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Business of climate change
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CFA Institute to offer certificate course on climate risks, impact valuation to plug talent gap, reporting demand

  • CFA Institute to accept registrations for the new course and qualification programme from November 30
  • The course will focus on ‘real world application’ and practical skills gained through 100 hours of learning

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A man walks past the Exchange Square in Central during Typhoon Saola on September 1, 2023. Photo: EPA-EFE
Eric Ng

The CFA Institute will offer a new certificate education programme on climate risks assessment and impact valuation from this month, helping plug a talent gap in global sustainable finance hubs including Hong Kong.

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This discipline is growing rapidly as analysts, money managers and company owners seek to incorporate climate-related factors in their decision-making processes. Toughening regulations and increased frequency of extreme weather events have compelled the industry to play its part in the climate-change agenda.

“Investment firms seeking to adapt to the risks associated with climate change increasingly require staff with specific climate analysis skills, and this new certificate meets that market demand,” the Charlottesville, Virginia-based institute said in a statement. “[It] addresses this knowledge and skills gap.”

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The course covers climate science, risks and regulation, climate transition finance, climate-related valuation issues of shares, bonds and alternative investments, besides portfolio management and stewardship. Registrations for the new course and qualification programme will start on November 30.

Under regulations imposed late last year, it is mandatory for asset managers in Hong Kong to formulate policies to assess and manage climate risks and opportunities, and disclose greenhouse gas emissions data on their investment portfolios and investees.
Hong Kong-listed companies must also comply with upgraded climate-related disclosure requirements in their reports to shareholders from early next year. They are aligned with the international baseline guidance issued in July by the International Sustainability Standards Board, a global accounting standards body.

The CFA Institute, an association of investment professionals, separately runs an ESG (environment, social and governance) investing certificate programme. The course has so far received almost 44,000 registrations globally, with Hong Kong contributing more than half the total.

The new climate certificate education programme will have a focus on “real world application” and practical skills gained through 100 hours of learning, said Richard Fernand, head of certificate management. It would be based on models and case studies from industry professionals and subject-matter experts, as well as interactive group course work, he added.

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