CRISIL

Certified ESG
Risk Analyst
Growing Importance of ESG

Governments Regulators Investors

“
Globally governments are Regulators are actively Globally ESG-related
legislating net zero targets pushing the cause for ESG. assets under management
setting the tone for SEBI has mandated (AUM) are expected to
commitment towards corporates to disclose ESG increase to US$33.9tn by

© 2018 CRISIL Ltd. All rights reserved.

sustainable development. information through BRSR, 2026, from US$18.4tn in
India has pledged to achieve while RBI has launched 2021. In India, the number Talent Gap in ESG
net zero by 2070 and reach framework for acceptance of ESG schemes has According to the findings of Indeed, jobs related to the
50% of energy requirement of green deposits and is in increased from 3 to 9 in a environmental, social, and governance (ESG) sector have grown
process to release guidance by over 223% in India between April 2019 and April 2023. The
through renewable energy by span of 3 years.
around climate risk analysis increase over the past three years showcases the remarkable shift
2030.
and stress testing. as companies increasingly prioritise sustainability efforts. With

Lenders Corporates
“
concerns about climate change and the urgent need to build more
diverse and inclusive workforces at the forefront of many business
leaders’ minds, an increasing number of firms are pledging to take
action on climate, social and other issues by following
Environmental, Social and Governance (ESG) standards.

Lenders are increasingly In India, the number of

integrating ESG metrics corporates disclosing
in their credit risk their ESG related Source: https://www.peoplematters.in/news/employment-landscape/india-sees-223-
assessment and a few performance data increase-in-esg-jobs-since-2019-indeed-38094
banks are providing keeps going up every
discounted interest rate year. In 2022 roughly
to green projects. 12% of companies
have voluntarily
disclosed BRSR.
CRISIL’s expertise in ESG Risk Assessment

Framework mapped Pan-sector scale with

to local unique approach
country requirement to factor sector-related
nuances
Number of Number of Assessment on • Aligned with the
companies sectors BRSR framework • CRISIL’s in-depth

500+ • Based on public sectoral know-how

1000 60+ parameters and

disclosures and cross-linkages
leveraged to identify
key material ESG risks

© 2018 CRISIL Ltd. All rights reserved.

data points • Weightages of sub-
Pioneer parameters differ
in ESG Ratings based on materiality
in India

Total Total debt AUM equity AUM debt

market cap (excluding BFSI)
95% 94%
Rs 23 Rs 6 Comprehensive
framework to overcome In-depth
governance
lakh crore lakh crore data availability
evaluation
limitation
• Domestic • Over a decade-
benchmarks blended long experience
with international in governance
best practices evaluations
• Framework allows
incorporating non-
quantitative
information
ESG Risk certification
CRISIL’s ESG Risk certification leverages on our strong domain expertise in the ESG risk assessment space,
proprietary frameworks, rich database and extensive case studies.

How can CRISIL’s ESG Risk certification help?

Strategy, Finance and Investor Relations teams

Help strategy and finance teams at corporates to transition Financial Analysts and Credit
their companies toward global ESG best practices, keeping in Underwriters

© 2018 CRISIL Ltd. All rights reserved.

mind the business implications. Help financial analysts to have a sound
understanding of the ESG issues that will
enable them to factor in the ESG risk
Relationship managers and Business elements in their credit and equity research
development teams models.
Help client facing teams to understand
ESG requirement of their clients more
accurately, explain their organization’s Investment and Product teams
ESG philosophy and suggest tailored Help analysts, fund managers and decision
ESG products. makers to understand how ESG risk factors
can be incorporated into the
investment/lending decision making
CXOs and Board of Directors processes
Allow senior management and the Board
at corporates to be on top of ESG related
developments and chalk out a Students
sustainability roadmap for their Help students in supplementing their current skillset with long term
organisation finance credentials, suitable for employment in various organisations
like banks, AMCs, Insurance companies and rating agencies
How the course works, and what you can gain from it

Understand the ESG related concepts, Imbibe strong understanding of environmental,

terminologies, frameworks and social and governance (ESG) risks and how they
regulations. can impact a company’s long-term success.

© 2018 CRISIL Ltd. All rights reserved.

How businesses can generate value by
implementing sustainable practices that Gain knowledge of best practices in ESG
improve their environment, social footprint? risk assessment

Get acquainted with ESG reporting What will you learn Learn to integrate ESG analysis across
standards to assist businesses in several asset classes and investment products
being transparent. using a variety of methodologies.

Gain knowledge of the ESG market, including Keep pace with latest market trends and
its importance, size, scope, major drivers, best practices followed across the
difficulties, risks, and opportunities. industry on ESG
Course structure
Topics
Understanding Evolution of ESG ESG Analysis &
ESG & Reporting Environment Social Governance
ESG Assessment
Regulations Frameworks Framework

Hours 6 3 3 6 4 5 3

© 2018 CRISIL Ltd. All rights reserved.

