Environment, social and governance (ESG) criteria and impact investing have gained a lot of traction in recent years and will become even more prominent as economies recover from the pandemic. Regulation now requires that investors are very transparent about the impact targeted as ESG metrics used in the industry are coming under greater scrutiny.
The EU's Green Deal and the UN's Sustainable Development Goals (SDGs) are good examples of how ESG criteria and impact investing have been incorporated into policy objectives. Strategies, metrics and evaluation of ESG and impact investing are therefore relevant for a wide range of investors such as private asset managers and institutional investors, family offices and philanthropic investors, as well as donors and development agencies. As a Frankfurt School Certified Expert in ESG and Impact Investing you will be in a position to translate best practices in the industry into investment projects that create impact and persuade asset owners.
What do we offer?
|Before Jan 15, 2024||EUR 1,485*|
|After Jan 15, 2024||EUR 1,700*|
|Before Feb 15, 2024||EUR 1,485*|
|After Feb 15, 2024||EUR 1,700*|
Package (e-learning + classroom)
|Before Jan 15, 2024||EUR 2,550*|
|After Jan 15, 2024||EUR 2,850*|
Final exam fee: An additional final exam fee will be charged for the second and third final exam attempt.
Payment in instalments is unfortunately not possible.
*subject to change
This six month online course is designed for professionals and executives working in private asset management and institutional investors, international development and donor organisations who want their investments to achieve positive impact and/or offer ESG compliant options to their clients. Rating agencies, technical assistance providers, as well as financial institutions in emerging and developing countries that are required to target non-financial objectives will also benefit from this course.
The course takes approx. 6 months assuming 4-6 hours of self-study per week. It consists of 7 mandatory units. The units need to be completed in a sequence. The next unit opens only if you complete the online test of the previous unit.
|Course Start||Course End||Registration||Early Bird|
|Sept. 1||Feb. 29||Jun. 1 - Sept. 30||By Jul. 15|
|Mar. 1||Aug. 31||Dec. 1 - Mar. 31||By Jan. 15|
The SWA offers professional and executive courses dedicated to the advancement of the United Nations Sustainable Development Goals (SDGs)
This course will enhance your knowledge in all SDGs:
The Certified Expert in ESG & Impact Investing is designed as a six month, pure online programme. Participants should budget around 150 hours to complete the programme, complete all assignments and sit for the final exam.
Unit 1: Introduction and Overview: What are ESG Criteria and Impact Investing
This introductory unit provides you with an understanding of how ESG criteria and Impact Investing relate to traditional mainstream finance. It familiarises you with major stakeholders, initiatives, and approaches for integrating non-financial issues into the day-to-day activities of investing. Key concepts and themes are introduced, which establish foundations for a learning journey that will be expanded upon over the subsequent units.
Unit 2: Historical and Theoretical Context
ESG and Impact Investing are orientated within different operational contexts: from asset management, through direct investment, to advisory services, etc. This unit helps you understand what is relevant for your context, whilst also making you aware of other requirements you may encounter in adjacent parts of the industry. It contextualises the historical evolution and theoretical development of ESG and Impact Investing to show how they complement each other, and to demystify why some narratives about managing non-financial factors appear to be fragmented and conflicting. Conceptual structures are presented that help you apply theory to praxis via a unified framework.
Unit 3: A Quality Assurance Approach to Managing ESG Issues and Impact
There are different strategic pathways available to managing ESG and impact factors. Each pathway represents a different level of methodological intensity. You will be introduced to the techniques and tools that are relevant for each, and learn how to choose the pathway that is most suitable for your needs or circumstances. This unit also clarifies how these strategic pathways align with operational mind-sets such as compliance, risk management, as well as proactively managing performance against non-financial goals.
Unit 4: Integrating ESG and Impact Management in the Investment Process
Each of the strategic pathways for managing ESG and impact can be integrated at every stage of the investment process: from deal sourcing and due diligence, through ongoing investment management, to final exit or contract maturity. These all follow the same high-level process that aligns with the Deming quality management cycle. This is applied with different levels of intensity and granularity depending on the strategic pathway being followed. You will learn how this process can be deployed across all asset classes, across publicly traded securities and private over-the-counter transactions, and by retail investors as well as institutional investors.
Unit 5: Integration of ESG & Impact Features into Financial Instruments
This unit starts with an introduction of traditional asset classes and financial instruments (a refresher for anyone familiar with both investing and philanthropy). You will learn how ESG and impact features are incorporated into financial instruments. This can be achieved either by enhancing traditional instruments with additional requirements and obligations, such as with Green Bonds; or by developing innovative instruments and hybrid models that introduce new contractual and financial arrangements, such as Social Impact Incentives.
