Jon M. Huntsman Hall

The Wharton School 3730 Walnut Street

University of Pennsylvania

Philadelphia, PA

2

Agenda

11th Annual Strategy and the Business Environment Conference (SBE) May 9-10, 2011

and

3rd Annual Research Conference

Alliance for Research on Corporate Sustainability (ARCS) May 9-11, 2011

Monday, May 9 – All SBE sessions to be held in Gillen Amphitheater, Vance Hall

11:30am - 12:30pm Registration, Welcome and Lunch

12:30 - 2:00pm Theoretical Advances

David Baron (Stanford University)

The Industrial Organization of Private Politics

Daniel Diermeier, Jose-Miguel Abito and David Besanko

(all Northwestern University)

Corporate Reputational Dynamics and Activist Pressure

Discussant: Dennis Yao (Harvard University)

2:00 - 2:30pm Break

2:30 - 4:00pm Institutional Change, Political Ties and Strategy

Charles Eesley (Stanford University) and Delin Yang (Tsinghua University)

Changing Entrepreneurial Strategies To Developing Capitalist Institutions: A Look At Chinese

Technology Entrepreneurs

Hongjin Zhu (McMaster University) and Chi-Nien Chung (National University of

Singapore)

The Portfolio of Political Ties and Market Entries of Business Groups in Emerging Economies

Discussant: Nan Jia (University of Southern California)

4:00 - 4:30pm Break

4:30 - 6:00pm Regulation

Paul Seaborn (University of Toronto)

Business Models and Incentives in Rating Markets: How „Who Pays‟ Matters

David B. Ridley (Duke University)

Pricing Strategy under Inflation Constraints

Discussant: Evan Rawley (University of Pennsylvania)

SBE

Monday’s Dinner and Tuesday’s Sessions through 3:45pm have been organized jointly between the SBE Conference

and the ARCS Conference. The SBE Conference begins Monday morning and ends Tuesday afternoon. The ARCS

Conference officially commences with the dinner on May 9th at the Hilton Inn@Penn and ends Wednesday afternoon.

3

Third Annual ARCS Conference May 9-11, 2011

6:00 - 9:00pm Cocktails and Dinner

Cocktail hour from 6:00-7:00pm, dinner to follow

Hilton Inn@Penn Regents Dining Room

3600 Sansom Street (can also enter on 3600 block of Walnut)

Keynote Speaker: Paul Hofmann

Vice President, Group of the Chief Scientist

SAP Labs at Palo Alto

Innovation and Research at SAP: Driving Best Practices in Corporate Sustainability

Tuesday, May 10 - All sessions to be held in Colloquium Hall, 8th Floor

7:30 - 8:30am Registration and Continental Breakfast

8:30 - 8:45am Welcoming Remarks

Thomas S. Robertson, Dean

The Wharton School

8:45 - 10:15am Environmental Sustainability

Timothy Simcoe (Boston University) and Michael W. Toffel (Harvard University)

LEED Adopters: Public Procurement and Private Certification

Kira R. Fabrizio (Duke University)

Investments under Regulatory Uncertainty: Evidence from Renewable Energy Generation

Discussant: Andrew King (Dartmouth College)

10:15 - 10:45am Break

10:45 - 12:00pm Emerging Scholars Panel

Kristin Wilson and Stan Veuger (both Harvard University)

Walk On By: The Performance Effects of Regulatory Oversight

Olga Hawn, Aaron Chatterji, and Will Mitchell (all Duke University)

Two Coins In One Purse? How Market Legitimacy Affects the Financial Impact of Changes in

Social Legitimacy: Addition And Deletion by the Dow Jones Sustainability Index

Aline Gatignon, Rolando M. Tomasini, and Luk N. Van Wassenhove (all INSEAD)

Jump-starting Social Networks: Using Lead Partnerships to Ignite Companies‟ CSR Programs

12:00 - 1:30pm Lunch and Pracititioner Panel

Alan Kelly Playmaker Systems http://www.plays2run.com/alan-kelly

Eva Schiffer NetMap http://netmap.ifpriblog.org/personal-profile/

1:30 - 1:45pm Break

SBE

ARCS

4

Agenda 1:45 - 3:30pm Political and Social Sustainability

Shon Hiatt (Harvard University) and Sangchan Park (National University of

Singapore)

Lords of the Harvest: Reputation Concerns and Regulatory Approval of Genetically Modified

