The Institute of Financial Studies (ISF) in partnership with the Association of Financial-Banking Analysts in Romania (AAFBR) launches in Romania the ESG Essentials program, this being designed to facilitate an understanding of the fundamental concepts regarding trends in the areas of environmental, social, and corporate governance (En: Environmental, Social, and Corporate Governance, known by the acronym ESG).
ESG Essentials was designed by the European Federation of Financial Analysts Societies (EFFAS) and represents the contribution of specialists with a reputation in the financial field from various European countries. The program is appreciated by most employers at the European level, especially in the financial field.
The EFFAS ESG Essential program addresses trends in sustainability and their importance for companies, including from the perspective of the current regulatory framework at the level of the European Union. The course also refers to the criteria that a financial product must meet to be classified as aligned with the ESG concept. Also, investment strategies from the perspective of ESG criteria are addressed, as well as the ways in which a client can be advised regarding investment decisions in financial instruments aligned with the ESG concept.
ESG Essentials is a basic program in the ESG field, structured in five modules and includes two case studies. One of them addresses the ESG theme from the perspective of a product, and the other from that of a firm.
Daniela Ropota, CIIA, CESGA President AAFBR:
"ESG aspects are reflected at the level of the entire company and there is a need for an understanding of these at all levels for good collaboration and implementation. The ESG Essentials program aims to provide an overview of the trends in ESG for various specialists such as financial analysts, financial planners, consultants, auditors, providers of financial information, investor relations specialists, managers, and lawyers. By integrating ESG into the analysis of a company, an efficient and responsible relationship of the company with all involved parties is ensured. The program enjoys international recognition and can be accessed in Romania at a significant discount compared to the standard price at the European level, this facility being granted by considering the lower purchasing power locally."
Marian Siminică, Executive Director ISF
"The organization in Romania of the ESG Essentials professional training program, through which knowledge about environmental, social, and corporate governance factors is deepened, represents an opportunity for all those interested in implementing the new principles in the organizations in which they operate. Thus, the premises are created for aligning national practices with the trends manifested at the European level regarding the implementation of ESG factors. The partnership concluded with AAFBR for offering an internationally harmonized training program honors us, and I am convinced that it will contribute to increasing the level of professionalization of those involved in this process."
Dr Jesus Zaballos, President EFFAS
“For years, EFFAS has had a strong position in developing standards for the reporting of extra financials. I can recall a paper from early 1994 titled “Environmental Reporting & Disclosures” published by EFFAS’ Commission on Accounting, today the Financial Reporting Commission. In this historical paper, Javier de Frutos, Kaspar Müller, Klaus-Ulrich, and Hugo Haarbosch addressed what were the current problems at that time that financial analysts had to face when working with environmental matters and it explored how this topic related to companies. It also discussed the setting of standards for environmental accounting and how further information should be provided to financial analysts in order to make investment decisions. This all before ESG was called ESG. So, EFFAS can be proud of being a pioneer with a track record dating back to the early 90’s.
In October 2007 the EFFAS Commission on ESG (CESG) was founded with the objective of facilitating the integration of non-traditional aspects of corporate performance in the area of ESG into investment processes. Since 2009, EFFAS has supported the integration of non-financial indicators and ethics into investment decisions and pushed for management with rigor and professionalism. In 2010, EFFAS published the first ESG KPIs. 2014 saw the launch of the CESGA programme and seven years and counting of continuing its commitment to drive the integration of extra-financial information in classic investment methods. As a pioneer in delivering structured training on ESG, EFFAS launched its ESG Essentials® programme 2021.
According to Regulation (EU) 2019/2088 (SFDR), as of 10th March 2021 participants in financial markets and financial advisers have had to report on the integration of sustainability risks and the analysis of adverse incidences regarding sustainability in their processes and provide information on sustainability regarding financial products. For adequate advice and transparency in these matters, it is essential that participants in financial markets, advisors, and information providers have a basic knowledge of ESG.
The ESG Essentials® is the choice for professionals in finance who want to get ahead and understand the global megatrends and equip themselves with the knowledge to navigate an evolving regulatory landscape to demonstrate they have acquired an understanding of the fundamentals of ESG to complement their professional knowledge in compliance with the regulatory requirements.
During its pilot year in Spain and Germany the EFFAS ESG Essentials surpassed 1,000 title holders. Therefore, we trust in the success of the ESG Essentials in the Romanian market launched by our member Society AAFBR.”
The European Federation of Financial Analysts Societies (EFFAS) will award the ESG Essentials diploma to candidates who pass the exam after completing the entire study program.
The standard cost of the program at the European level is 510 euro + VAT/candidate. In Romania, however, it can be accessed at a significant discount, taking into account the lower purchasing power compared to countries in Western Europe. Thus, the cost of the program in Romania is 460 euro/candidate.
The cost includes four months of access to the online learning platform and the right to participate in an exam.
Registration for participation in this type of program can be done HERE.
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About ISF
The Institute of Financial Studies, founded by the Financial Supervisory Authority, is a center of excellence in the field of studying profile markets and conducting financial education programs to ensure the skills, aptitudes, and knowledge of the staff of financial institutions and the staff of the ASF and to increase the level of financial education of consumers of non-banking financial services and products. In the long term, the ISF aims to align its activity with European requirements, moving from the accumulation of knowledge to the accumulation and evaluation of skills, providing professional training programs for the non-banking financial sector adapted to new organizational processes, determined by legislative requirements, market dynamics, and the European framework, contributing to the maturation of the non-banking financial market in Romania, to creating its capacity to face competition induced by globalization or the effects of economic crises.
About AAFBR
The Association of Financial-Banking Analysts in Romania (AAFBR) currently brings together over 100 members with a high level of training and professional experience in banks, pension fund management companies, investment management companies, financial investment services companies, insurance and leasing companies, tax-accounting consultancy and audit companies, and multinational companies.
The AAFBR is a member of the European Federation of Financial Analysts Societies (EFFAS), a federation with 60 years of financial activity in Europe. Also, the Association has a partnership with the Association of Certified International Investment Analysts (ACIIA), an organization with over 20 years of activity, consisting of 22 national associations and the EFFAS. Together, the two international organizations support financial education at an international level for professionals in the financial field.
About EFFAS
The EFFAS is a non-profit organization established in 1962. Its mission is to be an opinion leader and a provider of education in the financial field at the European level.
The EFFAS is the umbrella organization of 14 local national societies of investment professionals in Europe, representing over 18,000 financial analysts, asset managers, pension fund managers, corporate finance specialists, risk managers, treasurers, and other professional profiles of the investment profession.
