Global social and environmental challenges, regulatory and reputational risks, market scandals and new market opportunities make environmental, social and governance information (ESG) a data source of growing importance. In this context, the integration of ESG information in the investment process chain and in valuation is essential.

Thanks to our EFFAS membership we offer you, in joint effort with Febelfin Academy, the possibility to enrol for a European certified ESG programme (CESGA – Certified Environmental, Social and Governance Analyst).

New : CESGA 4.0 as of October 2023, reflecting its commitment to current market needs and emerging trends!
As the ESG landscape is rapidly evolving, the CESGA program has been completely revised and updated with new relevant emerging topics. With this annual update the CESGA remains a state-of-the-art offering:
– New relevant emerging topics, particularly in the rapidly evolving regulatory landscape, but also in responsible investing across asset classes and ESG reporting.
– New videos, slides, and reorganised content for modules 1-8
– Changes to the video in Module 9, with corresponding changes in the slides.
– Multiple-choice questions have been refined and updated for objective assessment.
– Module 10 is currently unchanged. A chapter on ESG trends in Africa is in the pipeline and would complement the already rich content on ESG trends in Asia, Latin America, and North America in 2024.

All modules include the most current information available at the time of the 2023 update.

Download brochure 4.0

Why should you follow the CESGA program?

After having completed the CESGA program, you will be able to know and understand:

  • ESG impacts on risk and return from various angles;
  • systemization of different ESG investment approaches and strategies;
  • the market drivers for further ESG integration;
  • embed ESG across the whole investment process chain;
  • integration of ESG factors in valuation models;
  • responsible investing across asset classes;
  • systematically assessing different ESG reporting standards.

The CESGA® program is a 100% self-study program and structured in 10 modules (approximately between 120h and 150h of online training). Each module contains e-seminars, course slides, sources / readings.

A complete program overview can be found in the CESGA brochure.

Who should attend?

The CESGA® program is particularly aimed at financial analysts and portfolio managers who want to integrate ESG data in their capital allocation processes, but also, in general, all investment professionals increasingly committed to ESG issues. Other specialists such as corporate sustainability officers, investor relations, auditors and consultants will find this course interesting to develop a better understanding of the needs of capital markets in terms of ESG information. Summing up it is ideal for asset owners, asset managers, corporate consultants, financial planners, and family offices who wish to embrace ESG integration holistically.

It is a pleasure to have been able to meet your high level of expectations and to join the community of certified ESG analysts. In my daily work, being a certified ESG analyst allows me to help SMEs in their change and adaptation process. This allows them to anticipate measures expected soon.

Claudel Guitard, CESGA holder since September 2023


Practical information

After you have filled in the registration form (or via the 'Apply now' button at the top of this page) you will get an invoice. Once we received the payment we will complete your registration and grant you 6 months access the learning platform.

Upcoming exams will be organised on:
- 28 June 2024 (registration until 17/05/2024)
- 27 September 2024 (registration from 27/03 until 18/08/2024)
- 13 December 2024 (registration from 12/06 until 3/11/2024)

Price & Certification
The price for the online course and the certification exam comes to 1 750 EUR. The registration to the CESGA program includes the access to the learning platform, the examination right on the day confirmed at the moment of registration and the certificate. You receive the certificate after having successfully passed the exam.


If you have any questions related to the program or registration procedure, we can help you.

Contact us