Why study the Climate Risk Certificate?

Managing climate-related risks and supporting the transition to a low-carbon world are amongst our most significant global challenges. Central banks and financial regulators consider the identification, measurement and disclosure of these risks to be a priority.

Recognising the strategic importance of this topic, the Chartered Body Alliance have developed their first joint qualification, the Certificate in Climate Risk.

First launched in 2021, the Certificate in Climate Risk has been substantially updated for 2023 to encompass a wide range of developments in our understanding of climate change and its impacts, the rapidly-evolving policy and regulatory landscape relating to climate risks, and the substantial progress in finance sector practice in addressing climate and broader sustainability risks.

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What does the qualification include?

This Study Guide and course have been revised to include:

  • The IPCC’s most recent assessment of climate science and the impacts of climate change (AR6)
  • Policy and regulatory developments at global, regional (EU) and national levels, including new disclosure and stress testing requirements, and emerging international standards
  • Developments in data availability, quality and analytics
  • Evolving finance sector approaches to climate risk governance and management
  • The growth of finance sector alliances and other groups to address climate and other sustainability issues

The aim of the qualification is to develop the learner’s professional knowledge, understanding and skills relating to climate change, climate risk and sustainable finance, with a view to supporting customers, clients, colleagues, and communities with the transition to a sustainable, low-carbon world.

Is this Climate Risk Certificate right for me?

This qualification is aimed at all financial services professionals globally who have an understanding of risk management principles and wish to develop and demonstrate their knowledge and expertise of climate risk. With broad financial services sector coverage, including investment managers, risk managers, wealth managers with an interest of risk, analysts, ESG consultants, bankers, insurers, central bankers and regulators.

Although no prior knowledge of climate risk is required, completing the Green and Sustainable Finance Certificate would provide a useful introduction to the subject. Our Professional Assessment in Sustainable and Responsible Investment, a six-hour online course with a test, may also be of interest and we have a wider range of Professional Refreshers (60-90 minute online modules) covering similar topics for CISI Members too.

Key features:

  • CISI and CBI student membership – you will become associated with two globally recognised Chartered professional bodies. Join a network of over 50,000 members globally and take advantage of the professional and personal benefits offered by two leading bodies.
  • Prepare for a career in climate risk - this qualification provides an overview of the sector and will help kick-start your career.
  • Available to all - no previous knowledge of green finance is required, but an understanding of risk management principles and financial services practices is necessary.
  • Fast and affordable recognition - the certificate can be studied for using online resources at your own pace (130 hours of study time required), and is assessed via a 1.5 hour, 75-question multiple choice test, delivered online via remote invigilation with instant results.
  • Access to higher level qualifications – the certificate may be studied on a standalone basis but can also act as a contributory module to the three modules required for the Professional Banker Diploma offered by the Chartered Banker Institute.
    • The Certificate costs £655 per candidate, which will include all learning materials, access to the examinations and student membership of both bodies.
    • In order to study the Certificate you must become a member of the Institute. An annual subscription fee of £30.00 will be payable upon registration as part of the enrolment fees;
    • Upon completion, learners will be entitled to use the designation Cert CRP (Certified Climate Risk Professional).

 Factsheet 

Climate Risk Certificate

The purpose of this standalone examination is to enable candidates to demonstrate knowledge and understanding of the main elements of climate risk.  

The Certificate in Climate Risk syllabus covers:

  • The emergence of climate change and its impacts on the environment, economy, society, and the financial services sector
  • The ability to identify, describe and classify climate-related financial and non-financial risks, and the impacts of these on the economy, society and the financial services sector
  • The challenges in measuring, monitoring and reporting climate risks, and the availability and quality of data
  • Identifying common approaches to modelling climate risks, including the use of scenario analysis
  • Examining approaches and responses to climate risk at global, regional and national levels, and their impacts on the financial services sector
  • Exploring approaches to defining, developing, articulating and embedding climate risk appetite, governance and culture
  • Studying opportunities for the financial services sector in supporting the transition to a sustainable, lowcarbon world.


Delivered in partnership with the Chartered Banker Institute (CBI) and the Chartered Insurance Institute (CII), success in this exam leads to the CBI Climate Risk Certificate.

Please note that the CISI is not the Awarding Body for this qualification.

 

Qualification structure

13 credits at level 8 on the Scottish Credit and Qualifications Framework (SCQF), which is broadly comparable with level 5 on the European Qualifications Framework (EQF), this qualification is achieved by successfully passing a computer based exam of 75 multiple-choice questions.

Exam duration: 1.5 hours 
Recommended study time: 130 hours
CPD time: 6 hours upon successful completion

Exam availability

You can register now. You should receive the workbook and further information on booking your exam within 3 working days. Exams are booked via the CBI. You will be able to select a test centre of your choice with instant results. Remote invigilation is also available, enabling learners to schedule exams any time anywhere.

Price

The Certificate costs £655 per candidate, which will include all learning materials, access to the examinations and student membership of both bodies.


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Study support

Self-study

Your learning resources include:

  • An online workbook with a range of functional learning activities to work through at your own pace
  • Current, industry focussed case studies
  • Interactive e-learning modules, including audio and visual resources, and online quizzes to consolidate your learning
  • Online knowledge checks to enhance your understanding of key concepts
  • Questions to aid exam preparation – a checklist of questions, linked directly to the assessment criteria in the module specification, collated to support learning and prepare students for the exam
  • Personal reflection tools to support the application of learning at work

The Climate Risk learning programme is broken down into twelve units. Although your qualification enrolment is valid for a year, if you were to study a unit per week, you may find you could complete the programme in just nine weeks. To help you plan your learning journey, set yourself some study goals in terms of what you will do and when to complete the programme.

Candidates that register via the CISI will also receive free CISI student membership, which means they gain access to hundreds of online events and additional learning and networking opportunities throughout the year too.

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Employer support

Employers can track progress of individuals and cohorts through regular progress reports and learner analytics, enabling timely intervention when necessary. A range of blended support options for employers (eg, tuition, revision workshops) are available at a frequency agreed with by the Chartered Banker Institute (usually monthly).

Post Qualification and Membership Opportunities

The CISI, CBI and the CII offer a range of qualifications and membership opportunities to suit those aspiring to work in the sector, right through to the most experienced professionals.

Upon completion, candidates will be entitled to use the designation Climate Risk Professional.

You will also be eligible to join the CISI at Affiliate level. As a member of the Institute, you will enjoy the recognition of being a professional in a world of increasing competition. The extensive continuing professional development (CPD) opportunities available through the CISI’s suite of membership benefits ensures financial services practitioners can maintain competence and meet the requirements of firms and the regulator.
 
CISI membership enables you to develop your career, increase your competence and maintain the highest standards of professional integrity. Our programme of free professional benefits assists you to keep up to date with the financial services sector.

To further your theoretical and practical knowledge higher level CISI qualifications can be taken.