T h e e r b I n s T I T u T e f o r G l o b a l S u S t a i n a b l e e n t e r p r i S e Y e a r i n r e v i e w 2 0 0 9

Q:What have we done in 2009?

t h e e r b i n S t i t u t e Y e a r i n r e v i e w 2 0 0 9 1

are sustainable business education programs teaching what they should? Can for-profit companies have a social mission? will “sustainability” really last?

alumni of the erb institute tell us questions like these—big, messy, profound and challenging questions—defined their erb experience and prepared them for tackling the decisions they make every day. So we think it’s only fitting that our annual report should be defined by the questions we ask in the class-room and far beyond.

Green business has evolved from concept to cliché to conventional wisdom. Corporations have undertaken a fundamental mind-shift in the way they approach sustainability, from carbon footprint reduction and cap-and-trade investments to whole-scale operational changes that support long-term health for both business and the environment.

the erb institute has both influenced this shift and helped the business world respond to it. this year, the work of our students, faculty and scholars spans almost every imaginable realm of sustainable business, from hybrid organiza-tions and human rights to clean technology business plan competitions and the “greening” of a monastery campus outside washington, DC.

Material recognition is not the main objective of our work. but we are proud to say that, due substantially to the erb institute, the ross School of busi-ness was ranked the top Mba program in the uS for social and environmental content in courses and research by the aspen institute in its 2009 beyond Grey pinstripes report.

these pages include some of the highlights of our faculty, alumni and stu-dents’ work over the past year, including some of the most exciting questions we tackled. You can learn much more about our 2009 research outputs and initiatives, the many events and speakers we hosted, our publications and media appearances, and the diverse and accomplished members of the grow-ing erb community, by visiting our website: www.erb.umich.edu. we’re proud of where we’ve come to but, more importantly, we’re excited by the questions that remain to be explored. in particular: what’s next?

Sincerely,

rick bunch tom lyon Managing Director Director

The Erb Institute marked its 15th anniversary

this year with a significant milestone: 105 stu-

dents enrolled for the 2009–2010 academic year,

up from 81 the previous year. The Institute’s

growth evidenced the increased importance

of sustainable business education, but it also

signaled a challenge: in a tough economic

environment, how would Erb ensure that its

A:

Erb students at

2009 or ientat ion

Dear Friends

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Q: Do green labels really make a difference?at a conference this spring, professor Tom Lyon recalled a new Yorker cartoon that featured a man being introduced by a woman at a dinner party. “he’s an economist,” the woman said. “but don’t worry, he’s really very nice.”

an economist by training, lyon is aware of the perceived limitations of his field, and challenges those limitations by engaging in an interdisciplinary way with his colleagues at the university of Michigan, in the wider academic community, and in the corporate world, as well.

the author of the forthcoming Good Cop, Bad Cop: A Look at NGO-Corporate Partner-ships, lyon provides institute-wide leadership in almost all areas of erb’s operations, from the classroom to the external advisory board. as an economist, tom brings a unique perspective to the challenges and opportunities of sustainable business, and has been asked to bring that perspective to bear on panels concerned with nafta and free trade, as well as the national Summit on Sustainability that brought together policymakers and fortune 500 corporate leaders in the summer of 2009.

among the questions tom has wrestled with is, “Do green labels really matter?” in recent months and years, there has been a proliferation of labels that endorse a product’s eco-friendliness. Seeing the number of labels grow, tom asks whether they drive consumer decision-making and therefore make a real impact on market behavior.

“if you’re in a drugstore and the lip balm you’re browsing is marked with three eco-friendly labels, does that make you more likely to take it to the register?” asks tom. “what about two labels, or four? and do consumers really know what those labels mean? these are important questions because companies are investing a lot in eco-labels—is this money well spent?”

tom’s research also has asked, “what is the future of China and coal?” a topic he ad-dressed in an opinion piece that appeared in barron’s in 2008. tom’s article provided insight into the need for a heavy—and collaborative—role for the uS government in ad-dressing greenhouse gas emissions in the developing world.

students had access to great job opportunities

both during enrollment and after graduation?

profiles in Change: alumni and Students Making an impact

The Erb Institute offers a dual MBA/MS

degree, but our vision is bigger than the

acronyms. Our aim is to empower our

students to think creatively and differently

about sustainable business so that they emerge

as business leaders and agents for change.

