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ESG is Here to Stay: Padova Multidisciplinary Summer School on Corporate Sustainability 2024

ESG is Here to Stay: Padova Multidisciplinary Summer School on Corporate Sustainability 2024

Historischer Innenhof der Universität Padua mit Säulen und verzierten Fassaden, beleuchtet von Sonnenlicht.

From 23 to 27 September 2024, the "Multidisciplinary Summer School on Corporate Sustainability" took place at the University of Padua, addressing a wide range of issues concerning the impact of ESG on the economy and society. The University of Liechtenstein was represented in Padua with lectures by Prof. Dr. Alexandra Butterstein, LL.M., and Prof. Dr. Francesco A. Schurr.

 

Under the guidance of internationally renowned academics and experts, participants had the opportunity to engage deeply with transnational and interdisciplinary ESG topics, which are closely aligned with the 17 United Nations Sustainable Development Goals.

 

In her lecture, Prof. Alexandra Butterstein thoroughly examined various questions concerning the fiduciary powers of trustees in the context of trusts. Her presentation addressed the challenges and opportunities arising from the integration of social and environmental aspects into trustees’ investment decisions. Prof. Butterstein emphasized that increasing pressure from new generations of beneficiaries, as well as global challenges such as climate change, call for an expanded interpretation of fiduciary duties—one that incorporates ethical considerations alongside traditional financial objectives. She also provided recommendations and behavioral guidelines, supported by relevant case law, to justify responsible and sustainable decision-making.

 

Prof. Francesco A. Schurr also delivered a lecture, focusing on the EU Directive 2022/2464 on Corporate Sustainability Reporting (CSRD) and its current practical implications. He explained that the directive strengthens the requirements for reporting on social and environmental matters, aiming to protect both shareholders and stakeholders. Moreover, the CSRD is also relevant for non-EU companies generating more than €150 million in the EU market, highlighting the need for a global approach to sustainability reporting. Prof. Schurr further pointed out the legal risks of greenwashing and recommended strategies for accurate reporting and stronger stakeholder engagement.

 

The subsequent discussions following the lectures by Prof. Butterstein and Prof. Schurr explored selected aspects of their respective topics in greater depth, including specific features relevant to Liechtenstein. Overall, the University of Padua's Summer School offered participants a valuable opportunity to gain insights into the latest international developments in corporate sustainability and to actively contribute to the exchange of ideas on potential solutions.

 

Historischer Innenhof der Universität Padua mit Säulen und verzierten Fassaden, beleuchtet von Sonnenlicht.

Prof. Dr. Bernhard Burtscher Appointed Professor of Banking and Financial Market Law

Prof. Dr. Bernhard Burtscher Appointed Professor of Banking and Financial Market Law

Ein Mann in Anzug und Krawatte steht lächelnd in einem modernen Gebäude mit großen Fenstern.

As of October 1, 2024, Prof. Dr. Bernhard Burtscher will officially assume the Professorship of Banking and Financial Market Law after a successful term as acting professor.

 

Prof. Dr. Bernhard Burtscher has been serving as acting professor at the Chair of Banking and Financial Market Law at the Liechtenstein Business Law School since April 1, 2023.

 

His previous professional experience includes positions at the Supreme Court in Vienna and as an assistant professor at the Vienna University of Economics and Business. His research focuses on banking and insurance law, with his habilitation project dedicated to payment services law.

 

Bernhard Burtscher is originally from the region and was already affiliated with the Chair of Banking and Financial Market Law at the Institute for Business Law as a postdoctoral researcher from 2019 to 2020. He was awarded the Liechtenstein Prize by the Government of the Principality of Liechtenstein in 2020, and even prior to his appointment, he was a lecturer in banking law for the LL.M. in Banking and Financial Market Law and a regular speaker at the University of Liechtenstein.

 

Ein Mann in Anzug und Krawatte steht lächelnd in einem modernen Gebäude mit großen Fenstern.

Children and cybersecurity: New Erasmus+ project at the University of Liechtenstein

Children and cybersecurity: New Erasmus+ project at the University of Liechtenstein

Eine Gruppe von sieben Personen steht vor einem Gebäude mit dem Schriftzug "Universität Liechtenstein". Sie halten ein Banner mit der Aufschrift "Erasmus+ Neue Perspektiven, Neue Horizonte".

