News story 25th Jun 2015

Monash alumnus rubs shoulders with royalty

A recent leadership meeting in the United Kingdom has seen a Monash Business School alumnus meet with His Royal Highness The Prince of Wales.

The event, hosted by London Business School and convened by The Prince's Accounting for Sustainability Project (A4S) and the University of Cambridge Institute for Sustainability Leadership (CISL), aimed to encourage business schools to incorporate accounting for sustainability in their MBA and research programs.

Professor Stephen Brown meeting HRH

Professor Stephen Brown (BEc (Honours) 1972), who was recently announced as the new executive editor of the Financial Analysts Journal  (FAJ), said the Prince felt it was important that business schools did more to prepare MBA students to be effective business leaders in a world facing significant environmental challenges.

"The Prince stressed that business leaders of the future would be facing even greater social and economic challenges ahead. These challenges are posed by issues such as climate change, growing inequality and resource constraints," Professor Brown said.

"He suggested that business schools had a vital role in the creation of resilient business models and a sustainable economy. He was delighted to hear such thoughtful discussions on the role that business schools have in supporting the creation of resilient business models and a sustainable economy.  

"The practical actions that can be taken to embed sustainability into mainstream accounting and finance research and teaching were also discussed."

The audience, which also included leading business school ranking organisations, deans and leading academics from around the world, discussed the barriers to making changes. Also in discussion were the tools and methodologies needed to embed sustainability into mainstream accounting and finance research, as well as teaching within business schools.

Professor Brown said the Prince challenged business schools to do more to prepare MBA students during the meeting.

"He challenged current business school students – and those who are deciding where to study – to ask themselves if their chosen business school was really going to equip them to be the kind of leader that was going to be so badly needed for the next 50 years," Professor Brown said.

In addition to his role as executive editor of FAJ, Professor Brown is currently the David S. Loeb Chair of Finance at New York University Stern School of Business. In early 2016 he will join the Department of Banking and Finance in Monash Business School. He will spend four months each year at Monash while transitioning to emeritus status at New York University Stern School of Business where he will be spending the remainder of the year.