More MPE with Professor Ray Horton

In this episode of More MPE, hosts Ray Horton and Sandi Wright speak with Rohit “Rit” Aggarwala ’00, the chief climate officer and commissioner of the Department of Environmental Protection (DEP) of the City of New York, a position he has held since being recruited in 2022 to the administration of Mayor Eric Adams.    The hat Aggarwala wears as commissioner of DEP puts him in charge of a major municipal agency, one with nearly 6,000 employees, a $1.5 billion operating budget, and a capital budget of $3.2 billion — and a long history. It performs three functions that are essential to the health of New Yorkers: supplying clean drinking water; collecting and treating wastewater; and reducing air, noise, and hazardous materials pollution.    The hat Aggarwala wears as chief climate officer no doubt brings an urgency to the department’s longstanding programs given his belief that New York City’s environment faces a “climate crisis.”   Aggarwala is a rare holder of three Columbia University degrees — a BA, an MBA, and a PhD — plus for 12 years and running an adjunct professor at the School of International and Public Affairs, where he teaches a popular course titled The Politics and Policy of Urban Sustainability.    Aggarwala discusses a series of issues with Horton and Wright in this conversation: the impact of his Columbia degrees on his career; whether different skills are required to perform leadership roles in the private, public, and nonprofit sectors; the importance of networking in his career; and finally, an issue that has largely escaped consideration in the literature of management — should you stay or leave when your boss is in hot water? Mentioned in this Episode   * Rohit “Rit” Aggarwala ’00 Thanks for listening!   Subscribe to More MPE wherever you get your podcasts. Visit morempe.com [http://morempe.com/], or drop us a line at socialenterprise@gsb.columbia.edu [socaboutialenterprise@gsb.columbia.edu].   More MPE is co-hosted by Sandi Wright and produced by The Podcast Consultant [https://thepodcastconsultant.com/]. Special thanks to executive producer Hannah Slow and student producers Sofia Martins '26 and Dominica Wambold '26.   Learn more [https://business.columbia.edu/socialenterprise/morempe]

Over the last three decades, thousands of Columbia Business School students have taken part in the elective course, Modern Political Economy. Last year, we took this institution outside of the classroom with More MPE, where host Professor Ray Horton and Columbia Business School faculty casually discussed some of the most current and controversial issues that affect business, government, and society.   This season, Ray and his colleague at the Tamer Institute, Sandi Wright, are going outside the building to have conversations with CBS alumni who have pursued extraordinary careers in fields ranging from social services to impact investing to the circular economy, and so much more. These inspiring leaders of social enterprises are making a profound impact in the public, private, and nonprofit sectors not just in New York City, but across the country and around the globe.   Throughout the series, you're invited to submit questions that will become part of an in-person Q&A to wrap up the season with Ray and Sandi. More info can be found on: www.morempe.com [http://www.morempe.com/]

This final session features Professors Glenn Hubbard and Tano Santos, the faculty who teach the popular course Modern Political Economy at Columbia Business School.    Hubbard is the director of the Jerome A. Chazen Institute for Global Business, Dean Emeritus, and Russell L. Carson Professor of Finance and Economics at Columbia Business School; and Santos is the director of the Heilbrunn Center for Graham and Dodd Investing and Robert Heilbrunn Professor of Asset Management and Finance at Columbia Business School. Sandi Wright, director of the Tamer Center for Social Enterprise, moderates the session.   The session begins with Hubbard and Santos answering questions from host Professor Ray Horton based on three topics of critical importance that were addressed in previous episodes throughout the season: climate change, migration, and artificial intelligence. In each case, they answer the questions from the perspective of political economy rather than economics.    The Columbia Business School faculty who addressed these issues in earlier episodes of season one comment on the remarks of Santos and Hubbard — Professors Bruce Usher and Gernot Wagner on climate change, Professor Dan Wang and postdoctoral research scholar Sandra Portocarrero on migration, and Professor Sandra Matz on artificial intelligence. Sandra Navalli OAM ’03, managing director of the Tamer Center for Social Enterprise, closes with comments on how this podcast provides a platform to discuss major global issues that elevate the public discourse around the modern political economy.   The session ends with Horton asking Hubbard and Santos to predict who will be the winner of the 2024 presidential campaign.    Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit morempe.com [http://morempe.com], or drop us a line at socialenterprise@gsb.columbia.edu [socaboutialenterprise@gsb.columbia.edu].   ____________________________________ Mentioned in this Episode   * R. Glenn Hubbard [https://business.columbia.edu/faculty/people/r-glenn-hubbard], (Columbia Business School) * Sandra Matz [https://business.columbia.edu/faculty/people/sandra-matz], (Columbia Business School) * Sandra Navalli OAM ’03 [https://business.columbia.edu/faculty/people/sandra-navalli], (Columbia Business School) * Sandra Portocarrero [https://business.columbia.edu/faculty/people/sandra-portocarrero], (Columbia Business School) * Tano Santos [https://business.columbia.edu/faculty/people/tano-santos], (Columbia Business School) * Bruce Usher [https://business.columbia.edu/faculty/people/bruce-usher], (Columbia Business School) * Gernot Wagner [https://business.columbia.edu/faculty/people/gernot-wagner], (Columbia Business School) * Dan Wang [https://business.columbia.edu/faculty/people/dan-wang], (Columbia Business School) More MPE is produced by The Podcast Consultant [https://thepodcastconsultant.com/]. Special thanks to executive producers Sandi Wright and Hannah Slow.

