Certified Environmental, Social and Governance Analyst (CESGA®)
In total, more than 4,000 asset managers from around the world already hold the world-leading CESGA® title from the European Federation of Financial Analysts Associations (EFFAS)
Contact
Stefan Schummer
Start date
at any time
Examen Dates:
30th June 2023
29th September 2023
15th December 2023
Access to the study material for six month after registration
Downloads
Profit from the global development and become an ESG Expert with the international ESG Training Program
- ESG influences on risk and return from different perspectives,
- systematization of different ESG investment approaches and strategies,
- factors influencing further ESG integration,
- integration of ESG into the entire investment process chain,
- integration of ESG factors into valuation models,
- role of Responsible Investing across all asset classes; and
- different ESG Reporting Standards.
TABLE OF CONTENT
Module 1
Recent Developments in ESG integration
This module gives an introduction into the current state of sustainability integration within the financial sector. It discusses the drivers of the demand for ESG, the challenges associated with ESG integration and the existing barriers, as well as an overview of empirical studies on ESG investment and the implications for sustainable investment.
Module 2
Regulatory environment
This module gives an introduction into the current state of sustainability regulations in the European Union and international trends. It also describes the relevant regulations for corporations and investors and aims to present an overview of current international trends and future developments, which will shift the market landscape. It also discusses the interconnectedness between different regulations and future regulatory trends.
Module 3
ESG-Strategies
This module is focused on different strategies to incorporate ESG-considerations. It provides an overview of the current sustainable investment landscape and presents the different definitions and relevant terms regarding sustainable investment as well as a variety of strategies and their distinctive features.
Module 4
Responsible investing across asset classes
This module concentrates on different investment assets and the different ESG-considerations for each asset class. It provides an overview of the different asset classes and their unique perspectives on ESG. It reviews how ESG-strategies can be developed according to different asset classes.
Module 5
ESG Reporting (European orientation)
The objective of this module is to draw participants attention to the difference between reporting requirements and reporting frameworks. It aims to familiarize the participant with the key reporting frameworks and the ongoing trend toward convergence. It discusses what the main sources of ESG information are and the main ESG raw data issues as well as an explanation of the reasons why indicators are used. Additionally, it discusses the two dimensions of double materiality.
Module 6
ESG Integration in Research
This module analyses how to integrate ESG information into investment decisions. It discusses how to identify ESG value drivers based on global megatrends, how to conduct a qualitative analysis of corporate governance, particularly board effectiveness, how to analyse sector-specific environmental and social issues on a qualitative basis and finally based on the analyses performed, learn how to conclude by assessing consistency with the business model.
Module 7
ESG Integration in Valuation
The aim of this module is to discuss how to integrate qualitative analysis of material challenges into valuation models. To do so, we discuss how ESG information influences financial estimates. Furthermore, the module discusses the integration of ESG into valuation models for equities, fixed income, and other asset classes.
Module 8
Investment decision process
This Module discusses the investment decision in the context of the investment process chain. Participants learn the general steps of the investment process chain, understand the challenge of integrating ESG into the investment process and they familiarize themselves with the effect of ESG integration in the most important steps of the investment process chain.
Module 9
Case study – ESG integration in the investment decision
This practical module integrates all the knowledge and skills the students have gained in the previous eight modules to enhance the usefulness of the programme for their daily work and for them to acquire a framework to do a due diligence taking ESG into account. The module covers examples on research and portfolio management.
Module 10
ESG Regional Developments: ESG in Asia Pacific – where we stand*
This complementary module intends to present a summary on the regulatory framework in Asia, discussing the new developments in Japan, China, Hong Kong and Singapore and other Asia Pacific markets.
(*) this content is complementary and will not enter in the exam.
course STRUCTURE
The EFFAS and DVFA online ESG training program offers participants extensive access to study material (learning films, handouts, and case studies). The content is available to participants for six months. Depending on previous knowledge, we recommend about 70 to 90 hours for processing and preparing for the exam. After working through the material, the DVFA, in cooperation with EFFAS, offers a final examination.
The exam takes two and a half hours to complete and comprises 120 points. The exam consists of multiple-choice tasks (50%) and a case study (50%). The exam is passed if a total of half or more of the 120 points and at least 30 percent in each of the two parts is achieved.
The exam is expected to be offered four times a year. Please refer to the registration form for the exact dates. All materials and the exam are in English.
TARGET GROUP
The CESGA® programme is particularly aimed at financial analysts and portfolio managers who want to integrate ESG data in their capital allocation processes, but also, in general, all investment professionals increasingly committed to ESG issues.
Other specialists such as corporate sustainability officers, investor relations, auditors and consultants will find this course interesting to develop a better understanding of the needs of capital markets in terms of ESG information. Summing up it is ideal for asset owners, asset managers, corporate consultants, financial planners, and family offices who wish to embrace ESG integration holistically.
Our Experts
The CESGA® Training Program consists of an international team under the scientific direction of Prof. Dr. Alexander Bassen, University of Hamburg.
Aurélie de Barochez, CIIA
Corinne Baudoin, CEFA
Gunnar Friede, CEFA, CIIA
Hendrik Garz, PhD
Andrea Gasperini
René Nicolodi, PhD
Susana Peñarrubia Fraguas, CFA, CESGA
Ramón Pueyo
Teresa Royo, CESGA
Felix Schnella, CFA