The Financial Importance of Environmental, Social and Governance Ratings ESGfinalytics is an HEC Liège - Management School project that addresses issues related to the impact of companies on the environment. How does nonfinancial or ESG information influence financial theory, in particular the risk-return balance on financial markets? What is the quality of ESG data and ratings in decision-making? What are investors’ preferences for sustainable investment products and their level of understanding of the information currently available? These are just some of the issues addressed by this project. Practical Guides from the Smart City Institute Every year since its inception, the Smart City Institute (SCI) at HEC Liège - Management School has published a practical guide on governance and the importance of collaboration between stakeholders in sustainable and intelligent transition processes. The SCI’s collection of Practical Guides is intended to provide food for thought for those working in the field on key subjects identified by target audiences as central to their approach to sustainable and intelligent transition (in particular via barometers). FIND OUT MORE Climate Change Risk and Ambiguity: An Analysis of the Reaction of Financial Markets to Central Bank Communications The main objective of this HEC Liège - Management School project is to measure the information on the risk and ambiguity of climate change contained in the speeches of central bankers around the world. The second objective is to study the reaction to this information of the share prices of companies located in several countries. Finally, this project will analyse the effect of the European Central Bank’s communications on climate change on the credit spreads of corporate bonds located in several countries around the world. Piedboeuf Chair in Extrafinancial Performance of SMEs In Belgium, SMEs make up 99% of companies. The Piedboeuf Chair at HEC Liège has been set up to address the extra-financial performance of SMEs. The research programme aims to develop a sustainability management tool for SMEs, built around the framework offered by the 17 SDGs. This Chair marks a strong and necessary commitment both to our society and to the companies themselves. FIND OUT MORE Development and Optimisation of a Method for Producing Nanoparticles on an Industrial Scale using Supercritical Fluid Technology The pharmaceutical industry is looking to develop new, more environmentally-friendly production methods that save time and money, while reducing waste. The Faculty of Medicine’s Pharmaceutical and Biopharmaceutical Technology Laboratory is innovating and optimising new eco-responsible manufacturing methods for pharmaceutical products, including hot extrusion, additive manufacturing techniques (3D printing) and the use of CO2 in the supercritical phase (intermediate behaviour between the liquid and gaseous states). FIND OUT MORE 35 | ACTIVITY REPORT SUSTAINABLE DEVELOPMENT AT ULIÈGE | 2022 – 2023
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