Unit 6: Disclosure and Reporting of ESG & Impact
There are currently no universally accepted standards for reporting non-financial information, although there are several voluntary frameworks and norms established by industry initiatives. You will learn about the key regulations and legal requirements that are currently in various stages of development, notably by the European Commission. The unit also covers key trends, selected best practice, and challenges to help you navigate the various ratings, labels, certifications, and evaluation methods that are available. The challenges and opportunities in data collection are outlined, which explains why information from different providers of data and ratings is often weakly correlated.
*Subject to change
The e-learning course units are complemented by two elective classroom training days at Frankfurt School in Frankfurt, Germany. These days provide the opportunity for participants and trainers to meet in real life for reflection, discussions and deep dives into current trends as well as tailored training sessions.
The next classroom training will take place in November 2023 at Frankfurt School Campus (Frankfurt, Germany). The classroom training will be held in English. Concrete dates will be set in due course.
Below you find the tentative agenda of the 2-day-training. All sessions take place at Frankfurt School's new Campus, Adickesallee 32-34, Frankfurt am Main, Germany.
Harald Walkate is a well-known figure in ESG, as a frequent contributor on LinkedIn and the author of a number of influential articles on ESG, impact investing and climate change.
The former Head of ESG at Natixis Investment Managers, he is currently an independent advisor on ESG and sustainable finance, as founder of Finding Ways Ahead and as founding partner of blended finance advisory Route17. He is also a Senior Fellow with the University of Zurich Center for Sustainable Finance and Private Wealth (CSP) and a member of the ESG Advisory Committee of the UK Financial Conduct Authority.
Dr. Julian Frede
Julian is an experienced professional in the field of sustainability and impact management, with over 12 years of experience in various countries and continents. He has a strong foundation in theory and practical experience, including more than 8 years at KfW DEG, where he developed the globally recognised "Development Effectiveness Rating" tool and implemented DEG’s impact management system. At his current company, evolutiq impact advisory, Julian supports the establishment and expansion of complete impact and sustainability management systems, covering everything from strategy and measurement to implementation and evaluation.
In his work, Julian focuses on combining in-depth content with practical implementation and actively serves as a capacity builder and mentor for a variety of sustainability and impact management topics. He has a deep understanding of the financial sector and its players, particularly development financiers, funds, and banks
Simone is the Global Head of ESG & Climate Policy at MSCI ESG Research. She steers and coordinates MSCI’s research efforts on ESG and climate-related regulatory initiatives, globally.
Her team is responsible for driving research and methodology development enabling MSCI clients to respond to regulations on sustainable finance and climate-related prudential rules. Simone is a member of the Consultative Working Group to ESMA’s newly created Sustainability Standing Committee.
Simone is based in Frankfurt and joined MSCI from Allianz where she was building the climate strategy of the Group, both for the investment and the insurance side, over a decade. Prior to this, she spent five years in Brussels, holding roles a.o. with the largest European business association, Businesseurope. Simone has started her career working at the European Central Bank.
Simone has recently completed an executive MBA from Frankfurt School of Finance and Management and holds degrees in Economics (Lic.Oec.) from HEC Lausanne and European & International Politics (M.Sc.) from Edinburgh University. She is a certified Financial Risk Manager.
Young-jin is heading the impact and ESG practice at Vidia Equity, a newly established climate impact private equity asset manager. Prior to joining Vidia, Young-jin served as the Head of Research at PHINEO gAG’s impact investing advisory team with a focus on impact strategy development as well as impact measurement and management. Young-jin’s previous roles include investment management at 3M’s corporate venture capital unit and strategy consulting in a variety of industries and regions with Monitor Group (now Monitor Deloitte). Young-jin holds three master's degrees in Mechanical Engineering (RWTH Aachen), International Business Studies (University of Maastricht) and Politics, Philosophy and Economics (LMU Munich).
Sebastian Rink is an expert on green and sustainable finance and a researcher at the Frankfurt School - UNEP Collaborating Centre. Among other things, he deals with the question of how banks can support the transformation of SMEs' business models. Furthermore, Sebastian Rink is a partner in the Net Zero Banking Alliance Germany of the Green and Sustainable Finance Cluster Germany. His previous activities include co-development of the EU taxonomy, policy advice, private finance sector consulting, transaction management and the delivery of training and education.
