Nova SBE releases the 6th edition of the Nova SBE Road to Impact Report, which gathers the school’s key milestones and initiatives on the path to sustainability throughout 2024. The document reveals that the commitment to diversity, equity, and sustainability is cross-cutting and reflected in the school’s governance structure, which is moving towards gender parity and implementing policies aligned with the NOVA 2020-2030 goals.

This edition confirms that the public commitment to carbon neutrality for Scope 1 and 2 emissions by 2026 guided the school’s actions throughout the year and shows significant progress in integrating sustainability into teaching, research, operations, and community engagement.

The Nova SBE Road to Impact Report serves as a monitoring tool that not only describes the school’s contribution to the 2030 agenda but also evaluates how Nova SBE and its various stakeholders are progressing towards meeting sustainability goals.

A Lifelong Learning Commitment

Promoting responsible and impact-driven education in line with Sustainable Development Goal (SDG) 4.7, Nova SBE reached a new milestone in student body growth in the 2024/25 academic year, enrolling 6,845 students. Growing demand for the school’s programs is reflected in a 22.6% increase in applications to Master’s programs and a significant rise in undergraduate entry grades (Economics: 18; Management: 18.3).

Ensuring that no student is left behind, Nova SBE increased the scholarship budget, reaching an all-time high of approximately 2 million euros allocated to undergraduate and Master’s students. These funds supported 431 scholarships, including 72 that covered 100% of tuition fees.

Toward Responsible and Impactful Education

The increasing recognition by the student body parallels the strengthened prestige and quality of Nova SBE’s academic offering, which in 2024 ranked in the Financial Times’ Top 20 best business schools in Europe.

Sustainability monitoring within the academic offering was reinforced in 2024 with the introduction of the ‘Learning Outcome’ parameter (for ethical, social, and environmental assessment of business decisions) within the Assurance of Learning (AoL) system. Internal and external evaluations confirm that students are graduating prepared to create real-world impact.

Since 2022, undergraduate programs include the mandatory course 'Careers with Impact', ensuring that all students develop the skills to build meaningful careers aligned with sustainable development and positive social impact. In 2024, this training involved over 1,500 students, 17,000 volunteer hours, 22 impact workshops, and collaborations with 7 NGOs.

In Master’s programs, the focus on sustainability remains pervasive. In addition to ESG-related courses (environmental, social, and governance), Master’s students in Economics, Finance, and Management can choose a Specialization Area (AoE) in Sustainability.

In 2024, Nova SBE’s two international Master’s programs achieved their best-ever results in the Financial Times rankings: the International Master’s in Finance (with 29 mandatory curriculum hours dedicated to ESG content) rose to 7th worldwide, and the International Master’s in Management (with 56 mandatory ESG hours) reached 8th globally.

In terms of well-being and mental health, special emphasis was placed on the Pandua project (a cross-cutting initiative by NOVA University to promote mental health in higher education), which not only increased human resources but also improved coordination between Social Services and the various NOVA schools. Additionally, it expanded training for staff who work directly with students. In 2024, Nova SBE redefined its support model and assisted 245 students, holding more than 1,200 psychological support sessions.

The well-being website was revamped to make access to resources and events more intuitive. For the first time, student well-being ambassadors were appointed to promote peer support. The traditional Well-Being Week once again engaged the entire community, focusing on four well-being pillars: personal, professional, mental, and physical.

RESEARCH AND KNOWLEDGE

Nova SBE’s faculty and research team, composed of 508 professionals, represents a core pillar of the school’s mission. It includes professors (63%), invited lecturers (29%), researchers (7%), and research assistants (1%). The team also includes 1.5% of staff with disabilities, reinforcing the school’s commitment to inclusion.

By promoting research focused on practical solutions that combine academic rigor with real-world usefulness, Nova SBE increases the participation of its faculty in public decision-making spaces. In 2024, two faculty members were appointed to key national advisory bodies: Cátia Batista joined the National Council for Migration and Asylum, and Ana Balcão Reis was appointed to the National Education Council. Both actively contribute to the design of strategic public policies in Portugal.

Academic Partnerships

In 2024, key highlights included the renewal of the ESG Novo Banco Chair (focused on education and research in sustainable finance across environmental, social, and governance dimensions) and the continuation of the partnership with the “la Caixa” Foundation and BPI. This partnership furthered the impact of the Social Equity Initiative, which in 2024 supported 8 projects, 2 academic chairs, and 6 knowledge centers. The initiative contributed to strengthening Portugal’s social sector ecosystem through data production, sector mapping, and the development of sustainable, high-impact solutions.

Research Unit

Nova SBE’s Research Unit saw substantial growth, from 73 researchers in 2018 to 112 in 2024. The unit also includes 84 PhD students and 13 research assistants. In 2024, it published 30 scientific articles in top journals (addressing topics such as female empowerment, sustainability, and regenerative tourism), maintained its “Excellent” rating from the FCT, and accounted for nearly half of all projects approved under the Economics/Management panel of the FCT’s 2024 Exploratory Projects call.

