Madrid, March 13,2020
Bankia bets on EFFAS CESGA certification to train its professionals in ESG[i].
The in-fashion green certificate the managers of Santander, BBVA or Caixa are fighting for[ii]
The primary focus of the PTF-CRR was on identifying good reporting practices and assessing the level of maturity in the implementation of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, while also taking into consideration the climate-related reporting elements of the EU Non-financial Reporting Directive and the related European Commission non-binding guidelines.
Both headlines from recent digital financial news sites illustrate the rising popularity of the EFFAS Certified ESG Analyst (CESGA®) in Spain and how holders are in increasing demand. We have also published the article A day of ESG with KPMG and Forética[iii] on our webpage highlighting this interest.
Estrelladigital reported that Bankia has chosen the Certified ESG Analyst (CESGA®) certification, granted by the European Federation of Societies of Financial Analysts (EFFAS), to train its professionals in the integration of environmental, social and corporate governance aspects (ESG) in investment analysis. It states that 50 Bankia professionals will soon be trained in the programme developed by the Escuela FEF, the training centre of the Fundación de Estudios Financieros (FEF), to obtain this certification granted by EFFAS.
It continues that Bankia is committed to training its professionals in the integration of aspects related to ESG, which are increasingly included in investment decisions and form an important part of the management and analysis philosophy. Estrelladigital reported that another 100 professionals from Bankia will be trained in the subject by participating in a seminar given by the FEF School and that 16 Bankia professionals have already obtained this pioneering, internationally recognized professional certification in this field, not only in Europe but also in other important financial markets such as the United States and Hong Kong.
Jesús López Zaballos, president of EFFAS and director of the FEF School, states that 600 financial specialists have already gained this certification and he predicts that by the middle of this year there will be 1,000 professionals with this prestigious title around the world. In Europe, the countries with the highest number of ESG certified professionals through EFFAS are the United Kingdom, Germany, France, Italy, Finland, Portugal and Spain.
Interviewed by Bolsamanía, Zaballos specifies that, in Spain, EFFAS has already certified 115 professionals with CESGA, and more than 200 others could obtain it in short, to add up to approximately 320. Members of the large asset managers, including Santander Asset Management, BBVA Asset Management or CaixaBank Asset Management, have already targeted the title, confirms EFFAS.
Other Spanish or foreign entities with a presence in Spain that have part of their investment employees in the process of certifying that they have green credentials are Bankia Asset Management, BNP Paribas Asset Management, Deutsche Bank and DWS Investments, Mapfre Inversión, Andbank España and Tressis Gestión. There are also, some smaller ones such as CDC Valeurs Moyennes, La Banque Postale Asset Management, La Mútua dels Enginyers or Metzler Asset Management.
CESGA seeks to achieve "an efficient assessment, measurement and integration of ESG aspects in the analysis of investments” and can be studied online. The topics covered are the various methods for evaluating ESG aspects, the sources of ESG data and instruments, the analysis of the ESG quality of the portfolio or the impacts of ESG on the risk-return binomial. It is not mandatory, but it has become a ‘must’ in the industry. Analysts, fund managers and bankers are targeting a third-party fashion to demonstrate that they are green and socially responsible.
Now, in addition, the social and institutional pressure to invest in a greener and more sustainable way is very high and few entities want to be left out of the game. In fact, Europe is preparing a green taxonomy and will carry out stress tests on climate risk for funds and investment firms.
[ii]Full articles in Spanish https://www.bolsamania.com/fundsnews/noticias/profesionales/certificado-verde-moda-pelean-gestores-santander-bbva-caixa--7356492.html; https://es.investing.com/news/general/el-certificado-verde-de-moda-por-el-que-se-pelean-los-gestores-de-santander-bbva-o-caixa-1975556