In addition to our leading-edge educational

programs, over the past year we have placed

students in a variety of high-level positions

throughout the corporate, government and

NGO sectors, from new “green” positions with-

in traditional companies to entrepreneurial

roles within start-ups to advisory jobs within

government agencies. In the facing pages

of this report, you can “meet” just a few of the

remarkable students, alumni, and faculty doing

creative, challenging and innovative work.

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Anticipating increased need for great work

opportunities, Erb greatly expanded an innova-

tive internship program this year in partnership

with its donors, non-government organizations

(NGO) and government agencies. The program

included Erb underwriting a portion of the

salaries of students who choose NGO or

government work, jobs which might not

compensate as well as equivalent positions

in the private sector.

The Institute shared in accolades for the

sustainable business leadership of the Ross

School of Business. Ross secured second place

globally in The Aspen Institute’s Beyond Grey

Pinstripes report, a biannual ranking of the

best sustainable MBA programs in the world.

Ross also rated first among US institutions

and first globally in the “For-Profit Impact”

category, reflecting its continued commitment

to offering courses that promote business’

role as an engine for social and environmental

change.

Q: Should oil be cheap?this was the title of a 2008 article in BusinessWeek that quoted Andy Hof fman . and it’s a big question—americans have taken cheap energy, both in business and in their personal lives, for granted. Suddenly, as gas prices peaked in the summer of 2008 and as the recession put the squeeze on all companies, the idea that oil comes without an environmental and social price came into question.

“taking ‘green’ out of the realm of politics and into the real-world challenges that businesses face is a major challenge for sustainable business students, academics and strategists,” says andrew hoffman. a building contractor by training who made a transition into academia, andy is both a visionary thinker and a practical planner when it comes to confronting sustainable business issues.

the author of several books, including Climate Change: What’s Your Business Strategy? (harvard business press, 2008), andy provides leadership to erb institute students working on a diverse collection of projects. for example, this year found andy overseeing a group of students charged with designing a strategy for a virginia monastery that sought to transform its campus into a sustainable ecosystem that matches its ethical and moral values. andy also lent his expertise to the foreword of Hybrid Organizations, a master’s project published as a book by Greenleaf publishing, as well as advising on the creation of Sustainable Hospitality, a report on “green” hoteling.

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what is the right way to think about sustainable business?

This fall, our first-year students have been

immersed in the Erb Seminar, re-imagined to

encourage students to use systems thinking

and a holistic point of view to understand,

approach, analyze and, eventually, lead

sustainable businesses.

The seminar, taught by Associate Director

and Max McGraw Professor of Sustainable

Enterprise Thomas Gladwin, has a bold goal:

“mind-shifting for sustainable enterprising.”

Students get a c lose-up

look at a roof top so lar

ar ray on the U-M’s

School of Natura l

Resources and Env i ron-

ment Dana Bui ld ing

Q: How does traditional business education fail to address 21st century business challenges?Tom Gladwin ’s enduring commitment to looking at the world of business in new ways has made him an invaluable part of the erb institute’s faculty. tom asks the hard questions—why do we teach business a certain way? how can we think differently about businesses to enable truly sustainable strategies and practices? how will the business decisions we make today affect our children’s children’s children?

“Given the current focus on global human rights violations, climate change and other social issues, you would expect the world’s business schools to be focusing the minds of their students and faculty on constructive corporate engagement with global systemic social challenges,” says tom. “but that’s not happening.”

to help address this lack, tom re-engineered the erb institute first-Year Seminar this year to shine a light on the complex set of factors and systems at play in modern, global business. tom has a bold goal for the course: “mind-shifting for sustainable enterprising.” in the class, he aims to re-frame students’ thinking on how sustain-able businesses should be formed, created and run. Systems-oriented, ethical and biospheric paradigms are all part of the curriculum, and each student in the class develops a personal plan for shaping their approach to sustainable business throughout their three-year erb experience.

