The CFA Institute Certificate in ESG Investing is a professional credential demonstrating a practitioner's understanding of environmental, social, and governance (ESG) investing. This designation is especially relevant as Environmental, Social, and Governance (ESG) investing is becoming increasingly sought-after by investors looking to positively impact the world while also achieving their financial goals.
The CFA Institute regularly reviews the Certificate in ESG Investing exam to ensure it is up-to-date and relevant. The latest curriculum update will be implemented in January 2024.
CFA ESG New Version:
Introducing the CFA ESG New Curriculum, Version 5, now known as the 2024 version, brings forth a crucial change in the registration process, marking a significant shift in the examination paradigm. In this new approach, candidates are tested based on the specific version they register for, promising an enhanced and more aligned experience with the curriculum studied.
Beginning 1 January 2024 the registration fee will increase to USD 865. This coincides with the release of the 2024 Certificate in ESG Investing which will include an updated curriculum with new case studies, additional practice questions, and a second mock exam.
CFA ESG Certificate - 2023 Version
Candidates enrolling for the CFA ESG Certificate until the conclusion of December 31, 2023, will undergo examination based on Version 4 or the 2023 Edition, irrespective of the chosen exam date. Upon registration, candidates are granted a six-month window to complete the exam. For example, a candidate registering on the final day of December 31, 2023 (the last day for Version 4 registration), will be afforded until June 30, 2024, to undertake the exam.
CFA ESG Certificate - 2024 Version
Candidates enrolling for the CFA ESG Certificate throughout the entirety of the calendar year 2024, starting from January 1 to December 31, will undergo examination based on Version 5 or the 2024 Edition, independent of their chosen exam date. Upon registration, candidates are afforded a six-month timeframe to complete the exam.
Study Materials:
To make studying straightforward and effective, the CFA Institute gives candidates materials that match the version they've signed up for. This shows the Institute's commitment to providing a focused and smooth study experience. Study Guides: CFA ESG Certificate - 2024 Edition vs. Previous 2023 Edition For all registered candidates, the CFA Institute offers materials that directly relate to the version they'll be tested on, making the study process more accessible and tailored to individual needs.
Additional Mock Exam
Starting with the 2024 (v5) curriculum, we will provide an additional mock exam, making two total mock exams available for candidates to practice and achieve success.
Curriculum Updates: CFA ESG 2024 vs. CFA ESG 2023
The CFA ESG 2024 course structure maintains its familiar framework with nine chapters and a comparable page count. However, this updated curriculum introduces extra material to specific chapters while addressing errors and making improvements from the previous version.
In the CFA ESG 2024 Version curriculum, Chapters 2, 3, 7, and 9 have undergone revisions:
Notably, Chapter 2 no longer includes the "History of ESG Investing."
In Chapter 3 a new topic has been incorporated, focusing on "Nature Assessment and TNFD Framework."
Chapter 7 sees the removal of four sections, replaced by three new sections, leading to a reorganization of the chapter.
- Removed: Why Investors Integrate ESG?; Valuation and Company Integrated Assessment Stage and the Challenge of Company Disclosure on ESG Topics; Discussion of Private Markets, Real Estate, and Infrastructure; Discussion of ESG in Fixed Income and Differences to Equity; and Challenges to ESG Integration; Fixed Income, Credit Rating Agencies, and ESG Credit Scoring.
- Added: ESG Integration in Listed Equities: Valuation Considerations; ESG Integration in Other Asset Classes: Fixed Income; ESG Integration in Other Asset Classes: Real Estate and Private Markets.
Furthermore, in Chapter 9 new section was added on "Greenwashing and its Consequences." Despite the overall page count of the book being close to 600 pages.
Exam Format: CFA ESG 2024
The CFA Institute changed the exam setup in 2023 (Version 4), and there aren't expected to be any changes for the 2024 version (Version 5). The exam includes 100 multiple-choice questions, each with three possible answers. You've got 2 hours and 20 minutes to finish the whole exam.
Price: CFA ESG 2024 vs. CFA ESG 2023
Beginning 1 January 2024 the registration fee will increase to USD 865. This coincides with the release of the 2024 Certificate in ESG Investing which will include an updated curriculum with new case studies, additional practice questions, and a second mock exam.
Retake Option: USD 690.
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