Supporting ESG education, research and entrepreneurship is a core part of the Candriam Institute’s identity. By financing academic chairs and PhD research in key sustainability themes, the Institute contributes to the transition to a more resilient and inclusive society. Our partners in Belgium, Vlerick Business School and UCLouvain, have been highly active in the past year! What topics are in their radar? Let’s discover them.
Closing Data Gaps on Scope 3 Emissions with Vlerick Business School’s Sustainability Centre
While reducing global GHG (Greenhouse Gas) emissions is central to the fight against climate change, analysing scope 3 emissions presents significant challenges for investors, as these emissions occur both upstream (suppliers) and downstream (distribution, product use, end-of-life management). Companies often face obstacles such as the lack or incompleteness of supplier-specific emissions factors and the absence of a standardized GHG reporting framework, making it difficult to establish consistent baselines and compare disclosures across peers.
Scope 3 emissions have long been considered one of the most difficult areas for companies to measure and manage. Thanks to the support from Candriam, we have advanced academic research on Scope 3 emissions, exploring new ways to overcome data limitations and strengthen future approaches to emissions accounting.
Candriam’s support is twofold: the Candriam Institute has been sponsoring a doctoral research grant at Vlerick Business School since 2021, while Candriam ESG teams have provided access to essential emissions data, enabling the research team to ground their theoretical models in real-world insights. This collaboration has led to the submission of an interdisciplinary research paper to a peer-reviewed journal, with a publication expected at the end of the year.
This research, conducted by the Sustainability Centre at Vlerick Business School, Ghent University, and KU Leuven, frames Scope 3 emissions as a network problem. Rather than relying on limited or estimated data points, the approach leverages the structural information of a company’s supply chain, along with the Scope 1 and Scope 2 emissions of the suppliers within it.
Through this research, Candriam is contributing to building the foundations for the next generation of Scope 3 accounting methodologies, empowering companies to take more decisive and credible climate action.
At UC Louvain, a Focus on Circular and Regenerative Economy
Led by our other Belgian partner UCLouvain, the Chair on Circular and Regenerative Economy has been equally productive.
Josep Oriol Izquierdo Monfort and Yves de Rongé co-wrote and submitted, or are ready to submit, three papers:
- "Circular Business Model Innovation: Uncovering practices and patterns to retain the value of resources"
- "Exploring the Diversity of Circular Business Models: Towards a Classifier-Centric Approach" – a paper presented in three conferences in Spain and in the UK, and winner of no less than two Best Paper awards!
- "Mapping of Circular Economy Strategies in the USA and their Impact on Financial Performance", a collaboration with other researchers.
Josep Oriol Izquierdo Montfort at the New Business Models Conference 2024
These papers form the core of the PhD dissertation of Josep Oriol Izquierdo Monfort, held publicly last February.
Moreover, members of the Chair have participated in various initiatives, notably as members of the Jury to select circular economy projects to be financed in the program “Belgium Builds back Better”. Add to this workshops (Circular Wallonia) and media interviews including the well-known RTBF! The Chair was also invited to present its research to the Québec Circular Economy Research Network, sharing knowledge across the Atlantic.
Several Candriam employees also gave talks to the UC Louvain master students, highlighting the close ties forged between Candriam and the University over the years.
Pushing the boundaries of innovation
The Candriam Institute’s academic partnerships are instrumental in advancing research and innovation in ESG and sustainability. Through collaborations with top-level Business Schools and Universities, the Institute seeks to empower companies and investors to take more decisive and credible climate action. We look forward to continuing these partnerships and driving further progress in the years to come.
Stay tuned for updates on the Kedge BS-Candriam Chair, “Finance Reconsidered”!
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