The school’s 9 Knowledge Centers and 1 Laboratory were involved in 25 scientific publications on sustainability, 17 international collaborations, 25 sustainability partnerships, and 81 sustainable impact projects or initiatives. Highlights include:

• Nova SBE Finance Knowledge Center promoted financial literacy through the ongoing “Finanças para Todos” project and research on climate risk and ESG.

• Nova SBE Leadership for Impact Knowledge Center led people-centered initiatives, with research focused on Future Leadership, New Organizational Models, and Diversity, Equity & Inclusion (DEI). Noteworthy events included Family Firms Leading for Impact, the 5th edition of the Social Leapfrog Program, and the launch of the Leadership & Well-being Observatory’s first Organizational Behavior Dialogues.

• Nova SBE Health Economics & Management Knowledge Center explored payment models, access in isolated communities, and mental health. Highlights include the HI-PRIX project and public policy discussions such as the Media Talk on the 2025 Health State Budget and policy recommendations for the Rare Diseases Action Plan 2025–2030.

• Nova SBE Data Science Knowledge Center led innovations in AI for sustainability, predictive analytics for energy transition, and blockchain for decentralization. The 3rd edition of the Data for Good Summit gathered over 200 participants and experts.

• Nova SBE Economics of Education Knowledge Center examined student performance trends, learning gaps from the pandemic, and public policy strategies. It hosted the 7th edition of LESE – Lisbon Economics and Statistics of Education Conference, fostering debate on systemic education reform.

• Nova SBE Open & User Innovation Knowledge Center focused on collaborative innovation and carbon strategies via blockchain, advancing projects like HealthEConnect, Citizens4Health, and Patient Innovation Bootcamp. It also hosted a seminar on platform governance and sustainability with blockchain in industrial markets.

• Nova SBE Environmental Economics Knowledge Center led research on climate adaptation, circular economy, and ocean sustainability. Notable events include the 11th AERNA Conference and training initiatives developed during the MIT Workshop on Climate Change Adaptation and the Ocean School.

• Nova SBE Economics for Policy Knowledge Center promoted public policy innovation in economic growth, inequality, and fiscal sustainability. Events included the Policy Dialogue Forum and the Annual Economics for Policy Conference.

• Nova SBE NOVAFRICA Knowledge Center focused on development economics, education, health, and financial inclusion in Africa. The 10th NOVAFRICA Conference explored climate impact, gender inequality, and microfinance innovation.

Research for Sustainable Development

In 2024, Nova SBE enhanced its participation in high-impact European projects focused on sustainability, inclusion, and environmental regeneration, such as:

• Horizon A-AAGORA – funded by Horizon Europe, this project aims to restore marine and coastal ecosystems and boost climate resilience in the Atlantic and Arctic basins through Nature-Based Solutions.

• WeGenerate – focused on inclusive, people-centered urban regeneration, this project uses co-creation methodologies to counter risks like gentrification and social exclusion while promoting equitable urban development.

• WIN-BIG – aimed at reducing gender inequality in the Blue Economy, this project examines female participation in six EU maritime basins and proposes capacity-building strategies in renewable marine energy, sustainable tourism, and blue bioeconomy.

Societal Transformation

Nova SBE continues to position itself as a school that goes beyond traditional academic teaching, promoting a social impact ecosystem, innovation, and active participation. The school encourages contributions from the entire community to meaningfully transform society.

Since 2022/23, participation in volunteer work has become a requirement in undergraduate programs through the Careers with Impact course, which aligns academic training with civic engagement, consolidating an education focused on purpose.

Students not only engage with their communities but also enhance impact actions through Student Clubs and the Student Union. Highlights include the reforestation project Take Care of the Forest, consulting initiatives by Nova Social Consulting (which support civil society organizations and small businesses), and events promoting corporate sustainability (such as Oikos Lisbon’s Green Talks and the Nova SBE Thirst Project).

Regarding inclusion, special mention goes to the work of the Nova SBE Pride Association Student Club, which fosters inclusion and social change by breaking down stigma and barriers, and the Nova SBE Mindspace and Nova SBE Growth Student Clubs, both focused on mental well-being, self-acceptance, and resilience.

Honoring its alumni and confirming its commitment to a cohesive, inclusive, and purpose-driven community, Nova SBE annually recognizes former students who embody and uphold the school’s values of excellence and impact. In 2024, Inês Ayer (featured in Forbes 30 Under 30) received the Outstanding Young Alumni award, Vitorino Mello Oliveira (UN diplomat) was named Alumni Ambassador, and Frederico Bello (edtech entrepreneur) was honored with the Role to Play award, recognizing those who inspire through their service to the community.

