Frankfurt School of Finance & Management - Sustainable World Academy
Certified Expert in ESG & Impact Investing
Frankfurt, Germany
Certificate
DURATION
6 months
LANGUAGES
English
PACE
Part time
APPLICATION DEADLINE
15 Jan 2026*
EARLIEST START DATE
01 Mar 2026
TUITION FEES
EUR 1,900
STUDY FORMAT
Distance Learning
* Early bird discount available until January 15
Key Summary
Environment Social and Governance criteria (ESG) and Impact Investing have gained a lot of traction in recent years and will continue to do so in the (post-) Corona world. Calls for a green and socially equitable re-start are very prominent. The EU’s Green New Deal (“Green Deal”) and the UN's Sustainable Development Goals (SDGs) are good examples of how ESG criteria and ideas of Impact Investing are being incorporated into policy objectives.
International development agencies have embraced ESG and impact criteria to guide investment decisions, as have many family offices, investment vehicles, and other institutional players, ranging from foundations and philanthropists to the private sector. ESG and Impact Investing are approaches to finance that are related to each other, although they may occupy different ends of the spectrum in terms of methodological intensity or operational mindset.
What Do We Offer?
- An interactive e-learning course including video lectures, PDF scripts, examples, practical exercises, online tests, and case studies.
- A discussion forum for course-related issues as well as for the exchange of opinions and experiences with tutors, peers, or the FSDF e-Campus team.
- Personalized support from your e-Campus team.
- The possibility to achieve a Frankfurt School certificate after passing the final exam or a confirmation of course completion after completing the course.
Workload
The course takes approximately 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.
This six-month online course is designed for professionals and executives working in international DFIs, multilateral donor organizations, institutional investors, pension funds, insurance companies, asset and fund managers who want their investments to intentionally achieve positive impact and/or offer ESG compliant options to their clients, rating agencies and technical assistance providers, as well as financial institutions in emerging and developing countries that are required to explicitly target both financial and non-financial objectives.
The Certified Expert in ESG & Impact Investing is designed as a six-month, pure online program. Participants should budget around 150 hours to complete the program, 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 contextualizes 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: Strategies for Measuring and Managing ESG Criteria 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 mindsets 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, publicly-traded securities and private over-the-counter transactions, and by retail investors as well as institutional investors. | Unit 5: Specialised Financial Instruments and Legal Contracts that Integrate ESG and Impact 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: Ratings, Indicators, Non-Financial Reporting and Data 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 practices, 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. |
| Unit 7: Elective Module Participants choose one module from the following options. The unit will conclude with an assignment that is tailored to the option you choose.
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*Subject to change
Training Approach
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.
Training Material
| Video Lectures | Online Tests | Reading Material |
| 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. |
| Assignments | Discussion Forum | |
| 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. |
Final Exam
Passing a final examination is a requirement for obtaining your certificate.
- Location: The final exam takes place online
- Duration: The final exam takes 2 hours.
- Costs: An additional final exam fee will be charged for the second and third final exam attempts.
- Certificate: Your digital certificate will be available upon passing the final examination.
If you do not wish to take the final exam, you will receive a confirmation of course participation after completing the course.