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Brought down to Earth, that means first-year

students are encouraged to challenge assump-

tions and models taught within traditional

business education, where organizations and

roles are rigidly siloed. Gladwin’s systems

approach breaks down those silos, leveraging

systemic thinking, ethical thinking and bio-

spheric thinking and providing each student

with a personal plan for shaping their approach

to sustainable business throughout their tenure

at the Institute.

Climate change: what’s your business strategy?

Beyond the first-year seminar and other inven-

tive courses offered at The Institute, we’ve

begun to explore Executive Education as a

logical extension of our program’s offerings.

The spring of 2010 brings

our first foray into this arena,

with Holcim (U.S.) Profes-

sor of Sustainable Enterprise

Andrew Hoffman and Dow

Professor of Sustainable

Q: What takes an Indian-born consultant in Singapore to the backroads of Mali and the con-vention halls of Copenhagen?Amri ta V i jay Kumar , a “career switcher” who spent five years with pricewater-houseCoopers in Singapore, came to erb with a broad sense of how she might want to influence businesses’ sustainability practices.

now, amrita finds herself bridging the worlds of private sector finance and business incubation, focusing on climate change and resource management in emerging markets. She spent her summer 2009 internship with e+Co, a social venture fund that provides business advisory services and capital to clean-energy entrepreneurs.

“these enterprises help wean people in places like africa and india off fossil fuels, moving them up the energy ladder,” says amrita.

She worked with entrepreneurs in Mali and Ghana selling cookstoves more efficient than charcoal-burning models. e+Co aimed to help the owners scale their businesses and understand their barriers to growth.

“with all the carbon finance [available] out there, these businesses could earn carbon credits to subsidize the cost of the stoves,” she adds. amrita helped the entrepreneurs figure out how to scale the business from 30,000 to 300,000 stoves per year, using these carbon-finance flows.

back in ann arbor, amrita discovered an opportunity to join the fall, 2009 un Climate Change Summit. Joining a group who got u-M “official observer” status, she raised money and eventually attended Cop15.

“there was a strong focus on innovative financing for this huge change that we need to catalyze over the next 2–20 years,” says amrita. “i realized that the education i’m getting at erb is preparing me to play at the highest levels of climate change policy and practice right out of the gate.”

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Science, Technology and Commerce Thomas

Lyon leading a seminar for executives entitled

“Climate Change: What’s Your Business

Strategy?” based on the findings and insights

within Andy’s recently-published book by

the same name. Andy and Tom will present

the seminar with 2007 Nobel Peace Prize

Co-Recipient Henry Pollack.

how does the erb institute collaborate with like-minded institutions?

The Institute also focused on building

relationships with businesses and academic

Erb hosted the f i rs t -annual

conference of the A l l iance

for Research on Corporate

Susta inabi l i t y

Q: Can “sustainability” really last?Maybe not, says David Fr ibush , Mba/MS ’10. but that might not be a bad thing.

David, who came to the erb institute with a background in film and video production, sees “sustainability” as unnecessarily limiting. “to me, sustainability is not an excit-ing concept,” he notes. “it implies that we’re just trying to keep from falling over the environmental cliff we’re not giving people a vision of the future to aspire to.” in place of sustainability, David offers “thrivability.” ‘thrivability” is at the core of the erb institute, he says.

“we’re not just about making marginal improvements but a radical rethinking of how to make products truly cradle-to-cradle, of imagining a future where energy provides not just for our needs but also creates jobs and makes us healthier. the erb vision is not just of a ‘sustainable’ world that stays the same, but one of a radically improved world,” explains David.

while at erb, David has completed summer internships with Johnson Controls and vermont energy, both focused on smart grid technologies, strategies and policies. “it’s clear to me that ‘thriving,’ especially in developing economies, will require greater availability of electricity,” he notes. “for too many people, ‘sustainability’ suggests giving up many benefits of modern living such as access to abundant electricity. but solutions like Smart Grid will help make a sustainable world look like one in which people want to live—and thrive.”

fribush aims to bring his dual focus on sustainability strategy and strategic communications to bear as he re-enters the professional world this May.