Nowadays, children are exposed to the dangers of the internet at a very early age. There is therefore an urgent need to develop suitable didactic tools for teaching cyber safety to young people. The new Erasmus+ project ‘KidCy’ at the University of Liechtenstein, led by Dr Irdin Pekaric and Prof Dr Pavel Laskov at the Hilti Professorship for Data and Application Security, is addressing this issue.

 

Nowadays, entry into the digital world begins at a young age. Exciting games, funny videos, later social contacts, online shopping and even their own accounts - children already master a wide range of digital applications and technologies with impressive naturalness, which have a significant influence on their private and later also their professional lives.

 

The security risks to which children are exposed on the internet range from social phenomena such as bullying and damage caused by fraudulent messages or apps to threats to their physical safety through communication with strangers. Dealing with such risks has long been a concern for parents, teachers and socio-educational services. However, the problems are complex and require technical as well as social and educational measures.

 

The new Erasmus+ project ‘KidCy’ at the University of Liechtenstein, led by Dr Irdin Pekaric and Prof. Dr Pavel Laskov at the Hilti Professorship for Data and Application Security, is concerned with developing a new curriculum that includes suitable didactic tools for teaching cyber security to children. The aim of the project is to first research children's self-perception of cyber security and link it to the known risks in order to develop suitable teaching methods and teaching materials on this basis.

 

At the first project meeting on 26 and 27 September 2024, researchers from Liechtenstein, Norway, Austria, Lithuania and the Czech Republic met at the University of Liechtenstein to discuss the planning and design of the first steps of this ambitious project. The results are to be presented to stakeholders in the school system and social services in the Rhine Valley region as early as 2026.

 

Eine Gruppe von sieben Personen steht vor einem Gebäude mit dem Schriftzug "Universität Liechtenstein". Sie halten ein Banner mit der Aufschrift "Erasmus+ Neue Perspektiven, Neue Horizonte".

Kick-off Workshop Series ‘Self-Leadership’ in Cooperation with SWISS Operations

Kick-off Workshop Series ‘Self-Leadership’ in Cooperation with SWISS Operations

Gruppe von zehn Personen steht lächelnd vor einer Wand mit dem Logo der Universität Liechtenstein. Sie tragen unterschiedliche Freizeit- und Businesskleidung.

On Thursday, 26 September 2024, an intensive train-the-trainer workshop focusing on self-leadership took place at the University of Liechtenstein under the direction of Julia Tenschert (Chair of Entrepreneurship and Leadership).

 

Self-leadership plays a decisive role in aviation - especially in situations where precise decisions are required under high time pressure and in complex environments. After all, successful leadership begins with the manager himself.

 

The core team of the SWISS Operations Leadership Curriculum and eight other leadership facilitators and pilots were not only strengthened in their own self-leadership potential in this workshop, but also received practical methods that they can apply and pass on in future leadership training courses and within SWISS Operations.
 

Gruppe von zehn Personen steht lächelnd vor einer Wand mit dem Logo der Universität Liechtenstein. Sie tragen unterschiedliche Freizeit- und Businesskleidung.

Kick-off Executive Master of Laws (LL.M.) in Banking and Financial Market Law

Kick-off Executive Master of Laws (LL.M.) in Banking and Financial Market Law

Gruppe von 22 Studierenden und einem Dozenten des Executive Master of Laws (LL.M.) im Bank- und Finanzmarktrecht der Universität Liechtenstein, posierend vor einem Gebäude mit herbstlicher Vegetation und Bergkulisse.

The Executive Master of Laws (LL.M.) in Banking and Financial Market Law kicked off its next round today.

 

22 students were welcomed by PD Dr. Bernhard Burtscher, who also presented the roadmap for the program: The upcoming four semesters will be filled with lectures on banking and financial market law, including all its subfields and related neighboring areas. At the same time, networking will not be neglected — not only among the students through a social program, but also with key players in the financial market industry in Frankfurt, Luxembourg, and Paris, which will be visited during study trips.

