Certificate in Impact Investing
CFA UK has launched the Certificate in Impact Investing to help financial practitioners understand impact investing and incorporate it into investment decisions.
CFA Institute believes that impact investing may reshape the financial industry. As clients demand more positive returns from their investments, impact investing has become an important consideration in addition to risk and return. The Certificate in Impact Investing launched this time will provide interested participants with learning opportunities about impact investing.
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Introduction to Certificate in Impact Investing
CFA UK plans to start offering exams for the Certificate in March 2024, and the first version of the syllabus has been released on the official website. Both UK and international candidates can apply for the exam. The exam lasts 90 minutes and consists of 60 multiple-choice questions. The pass rate is between 65% and 80%. CFA UK recommends that candidates take the exam after 130 hours of preparation. After passing the exam, candidates can receive a certificate in impact investing.
The first version of the syllabus is applicable from March 2024 to February 2025. The exam objectives mentioned are:
- Understand the objectives of impact investing, the market context, and the impact strategies of different asset owners.
- Understand the importance of impact investing, key frameworks for developing an impact strategy and building methods for managing impact investing products.
- Understand how impact business models and asset drivers determine the types of impact investments suitable for both public and private markets.
- Understand how to set up a selection process.
- Understand how businesses and investors measure, manage and report on impact practices.
- Understand investor contribution, engagement, and escalation.
The syllabus is divided into six topics. The content and weight of each topic are:
| Number | Topic | Question Allocation |
| 1 | Introduction to impact investing | 4-8 |
| 2 | Impact investment philosophy, strategy, and implementation | 14-18 |
| 3 | Asset classes and products in private and public markets | 8-12 |
| 4 | Impact investing, sourcing, and due diligence | 4-8 |
| 5 | Impact measurement, management, monitoring, and reporting | 16-20 |
| 6 | Investor contribution and stewardship | 2-6 |
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