Organisms

Sinziana Dorobantu, Witold Henisz, and Lite Nartey (all University of

Pennsylvania)

Spinning Gold: The Financial Returns to External Stakeholder Engagement

Brian Richter (University of Western Ontario)

“Good” and “Evil”: The Relationship between Corporate Social Responsibility and Corporate

Political Activity

Discussant: Daniel Korschun (Drexel University)

3:30 - 3:45pm Break (Conclusion of SBE Conference)

3:45 - 4:45pm Private Responses to Climate Change

Daniel Matisoff (Georgia Institute of Technology)

Privatizing Climate Change Policy: Is There a Public Benefit?

Pete Tashman (George Washington University)

Corporate Climate Change Vulnerability, Resource Dependence and Corporate Environmental

Performance: A Longitudinal Study in the U.S. Ski Resort Industry

Session Chair: John Maxwell (Indiana University)

4:45 - 5:15pm Research Sketches (4 min. each)

1. Cary Coglianese (University of Pennsylvania) and Jennifer Nash

(Harvard University) Performance Track's Postmortem

2. Eun-Hee Kim (George Washington University) and Thomas P. Lyon

(University of Michigan)

When Does Institutional Investor Activism Increase Shareholder Value?:

The Carbon Disclosure Project

3. Patricia Crifo and Sandra Cavaco (both Ecole Polytechnique)

The CSR-Firm Performance Missing Link: Complementarity between Environmental, Social and

Business Behavior Criteria?

4. Fikret Korhan Turan (Istanbul Kemerburgaz University)

A Multi-Stage Stochastic Linear Program Developed as a Decision Support Tool for Organiza-

tional Sustainability

5. Dietrich Earnhart (University of Kansas) and Dylan Rassier (U.S. Bureau of

Economic Analysis)

Effects of Environmental Regulation on Actual and Expected Profitability

5:15 - 5:30pm Break

SBE

ARCS

5

Third Annual ARCS Conference May 9-11, 2011

5:30 - 7:30pm Poster Session and Reception

University of Pennsylvania Museum of Archaeology and Anthropology

3260 South Street

1. Sunyoung Lee and Mike Barnett (both University of Oxford)

The Role of Reputation in Reputation

2. Arno Kourula (Stanford University), Markus Paukku and Mikko Koria

(both Aalto University)

The Multiple Levels of Corporate Social Responsibility: Towards a Theory of Role Management

3. Hans Rawhouser (University of Minnesota)

Applications of Modularity in the Public Interest: Lessons from the Carbon Markets

4. David Graham Hyatt (University of Arkansas)

Measuring the Effects of Cross-Sector Partnerships on Firm Environmental Strategy

5. Patricia Crifo and Sandra Cavaco (both Ecole Polytechnique)

The CSR-Firm Performance Missing Link: Complementarity between Environmental, Social and

Business Behavior Criteria?

6. Ruth Protpakorn and Judd Michael (both Penn State University)

Investigating Resources Appropriation and Strategy Infusion as Corporate Responsibility Initiatives

7. Fikret Korhan Turan (Istanbul Kemerburgaz University)

A Multi-Stage Stochastic Linear Program Developed as a Decision Support Tool for

Organizational Sustainability

8. Frank Wijen (Erasmus University), Shahzad (Shaz) Ansari (University of Cambridge)

and Barbara Gray (Penn State University)

Strategies for Mobilizing Actors in Transnational Commons

9. Lite Nartey (University of Pennsylvania)

Networks of Influence: Implementing Politically Sustainable Multinational Stakeholder Strategies

10. Mohamad Fakhreddin and Stephen J. Mezias (both INSEAD)

From Private to Public: Community Institutions, Corporate Social Action, and Sustainable

Economic Development

11. Oana Branzei, Jeff Frooman and Brent McKnight (all University of Western

Ontario), and Charlene Zietsma (University of British Columbia)

Precaution and Permission: A Creditor's Perspective on Firm-level Risks to Society

12. Pushpika Vishwanathan, J. (Hans) van Oosterhout, Pursey P.M.A.R. Heugens

(all Erasmus University) and Marc van Essen (Utrecht University)

Is 'Irresponsible' 'Unsustainable'? A Meta-Analysis of the Corporate Social Irresponsibility -

Performance Relationship

13. Simon Nyeck and Max Chauvin (both Essec Business School) and Nathalie

Veg-Sala (University of Maine)