 

Gruppe von 22 Studierenden und einem Dozenten des Executive Master of Laws (LL.M.) im Bank- und Finanzmarktrecht der Universität Liechtenstein, posierend vor einem Gebäude mit herbstlicher Vegetation und Bergkulisse.

LSA launches Earth Hub

LSA launches Earth Hub

New Competence Center for Earthen Construction at the University of Liechtenstein.

 

At EARTH HUB, we bring together extensive expertise in earthen construction from our region, creating a platform for pioneering building approaches.

 

The EARTH HUB aims to:

 

  • Proactively showcase flagship projects and regional strengths.
  • Integrate the interdisciplinary knowledge of the LSA and the university as a whole.
  • Address the conditions for success and the challenges of the "building transition" with stakeholders from the economy and society, both regionally and at European level.

 

Starting in autumn 2024, the EARTH HUB will, among other things, explore the potential of environmentally friendly building materials—particularly clay-wood architecture—for the region and Europe. The combination of clay and wood is gaining significant momentum in professional circles across Europe as it enables CO2-efficient, fire-resistant, thermally optimized, and systematized high-rise construction. An example of this is the collaboration between LSA lecturer Martin Mackowitz, Blumer Lehmann from St. Gallen, and GBD Dornbirn, who are jointly developing innovative construction systems based on clay and wood.

 

The EARTH HUB emerged from the Urbanism, Architecture & Society unit and positions itself as a driver of sustainable building practices in Europe.

 

The first Earth Hub Symposium will take place at the University of Liechtenstein on 11 October 2024.

 

Study Trip of the Executive Master of Laws (LL.M.) in Economic Criminal Law to the Benelux Countries

Study Trip of the Executive Master of Laws (LL.M.) in Economic Criminal Law to the Benelux Countries

From 9 to 13 September 2024, the second study trip for students of the Executive Master of Laws (LL.M.) in Economic Criminal Law took place, led by Prof. Dr. Konstantina Papathanasiou, LL.M., Chair of Economic Criminal Law, Compliance, and Digitalization.

 

The excursion began with a visit to the International Criminal Court (ICC) in The Hague, where the group received an introduction to the court's history and operations. This was followed by the opportunity to attend a public hearing. Afterwards, the group held a presentation on the Eurojust report and its relevance to the Principality of Liechtenstein.

 

On the second day, the group visited the International Court of Justice (ICJ). After a guided tour through the impressive Peace Palace, a presentation on the unique characteristics of the Court followed. The group then visited the European Union Agency for Criminal Justice Cooperation (Eurojust), where they received an in-depth presentation by press officer Ton van Lierop on the challenges of cross-border cooperation. The day concluded with a group presentation on the topic "Decisions of the EFTA Court Related to Economic Criminal Law."

 

On the third day, the group travelled to Brussels, where they visited the European Anti-Fraud Office (OLAF) and attended a lecture on the institution's operations by Legal Assistant Nikoleta Symela Mavromati. Afterwards, they proceeded to the EFTA Surveillance Authority (ESA), where they were welcomed by Dr. Stefan Barriga (Liechtenstein's College Member at the ESA), whose expertise provided valuable insights into the functioning of the EFTA. The day ended with a final group presentation on the topic "CJEU Judgments in the Context of Economic Criminal Proceedings," which was kindly hosted at the ESA premises.

 

For the last two days of the trip, the group travelled by train to Luxembourg. At the EFTA Court, the students were warmly welcomed and received informative presentations on the Court’s history and jurisprudence as well as its relationship with the jurisprudence of the CJEU. The talks were given by Michael-James Clifton and Dr. Hans Ekkehard Roidis-Schnorrenberg, LL.M., both from the cabinet of Liechtenstein’s judge Dr. Bernd Hammermann.

 

The final stop of the trip was the Court of Justice of the European Union (CJEU). After a tour of the impressive building, Dr. Hanns Peter Nehl, Legal Secretary in the cabinet of Advocate General Prof. Dr. Dres. h.c. Juliane Kokott, explained the procedural structure of the CJEU. The group also received insights into the challenges of multilingualism and the role of lawyer-linguists at the CJEU.