This session of More MPE focuses on the increasing importance of social entrepreneurship and the unique role the Tamer Center for Social Enterprise plays in supporting social entrepreneurship in the United States and around the world. Our guest is Sandra Navalli OAM ’03, the managing director of the Tamer Center for Social Enterprise. She first proposed and now oversees the development of the distinctive and highly successful Tamer Fund for Social Ventures, which supports social entrepreneurs by drawing on the financial and human resources of the center, the Business School, and Columbia University at large.   The conversation begins with Navalli explaining how the field of entrepreneurship differs from the subfield of social entrepreneurship before turning to a discussion of the Tamer Fund for Social Ventures. It provides seed grants to social and environmental startups of all kinds, including nonprofit, for-profit, and hybrid ventures. Competition for the grants is intense, with up to one hundred applications each semester for a total of seven grants each year.   While financial support is a critical part of building a successful venture, according to Navalli another key area is the ability to draw on the diverse skills of students, faculty, and alumni from across the University — and not just from the Business School. Tamer Center staff and an investment board work with portfolio ventures to access university resources, including connecting them with experienced advisors and student talent. At one point she notes that before Warby Parker was a recognized brand, they found it harder to attract interest for open positions. The Tamer Fund for Social Ventures provides a reputational boost and a positive signaling effect for talented students and alumni who wish to work with mission driven ventures.   The conversation ends with a discussion of the final session of More MPE, which will be a live session taking place on March 25 on the Manhattanville Campus. The session will feature a discussion of three professors of the Modern Political Economy Course — Glenn Hubbard, Tano Santos, and Ray Horton — drawing on key points taken from the individual sessions of the podcast. Listeners are invited to attend the live session and a reception afterward of students, faculty, and administrators. Join the mailing list [https://columbiasocialenterprise.org/civicrm/event/register?id=950&reset=1] to receive an invitation.   Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit morempe.com [http://morempe.com], or drop us a line at socialenterprise@gsb.columbia.edu [socaboutialenterprise@gsb.columbia.edu].   Mentioned in this Episode * Sandra Navalli OAM ’03 [https://business.columbia.edu/faculty/people/sandra-navalli], (Columbia Business School) * Tamer Fund for Social Ventures [https://business.columbia.edu/socialenterprise/initiatives/social-ventures], (Columbia Business School) More MPE is produced by The Podcast Consultant [https://thepodcastconsultant.com/]. Special thanks to executive producers Sandi Wright and Hannah Slow.

In another session devoted to climate change, we focus on an unconventional way of halting global warming known as solar geo-engineering. In this session, host Professor Ray Horton speaks with Gernot Wagner, faculty director of the Climate Knowledge Initiative at the Tamer Center for Social Enterprise and senior lecturer at Columbia Business School. Wagner is an expert in engineering solutions to the problem of climate change.   The conversation with Wagner begins with the meaning of solar geo-engineering, a technique that promises to play a role in halting global warming by surrounding Earth with a shield that block the sun’s heat from entering the atmosphere. He describes the process of creating the shield as uncomplicated technically and very much cheaper than the sums involved in the wide range of policies designed to reduce fossil fuel consumption.   Why then, the conversation continues, is solar geo-engineering not playing a role in fighting what is seen by many as an existential threat? Wagner advances what he calls a “green” moral hazard problem. Opponents, who for the most part are climate scientists and advocates of decarbonization policies, argue that investing in solar geo-engineering will reduce the pressure to deal with the real problem — reducing CO2 emissions. Wagner explains why he is somewhat skeptical of the moral hazard argument but acknowledges that much more needs to be known about the long-term effects on plant and animal life of blocking the sun. In the end Wagner calls for more research.   Wagner is an important part of Columbia Business School’s commitment to put climate change at the center of its educational mission through teaching and research. He teaches the introductory course in the MBA program, which is already taken by one-half of the students; he is an active scholar and disseminator of research; and through the Climate Knowledge Initiative he is taking theory to practice by working with students to develop decarbonization strategies for select industries.    The Climate Knowledge Initiative launches in 2024 thanks to support and leadership from N. Robert (Bob) Hammer ‘67. The Tamer Center for Social Enterprise applauds his vision and is pleased to present him with the 2024 Horton Award for Excellence in Climate and Social Impact. Thanks for listening! Subscribe to More MPE wherever you get your podcasts. Visit morempe.com [http://morempe.com], or drop us a line at socialenterprise@gsb.columbia.edu [socaboutialenterprise@gsb.columbia.edu].   Mentioned in this Episode * Gernot Wagner [https://business.columbia.edu/faculty/people/gernot-wagner], (Columbia Business School) * Climate Knowledge Initiative, (Columbia Business School) More MPE is produced by The Podcast Consultant [https://thepodcastconsultant.com/]. Special thanks to executive producers Sandi Wright and Hannah Slow.