Branding Diversity: Diversity Representations in French Brands Communication

14. Eun-Hee Kim (George Washington University) and Thomas P. Lyon

(University of Michigan)

When Does Institutional Investor Activism Increase Shareholder

Value?: The Carbon Disclosure Project

ARCS

6

Agenda 15. Sara Soderstrom (University of Michigan) and Klaus Weber (Northwestern

University)

Sustaining Issue Selling in Sustainability

16. Johanna Nurkka and Markus Paukku (Aalto University)

Experiential Learning vs. Organizational Structure: Implications for Organizational Memory when

„Greening‟ a MNC

7:30 - 9:00pm Dinner

University of Pennsylvania Museum of Archaeology and Anthropology

3260 South Street

Keynote Speaker: Alan Greenberger

Deputy Mayor for Economic Development, City of Philadelphia Sustainability Strategies in the City of Philadelphia: Economic Efficiency and Commercial

Development Impacting the Region and its Global Relationships

Wednesday, May 11 - All ARCS sessions to be held in Colloquium Hall, 8th Floor

7:30 - 8:30am Continental Breakfast

8:30 - 10:00am Emergence of Sustainable Markets

Desiree Pacheco (Portland State University), Jeffrey G. York (University of

Colorado-Boulder), and Timothy Hargrave (University of Washington-Bothell)

The Co-Evolution of Industries, Social Movements, and Institutions: The Case of Wind Power

A. Wren Montgomery, Jacqueline Corbett and M. Tina Dacin (all Queen’s

University)

Of Markets and Men: How Movements Shape the Making of Markets

Jiao Luo (Columbia University)

Firm Participation in Controversial Markets: Institutional Dissonance, Environmental Performance

and Entry into Carbon Offsetting, 2006-2009

Session Chair: Marian Chertow (Yale University)

10:00 - 10:30am Break

10:30 - 12:00pm Capital Markets and Environmental Disclosures

Elizabeth Connors (Northeastern University) and Lucia S. Gao (University of

Masachusetts - Boston)

Corporate Environmental Performance, Disclosure and Leverage: An Integrated Approach

Tom Lyon (University of Michigan), Yao Lu, Xinzheng Shi and Nan Wang (all

Tsinghua University)

How Do Shareholders Respond to Sustainability Awards?

Evidence from China

N. Craig Smith and Luk Van Wassenhove (both of INSEAD), and Leena Lankoski

(University of Helsinki and INSEAD)Judgments of Stakeholder Value: An Application of Prospect

Theory to Stakeholder Theory

Session Chair: Mike Lenox (University of Virginia)

ARCS

7

Third Annual ARCS Conference May 9-11, 2011

12:00 - 1:00pm Working Lunch featuring Research Sketches (4 min. each)

1. A. Marcus and J. Malen, (both University of Minnesota), S. Ellis, I. Drori and I.

Sened (all Washington University-St. Louis)

Path Dedendence and Creation In Clean Tech: An Exploratory Analysis:

2. Marian Chertow and Benjamin Beinecke (Yale University)

Intermediating The Market For Industrial Symbiosis

3. Sara Soderstrom (University of Michigan) and Klaus Weber (Northwestern

University)

Sustaining Issue Selling in Sustainability

4. Glen Dowell, Ben Lewis (both Cornell University), and Judith Walls (Concordia

University)

TMT Educational Background and Firm Environmental Performance

1:00 - 1:15pm Break

1:15 - 2:15pm Strategic Adoption of Voluntary Standards

Andrea Prado (New York University)

Choosing Among Competing Environmental and Labor Standards: An Exploratory Analysis of

Producer Adoption

Cary Coglianese and Jonathan Borck (University of Pennsylvania)

Beyond Compliance: Explaining Business Participation in Voluntary Environmental Programs

Session Chair: Michael Toffel (Harvard University)

2:15 - 2:30pm Break

2:30 - 3:30pm Strategic Responses to Information

Anil Doshi (Harvard University), Glen Dowell (Cornell University), and Michael

Toffel (Harvard University)

How Firms Respond to Mandatory Information Disclosure

Nilanjana Dutt (Duke University) and Andrew A. King (Dartmouth College)

What the Cleaning Lady Knows

Session Chair: Eric Orts (University of Pennsylvania)

3:30pm ARCS Conference Concludes

ARCS

8

IGEL is a global initiative on business and the environment created by Penn/Wharton faculty in consulta-

tion with leading experts in business, NGOs and government. IGEL brings together the best academic and business

minds from around the world to discuss and research cutting-edge topics concerning business and the environment.

