This comparison guide considers the best ESG certifications—CFA ESG, CESGA, and GARP SCR—costs, careers, and which of these ESG certification courses are suitable for different finance professionals.
What is ESG and Why is it Important?
- ESG stands for Environmental, Social & Governance—three pillars of sustainable business practice assessment.
- ESG influences investment decisions, risk management, and corporate reputation.
- With escalating climate risk, social responsibility, and governance requirements, ESG certification courses have become a worldwide imperative for finance professionals.
Strong ESG integration supports long-term performance, adheres to global templates (UN SDGs, PRI), and is what investors expect. Certified practitioners remain in high demand as businesses and ESG certification schemes gain further traction.
Overview of Top ESG Certifications
CFA Institute – Certificate in ESG Investing
- Offered by the CFA Institute, this ESG course equips professionals with ESG integration skills.
- It covers ESG analysis, portfolio construction, regulation, and impact measurement.
- Study on one’s own presentation, 130 hours; examination online and internationally available.
Why it Matters:
- Sponsored by CFA Institute’s brand.
- Practical and investment-driven.
- Appreciated by asset managers and global wealth firms.
EFFAS – Certified ESG Analyst (CESGA)
- Produced by the European Federation of Financial Analysts Societies.
- In-depth curriculum on ESG integration, valuation, reporting standards, and stewardship.
- Hybrid delivery: self-study, workshops, webinars; two exams of approximately 200 hours each
Why it Matters:
- Tailored specifically for European and global investors.
- Suitable for portfolio analysts, credit analysts, and ESG consultants.
- Achieves an ESG certificate approved within Europe and also increasingly globally.
GARP – Sustainability and Climate Risk (SCR) Certificate
- Sponsored by the Global Association of Risk Professionals (GARP).
- Focus on climate science, risk assessment, regulations, metrics, and scenarios.
- Self-studies: 120-hour curriculum with a computerized, multiple-choice examination
Why it Matters:
- For risk professionals of sustainability and of regulations compliance.
- Offers expert climate risk and transition planning knowledge.
- Complements GARP’s PRM and FRM certifications in risk management.
Key Differences Between CFA ESG, CESGA, and GARP SCR
| Feature | CFA ESG | CESGA | GARP SCR |
| Provider | CFA Institute | EFFAS | GARP |
| Focus Area | ESG integration in investment | ESG analysis, stewardship, reporting | Climate risk and sustainability |
| Study Hours | ~130 hours | ~200 hours | ~120 hours |
| Delivery Format | Online, self-study | Hybrid (online workshops + self) | Online, self-study |
| Exam Format | Online MCQ | Two MCQs + case study | Online MCQ |
| Global Recognition | High globally | High in Europe, growing globally | High in risk segments |
| Prerequisites | Finance background helpful | Finance/accounting background | Risk / climate knowledge useful |
Who Should Choose Which ESG Certification?
CFA ESG:
- Ideal for investment professionals, fund managers, and finance professionals with a goal of integrating ESG into portfolios.
- It will particularly benefit students of CFA designation or professionals working within asset management.
CESGA:
- Suitable for financial analysts, corporate ESG officers, and consultants.
- Ideal for professionals within or aspiring to Europe, global NGOs, or corporations looking at ESG stewardship.
- Convenient for professionals from India, including professionals of a CMA institute in Jaipur, considering worldwide qualifications.
GARP SCR:
- Developed with risk managers, climate risk analysts, and sustainability officers in mind.
- Complements FRM/PRM holders or professionals with a specialization in climate risk.
- Valuable for Indian professionals from the CMA institute in Jaipur looking to broaden into risk management with ESG.
ESG Certification Fees, Duration, and Eligibility
CFA ESG:
- Fee: USD $350 early / $450 standard + member discount
- Duration: ~130 hours; one exam window per quarter
- Eligibility: No formal prerequisites; finance/investment background recommended
CESGA:
- Fee: EUR €1,800–2,200 (varies by country/proxy); early bird discounts
- Duration: ~200 hours; two exams (MCQ + case-study)
- Eligibility: Background in finance/accounting recommended; optional interview
GARP SCR:
- Fee: USD $475 for members / $675 non-members; early-bird savings
- Duration: ~120 hours; one exam window per quarter
- Eligibility: Finance, risk, or ESG experience is helpful but not required
Note on India & CMA Aspirants: Students from a CMA institute in Jaipur or any other equivalent institution may go for any of these ESG certification courses as part of international career building. These will not need country accreditation and will therefore be ideal for ESG courses in India seekers.
Curious About Best ESG Certifications?
Career Opportunities After ESG Certifications
CFA ESG
- Roles: ESG Analyst, Sustainable Investing Manager, Portfolio Steward, CSR Strategist
- Employers: Asset management firms, mutual funds, pension funds, private banks
CESGA
- Roles: ESG Analyst, Ratings Specialist, Stewardship Manager, ESG Reporting Lead
- Employers: Financial consultancies, rating agencies, asset owners, family offices
GARP SCR
- Roles: Climate Risk Analyst, Sustainability Risk Consultant, Regulatory Risk Manager
- Employers: Banks, insurers, green finance firms, sustainability consultancies
Why It Pays Off:
- Best ESG certifications increase credibility within investment, consulting, corporate, or regulatory careers.
- Salaries of certified professionals are usually 20–30% higher than peers.
- ESG professionals are in demand due to advanced ESG regulations, climate risk, and investors’ focus on sustainability.
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Conclusion: Which ESG Certification Is Right for You?
Each of the best ESG certifications—CFA ESG, CESGA, and GARP SCR are all equally fine with pay, job prospects, and substantive careers. Your choice must align with what you know now, what you aim to achieve long-term, and what you plan to achieve globally with regard to impact. Certified professionals hold central positions as changemakers of sustainable finance.
- Choose CFA ESG if you’re interested in responsible investments, asset analysis, or portfolio management.
- Select CESGA if you are a financial analyst, ESG reporting officer, or target European/global investors.
- Select GARP SCR if you wish to specialize in risk and climate dynamics, scenario planning, or sustainability regulation.
FAQs on Best ESG Certifications
What is the difference between CFA ESG, CESGA, and GARP SCR?
CFA ESG is about investment integration; CESGA is about ESG analysis and stewardship; GARP SCR is about climate risk management and compliance with regulations.
Which ESG certification is best for finance professionals?
CFA ESG is the fittest for investment careers; CESGA is the fittest for corporate stakeholders and analyst careers; and GARP SCR fits risk-driven careers.
Are ESG certifications globally recognized?
Yes, CFA ESG is recognized worldwide under CFA branding; CESGA is highly regarded within Europe; and GARP SCR is regarded within risk as well as regulatory groups worldwide.
What is the average salary after completing an ESG certification?
Certified ESG professionals will enjoy 20-30% pay premiums compared with non-certified counterparts. Junior ESG positions start at USD $60k-80k, with senior positions at $150k+. Pay depends on location and experience.
