Faculty & Research
Faculty & Research
- April 2017
- American Economic Review
Financing Innovation: Evidence from R&D Grants
By: Sabrina Howell
| Governments regularly subsidize new ventures to spur innovation. This paper conducts the first large-sample, quasi-experimental evaluation of R&D subsidies. I use data on ranked applicants to the US Department of Energy’s SBIR grant program. An early-stage award... |
- November 2025
- Teaching Material
Physical Climate Risk
| Teaching note to support “Physical Climate Risk” Background Note (HBS No. 624-059) |
- 2025
- Nature Communications
Tracking Business Opportunities for Climate Solutions Using AI in Regulated Accounting Reports
By: Shirley Lu, George Serafeim, Simon Xu and MarcAntonio Awada
| The transition to a low-carbon economy offers substantial business opportunities, yet most research focuses on risks. This study develops a metric to identify firms advancing “climate solutions” by applying large language models to 39,710 10-K filings from 4,483 U.S.... |
- November 2025
- Teaching Material
Physical Climate Risk
| PowerPoint Supplement to support the teaching of the Physical Climate Risk note (HBS No. 624-059) |
- October 2025
- Case
Circular Economy at Scale (A): LanzaTech’s Mission to Turn Pollution into Profits
By: Rebecca Karp and Abhiram Karuppur
| On a chilly fall afternoon in Skokie, Illinois, Jennifer Holmgren had a few minutes of time between meetings to stop and reflect. The CEO of LanzaTech, a company dedicated to “recycling carbon with biology,” had, over the last decade, overseen the growth of one of the... |
- October 2025
- Teaching Material
Circular Economy at Scale (B): LanzaTech’s Mission to Turn Pollution into Profits
By: Rebecca Karp and Abhiram Karuppur
| Supplement to the (A) Case, HBS No. 726-412. During the first half of 2025, LanzaTech announced several major strategic and operational developments designed to focus the company’s priorities on the highest-impact opportunities (predominantly related to SAF... |
- October 30, 2025
- Reuters.com
What NZBA's Demise Tells Us About the Usefulness of Climate Alliances
By: Peter Tufano and Matteo Gasparini
- October 2025 (Revised October 2025)
- Teaching Material
Good for the Seller, Good for the Buyer and Good for Society: Sampo-yoshi, Sustainability and Trust at ITOCHU
By: Sandra J. Sucher and Tom Quinn
| Teaching Note for HBS Case 325-053. |
- October 2025 (Revised October 2025)
- Case
OCP Group: Transforming for a Sustainable Future
By: Michael Tushman and Kerry Herman
| In 2025, Mostafa Terrab, Chairman of Morocco mining and fertilizer giant OCP, is assessing his senior leadership team’s progress on collaboration and synergies across his recently decentralized organization and his ambitious decarbonization goals. Terrab committed OCP... |
- October 2025
- Journal of Financial Economics
Measurement and Effects of Bank Exit Policies
By: Daniel Green and Boris Vallée
| We study whether exit policies by financial institutions have financial and real consequences on the firms they target, using bank coal exit policies as a laboratory. In contrast to theories assuming high capital substitutability, we find large effects of these... |
- September 2025
- Teaching Material
WayCool: Reimagining the Food Supply Chain
By: Paul A. Gompers
| Teaching Plan for HBS Case No. 224-011. Founded in 2015, WayCool is an Indian agri-tech start-up that built a B2B operation acquiring fruits and vegetables from product-specific agriculture companies and small-holding farmers. It sold them to business customers, such... |
- 2025
- Book Chapter
How to Lead in the Stakeholder Era: Focus on Purpose and People. The Profits Will Follow
By: Hubert Joly
| The world is clearly facing multifaceted crises, including a societal crisis, an environmental crisis, and rising geopolitical tensions. In the face of these challenges, there is a growing realization that business and society cannot thrive if employees, customers, and... |