Led by founding director Eric W. Orts (Guardsmark Professor, Legal Studies and Business Ethics Department,

Wharton), IGEL’s network includes faculty from every school at Penn and a diverse network of sustainably-minded

companies and NGOs.

With the intellectual resources of the faculty and students of Penn, the business acumen of Wharton, and our

world-class corporate partners, IGEL is uniquely poised to help solve the most pressing environmental issues of

our time. The Initiative’s mission is to become the preeminent institutional and educational catalyst for the adapta-

tion of transformative and sustainable business policies and practices.

Sustainability in Business

IGEL provides regular opportunities for business leaders to discuss, with input from Whar-

ton/Penn faculty, best practices, cutting-edge environmental issues, emerging na-

tional and international regulation and latest research findings. This initiative also

includes; annual conferences-workshops, alumni events, student symposiums, career-building

networks, campus and global seminar series, and plans for executive education programs.

Curriculum for Future Leaders Undergraduate Minor in Sustainability and Environmental Management

Wharton Undergraduate Concentration in Environmental Policy & Management

Wharton MBA Major in Environmental and Risk Management

Dual-Degree Program of MBA/Master of Environmental Studies (MES)

Multi-Master Degree of International Environmental Management

Recent IGEL Research and Conferences (2011) Valuing Water: Business Challenges & Opportunities for Innovation

(2010) Green Evolution: Managing the Risks, Reaping the Benefits

(2010) Greenhouse Markets After Copenhagen: Consequences & Best Practices for

Business Management

(2009) Integrative Thinking about Lifecycle Analysis: Promises & Limitations

Corporate Partners Current Corporate Advisory Board members include:

Altria, Bank of America, BASF, GE, Merck, SAP,

Royal Dutch Shell, Dow, The Coca-Cola Company,

Suez Environment-United Water, and Xerox.

Current Corporate Sponsors include:

Air Products, Continental Airlines, Geoscape Solar,

Goldman Sachs, International Paper, Southwest,

The Nature Conservancy, and Sustainable Life Media.

Eric Orts

Faculty Director, IGEL Guardsmark Professor, The Wharton School

ortse@wharton.upenn.edu

Joanne Spigonardo

Associate Director, IGEL spigonaj@wharton.upenn.edu

http://environment.wharton.upenn.edu

Follow us on the web! Facebook (Initiative for Global Environmental Leadership)

Twitter (@WhartonIGEL)

9

Third Annual ARCS Conference May 9-11, 2011

Mission

The Alliance for Research on Corporate Sustainability (ARCS) seeks to advance rigorous academic research on corpo-

rate sustainability issues by providing data, tools and networking opportunities to researchers who are developing

greater understanding of the opportunities and limits of policies and strategies to create sustainable businesses.

ARCS plays a role in answering the many questions related corporate sustainability, such as:

What are the underlying incentives to which firms are responding?

How do these incentives vary across firms and industries?

What are the barriers to firms adopting proactive sustainability practices?

What types of alliances, networks and stakeholder engagement enable successful corporate sustainability strategy?

Through what mechanisms can entrepreneurship and innovation simultaneously drive a firm's market success and discover

solutions to societal challenges such as climate change?

Activities To Date

1) Launch Event: ARCS was official launched at the Darden School of Business in October, 2009 during the annual

Sustainability and Renewable Energy Forum, with a keynote presentation by sustainability leader Ray Anderson,

Chairman of Interface, Inc.

2) Annual Conference: ARCS held its inaugural research conference at the University of Michigan in 2009, and its

second annual Conference at Harvard Business School in 2010, where a multi-disciplinary group of 100 corporate

sustainability researchers from 54 institutions and ten countries gathered to present and discuss leading papers in

the field. The 3rd and 4th annual conferences are being held at Wharton and Yale, respectively.

3) Ph.D. Sustainability Academy: ARCS co-sponsors with the University of Ontario’s Richard Ivey School of Business

an annual PhD Sustainability Academy, which immerses young scholars in a multi-disciplinary dialogue with leading

sustainability faculty. For the 2010 Academy, scholars explored the intersection of social movements and market

creation for socially and environmentally responsible products and services.