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institutions seeking to better understand and/

or implement sustainability programs. On the

academic side, Erb hosted the first-annual

conference of the Alliance for Research on

Corporate Sustainability, a consortium of

academic institutions including the Darden

School of Business at the University of Virginia,

Harvard University, Duke University and the

University of Western Ontario.(Read more on

website “Conferences’ page).

In addition, Erb also served as home base for

the Sustainable Energy Fellowships program,

Susta inable Energ y

Fe l lowship students

tour a “green roof”

Q: What do human rights have to do with environmental sustainability?“when i think of human rights and environmental action, it’s about justice,” says ford Manager for Social Sustainability and erb institute external advisory board Member Dave Berdish . “when you extract raw materials and nonrenewable resources, it impacts the people who live there.”

Dave points out that even “green” initiatives need to be examined for their human impact. “until now, environmental initiatives have been based on [figuring out] will people pay—for solar, for electric batteries, wind power, etc. but that’s only two legs of the stool —you have to think about the social elements.”

for example, he continues, “in my industry, we are trying to put many more electric vehicles on the road. but, much of the lithium we need for batteries is mined in China, paraguay, bolivia and uruguay, where human rights issues have not always been addressed. “

Dave was a founding member of ford’s social sustainability department in 2000; a year later, he started lecturing at u-M and joined the erb external advisory board. working from within a traditional company, he says he can help students understand that “you’ll have to beat your head against the wall until it’s bruised to change people’s ingrained thinking about sustainability.”

Dave emphasizes that what he learns himself—as a guest lecturer, an eab member and manager to erb interns every summer—makes it so rewarding.

“every summer, i get one or two ideas about technologies i can put in the sustainable mobility program,” he notes. “and because students also often have internships at nGos, i get valuable perspectives on those organizations’ impact and how that can be applied in my work.”

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which drew 40 master’s and undergraduate

students to The Institute to address issues

and strategies related to sustainable energy.

The program is a partnership with Arizona

State University, MIT, Duke and Cornell

Universities, along with the Shell Corporation

and Ford Motor Company.

Finally, in November, we co-hosted the

CleanTech Symposium, along with the Zell

Lurie Institute for Entrepreneurial Studies at

the Ross School of Business. Leading experts

from the private sector, academia, governments

and NGOs explored what works and what

C leantech Symposium

panel d iscuss ion

Q: Can one entrepreneur change whether companies buy in to solar power?Jenni fer McLaughl in ’s passion is for making a meaningful difference in the world. Specifically, Jennifer, Mba/MS ’10, is interested in how corporations can make change for future generations. Jennifer has used her Snre master’s project and an internship at ford Motor Company to put herself on a professional path to do just that. working with Dave berdish, a ford “intrapreneur” who manages human rights and sustainability programs for the automaker, she has been exploring “new mobility” in her master’s work, focused on moving goods and resources in more sustainable and equitable ways. in particular, she and her colleagues have looked at slums in sub-Saharan africa, considering their transportation needs in light of rapid social changes.

“personally, i enjoy looking at things through multiple lenses and looking at the world from different perspectives,” says Jennifer. “that’s why i was drawn not just to business or the environment in a [graduate] program. i can see these issues in different lights.”

a former active-duty engineer in the u.S. air force, Jennifer will graduate erb as an entrepreneur with a vision for helping companies implement solar power. her venture, nalu enterprises, already is producing solar panel implementation designs for custom-ers and includes plans for a software arm that will help companies integrate solar power more efficiently into their operations.

Jennifer, whose husband is her business partner at nalu, says that the springboard for the business was the ross School’s new venture Creation course. She’s entering the company’s business plan into a few competitions this winter and aims to officially launch soon after. Stay tuned!

