Green and sustainable finance is a core component of business studies at Prince Mohammad Bin Fahd University in Saudi Arabia
Students at Prince Mohammad Bin Fahd University (PMU) have the opportunity to be at the forefront of research and teaching in sustainable and green finance, with initiatives at the university promoting awareness of green banking and sustainable stock market practices.
Green finance encompasses the funding of projects aimed at generating positive environmental effects, including the advancement of renewable energy sources. Similarly, sustainable finance integrates environmental, social and governance factors into investment strategies to foster enduring economic expansion, social progress and environmental well-being.
Bassem Nasri, chair of PMU’s College of Business Administration, emphasises how important sustainability is to the university. “Our vision is to be a higher education institution that has a transformative impact on society through sustainable innovation in education, research and creativity,” Nasri says.
PMU’s location in the Kingdom of Saudi Arabia is also a great benefit to students. With the nation committing to sustainability goals in its Saudi Vision 2030 programme and its involvement in the Middle East Green Initiative, there is plenty of scope for faculty and students to work alongside organisations that are dedicated to sustainable development in the region.
PMU has introduced courses on sustainable development under the university’s core curriculum, covering principles of sustainable development, energy consumption and environmental impact. The course design includes field activities, a sustainability fair and awareness campaigns to educate PMU students about sustainable development.
PMU has active engagements with the business community and has formed agreements and partnerships with industry leaders to support the university’s commitment to sustainability. For example, PMU has a partnership agreement with Fintech Saudi to help digitalise the finance industry and reduce carbon emissions from the sector.
PMU also collaborates with global universities to support sustainability. In 2023, the university introduced new postgraduate programmes in engineering management and innovation, sustainability and entrepreneurship, in partnership with the University of Arizona, which has established a microcampus at PMU.
PMU has faculty members who are research leaders in sustainability and encourages students and faculty to engage in research projects related to green finance. The university’s College of Business Administration offers a state-of-the-art finance lab, including a Bloomberg Terminal and a terminal for the international stock exchange. PMU encourages extracurricular activities, such as finance clubs and stock market competitions, in line with global sustainability initiatives.
Nasri says that to enhance the research culture at PMU, the university encourages both postgraduate and undergraduate students to undertake research projects. In 2024, the College of Business Administration established the Sustainability and Competitiveness Research Centre, which will focus on organising research initiatives and activities for students in finance and sustainability.
The university organises an entrepreneurship competition every semester with sustainability as one of the major rubrics. The last semester’s winner was “a start-up that manufactures toys made of environmentally friendly materials, as well as games that teach children sustainability awareness”, says Nasri. Initiatives like this contribute to PMU’s success in working towards the United Nations’ Sustainable Development Goals and its rise to the top 101-200 in the Times Higher Education Impact Rankings 2023.
Nasri observes that educating students on sustainability practices has an effect on employability. “We have noticed that the employability of our graduates keeps increasing year after year. We attribute this to the ongoing updating of our programmes and curricula while observing the latest trends and what’s happening around us locally, regionally and internationally, green finance being one of our priorities.”
Find out more about Prince Mohammad Bin Fahd University.
