drive change, organizations must evolve their business practices and take a more purpose-driven approach; investors must incorporate environmental, social, and governance (ESG) factors into decision-making; and consumers must leverage their buying power and make more socially conscious purchases.
Educating yourself is an effective first step if you want to be part of the change. HBS Online offers three courses that can enable you to make sustainability a priority in your personal and professional life: Sustainable Business Strategy, Business and Climate Change, and Sustainable Investing. Here’s a comparison to help you decide which best suits your goals.
Course Comparison: Sustainable Business Strategy vs. Business and Climate Change vs. Sustainable Investing
Sustainable Business Strategy
Sustainable Business Strategy is a three-week online course taught by HBS Professor Rebecca Henderson that equips you with the knowledge and tools to become a purpose-driven leader. You’ll explore what businesses can do to help solve society’s biggest problems, including climate change and income inequality, and why collective efforts matter.
In the course, you learn how to:
- Identify and analyze business models that drive change
- Communicate the competitive advantages of being purpose-driven to organizational leadership and key stakeholders
- Examine the broader environmental, political, and social landscape in which you operate, including the role of government, investors, and customers
“I now have a better understanding of sustainability and which companies are doing it right,” says Brooks Wallace, a public relations professional who took the course to learn about sustainable business practices. “I’m armed with talking points proving that sustainability is good for business, the environment, and its people.”
Related: What Does “Sustainability” Mean in Business?
Sustainable Business Strategy is best suited for you if you’re:
- An early- or mid-career leader who wants to influence others using a values-driven approach in the for-profit or nonprofit space
- A professional who wants to drive strategy and become a purpose-centered leader
- A consulting professional who must articulate the business case for sustainability to help your clients achieve their corporate social responsibility (CSR) goals
- A leader or an entrepreneur interested in making a difference by integrating values into your strategy without sacrificing profit
Business and Climate Change
While Sustainable Business Strategy references climate change, Business and Climate Change provides a comprehensive deep dive. This five-week course, co-taught by Reinhardt and Toffel, will teach you to identify and communicate climate risks and opportunities and implement relevant strategies.
In it, you learn how to:
- Understand climate change’s science, economic impact, and policy implications
- Leverage insights from real-world examples to inform future strategies for adapting to climate change
- Think critically and creatively to develop business solutions that mitigate climate change
- Explore climate change mitigation and adaptation efforts’ scalability, costs, and benefits
Related: Listen to Professor Reinhardt discuss climate change and the tragedy of the commons on The Parlor Room podcast, or watch the episode on YouTube.
“Wherever you are in your career, we hope this course will help you gain a fundamental understanding of how climate change affects businesses, how businesses affect climate change, and the role businesses—and society—can play in adapting to and mitigating the effects of climate change,” says Toffel in Business and Climate Change.
This course is best suited for you if you’re:
- A business professional or manager working in an industry affected by climate change who must rethink their organization’s strategy
- A CSR, strategy, or operations professional interested in developing creative solutions to mitigating climate change
- An entrepreneur who wants to develop new climate change-oriented initiatives
- An investor interested in financing ventures dedicated to tackling climate change
Sustainable Investing
Another program to consider is Sustainable Investing. It’s a six-week course taught by HBS professors Shawn Cole and Vikram Gandhi that helps you evaluate ESG factors and measure and manage impact investments.
In Sustainable Investing, you learn how to:
- Apply frameworks to measure and monitor sustainable investment opportunities
- Analyze cutting-edge implementation strategies
- Identify investment opportunities' inherent climate risks and how to integrate those into financial models
- Think critically about how and where to add value while avoiding “impact washing”
“I believe sustainable investing is going to be at the forefront of all finance projects,” says Sustainable Investing past participant Akanksha Davera. “The course content is well designed and helps investors get a basic understanding of what sustainable finance is, its challenges, the path forward, and its key players.”
Related: What Is Sustainable Investing?
Sustainable Investing is best suited for you if you’re:
- An investment professional interested in learning how to evaluate, measure, and manage sustainable investment opportunities
- An entrepreneur or operator with a finance background who wants to manage and grow your investment capital
- A consultant or government, business, or nonprofit leader looking to gain frameworks and analytical tools to make future financial decisions that serve your clients’ or organization’s goals and objectives
- An early-career professional who wants to develop practical skills you can apply to one of finance’s fastest-growing fields
The HBS Online Learning Experience
No matter which course you choose, you’ll gain access to a world-class learning experience featuring:
- World-class faculty
- Self-paced online coursework
- Engaging, interactive content
- Social interaction with fellow learners
- Real examples of business challenges faced by experts
- The HBS Online Community, a global network of business professionals
- Career growth and a positive return on investment
Through HBS’s signature case method, you’ll be introduced to business leaders from around the world in a range of industries. They’ll share real scenarios they’ve faced integrating sustainability into their business practices. As their stories unfold, you’ll collaborate with peers and apply course frameworks and concepts to determine how you’d solve each challenge so you’re prepared when it surfaces in your organization.
This method of real-world learning pays off: In a City Square Associates survey, 42 percent of learners said their HBS Online course helped increase their salary by an average of $17,000—representing a 10-times return on investment. In addition, 31 percent earned a promotion, 36 percent made a career change, and 16 percent earned an average bonus of $14,000.
Choosing the Right Course for You
Climate change makes headlines daily. The need for purpose-driven business professionals who can combine purpose and profit to tackle this pressing global issue has never been greater.
Take the first step toward meeting that demand by exploring Sustainable Business Strategy, Business and Climate Change, and Sustainable Investing.
If interested in all three, consider taking a Learning Track to earn an advanced certificate. By completing all three courses within 18 months, you’ll receive a Certificate of Specialization in Business in Society—signaling to employers your deep commitment to professional growth, lifelong learning, and making profound societal change.
Get started today. Explore Sustainable Business Strategy, Business and Climate Change, Sustainable Investing, and our other business in society courses. Download our free flowchart to determine which is right for you.