Eligibility Course duration Learning resources Examination Badge and certificate
A bachelor’s degree with at least 30 hours online E-learning access, The certification exam will be held quarterly. Exam dates Verifiable digital badge
50% marks or equivalent curriculum (self-study) Resource documents will be intimated on mail 1 month in advance. Certification
cumulative grade point average exam will be of 2 hours and have 100 questions The
(CGPA) candidate needs to score minimum 60% to pass the
exam. There is no negative marking

Certification validity and continuing education Course fee Exam fee Renewal fees
Your ESG certificate (conferred on successful course completion) is Rs 14,000 ((exclusive of Rs 2,000 (exclusive of Rs 3,000
valid for three years. Candidates are required to obtain six credits, taxes) taxes) The fee remains (exclusive of taxes)
i.e. complete 6 hours of online refresher course to renew their the same for
certificate every three years. subsequent attempts
Course highlights
Get hands-on learning experience with highly interactive training content:

26 55 170 60 120
Real-life case Animations Recent regulations/ Market-related Knowledge
studies resource documents data and analysis checks

© 2018 CRISIL Ltd. All rights reserved.

Career avenues

Banks NBFCs AMCs Insurance

Consultants Private equity Other corporates

Rating & research
agencies
 CRISIL’s digital badge program
CRISIL Certified ESG Risk Analyst digital badge validates your mastery on ESG risk assessment skills
Your digital badge is equivalent to a paper certificate; you can share it online

Benefits of a digital badge

© 2018 CRISIL Ltd. All rights reserved.

Share across various Enable employers to Demonstrate that
Showcase your quickly validate your knowledge
social media platforms
achievements your certification is up to date
and digital formats

Where can you use your digital badge? Who will notice these digital badges?

Get
PowerED
Twitter Facebook Instagram LinkedIn Email WhatsApp Clients Employers Prospective Colleagues by CRISIL
signature clients

Digital badges are an invaluable asset in a growing gig economy. Highlight your achievements and stand out from the crowd. To know more, click here
Annexure
Module 1 : Understanding ESG
Topic Sub-topic
Introduction to ESG The Case for Sustainable Business
Sustainable Development Goals
UNPRI – United Nations Principles of Responsible Investment
What is ESG?
ESG Principles
Case Study – Eurizon Capital
The ESG Investing Landscape ESG Within the Investment Spectrum
ESG and Investment Fund
Task Force on Climate – Related Financial Disclosures (TCFD)
ESG Indices – DJSI
Climate Action Indices
The Roles of Stakeholders in ESG
Responsible Investment
Significant of ESG Why ESG counts
Benefits of ESG investing
Why ESG Rating Matters
ESG Ratings
Examining the Predictive Power of ESG Rating – Case Study
Examining the Predictive Power of ESG Ratings
Importance of ESG in Credit Risk ESG’s Value Preposition
ESG Best Practices
Why ESG Matters in the Credit Business
The Economic Cost of Transition
Annexure
Module 1 : Understanding ESG
Topic Sub-topic
Understanding Sustainable Finance Sustainable Finance
The Characteristics of Sustainable Finance
Key Sustainable Finance Instruments
Global public Policy – Green Finance
Public Policy in India – Green Finance
Carbon Trading Financing through Carbon Credits
Types of Carbon Markets
Compliance Markets
Market Mechanism
Non – Market Mechanism
Types of Carbon Credits
Carbon Market in India
Voluntary Carbon Markets
Carbon Pricing
Carbon Tax
Carbon Boarder Adjustment Mechanism (CBAM)
Annexure
Module 2 : Evolution of ESG & Regulations
Topic Sub-topic

History and Evolution of ESG History and Evolution

Factors Affecting the ESG Investing Ecosystem
ESG Investing Ecosystem : Factors
Focus on Climate Change and Environmental Issues
Social Issues Take Center Stage
Good Corporate Governance Promoters Investor Confidence
New Normal – ESG Disclosures and Analytics Backed by Data & Technology
Additional Factors Positively Influencing ESG Investing
Global Regulations Background and Perspective
Globally Aligned ESG Reporting
The Sustainable Finance Timeline
India ESG Journey Perspective
Evolution of India Specific Regulations
India Specific Regulations
Environment Related regulations – India
Environmental Impact Assessment
Social Related Regulations in India
Energy Related Regulations in India
Governance Related Regulations in India
India Specific Example
Annexure
Module 3 : ESG Reporting Frameworks
Topic Sub-topic
Introduction to Reporting Framework Rising Need for ESG Reporting
ESG Disclosures and Analytics
Global Reporting Initiative Introduction to GRI
GRI Standards
Sustainability Accounting Standards Board Sustainability Accounting Standards Board (SASB)
(SASB) SASB – What, Why and How
Characteristics of SASB Standards