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doesn’t in the current ecosystem of building a

cleantech business, including policies, invest-

ments/exits and the innovation pipeline.

Of course, our exceptional growth and innova-

tive programs would not have been possible

Alumni Mark Tholke at

the Shi loh W ind Power

P lant in the Montezuma

Hi l ls of Solano County,

Cal i forn ia

Q: Why is alternative energy so important?when Mark Tholke , Mba/MS ‘03, did research for the pew Center for Climate Change, he became “alarmed at the prospects of the impacts of climate change.”

wanting to make a positive difference, he decided that a role in business would lead to the fastest measurable impact.

now, as a director for enxco Development Corporation, an alternative energy provider, Mark sees that his work “has a very tangible and immediate effect. i feel urgency about climate change, and building these projects helps me feel i am a link toward addressing the issue.”

Mark originates and develops large utility-scale wind and solar photovoltaic projects. for wind projects, that means about 60,000 homes per project, and for solar projects, between 1,000 and 100,000 homes.

according to Mark, the erb Mba/MS program provided him with the interdisci-plinary skill set to get directly involved in the alternative energy industry. “as a developer, on any given day, i could be negotiating with a farmer, with a sophis-ticated utility, running a financial model or talking with an electrical engineer on interconnection. erb’s grounding in both business and environmental science prepared me for a role like this.”

immediately after erb, Mark went to Ge wind, where he sold wind turbines. he soon realized he wanted to be on the side that, in his words, “creates the projects that will buy the turbines,” an aspiration that led him ultimately to enxco.

a self-described “doer,” Mark isn’t afraid to share his frank point of view on alter-native energy and its vital role in addressing climate change. want to hear it for yourself? Search for him on Youtube.

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without the ongoing and generous support of

the Erb Family Foundation and many other

donors, whose continuing support helped

foster all of the outstanding work our students

and staff have undertaken in the past year.

innovation from within: faculty thought leadership

Should oil be cheap? Will China stop using

coal? Do “green” labels matter? Will religious

faith shape the future of sustainability?

These are just a few of the questions that our

faculty experts have explored in the past year,

through books, published articles, master’s

project advising and, of course, in the class-

room. Highlights of our faculty’s work are

included below.

In the media:

• Erb Director and Professor Thomas P. Lyon

provided insight as part of a Town Hall

discussion among CEOs of FedEx, Office

Depot and Delta Airlines at the National

Q: How many greenies does it take to change a business?Maybe just one.

Beth Uhlhorn , Mba/MS ’10, always knew that she wanted to study something environmentally focused in graduate school, but it took a banker to show her the value of business training.

“i was working at the world wildlife fund and with banks on their environmental policies, and my boss was a banker,” she recalls. She saw that she needed business skills to make an impact on sustainable business strategy.

erb opened her eyes to a very different world. her Mba Multidisciplinary action project gave her a leadership role working with a company that hadn’t even taken first steps toward sustainability. “i hadn’t imagined that companies like that even existed,” she laughs.

beth also participated in the husk insulation business plan team that won the prestigious 2009 Mit Clean energy prize of $200,000.

now, beth finds herself in new professional territory. She has accepted a job with Dow Chemical, where she interned for the past two summers—and which, she notes, is “not often seen as an environmentally friendly company by the general public.”

but beth sees this is as a tremendous opportunity to apply her skills in a way that will bring real, measurable success and progress on Dow’s strategic road to sustainability.

“the experience i’ve had helped me learn how to make the business case for sustainability,” she says. whether it’s about new government regulation, or reducing costs, or brand enhancement, beth notes, companies need to know how to have those conversations internally to make a difference on the outside.

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Economic Summit in Detroit in early June.

As a result, Lyon’s comments were included

on CBS radio and on PBS Now

• Associate Director and Professor Andrew

Hoffman contributed an article on business

schools and sustainability to CRO magazine

in February

• Thomas Lyon authored an op-ed in Barron’s

regarding climate change, US policy and

China

• CNBC highlighted the work of Erb Institute

students and graduates in a story about

green jobs

• MSNBC discussed how to “Turn Green

into Green” with comments from Andrew

Hoffman

During the 2008–2009 academic year, Erb’s

faculty published numerous books and

articles, including Andrew Hoffman’s Climate

Change: What’s Your Business Strategy?, pub-

lished by the Harvard Business School Press.

