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Formation | 2008 |
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Founder | Sir Martin and Lady Smith |
Purpose | Education and Research |
Location |
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Director | Professor Mette Morsing |
Parent organization | University of Oxford |
Website | www |
The Smith School of Enterprise and the Environment (also known as the Oxford Smith School) is an interdisciplinary research centre of the University of Oxford that focuses on teaching research, and engagement with businesses and enterprises for long term environmental sustainability. The Oxford Smith School was established with the vision of a net-zero emissions future alongside achieving the Sustainable Development Goals, supported by a sustainable global economic and financial system. The school has a broad profile of research, teaching, enterprise engagement, and partnerships to support this vision.
The Smith School is part of the School of Geography and the Environment, University of Oxford.
Much of the Oxford Smith School’s work is multi-disciplinary and draws on a wide range of collaborators across Oxford University. Several academic staff hold joint appointments or are affiliated with other parts of the university including the School of Geography and Environment, the Saïd Business School, the Institute of New Economic Thinking, the Department of Biology, the Department of Economics, the Faculty of Law, and the Oxford Martin School.
The Oxford Smith School was founded through a benefaction from the Smith Family Educational Foundation and officially opened in 2008. [1] From 2008 to 2012, Professor Sir David King, the then outgoing Chief Scientific Adviser to the UK Government and Head of the Government Office for Science, served as the founding director of the Smith School, followed by Professor Gordon Clark from January 2013 to October 2018, a pioneer of research showing how sustainability can drive financial outperformance, [2] and Professor of climate economics Cameron Hepburn from October 2018 – October 2023. The current director is Professor Mette Morsing , formerly of the UN Global Compact – the world's largest corporate sustainability and corporate social responsibility initiative.
The Smith School conducts research in various disciplines including finance, enterprise, economics, and law, with a collective focus on thinking about public and private sector decision-making and sustainable development. Particular research focuses within these disciplines include biodiversity, climate, energy, food, regenerative economy, and water.
A critical contribution of the Oxford Smith School has been to frame the narrative of climate change and environmental concerns into the language of risk for enterprises and governments. Concepts such as stranded assets developed by Dr Ben Caldecott help make these risks concrete and guide sustainable finance and climate-aware decision-making across public and private sector entities.
The School led the development of the Oxford Offsetting Principles, which are considered industry gold-standard [3] and contributes to global understanding of net zero, the clean energy transition, [4] and sustainable cooling. [5]
During the Covid-19 crisis the Smith School engaged heavily with topics of Green Economic Recovery, co-leading the Oxford University Economic Recovery Project which has engaged over 20 governments and international institutions such as the IMF, the WTO, the World Bank and the United Nations Environment Programme. [6]
The School’s Sustainable Law Programme has been engaged by leading environmental lawsuits such as Lliuya v RWE AG to test legal responses to climate change.
Since 2015, the REACH programme has been working with government, UNICEF, academic institutions, private sector and civil society partners to improve water security for 10 million people in Africa and Asia. [7]
The Smith School offers a range of undergraduate and graduate courses in the School of Geography and the Environment, which was the highest-ranked Geography department in the world in 2023 by QS World University Rankings [8] and Times Higher Education. [9] Its MSc course in Sustainability, Enterprise, and Environment was one of the most applied-to graduate course at the University of Oxford in 2021. [10] The School also offers executive education programs across online and in-person formats on a variety of topics relevant to sustainability leadership and the net-zero transition.
In 2024, the Smith School’s excellence was recognised through the following awards:
The Smith School hosts the annual ‘Oxford World Forum’, which brings together leaders, entrepreneurs, and civil society representatives to explore pathways for climate action. Previous speakers include Bill Clinton, Mikhail Gorbachev, Mohamed Nasheed, Ellen MacArthur, Al Gore, and Steven Chu.
Academics at the Smith School include Cameron Hepburn, Ben Caldecott, Doyne Farmer, Radhika Khosla, and Sam Fankhauser.
The Smith School runs ‘Business Fellows’ and ‘Advisory Board’ programmes which bring together leading thinkers from the business world who are helping to shape their company and industry response to the challenges of achieving net zero emissions and sustainable development goals. Past and present members include:
The United Nations University (UNU) is the think tank and academic arm of the United Nations. Headquartered in Shibuya, Tokyo, Japan, with diplomatic status as a UN institution, its mission is to help resolve global issues related to human development and welfare through collaborative research and education.
Energy is sustainable if it "meets the needs of the present without compromising the ability of future generations to meet their own needs." Definitions of sustainable energy usually look at its effects on the environment, the economy, and society. These impacts range from greenhouse gas emissions and air pollution to energy poverty and toxic waste. Renewable energy sources such as wind, hydro, solar, and geothermal energy can cause environmental damage but are generally far more sustainable than fossil fuel sources.
Sir David Anthony King is a South African-born British chemist, academic, and head of the Climate Crisis Advisory Group (CCAG).
Imperial College Business School is the graduate business school of Imperial College London. The business school was established in 2003 and officially opened by Queen Elizabeth II. The school fosters an entrepreneurial culture by integrating business disciplines with a science-based curriculum. It offers a range of courses, including MBA programmes, Master's programmes, PhD programmes, and executive education. According to the 2023 QS MBA Rankings, Imperial's MBA programme is ranked third in the world for career specialisation in entrepreneurship. In the 2021 Research Excellence Framework, the business school is ranked second in the UK for business and management studies.
