Certified EFFAS Environmental Social and Governance Analyst (CEESGA)

Step 1: Enroll in the CEESGA Programme offered by an accredited EFFAS National Member Society. If you are located in a country without a NMS please contact EFFAS Head Office for support (office@effas.com).

Prerequisite: none

Step 2:

• Pass the ESG exam organised by an accredited EFFAS National Member Society.
• Alternatively pass the ESG Common Exam organised by EFFAS.

In general, the objective is to make clear to participants the importance of ESG issues in investment processes. On completing the program students should be able to know and understand:

The CEESGA 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, corporates consultants, financial planners, and family offices who wish to embrace ESG integration holistically.

The CEESGA Programme is structured in 6 Modules:

vModule 1: "Wake me up"

The objective of this module is to draw attention of the participants on the overall implementation of the ESG; How to prove that ESG factors are important?

vModule 2: Fundamentals

The conceptual framework is tested to work ESG aspects in making investment decisions. The similarities and differences between ESG, RI, SI, SRI, impact, engagement, non-financial terms and the additional financial terms necessary for application in investment management are reviewed. The reasons for using the ESG, its implications, the regulatory framework and key ESG market drivers are described in this module.

vModule 3: Investment Process Chain

ESG integration process described in the investment process is essential for understanding the integration of ESG in the valuation process. Methodologies for the development of investment policies, allocation and asset selection, the process of monitoring and reporting are discussed.

vModule 4: Integration and assessment of ESG

Participants study, through practical examples, the integration of ESG in the process of valuation of investments, identifying value drivers of the ESG, measurement methods and their impact on cash flows, beta, external costs, etc. The various data sources (Bloomberg, GRI, EFFAS,) are reviewed and shown how to integrate KPIs in pricing models: DCF, multiples, forecasts based on critical evaluation of Bloomberg on valuation models "fit -for- purposes".

vModule 5: Responsible Investment across Asset classes

The aim of this module is to describe approaches to ESG from the perspective of portfolio management, analyzing the ESG in different asset classes with a focus on bonds and impact investment.

vModule 6: ESG Reporting

This last module focuses on corporate ESG reporting. The difference between mandatory and voluntary disclosure as well as difference reporting frameworks will be discussed.

Download the complete CEESGA Syllabus HERE (PDF)

For more information and enrolment to the Certified ESG Analyst contact the following partners:

France, SFAF

Spain, FEF

Germany, DVFA

Finland, FSFA

Italy, AIAF

EFFAS Hungary, HMPC

Sweden, SFF

For other countries please contact EFFAS Head Office (office@effas.com).