Q: When is a dual degree more than the sum of its programs?Colm Fay , Mba/MS ’12, is part of a team of students benchmarking the erb institute against similar programs to illuminate characteristics that employers seek in a sustainable enterprise expert. working with colleagues from the ross School and the School of natural resources and environment, Colm has found that the answer is in erb’s philosophical commitment to collaboration.

Colm, who was with accenture before joining erb, says that he sought a collab-orative approach that would give him both high-level management and credible business skills, all through the lens of sustainability. “this is how i like to work, how i’m most effective,” he says. “i like to understand both the details and the high-level strategy.”

this “balance between thinking and doing,” as Colm calls it, was what helped draw him to the erb institute community. and collaboration is the glue that holds it together, Colm says. “there’s a sense that if i can help you with what you’re working on, that benefits all of us,” he notes. “it’s an attitude that’s very different from other Mba programs.”

Colm believes that this supportive, multidisciplinary approach distinguishes erb graduates to employers, as well. employers, he says, increasingly demand that candidates understand both the technical details and the strategic theories of sustainable business—and that candidates be able to work with stakeholders on all sides of a problem. “we’re getting away from the scenario where there are pure sustainability jobs out there.”

the future of sustainable business, he says, is in knowing the balance between thought and action—and in working together to create that balance.

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Hybrid Organizations was pub-

lished as a book of case studies

about this new kind of socially

oriented, for-profit company by

Greenleaf Publishing in mid-

2009. The book, co-authored by

2009 MBA/MS alumni Brewster

Boyd, Nina Henning, Emily Reyna, Daniel

E. Wang and Matthew D. Welch, grabbed

the attention of the Harvard Business Review,

which included a contributed article from the

authors on its website; and sustainable busi-

ness website Triple Pundit, which included a

review of the book in September 2009.

Faculty members also provided leadership

on master’s projects such as an initiative to

“green” the entire campus of the Holy Cross

Abbey in Clarke County, Virginia, a project

drawing on students’ expertise in both the

scientific theories of sustainability and the

practical application of green building tactics.

Q: What does shuttle diplomacy have to do with sustainability?in the 12 years since Jenni fer Layke , Mba/MS ’97 graduated from the erb institute, she has shaped public and business policy on environmental issues as deputy director of the world resources institute’s (wri) Climate and energy program. Jennifer credits her dual Mba/MS qualifications with her ability to build partnerships among policymakers, nGos and the business community.

“i’ve had success building partnerships because i understand where corporations are coming from thanks to my Mba course work,” Jennifer says. “i bring an understanding of sustainability challenges and the need to build out an agenda that is not central to business.”

Jennifer notes that sustainability issues are not generally considered in day to day decisions made by business leaders—but that these issues can, should and do shape decision making. So she provides “shuttle diplomacy” between the business and policy community, working with Ceos who are making decisions about how to shape their businesses and policy makers who are debating larger societal goals.

an example? Jennifer’s the staff negotiator on the u.S. Climate action partnership (uS Cap) involving dozens of major companies and nonprofits. the goal is to craft a legislative agenda to help Congress advance climate policy.

erb’s multidisciplinary approach, which includes classes on negotiations, business strategy, governance and many others, enabled her to follow this path. “i had a better toolkit than most of my peers when i set out to tackle the big questions in practice.”

another example of her cross-sectoral capabilities? Shortly after sitting for this pro-file, Jennifer announced that she was joining Johnson Controls, inc. to create a new internal institute on building efficiency!

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Erb Di rector Tom Lyon

confers wi th doctora l

student Nicholas Powers

Scholarship and award highlights

The Husk Insulation team took top honors and a

$200,000 prize in the MIT Clean Energy business

plan competition held in the spring of 2009.

