As an undergraduate in Italy, Tommaso Calcagno, MiF ’25, knew he wanted to tackle environmental, social, and governance (ESG) issues by working in finance, where he could maximize his impact. But he wasn’t quite sure how to get there.
He decided to pursue an advanced degree in finance, setting his sights on top US universities. “I wanted to do something related to sustainability and energy, but I didn’t know enough about the professional landscape to have a very clear direction,” he says.
Booth gave him that—and more. In professor Christian Leuz’s Navigating the ESG Landscape course, Calcagno gained the confidence he needed to work in the ESG space.
“It was instrumental in developing my critical thinking skills,” he says. “Looking into corporate and investment strategies to tackle sustainability challenges forced me to explore questions there aren’t clear answers for.”
Behavioral and Institutional Finance, taught by Robert W. Vishny, was another favorite. The course motivated Calcagno to become a fundamentals-driven investor, viewing the world through a realistic lens rather than succumbing to excessive optimism or pessimism.
Calcagno had a summer internship in San Francisco at CRC-IB, a boutique investment bank focused on renewable energy projects, which was later acquired by Canaccord Genuity Group.
As an analyst intern, he supported financial structuring and modeling, assisted with project due diligence, and helped manage transactions for renewable energy M&A and finance deals. “It was a great application of the finance skills I learned at Booth,” he says. Calcagno received an offer of employment soon after his internship and began working there full-time in February.
His role is multifaceted, involving financial analysis, transaction management, and negotiations for deal documentation, with the end goal of ensuring projects receive financing. “That’s the thing I like about the job,” he says. “As the world evolves, inevitably it’s the role of financial advisors to come up with new, innovative, and efficient ideas to help with clients’ challenges.”
Christian Leuz is the Charles F. Pohl Distinguished Service Professor of Accounting and Finance. Stefan Nagel is the Fama Family Distinguished Service Professor of Finance. Erika Kirgios is assistant professor of behavioral science. Robert W. Vishny is the Charles R. Walgreen Distinguished Service Professor of Finance.