4) ARCS Data Portal: ARCS received a $50K National Science Foundation (NSF) grant to hold a multi-stakeholder

workshop with academic, corporate, NGO and government participants on Data Needs for Accelerating Progress on

Corporate Sustainability. The goal of the workshop was to begin building a public resource for scholars to facilitate

research on corporate sustainability. Such a data portal will ultimately provide researchers access to accurate, nor-

malized information from government, private, and researcher level sources. The Data Portal will specifically ad-

dress key challenges researchers face, including: 1) currently a limited amount of facility level sustainability infor-

mation exists and, where it does, it is inconsistent, and 2) data are not sufficiently useful in correlating corporate

level policy to facility level outcomes. At the workshop, attendees collaborated to develop the strategy, identify

resources, and create an action plan for successfully implementing the ARCS Data Portal.

5) The ARCS Community: The ARCS web site exists to provide blogs, videos, news items and research spotlights of

interest to corporate sustainability researchers from a wide variety of disciplines. The ARCS social networking

portal also allows researchers to share projects, resources, Calls for Papers, etc. in order to facilitate collabora-

tion.

6) Federal Policy: ARCS provided comment on the EPA’s proposed new Mandatory Greenhouse Gas Reporting

Rule, and how it could most effectively enable researchers to track the Rule’s long-term impact on corporate sus

tainability progress.

10

2011-2012 Activities

1) 4th Annual Conference at Yale

2) Fall Ph.D. Sustainability Academy at Ivey School of Business

3) ARCS will convene a Corporate Roundtable on sustainability, bringing academic researchers together with corpo-

rate partners to discuss:

a) Critical issues that inform research needs

b) Latest research findings of interest to practitioners

4) Development of the ARCS Data Portal

ARCS Members

11

Third Annual ARCS Conference May 9-11, 2011

Tima Bansal

Professor U Western Ontario

Lori Bennear

Assistant Professor of Environmental Economics and Policy

Duke

ARCS Program Committee

Andy Hoffman

Holcim (US) Professor of Sustainable Enterprise

U Michigan

Andrew King

Professor of Business Dartmouth

Mike Lenox

Samuel Slover Professor of Business U Virginia

Eric Orts

Guardsmark Professor U Pennsylvania

Conference Chair

Glen Dowell

Assistant Professor of Management and Organizations

Cornell

Daniel Diermeier

IBM Professor of Regulation and Competitive Practice

Northwestern

Marian Chertow

Associate Professor of Industrial Environmental Management

Yale

John Maxwell

W. George Pinnell Professor Indiana

Tom Lyon

Dow Chemical Professor of Sus-tainable Science, Technology and

Commerce U Michigan

N. Craig Smith

INSEAD Chaired Professor of Ethics and Social Responsibility

INSEAD

Mike Toffel

Associate Professor of Business Administration

Harvard

David Vogel

Solomon P. Lee Chair in Business Ethics

U California-Berkeley

12

Biographies

Alan J. Greenberger

Deputy Mayor for Economic Development

City of Philadelphia

Alan J. Greenberger has been with the City of Philadelphia since 2008 and was appointed by Mayor Michael Nutter as

Deputy Mayor for Economic Development In June 2010. Prior to that, he was in private practice as an architect and

planner with MGA Partners and its predecessor, Mitchell/Giurgola Architects for 34 yrs. Some projects include the Sal-

vation Army Kroc Corps Community Center in Philadelphia, the West Chester University School of Music and Perform-

ing Arts Center, the renovation of Lehigh University's historic Linderman Library, new campus plan and pavilions at the

Mann Center for the Performing Arts, the America on Wheels Museum in Allentown, new campus plan and buildings for

the National Foreign Affairs Training Center, and the Master Plan for the Centennial District in Philadelphia's Fairmount

Park.

Alan also serves in numerous civic and cultural organizations and is a co-founder of the Design Advocacy Group of Phil-

adelphia, a 1000 member organization that is a model of design advocacy nationwide. He is a Fellow of the American

Institute of Architects and is on the faculty of the Department of City and Regional Planning at the University of Pennsyl-

vania.

Before joining the team of the Chief Scientist, Paul worked for the SAP Corporate Venturing Group. Paul joined SAP in

2001 as Director Strategic Supply Chain Management Initiative EMEA. His pre-sales team designed and rolled out the

SCM Value Based Selling Approach for EMEA and supported many crucial Supply Chain sales.