Institutes

Since 2023, Nova SBE has consolidated its position as a world-class research school, focusing on increasing scientific productivity and impact. This commitment led to significant investments in the PhD Program, research projects, and the creation of two new institutes:

• Nova SBE Public Policy Institute – created to foster high-impact research in public policy and bring academia closer to policymakers and civil society. The institute aims to train leaders capable of developing evidence-based innovative solutions.

• Digital Data Design Institute at Nova SBE and NOVA Medical School – launched in partnership with Harvard, this institute promotes interdisciplinary research to help companies adapt to digital transformation by linking academic knowledge to practical applications.

The school’s two other institutes also advanced impactful projects in strategic areas:

• Nova SBE Haddad Entrepreneurship Institute – now in its second year, supported 468 startups, incubated 165, and engaged over 1,500 students. About 18% of incubated startups focus on sustainability, particularly in the Green, Blue, and Space Economies.

• Nova SBE Westmont Institute of Tourism & Hospitality – stood out at international sustainability and ESG events, promoting themes such as sustainable tourism and the green transition. The 5th edition of the Hospitality and Customer Experience program ranked 2nd in Europe and 6th worldwide in the Eduniversal ranking.

A Space for Collaboration and Inclusion

The principle of leaving no one behind continues to guide Nova SBE’s work. In 2024, the school increased need-based scholarships, expanded the number of companies participating in the Inclusive Community Forum (from 58 to 75 organizations committed to inclusive hiring), and co-created a community garden accessible to people with reduced mobility.

The Nova SBE community also showed its spirit of solidarity through regular blood donation campaigns, hosting artistic residencies from Lisbon’s peripheral neighborhoods, and organizing drives for essential goods for NGOs supporting vulnerable populations.

The campus also hosted high-impact environmental and social initiatives such as the Cascais Smart Pole living lab (which implemented decarbonization solutions), the Girls for Girls women’s empowerment program, and political debates during the national elections.

Impactful Events

Nova SBE is, by nature, an open and inclusive community. To benefit the surrounding society and create positive and sustainable impact beyond academic boundaries, the school hosted over 1,800 events in 2024 and deepened its regular relationships with local municipalities, NGOs, and schools.

Highlights include:

• The Pontes event, a collaboration between Valor T (a project by Santa Casa da Misericórdia de Lisboa supporting the employability of people with disabilities) and Nova SBE’s Inclusive Community Forum. The event focused on supporting the transition of people with disabilities into active life and the job market.

• The 9th edition of the Estoril Conferences, which brought together more than 80 renowned international speakers and an audience of over 4,600 participants, reaffirming the conference’s relevance as a global platform for transformative thinking.

Organizational Sustainability

Nova SBE promotes diversity, equity, and inclusion (DEI) through numerous cultural and awareness initiatives, such as the DEI Dialogues (where faculty members share excerpts from relevant works on international awareness days) and celebrations like International Women’s Day. In 2024, this event featured renowned speakers discussing challenges faced by women locally and globally.

Regarding work-life balance, Nova SBE proudly maintains a growing workforce (from 385 employees in 2023 to 428 in 2024), with diversity and inclusion remaining central to its practices. Notable statistics include a stable rate of employees with disabilities (1.4%), a gender pay gap of 5%, and a reduction in staff turnover from 15.3% in 2023 to 12.9% in 2024.

All new employees undergo mandatory training in sustainability, DEI, and safety. Throughout the year, they have access to numerous individual development opportunities, such as short executive education programs and a six-month post-graduate course in sustainable development. The BOLD (Be an Outstanding Leader) program engaged over 40 senior managers in 120 hours of training in ethical leadership, effective communication, and social responsibility.

In mental health and well-being, the school expanded its on-campus psychological support services by increasing monthly hours from 48 to 66, now also covering the faculty.

Sustainability and Resource Management

Covering a total area of 41,454 m², the campus includes more than 65% green space and has made significant strides in sustainable resource management:

• Water: green spaces are irrigated using borehole water; the campus has 30 wheelchair-accessible fountains; all new students, staff, and faculty receive a reusable water bottle.

• Energy: about 11% of the school’s energy needs were met by 924 solar panels; the entire campus is equipped with LED lighting and motion sensors.

• Waste: improvements include new collection points for organic waste, better signage for recycling points, and systems for managing electronic, battery, capsule, and textile waste.

GREENHOUSE GAS EMISSIONS MONITORING

In 2024, NOVA University Lisbon made a decisive move toward sustainability by developing InNOVA, an autonomous information system designed to calculate its greenhouse gas (GHG) emissions and support the creation of a comprehensive Climate Action Plan. This initiative marks the beginning of a structured approach to carbon neutrality and climate resilience.

Based on cross-departmental data collection, Nova SBE completed its first carbon inventory update since 2019, revealing a total of 6,853.5 tons of CO₂ equivalent emitted in 2023:

• Scope 1 (direct emissions): 0.7%

• Scope 2 (electricity consumption): 5.3%

• Scope 3 (indirect emissions, e.g., purchased goods, waste, mobility): 94%