Integrated Reporting Framework Integrated Reporting Framework

Six Capitals of integrated Regulated Framework
Guiding Principles
Content Elements

Value Reporting Foundation Introduction to Value Reporting Foundation

Task Force on Climate – Related Financial Introduction to TCFD

Disclosure (TCFD) Climate Related Risks
Climate Related Opportunities
TCFD – Financial Impact
Examples of Climate Related Risk and Potential Financial Impact
Recommendations and Guidance
Annexure
Module 3 : ESG Reporting Frameworks
Topic Sub-topic
Principles of Responsible Investment (PRI) Introduction to PRI
Six Principles of PRI

Carbon Disclosure Project (CDP) Introduction to carbon Disclosure project (CDP)

CDP Scoring

Science Based Targets initiative – SBTi Science Based Targets Initiatives – SBTi

Business Responsibility and Sustainability Report Introduction to BRSR

(BRSR) National Guidelines for Responsible business Conduct (NGRBC) – 9 Principles
Alignment of BRSR KPI’s with ESG
Alignment of NGRBC with the SDG’s
Benefits of BRSR Reporting
Inter Operability of Reporting
Annexure
Module 4 : Environment
Topic Sub-topic
Climate Change, Emission and Energy Efficiency Climate Vs. Weather
What is Climate Change?
Greenhouse Effect – The Cause of Climate Change
Contribution of Major GHGs to Global Warming
Global Warming Potential
Consequences of Climate Change
Climate Change Risks
Examples of Projected Sectoral Climate Change Impacts
Who can fix This Climate Change Impacts?
How can corporates Fix it?
How Do Corporate Account for GHG Emission?
What is Greenhouse Gas Protocol?
How can you Identify Scope 1,2,3 Emission?
Why should we address scope 3 Emission?
What is GHG Incentivization?
Climate Action Opportunities
Net Zero Emission
How Do We Work Towards Net Zero?
Carbon Neutrality
Energy Efficiency
Annexure
Module 4 : Environment
Topic Sub-topic
Water Management The Water Cycle
Classification of Water
Sustainable Water Management
Water Footprint Analysis
Sustainable Water Strategy
Need for Water Conservation From a Business Perspective
Techniques for Effective Water Use or Management
Waste Management Waste and Environmental Impact
Waste and Hazardous Material Management
Classifying Waste Types
Chemical Management and Safety
Risks Associated With Waste Management
Benefits of Effective Waste Management and Recycling
Raw Material Efficiency and Biodiversity Material Sourcing and Handling
Case Study – Heineken
Biodiversity and Land Use
Threats and Biodiversity
International Union for Conversation of Nature (IUCN) Species
How to Measure Corporate Impact on Biodiversity?
Case Study – Toshiba
Natural Resource Conversation
TNFD – Taskforce on Natural – related Finance Disclosure
Case Study - Hyundai
Annexure
Module 4 : Environment
Topic Sub-topic
Solutions and Best Practices Environmental Management System
Benefits of Investing in an EMS for a Corporate
Case Study – Siemens
Green Building
Certification Criteria and Process for New Building
Product Stewardship
Benefits of Product Stewardship
Case Study – Hyundai
Sustainable Product Development
Sustainable Alternative to Product
Sustainability Awareness and Reporting
Challenges in Sustainability Reporting
Benefits of Sustainability of Reporting
Circular Economy
Challenges in Implementing Circular Economy
Case Study – Google
Annexure
Module 5 : Social
Topic Sub-topic
The S in ESG The S in ESG
Defining the ‘S’ in ESG
Stakeholders Involved
Importance of Investing in Social Dimension
Social Dimension of Sustainable Development Goals (SDG)
WEF 2023 – Future of Jobs Outlook
Human Development Index – UNDP
Regulatory Framework under the Social Dimension
Social Risks
Corporate Response
Assessing Social Risks
Case Study – Fortum
Social Opportunities
Case Study – Gap Inc.
Annexure
Module 5 : Social
Topic Sub-topic
Workforce Benefits and Talent Management Workforce Benefits and Talent Management
Defining Talent Management and Workforce Benefits
Defining Talent Management and Workforce Benefits
Talent Management Model
Talent Management Components
Talent Attraction and Retention
Fair Pay
Diversity, Inclusion and Equal Opportunity
Employee Well-being, Health and Safety
Working Environment
Sexual Harassment
Child Labor
Talent Management : Best Practices
Workforce Benefits : Best Practices
Case Study – Levi Strauss and Co
Case Study – Hilton
Annexure
Module 5 : Social
Topic Sub-topic
Customer Experience Customer Experience
Customer Experience and responsible Engagement
Factors that Influence Customer Experience
Customer Satisfaction and Feedback
Product/Service Accessibility and inclusion
Product/Service Quality
Customer Health and Safety
Best Practices : Customer Experience
Opportunities from Enhanced Customer Experience
Case Study : Macmillan
Vendor and Supply Chain Management Vendor and Supply Chain Management
UN Guiding Principles on Business and Human Rights (UNGPs)
Socially Responsible Supply Chain Management
Area of Supply Chain Responsibility in Supply Chains
Best Practices
Benefits of Socially Responsible Supply Chain
Case Study – Starbucks
Annexure
Module 5 : Social
Topic Sub-topic
Impact on Local Communities Impact on Local Communities
Corporate Social Investment (CSI)
Impacts on Communities
Risk in Community Investment
Best Practices
Business Benefits of Community Investment
Case Study – Xerox
Annexure
Module 6 : Governance