 

This second study trip once again offered exciting insights and valuable knowledge about major supranational institutions that are also of great importance for the implementation of law in the Principality of Liechtenstein.

 

Sustainable Innovation in Focus: Insights from the 8th Liechtenstein Workshop of Sustainable Finance

Sustainable Innovation in Focus: Insights from the 8th Liechtenstein Workshop of Sustainable Finance

Eine Gruppe von sieben Personen steht auf einer Bühne beim 8. Liechtenstein Workshop of Sustainable Finance an der Universität Liechtenstein. Sie tragen formelle Kleidung und lächeln in die Kamera.

On 19 September 2024, the 8th Liechtenstein Workshop of Sustainable Finance took place at the University of Liechtenstein. The event brought together leading representatives from international academia and the regional economy to discuss the latest developments in the field of sustainable finance. The workshop was organized by Prof. Dr. Marco Menichetti, the initiator of the conference, together with his team.

 

As part of the event, academic papers were presented and the best contributions were honored with awards. These awards were presented by the long-time sponsors of the workshop: Bernd Hartmann from VP Bank, Karin Jehle from the LIFE Climate Foundation Liechtenstein, and Dr. Marcel Vaschauner from Liechtenstein Life Assurance.

 

The Best Paper Award, sponsored by VP Bank, was awarded to Lennart Sperling and Rainer Baule from FernUniversität in Hagen for their work "Transition Risk Premiums in Option Prices". The study examines how the risk of transitioning to a low-carbon economy — the so-called transition risk — is priced into stock options. The results show that the absolute value of this risk, measured by the so-called "carbon beta", influences option prices, but not the direction of the risk (green or brown). Particularly carbon-intensive firms carry a higher volatility premium, highlighting the role of transition risk for investors.

 

The Impact Award, sponsored by the LIFE Climate Foundation Liechtenstein, was awarded to Henry Flach and Christina E. Bannier from Justus Liebig University Giessen for their work "European Corporate Sustainability Reporting – The Financial Materiality Compass as an Auxiliary Tool". This work introduces the Financial Materiality Compass, a tool that helps companies better identify financially relevant sustainability information in their reporting. The research makes a valuable contribution to the current debate on European sustainability reporting and its effectiveness, especially in the context of the new requirements of the CSRD (Corporate Sustainability Reporting Directive).

 

The Climate Finance Award, sponsored by Liechtenstein Life Assurance, went to Julia Eckert from the University of Kassel and her co-authors Thomas Cauthorn, Anne Kellers, Christian Klein, and Bernhard Zwergel for their work "Do Sustainable Investors Get What They Ask For?". The study examines whether sustainable investors are actually offered investment products by advisors that align with their preferences and requirements. The findings reveal that in many cases, investors’ preferences are not fully considered, raising questions about the quality of financial advice and the implementation of regulatory requirements.

 

The workshop provided a unique opportunity to present research findings of international relevance while also fostering the exchange between academia and practice. The awarded papers offer important insights for the advancement of sustainable financial strategies and highlight the need for close collaboration to drive the global transition toward a more sustainable economy.

 

Eine Gruppe von sieben Personen steht auf einer Bühne beim 8. Liechtenstein Workshop of Sustainable Finance an der Universität Liechtenstein. Sie tragen formelle Kleidung und lächeln in die Kamera.
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A Perfect Start: Successful Launch of the Tenth Edition of the Executive Master of Laws (LL.M.) in Corporate, Foundation, and Trust Law

A Perfect Start: Successful Launch of the Tenth Edition of the Executive Master of Laws (LL.M.) in Corporate, Foundation, and Trust Law

Gruppenfoto von Studierenden und Dozenten des Executive Master of Laws (LL.M.) im Gesellschafts-, Stiftungs- und Trustrecht an der Universität Liechtenstein. Die Gruppe steht auf einer Treppe im Freien, umgeben von grüner Vegetation.

On Thursday, 19 September 2024, the University of Liechtenstein marked the beginning of the tenth cycle of the Executive Master of Laws (LL.M.) in Corporate, Foundation, and Trust Law.

