SOMTU, IIN, UPF-BSM collaborate for sustainable business management programme

KATHMANDU: The School of Management at Tribhuvan University (SOMTU) signed a memorandum of understanding (MoU) with Invest for Impact Nepal (IIN) today. This agreement is for technical assistance in launching the 'Postgraduate Diploma in Sustainable Business Management', a course centred on Environmental, Social, and Governance (ESG) principles.

Previously, on 29 May 2024, SOMTU had signed an MoU with the Universitat Pompeu Fabra – Barcelona School of Management (UPF-BSM) for curriculum development, faculty capacity building, the creation of teaching and learning materials, and academic supervision of the course.

In the current global context, integration of ESG principles is becoming increasingly important. Businesses are expected to operate ethically and sustainably, and adherence to ESG standards is crucial for long-term success and societal progress.

In Nepal, a country highly vulnerable to climate change, the importance of adhering to ESG principles is even more significant. The private sector, particularly the financial sector, has already begun to comply with ESG standards. However, due to considerable gaps in local capacity, there is a growing demand for competent and skilled experts who can navigate the complexities of ESG management. In this regard, SOMTU is committed to developing future leaders, fostering positive change, promoting sustainable practices, and providing students with the knowledge and skills needed to effectively address ESG issues.

"The aim of the course is not merely to promote entrepreneurship and business in the country. This programme will support Nepali businesses and individuals in conducting sustainable business while making contributions to society, the national economy, and the international stage. This comprehensive programme will provide financial support for sustainable development, address environmental and social issues, and cover aspects of good governance," said Prof Dr Dilli Raj Sharma, Dean, Faculty of Management, TU.

Plans are in place to announce student admissions for this programme in November 2024, with classes expected to start in February 2025.