From Classroom ESG to Real-World Practice

This semester, I am working on a practicum project in sustainable finance that looks at how stock exchanges around the world encourage companies to report on environmental, social, and governance (ESG) issues. I was drawn to this project because it sits at the intersection of sustainability and financial markets, helping improve how companies disclose ESG information. Before this project, I had heard a lot about ESG in classes and internships, but I had not fully considered the role stock exchanges play in shaping corporate transparency. Through this experience, I am starting to see that exchanges are not just marketplaces for trading shares—they can also influence corporate behavior by guiding what companies report and how transparent they are.

Our team is reviewing sustainability reporting guidance issued by exchanges in different countries and comparing how they approach ESG topics. Some guidance documents are very detailed and practical, while others are more high-level. Looking across countries, it is interesting to see how priorities differ depending on local regulations and market maturity. The goal of our project is to learn from these real-world practices and suggest ways to make sustainability guidance more user-friendly and useful for companies and investors. What makes this project feel especially real is that our work is expected to be evidence-based, similar to a consulting project, rather than just academic discussion.

Before coming to SIPA, I interned with a professional management consulting team, where I was first exposed to ESG-related policy and corporate governance research. My work focused on large state-owned energy companies and multinational firms, looking at governance structures and industry practices across China and other countries. Although the context differs from my current project, that experience shaped how I think and work today. I learned how consultants break down complex information, identify what really matters, and turn research into structured outputs.

That internship also taught me the importance of details—how a well-organized table can make analysis clearer, how consistent formatting in documents and slides improves communication, and how structure helps teams work more efficiently. Now, in this practicum project, I find myself drawing on those same skills. When reviewing sustainability guidance documents, I try to quickly extract key points, compare patterns across cases, and present information in a clear and organized way. I see this project as a chance to further develop a consulting-style mindset while working on sustainability issues that I care about.

Though we have not yet had our first live meeting with the client, as the team’s coordinator I have been in regular email contact and helping relay questions and updates. Currently our team is reviewing exchange-issued sustainability guidance documents to build a general understanding of current practices. This early stage has shown me how real-world projects feel compared to classroom assignments. There is more ambiguity, and not every step is clearly predefined, which requires us to be proactive and comfortable with some uncertainty. At the same time, we built a detailed workplan to keep our efforts structured.

Working in a small team has also been meaningful. Each member brings different strengths, from planning and research to presentation design. Through this process, I have rediscovered my own strengths in asking questions, thinking ahead, and keeping communication flowing. Recognizing our differences has helped us divide tasks strategically and appreciate each person’s contribution. And of course, collaboration is not always smooth. We are all balancing multiple commitments, and decision-making can take time. Since none of us are native English speakers, we sometimes spend extra effort making sure our wording is precise and professional. But I see these obstacles as part of learning to work in an international and collaborative environment. We are becoming more aware of our team dynamics and actively supporting one another to produce strong work.

Looking ahead, I see this project as more than a course assignment—it is a chance to understand how sustainability and finance connect in real market settings. Observing how exchanges guide ESG reporting helps me see sustainable finance in practice, not just in theory. This experience is also pushing me to think more critically about what information matters and how to turn research into practical recommendations. In many ways, this practicum is helping me move from thinking like a student toward thinking more like a practitioner, which feels like a meaningful step forward.