Topic Sub-topic
Introduction to the ‘Governance’ Dimension Defining the ‘G’ in ESG

Corporate Governance Dimensions of Corporate Governance

Case Study
Risk Management Enterprise Risk Management (ERM)
The ERM Process
Case Study – Tata Power Limited
Information Security, Data Privacy
Case Study – LinkedIn

Compliance and Ethics Compliance

Business Ethics
Code of Business Conduct
Anti-Corruption and Anti-Money Laundering
Business Ethics Risks

Sustainable Performance Sustainable Performance and Corporate Governance Synergy

Environmental and Social Strategy Decisions of BoD
Stakeholder Engagement
Impact Management
Annexure
Module 6 : Governance
Topic Sub-topic
Sustainable Performance Impact Management Metrics
Enabling Sustainable Performance: Strategies and Collaborative Initiatives
Materiality in ESG
Double Materiality
Management Systems Framework
Co-creation with Customers and Peers
Collaborative Co-creation for Climate Action: Empowering Net Zero Goals
Effective Grievance Management in Corporate Governance
-Example of EXXONMOBIL
-Example of Ranbaxy

Understanding Governance Failures Through Main Course of Corporate Governance Failure in India
Case Studies Tata : Mistry Conflict
Religare : Forties Case Study
Café Coffee Day
National Stock Exchange
Annexure
Module 7 : ESG Analysis and Assessment Framework
Topic Sub-topic
Introduction Introduction to ESG Ratings
ESG Risk Rating
ESG Impact Rating
CRISIL’s Approach
Double Materiality
Double Materiality – Types and Examples
Need for a Holistic Assessment
Single Materiality – An Incomplete Picture
CRISIL’s ESG Risk Assessment Framework CRISIL’s ESG Risk Assessment Framework
Company Assessment Framework
Evaluation Framework
Key Parameters Assessed for Environment
Key Parameters Assessed for Social
Key Parameters Assessed for Governance
Sector Specific Parameters – Examples
Factors to be Considered in ESG Analysis Factors to be Considered in ESG Analysis
Ensuring Comparability
Industry Specific Factors
Geography Specific Factors
Reporting Boundaries
Factoring in Qualitative information
Factoring in controversies
Assurance of ESG Data
Biases
Annexure
Module 7 : ESG Analysis and Assessment Framework
Topic Sub-topic
Application of ESG Risk Analysis Application of ESG Risk Analysis
Screening
Risk Mitigation
Stewardship Obligation
Stewardship Tool and Activities
Targeted Investment
Opportunity Identification
Regulatory Requirements
SFDR Requirements for Offshore Funds
CRISIL 1Academy:
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insurance companies, corporates and regulators
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About CRISIL
CRISIL is a leading, agile and innovative global analytics company driven by its mission of making markets function better.
It is India's foremost provider of ratings, data, research, analytics and solutions with a strong track record of growth, culture of innovation, and global footprint.
It has delivered independent opinions, actionable insights, and efficient solutions to over 100,000 customers through businesses that operate from India, the US, the UK,
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It is majority owned by S&P Global Inc, a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets
worldwide.

About CRISIL 1Academy

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CRISIL 1Academy combines our domain capabilities into a single source of education intelligence, transforming the workforce of the future.
In line with our mission of making markets function better, we provide comprehensive learning solutions that encompass industry relevant knowledge with high impact learning
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For around two decades, our training solutions across credit, risk, treasury, wealth management and more recently, ESG, have imparted in-depth domain knowledge and
enabled critical thinking through practitioners’ perspectives, proprietary frameworks, case studies and analytics.
Since inception, we have trained 52,000+ professionals through 2000+ programmes in India, Sri Lanka, Bangladesh, Africa and the Middle East, eliciting an average feedback
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