Myles Robert Allen is an English climate scientist. He is Professor of Geosystem Science in the University of Oxford's School of Geography and the Environment, and head of the Atmospheric, Oceanic and Planetary Physics Department.
Calestous Juma was a Kenyan scientist and academic, specializing in sustainable development. He was named one of the most influential 100 Africans in 2012, 2013 and 2014 by the New African magazine. He was Professor of the Practice of International Development and Faculty Chair of the Innovation for Economic Development Executive Program at Harvard Kennedy School. Juma was Director of the School's Science, Technology and Globalization Project at Harvard Kennedy School as well as the Agricultural Innovation in Africa Project funded by the Bill and Melinda Gates Foundation.
Andrew (Andy) John Hoffman is a scholar of environmental issues and sustainable business. He is the Holcim (US) Professor of Sustainable Enterprise at the University of Michigan, with joint appointments at the Ross School of Business and the School for Environment and Sustainability (SEAS). He has also served as Faculty Director and Associate Director of the Frederick A. and Barbara M. Erb Institute for Global Sustainable Enterprise, and as Education Director at the Graham Sustainability Institute. Prior to the University of Michigan, he completed a post-doctoral fellowship at the Kellogg School of Management at Northwestern University and served on the faculty of the Boston University School of Management.
Sustainability metrics and indices are measures of sustainability, using numbers to quantify environmental, social and economic aspects of the world. There are multiple perspectives on how to measure sustainability as there is no universal standard. Intead, different disciplines and international organizations have offered measures or indicators of how to measure the concept.
Sustainability is a social goal for people to co-exist on Earth over a long period of time. Definitions of this term are disputed and have varied with literature, context, and time. Sustainability usually has three dimensions : environmental, economic, and social. Many definitions emphasize the environmental dimension. This can include addressing key environmental problems, including climate change and biodiversity loss. The idea of sustainability can guide decisions at the global, national, organizational, and individual levels. A related concept is that of sustainable development, and the terms are often used to mean the same thing. UNESCO distinguishes the two like this: "Sustainability is often thought of as a long-term goal, while sustainable development refers to the many processes and pathways to achieve it."
The UK Energy Research Centre (UKERC) carries out interdisciplinary research into sustainable future energy systems. Its whole systems research programme addresses the challenges and opportunities presented by the transition to a net zero energy system and economy.
The United Nations Environment Programme Finance Initiative is a partnership between the United Nations Environment Program (UNEP) and the global financial sector to catalyse action across the financial system to align economies with sustainable development. As the UN partner for the finance sector, they convene financial institutions on a voluntary basis to work together with them, and each other, to find practical solutions to overcome the many sustainability challenges facing the world today. UNEP FI does this by providing practical guidance and tools which support institutions in the finance sector to find ways to reshape their businesses and commit to targets for limiting greenhouse gas emissions, protecting nature, promoting a circular economy and supporting financial inclusion to address inequality. The solutions developed effectively form a blueprint for others in the finance sector to tackle similar challenges and evolve their businesses along a sustainable pathway. The creation and adoption of such a blueprint also informs policy makers concerned with sustainability issues about what would constitute appropriate regulation for the finance sector at large. Founded in 1992, UNEP FI was the first organisation to pioneer engagement with the finance sector around sustainability. The Finance Initiative was responsible for incubating the Principles for Responsible Investment and for the development and implementation of UNEP FI's Principles for Responsible Banking and Principles for Sustainable Insurance as well as the UN-convened net-zero alliances. Today, UNEP FI provides sustainability leadership to more than 400 financial institutions, with assets of well over $80 trillion headquartered around the world.
Stranded assets are "assets that have suffered from unanticipated or premature write-downs, devaluations or conversion to liabilities". Stranded assets can be caused by a variety of factors and are a phenomenon inherent in the 'creative destruction' of economic growth, transformation and innovation; as such they pose risks to individuals and firms and may have systemic implications. Climate change is expected to cause a significant increase in stranded assets for carbon-intensive industries and investors, with a potential ripple effect throughout the world economy.
Ben Caldecott is a British expert in sustainable finance, and founding director of the sustainable finance programme at the University of Oxford Smith School of Enterprise and the Environment. and a supernumerary fellow at Oriel College. Caldecott is also the founding director of the UK Centre for Greening Finance & Investment (CGFI), established by UK Research and Innovation in 2021 as the national centre to accelerate the adoption and use of climate and environmental data and analytics by financial institutions internationally. He is a Trustee of the Green Alliance.
Janelle Knox-Hayes is a Professor of Economic Geography in the Department of Urban Studies and Planning at the Massachusetts Institute of Technology. Her research and teaching explore the institutional nature of social, economic and environmental systems, and the ways in which these are impacted by changing socio-economic spatial and temporal dynamics.
Cameron Hepburn is the former Director of the Smith School of Enterprise and the Environment, the Battcock Professor of Environmental Economics at the University of Oxford, and formerly a professor at the London School of Economics and Political Science. He is also the Director of the Economics of Sustainability Programme at the Institute for New Economic Thinking at the Oxford Martin School.
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