Prior to joining SAP, he was the Senior Plant Manager at BASF’s Global Catalysts Business Unit. After joining BASF in

1989, Paul headed the development of object-oriented production planning and scheduling software for BASF's plants—

one of the first big object oriented software projects in German industry. He also developed an AI System for Catalysts.

Paul was a Researcher and Assistant Professor at top German and US Universities, like Northwestern University and

Technical University in Munich, Germany. At Northwestern, he did computer simulations to explain molecular beam

reactions. He used Cray supercomputers extensively for this work and collaborated with Sir John Pople (Nobel Prize

Laureate).

Paul studied Chemistry and Physics at the University of Vienna, Austria. He received a Bachelor in biotechnology and a

master’s degree in Chemistry from the University of Vienna. He did his Ph.D. in Physics at the Darmstadt University of

Technology, Germany.

He is the author of numerous publications and books.

Paul Hofmann

Vice President, Group of the Chief Scientist

SAP Labs at Palo Alto

13

Third Annual ARCS Conference May 9-11, 2011

Tom Robertson

Dean, Reliance Professor of Management and Private Enterprise

The Wharton School, University of Pennsylvania

A seasoned business school administrator and a member of the Wharton faculty from 1971 to 1994, he has long been a

champion of international and interdisciplinary education. Since returning to Wharton as Dean, his focus has been to

expand Penn’s global footprint while advancing Wharton as a force for social and economic good.

Prior to his second tenure at Penn, Robertson led Emory University’s extensive internationalization efforts. As Chair of

International Strategy, he cultivated substantial strategic alliances with universities in China, Korea, and Ethiopia, estab-

lished an international advisory board for the university, and developed and implemented a number of new international

and joint degree programs. He also served as Executive Faculty Director of the Institute for Developing Nations, a ma-

jor joint-venture research initiative with The Carter Center and President Jimmy Carter.

From 1998 to 2004, Robertson was Dean of Emory’s Goizueta Business School and is widely credited with positioning

the school as an international leader in business education. He led Goizueta into an unprecedented era of growth, in-

creasing the size of the faculty by 73 percent, doubling revenues, and nearly doubling the endowment. He also devel-

oped new international alliances for the school, spurred major growth in executive-education programs, added a major

new building, and launched a new PhD program.

From 1994 to 1998, he was Sainsbury Professor, Chair of Marketing, and Deputy Dean of the London Business School

in charge of the School’s portfolio of degree and non-degree programs.

In his first tenure at Wharton, he was Pomerantz Professor of Marketing and Chair of the Marketing Department. As

Associate Dean for Executive Education, he led the effort to build the Steinberg Conference Center, designed an inno-

vative set of new senior-management programs, and substantially increased financial contributions.

An expert in marketing strategy and competitive behavior, the diffusion of innovation, and consumer behavior, Robert-

son is author, co-author, or editor of a dozen books and almost 100 scholarly articles and book chapters. He has won

numerous awards for his scholarship and has lectured widely in North and Central America, Europe, Asia, and Australia.

He has also served as a marketing strategy consultant to a number of international companies, including Proctor & Gam-

ble, IBM, Roche Laboratories, T. Rowe Price, Nestle, ScottishPower, Standard Life, Merck, British Airways, and Verizon.

In addition to his appointments at Wharton, Goizueta, and London Business School, he has held faculty positions at the

Anderson School at UCLA and Harvard Business School.

Born in Gourock, Scotland, and raised in Scotland and Detroit, Robertson earned his BA in business from Wayne State

University and his MA and PhD in marketing from Northwestern University.

14

15

Third Annual ARCS Conference May 9-11, 2011

Notes

Initiative for Global Environmental Leadership (IGEL)

Eric Orts

Faculty Director, IGEL

Guardsmark Professor, Wharton School

Joanne Spigonardo

Associate Director, IGEL

spigonaj@wharton.upenn.edu

620 Jon M. Huntsman Hall

3730 Walnut Street

Philadelphia, PA 19104

(215) 746-3878

http://environment.wharton.upenn.edu Printed on Recycled Paper

The Wharton School, University of Pennsylvania and the Initiative for Global

Environmental Leadership (IGEL) are pleased to host the Third Annual ARCS

Conference. Thank you for your attendance.

Initiative for Global Environmental Leadership