Program of the Course ESG investment products and ACEPI ESG Guidelines for certificates


Accredited for maintaining EFPA Level EFA/EFP/EIP certification (3 hours/credits)
Accredited CFA Society Italy* for 3 credits

Luca Testoni - Eticanews
Giovanna Zanotti – Scientific Director of ACEPI, Full professor of University of Bergamo
Dario Savoia - Secretary General of ACEPI


Introduction to ESG for financial products. Concepts of sustainability, ESG, SRI, information relevant to ESG, rating (2h)
Focus on the characteristics of certificates for ESG purposes (40')
ACEPI Guidelines on the ESG classification of certificates (20')

  • The misunderstanding of a single ESG ... the importance of choosing "a sustainability" - Analysis of the different types of sustainability that can pursue an ESG investment

  • A distinction between ESG and SRI - Examination of the different types of sustainable investment (products), with graphical table

  • Correlation between ESG and performance - Analysis of correlative studies. Presentation of risk/return trends of different baskets and indices x asset class, approach, score etc.

  • The ESG rating, agencies and construction - What is the ESG rating, the scenario of the agencies and, above all, how is changing the meaning and use of the ESG rating

  • The importance of ESG information - In the great "confusion" of ESG judgments, asset selection needs a thorough understanding of the information underlying aggregated indicators (such as rating). Market trend towards data research. The challenge of effective and truthful data

  • Beyond the rating, multiply the other indicators - Simulation product search with our platform atlas.SRI

  • Certificates: the main characteristics for an ESG assessment

  • ACEPI Guidelines on the ESG classification of certificates

*CFA Society Italy has determined that this program qualifies for PL credit hour(s) under the guidelines of the CFA Institute Professional Learning program. If you are a CFA Institute member, you can self report PL credit(s) for your participation accessing the PL tracking tool through your account on the CFA Institute website. One credit hour is equal to one hour (60 minutes) of educational activity.