The all-Erb Algal Scientific team was honored

with first place in the DTE Clean Energy

competition last spring.

Erb MBA/MS candidates also played leadership

roles on the Ross School of Business chapter

of student organization Net Impact, which was

recognized as the best chapter in the country in

2008 for the third year running.

Q: Do scientists belong in the corner suite?at first glance, the answer might seem obvious. a scientific background, after all, is essential for leaders in many industries, like pharmaceuticals and chemical manufacturing.

but what about scientists who want to influence environmental policy from within any—and every—organization? Marcos Mancin i , Mba/MS ’12, came to the erb institute as a biologist who worked to influence alternative energy and clean technology initiatives with an environmental consulting firm in his native argentina.

“You can think that you can deal with environmental problems as a scientist or as a business problem,” notes Marcos. “but this trend is changing…the ability to deal with sustainability issues hinges on integrating the science with the business.”

Marcos adds that it was his science background that brought him to the business world. as an environmental consultant, he saw that scientists had to compromise in order to make business decisions feasible—and that the last word on any envi-ronmental question belonged to business decision makers, not scientists. “even when it was a win-win situation to make a ‘green’ choice, it was viewed as a cost rather than an opportunity,” he explains.

with his strong nonprofit background, Marcos sees himself pursuing professional opportunities that enable him to work with the triple-bottom line, where he can help alleviate poverty while addressing global environmental problems, perhaps from within a social entrepreneurial or nGo role. “Knowing the science and know-ing the business and being able to pursue a business-oriented job will help me make a greater impact,” concludes Marcos.

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Q: Can thinking smaller lead to a more sustainable future?

Michael Hokenson Mba/MS ‘05, cofounder and managing director of Minlam asset Management, thinks it can.

while studying a Cambodian microfinance institution during his masters project research, he discovered a new strategy for microfinance debt management that be-came the business model for Minlam, which employs seven full-time professionals, manages about $50 million in assets and supports more than 18,000 projects in each fund cycle (about 7 months long).

for Mike, microfinance was a natural path because it represents the idea that attracted him to attend the erb institute: that the future will be defined by activities and ideas that integrate the financial, the social and the environmental.

a new Jersey native whose business is based in new York City, Mike travels exten-sively, conducting due diligence on fund investments in developing areas such as latin america. “it’s a global effort,” he says. “we’ve worked all over the world, creat-ing structured deals that make money available that was previously unavailable.”

Mike adds that it was the concept of microfinance that drew him to apply to erb in the first place, where he felt he could study the business models around microfi-nance and develop his own business strategy. “when i learned about a european microfinance fund, i realized this was where i wanted to be,” he says.

in other words, Mike’s journey through erb took him full circle, from an idea about microfinance, deep into the theories and strategies behind it, and back again to a place where the ideas and the strategies combine to propel his business forward.

$1 Mi l l ion+

Frederick A. and Barbara M. Erb

$750,000 – $800,000

McGraw Foundation

$150,000 – $300,000

Peter and Carolyn Mertz Jo Ann and Stuart Nathan

$40,000 – $50,000

Gray Boyce and Thomas Bliska JrSteven and Barbara Percy

$20,000 – $25,000

Friedman Family FoundationGeorge Pilko Family Foundation Ford Motor Company

$2,500 – $5,000

General Motors FoundationRyan Waddington / Ziff Brothers Drs. Russell Chavey and Christina Winder

$1,000 – $1,500

Elizabeth SchubinerKevin GreinerJonathan KochBrian Swett Richard Chandler / BP America

$500 – $700

Bryan Magnus / HoneywellMatthew RomanBrian BrentonMark Milstein Melissa Vernon

$300 – $400

Matthew GarrattRebecca NadelKathleen JuddAlan W. Phipps

$100 – $299

Michele Diener Maia Sallouti, Accenture FoundationMeghan Chapple-BrownMatthew JohnsonRobert Tierney / United WayJeff ManternachRachel SylvanMichael BaratoffLaura KaminskiMichael Horn, GE FoundationCharles HornbrookMark Tholke and F. McCamant Nathan Arbitman and Marianna SachseElizabeth Terry, Duke Energy Foundation

