Ethics, responsibility and sustainability: Risk management

llsms2905  2026-2027  Louvain-la-Neuve

Ethics, responsibility and sustainability: Risk management
The version you’re consulting is not final. This course description may change. The final version will be published on 1st June.
5.00 credits
22.5 h + 7.5 h
Q1
Teacher(s)
Swaen Valérie;
Language
English
Main themes
The course will cover the following key areas:
  • Macrotrends (planetary boundaries as the environmental limits that must not be exceeded, and social foundation as the minimum level of human well-being that must not be fallen below)
  • Understanding Ethics and ERS risks
    • Defining ethics and ERS risks in a business context.
    • Exploring ethical dilemmas related to ERS risks.
    • Identifying major ERS risks (and related macro trends) generated or faced by corporate activities, including environmental degradation, human and labor rights violation, corruption and money laundering, community harm and child labor, emerging risks from disruptive technologies and artificial intelligence.
  • Regulatory and conceptual frameworks
    • Legal frameworks (EU directives, Anti-bribery and corruption laws, Anti-money laundering regulations).
    • International frameworks (OECD guidelines, UN Global Compact and Sustainable Development Goals, ILO conventions).
    • Theoretical frameworks (insights from management science, political economy, game theory, stakeholder theory, and psychology).
  • Corporate governance mechanisms through which companies are directed and monitored to ensure accountability, integrity, and alignment of corporate decisions with ERS considerations:
    • Ownership structure.
    • Board composition and responsibilities.
    • Executive compensation.
    • External accountability mechanisms.
  • ERS risk management tools that companies can or must rely upon to identify, mitigate, put to an end, and remediate those risks:
    • Whistleblowing systems.
    • Codes of conduct.
    • Due diligence processes
    • ESG reporting.
Labels and certification
Learning outcomes

At the end of this learning unit, the student is able to :

1 At the end of this course, students will be able to:
  • Identify and categorize ERS-related risks in corporate contexts.
  • Understand and apply key regulatory, international, and theoretical frameworks governing ERS risks.
  • Evaluate corporate governance mechanisms (e.g., board composition, executive compensation, ownership structures) in relation to their effectiveness in managing ERS risks and ensuring accountability.
  • Design and assess ERS risk management tools, such as whistleblowing systems, codes of conduct, due diligence processes, ESG reporting, and certification schemes.
  • Engage in informed decision-making by integrating ethical reasoning, stakeholder perspectives, and risk mitigation strategies in complex organizational settings.
  • Collaborate with practitioners and peers to apply ERS tools in hands-on activities, bridging theory and practice in risk identification, prevention, and remediation.
  • Reflect on the evolving role of organizations in addressing non-financial risks and contributing to sustainable development through responsible governance and strategic action.
These learning outcomes and the evaluation methods are related to the following competences of the LSM competency framework:
  • Project management.
  • Teamwork and leadership.
  • Communication and interpersonal skills.
  • Personal and professional development.
 
Content
This course focuses on the identification, prevention, mitigation, and remediation of Ethics, Responsibility, and Sustainability risks – commonly referred to as non-financial risks. It provides students with a comprehensive understanding of these risks, the regulatory and theoretical frameworks that govern them, and the corporate governance mechanisms and tools used by companies to manage them effectively.
Students will examine ethical dilemmas that arise when balancing ERS risks with financial considerations and will learn to navigate complex decision-making processes in real-world business contexts. To bridge theory and practice, students will engage with practitioners from NGOs and the service sectors, and participate in hands-on learning activities, including the design and application of tools for ERS risks management.
Teaching methods
The course combines:
  • Academic lectures: Delivered by faculty, grounded in research and institutional reports.
  • Guest lectures from NGO and companies actively engaged in ERS risk management.
  • A list of TV shows and movies related to ERS risks and macro trends that students can watch at their own pace to make the course more immersive.
  • Practical workshops: Students will conduct a due diligence exercise on behalf of a real company, assessing third-party risk exposure and drafting a comprehensive ERS policy.
Evaluation methods
  • Continuous evaluation part (50%): It involves a written report, an oral presentation and a workshop discussion, accounting for 50% of the total grade. This is a collective work, where students are randomly allocated to small teams.
  • Written individual closed-book exam (50%).
Second session : Students with a second session will take a written exam under the same conditions as in the first examination session, except that it will account for 100% of their final grade.
    Online resources
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    Bibliography
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    Programmes / formations proposant cette unité d'enseignement (UE)

    Title of the programme
    Sigle
    Credits
    Prerequisites
    Learning outcomes
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    Master [120] in Management (with work-linked-training)
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    5