Topics covered in this article:
1. The CFA ESG Certificate and the CFA Institute
2. CFA ESG Certificate: What and Who
3. CFA ESG Certificate: Drivers and Benefits
4. CFA ESG Certificate: Requirements, Registration, Costs and Availability
5. CFA ESG Certificate: Syllabus Structure
6. CFA ESG Certificate: Stats and Demographics
The CFA ESG Certificate and the CFA Institute
The CFA Institute
Other CFA Institute Programs
To obtain the CFA designation, one must pass three consecutive examinations (referred to as CFA L1, L2, and L3 in the graph below).
CFA ESG Certificate: What and Who
- Board Members
- Lawyers
- Journalists
- Marketing professionals
- Professors
- Environmentalists
- Supply-Chain managers
Drivers and benefits of doing the CFA ESG Certificate: is it worth it?
Below are the main drivers for pursuing the CFA ESG certificate, which also explains why it may be worth obtaining:
Candidates can take advantage of the opportunity to establish themselves as experts in ESG and equip themselves for new career and project opportunities within their organization in the ever-changing business landscape.
Candidates may seek to develop their knowledge of ESG and gain market recognition in order to enhance their professional profile and strategize a career shift.
Several global organizations have adopted the CFA ESG Certificate to educate their employees.
The CFA ESG Certificate is one of the Eligible Programs under the Pilot Green and Sustainable Finance Capacity Building Support Scheme (Program Identification Code: GTP-287225). Upon successfully completing the certificate, eligible applicants can apply for a subsidy of up to 80% of the exam registration fees, while full-time students can claim up to 100% reimbursement.
The CFA ESG Certificate is a globally recognized certification offered by the CFA Institute and is currently the leading ESG certification worldwide, based on the number of registrations.
The 2005 UNEP FI report and a more recent report published by the PRI in 2019 argue that failing to consider long-term investment value drivers, including ESG issues, in investment practice is a breach of fiduciary duty. Although controversial, this approach has been adopted by several investment organizations and professionals, resulting in an increasing demand for ESG skills and knowledge.
While some professionals may already implement ESG strategies in their roles, they may require a more comprehensive understanding of ESG factors – the “big picture” – to effectively integrate and incorporate them into their daily decision-making processes.
CFA ESG Certificate: Requirements, Registration, Costs and (Global) Availability
1. Requirements
The recommended study time varies between 100-130 hours depending on the candidate’s background. Investment or finance professionals tend to spend fewer hours than professionals with other professional backgrounds. You may check our article on How Hard is CFA ESG Exam to learn more about the difficulty level.
2. Registration
The CFA Institute offers flexibility, as there are no fixed exam dates, allowing candidates to schedule their exam at any time within the six months period. This flexibility enables candidates, particularly those working full-time, to manage and balance their careers, personal life, and studies.
3. Costs
The registration fee is $865 (for Version 5 or 2024 Edition). If the candidate needs a second attempt to pass the exam, the retake fee is $690. Candidates can also reschedule their exam with 72 hours notice before the exam appointment and a $30 fee.
4. Availability
a. In-person at a test center
Search for the CFA ESG test centers worldwide to check if it is a possibility. You may also find the availability of specific test centers (select CFA Institute and then ESG).
b. Remotely through OnVue remote solutions
This option is available depending on local regulations and system capability.
We suggest that candidates reach out to the CFA Institute at info@cfainstitute.org to inquire about the availability of the Remote Option in their country if the Test Center Option is not feasible.
CFA ESG Certificate: Syllabus Structure
| Chapter | Number of pages | Question allocation | Potential distribution of questions in the exam | Most challenging |
| 1. Introduction to ESG | 41 | 4 to 8 | 7 | 0% |
| 2. The ESG Market | 33 | 4 to 8 | 6 | 0% |
| 3. Environmental Factors | 100 | 8 to 15 | 12 | 16% |
| 4. Social Factors | 26 | 8 to 15 | 10 | 0% |
| 5. Governance Factors | 55 | 8 to 15 | 11 | 2% |
| 6. Engagement and Stewardship | 38 | 5 to 10 | 8 | 1% |
| 7. ESG Analysis, Valuation and Integration | 43 | 20 to 30 | 24 | 44% |
| 8. ESG Integrated Portfolio Construction and Management | 58 | 10 to 20 | 14 | 35% |
| 9. Investment Mandates, Portfolio Analytics and Client Reporting | 44 | 5 to 10 | 8 | 2% |
| 438 | 100 |
It is important to note that the CFA ESG book has around 599 pages. The 438 pages count in our table refers to relevant/content pages only.
CFA ESG Certificate: Stats and Demographics
Alma Mundus is grateful for the opportunity to support thousands of CFA ESG Candidates from over 140 countries since Edition 2 (2020/21). This experience has allowed us to constantly improve our Academy with CFA ESG Materials and Study Solutions.
Keep Focused. Keep Learning. Get Ready for the CFA ESG Exam!