$50 – $99

Jonathan NewtonJennifer LaykeKenneth SuDr. Donald ClevelandCynthia Manson and T. LaValleeAlex Keros

$25 – $49

Matthew and Jessica StoutKristofer JaddJessica Brinkman Urdangarin

Donor Honor Roll Includes contributions received between 7/1/08 and 12/31/09

28 t h e e r b i n S t i t u t e Y e a r i n r e v i e w 2 0 0 9 t h e e r b i n S t i t u t e Y e a r i n r e v i e w 2 0 0 9 29

Our mission is to produce transformative tools, knowledge, and leaders that work to create socially and environmentally sustainable economies. To this end, the Institute fosters professional education, public outreach and scientific scholarship supporting leaders and change agents in moving societies toward more sustainable futures.

The Erb Institute administrative offices are located in the Ross School of Business and in the School of Natural Resources and Environ-ment. Detailed maps and directions may be found on our website at: http://www.erb.umich.edu/About/Contact-Us.htm.You may also contact us at erbinstitute@ umich.edu.

Additional copies of this report may be downloaded from our website at: http:// www.erb.umich.edu/About/Annuals.htm

Faculty and Staff

Thomas P. LyonDirector, Dow Chemical Professor of Sustainable Science, Technology and Commerce, Ross School of Business

Andrew J. HoffmanAssociate Director, Holcim (U.S.) Professor of Sustainable Enterprise

Thomas N. GladwinAssociate Director, Max McGraw Professor of Sustainable Enterprise

Richard J. BunchManaging Directorrbunch@umich.edu / 734.764.2521

H. Dominique AbedMarketing Communications Specialisthdabed@umich.edu / 734.763.8155

Cynthia A. ClevelandMBA / MS Program Coordinatorcyndyc@umich.edu / 734.647.9709

Karen HoughtalingFinancial Administratorhoughtak@umich.edu / 734.647.6621

Julie KwonStudent Intern julikwon@umich.edu / 734.647.9799

Henry Ladd Events Coordinator hladd@umich.edu / 734.647.9799

About the InstituteMajor Donors

The Erb Institute for Global Sustainable Enterprise is funded entirely through the generosity of private donors, led and in-spired by the founding vision of Frederick A. and Barbara M. Erb. Our endowments and operating funds support student scholarships, internships and masters projects; events, speakers, conferences and outreach through the media and pub-lications; and groundbreaking teaching and research of our faculty. As enrollment in the Erb MBA/MS program has surged over the past several years, demand for our programs and services has also grown, making the support and engagement of our donors more important than ever. The faculty, students and staff of The Institute wish to express our heartfelt thanks to the donors listed here, as well as numerous other advisors and program contributors.

Founders

Frederick A. and Barbara M. Erb

Sponsors

Diamond

Dow Chemical CompanyHolcim (U.S.) CorporationMcGraw Foundation

pla t inum

Stuart & Jo Ann NathanBurton and Molly Vincent Foundation

Gold

Alcoa FoundationPeter & Carolyn MertzPharmacia Corporation

Si l ve r

Ford Motor CompanyLee Gorman & Mark RitzSteven & Barbara PercyWeyerhaeuser Corporation

bronze

CMS EnergyGray Boyce & Thomas Bliska, Jr.

Cover photo taken by MBA /MS Erb ’11 student Sean Killian while traveling in India for an internship. Printed on Cascades Rolland Enviro 100, an FSC-certified paper using 100% post-consumer fiber processed chlorine free using biogas energy.

Designed by Savitski Design, Ann Arbor. Printed by University Lithoprinters, Inc., Ann Arbor

15

YEARS

E R B I N S T I T U T EF R E D E R I C K A . A N D B A R B A R A M .

F O R G L O B A L S U S T A I N A B L E E N T E R P R I S E

U N I V E R S I T Y O F M I C H I G A N