 

Twenty-two students from various countries were admitted to the current program, representing a broad professional spectrum. Over the next four semesters, the students will acquire valuable theoretical knowledge and practical skills for their future careers.

 

The participants were warmly welcomed on campus by the academic program directors, Prof. Dr. Alexandra Butterstein, LL.M. and Prof. Dr. Francesco A. Schurr. Following an initial meet-and-greet and a campus tour, the students received an introduction to the Liechtenstein legal system.

 

This internationally recognized and uniquely German-language program provides participants with in-depth knowledge of Liechtenstein, European, and international corporate, foundation, and trust law, as well as related interdisciplinary legal topics. At the same time, the continuing education program contributes to maintaining and promoting the high standard of legal education and advisory services in Liechtenstein.

 

Gruppenfoto von Studierenden und Dozenten des Executive Master of Laws (LL.M.) im Gesellschafts-, Stiftungs- und Trustrecht an der Universität Liechtenstein. Die Gruppe steht auf einer Treppe im Freien, umgeben von grüner Vegetation.

Happy reunion at the alumni anniversary «20 years of Entrepreneurship»

Happy reunion at the alumni anniversary «20 years of Entrepreneurship»

20 years ago, the founding team around Prof. em. Dr. Urs Baldegger established the «Entrepreneurship» department at the then university of applied sciences, laying the foundation for a success story. Reason enough to celebrate this anniversary together with alumni, students and the staff team.

 

 

On Saturday, September 14, 2024, alumnae and alumni of the Master's degree program in Entrepreneurship and Management (and its predecessor programs) found their way back to the campus of the University of Liechtenstein for the «20 years of Entrepreneurship» ceremony. The graduating classes stretched back to 2008 and brought together graduates from the university of applied sciences, «Hochschule Liechtenstein» and the University of Liechtenstein.

 

 

Panel: Back to the beginning

 

It was a particular pleasure to welcome the former rector Klaus Näscher to the campus alongside the founding team. Over 20 years ago, his commitment paved the way for the Entrepreneurship department. Emeritus professor and founding father Dr. Urs Baldegger took the audience on a journey to the beginnings of entrepreneurship in Liechtenstein and, together with Klaus Näscher, created a lively atmosphere with interesting and amusing background information on the history of its origins. Former course manager Daniel Müller added impressions of study trips, projects and successes from 20 years of entrepreneurship. The program was rounded off with insights into today's Master's program by Academic Director Dr. Marco Furtner and Executive Director Tobias Fitz.

 

 

Pitches and excursions: Current projects

 

The rest of the program was determined by projects that emerged from the Master's in Entrepreneurship. The start-up 32 Peaks by alumni Daniel Knapp, Christian Bredemeier and Franco Bargetze took part in the pitches in the Start-up Lab alongside two student projects. Two Uni.Li alumni of served lunch: Philipp Luder, a graduate of the Bachelor of Business Administration, and his family with the Pasta Barn and Peter Demmel with his Liechtenstein-famous coffee. And Student Ambassadors of the Master’s in Entrepreneurship took the guests on a campus tour.

 

The excursions by shuttle bus destined to two places in the country that were founded by two former Uni.Li students: CEO Fabian Wachter welcomed the participants to the Technopark Liechtenstein. And managing director Thomas Büchel presented the range of services offered by the entrepreneurial center "kommod" in Ruggell.

 

Celebration: Ideas for the future

 

The entrepreneurship community celebrated the end of the event until the early hours of the morning in Ridamm City in Vaduz and took the opportunity to network with other study years. The extremely positive feedback from alumnae and alumni on the 20th anniversary and the new alumni activities in general resulted in new project and event ideas such as year reunions and networking for the alumni year 2025 that same evening. The entrepreneurship team and current students also enjoyed the exchange with the alumni to share their experiences of the past and present.

 

 

 

Open to all alumni

Of course, all graduates of the University of Liechtenstein are cordially invited to use the new offers for alumni. Ideas, requests and suggestions are always welcome via alumni@uni.li. And the new alumni channels are available for networking with one another: Community, LinkedInand WhatsApp.

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