The flexibility of our courses offers you the opportunity to follow your own schedule and to combine daily work with professional development.
The high quality offered will immediately improve your daily job performance as well as the performance of your institution.
Each unit ends with an online test comprising a set of 10 - 15 multiple choice questions. Only after having successfully completed an online test you will gain access to the next unit.
A PDF script is for most of our courses the main studying material. This reading material provides basic concepts and principles applicable to the subject of each unit.
The key to successful learning is the immediate use of newly acquired knowledge and the transfer of theory into practice. Our online courses are therefore supplemented by mandatory assignments.
A course discussion forum enables the interaction between participants and trainers and facilitates the exchange of experiences as well as possibilities to ask questions or get clarifications.
Passing a final examination is a requirement for obtaining your certificate.
If you do not wish to take the final exam, you will receive a confirmation of course participation after completing the course.
Prof. Dr. Zacharias Sautner
Zacharias Sautner is Professor of Finance at Frankfurt School of Finance & Management. He was previously Associate Professor of Finance at the University of Amsterdam and Research Fellow in Finance at the Saïd Business School of the University of Oxford. Zacharias Sautner works in the area of empirical corporate finance and focuses on ESG, climate finance, and corporate governance. His research was published in leading international journals such as the Journal of Finance, Review of Financial Studies, Management Science or Review of Finance and he has presented at conferences such as the AFA, WFA, and EFA. He was ranked #2 in Germany in Business Administration (#1 in Finance) based on A+ publications (age of 40 or below) by Forschungsmonitoring.org (February 2019). He teaches corporate finance, valuation, and corporate governance and has won different research and teaching awards.
Zacharias Sautner holds a PhD in Finance from the University of Mannheim and studied at University of York and University of Cooperative Education Stuttgart.
Karl H. Richter
Co-founder of EngagedX, which is a consultancy specialising in impact investing, thought leadership, data and tech development, advocacy and policy work. Karl works internationally across private, public, and social sectors. He lectures at the Frankfurt School of Finance and Management.
Karl's previous experiences include a 12 month assignment as Head of Research and Knowledge for the UNDP SDG Impact Finance initiative (UNSIF), where he led research to improve the analytical framework for social impact investing; membership of Groupe d'Experts de la Commission sur l'Entrepreneuriat Social (GECES) of the European Commission to advise on its Social Business Initiative; part of the OECD expert group on social impact investing. Karl is currently Senior Fellow of the Finance Innovation Lab; and adviser to several organisations, including the China Alliance for Social Value Investment.
David is an experienced investor with an exceptional track record in investing with a double-bottom-line. He has successfully pioneered investment programs in Sustainable Investing (incorporating SRI, ESG, Thematic and Impact) and Emerging Market Private Equity.
David advises clients on incorporating sustainable investing (including Socially Responsible Investing, ESG, Thematic and Impact) into both individual strategies and the broader firm business model. He also helps clients to screen both investments with a sustainable lens and investments in the emerging markets.
David is currently a member of the IFC’s AIMM panel which rates the impact of fund investments, a Board and IC member of Lumis Partners and an Advisor to Jupiter Impact, Time Partners and several private equity funds under development.
Dina Lorentz studied economic law focusing on finance and started her career as a consultant and investment banker specialized in the acquisition and respective valuation of financial institutions. She now works as a Business Development Manager Regulatory.
In addition, she is specialized in Impact Investing topics having worked for a Swiss Impact Investment Fund the last years in Lima, Peru. Underlying her dedicated work within Impact Investing she is a member of the Board of SA Oikocredit North Germany, a support association of Oikocredit International
Master of Leadership in Sustainable Finance
The Certified Expert in ESG and Impact Investing is an Elective Module of the Master of Leadership in Sustainable Finance. Join our Master programme after completing the CEII course and waive one elective module. Also, the amount you paid for the course will be deducted from the final tuition fee of the Master programme.
Diploma in Financial Inclusion
The Certified Expert in ESG and Impact Investing is part of the curriculum of our Diploma in Financial Inclusion. Enroll to our Diploma after completing the CEII course and waive one module. Also, the amount you paid for the course will be deducted from the final tuition fee of the Diploma.
Diploma in Green Finance
The Certified Expert in ESG and Impact Investing is part of the curriculum of our Diploma in Green Finance. Enroll to our Diploma after completing the CEII course and waive one module. Also, the amount you paid for the course will be deducted from the final tuition fee of the Diploma.