The aim of this qualification is to provide attendees with the knowledge and skills required to analyse and respond to emerging ESG issues within their business organisation. The module will start by giving an understanding of what the concept of Environmental, Social & Governance (ESG) entails, how ESG-related information is used to assess risks and opportunities, and how stakeholders can influence corporate action, together with key considerations for investors. An emphasis will be placed on real-world case studies and emerging issues, and how participants can leverage such knowledge within their daily work life, particularly within the context of banking and financial services.
This course is aimed at financial services professionals globally who wish to develop and demonstrate their knowledge and expertise in ESG. Broad financial services sector coverage, including bankers, insurers, investment managers, central bankers and regulators, risk managers, analysts and consultants
This module will be assessed through a group-based assignment (30%) as well as an individual 2-hour exam (70%).
| Title: Award in Environmental, Social and Corporate Governance (ESG) | Fee |
| Regular Fee: | €690 |
This session will introduce students to the salient precepts of ESG, including its conceptual evolution over time and its emergence as an important focal point for businesses, investors and policymakers alike. The session will also discuss key drivers of ESG growth, including evolving customer and investor sentiment and the UN’s Sustainable Development Goals.
These sessions will begin with a microeconomic discussion of environmental externalities, public goods and common pool resources, and explain the inherent interactions between the natural environment and economic activity across all sectors of the economy. The sessions will also delve into climate change as the most pressing global environmental issue today, and its potential impacts on businesses, as well as the EU’s Green Deal. Various case studies shall also be introduced in order to illustrate the inexorable link between business and the environment across various domains.
This session will analyse the way in which business organisations interact with key stakeholders like its employees, shareholders, suppliers, customers and communities within which they operate, together with the broader geopolitical context. Students will be introduced to formal models used by practitioners within the field to assess these interlinkages and ultimately identify any emerging risks or opportunities, illustrated by a number of case studies.
This session will provide students with an understanding of key corporate governance considerations that have come to the fore in recent years, including rights and responsibilities at the boardroom level, executive compensation schemes, corporate purpose and values, ethical standards, transparency in corporate decision-making and accountability. Several case studies and examples shall be used in order to further highlight examples of both good and bad governance within the corporate world, along with emerging issues like gender diversity, social equity and cyber security.
This session will discuss the various emerging issues surrounding ESG reporting, and in particular its implications for the financial sector. Various guidelines, standards and frameworks for ESG reporting will be critically- discussed during this session, in addition to the EU’s upcoming Corporate Sustainability Reporting Directive, which is expected to come into force in 2024. The session will also underscore the importance of accurate, transparent ESG reporting, while also striving to strike a balance between accuracy and practicality. Several case studies and examples shall be used in order to further highlight examples of both good and bad governance within the corporate world, along with emerging issues like gender diversity, social equity, greenwashing and cyber security.
These two complementary sessions will focus on the impact of ESG considerations on core business operations within the banking and financial services sectors, including credit, wealth management and risk management, as well as the unique challenges and opportunities resulting from ESG issues within these sectors. The sessions will also delve into green finance and the EU’s proposed green bond standard, together with the EU Taxonomy and the recently-proposed Social Taxonomy, and an assessment of the ways in which ESG issues can be integrated into banks’ business strategies and policies, with specific reference to ESG Materiality Assessments.
This session will analyse the ways in which ESG issues may impact and integrate with credit functions and facilities within the financial services sector. This includes timely considerations related to ESG-linked loan products, both in terms of their principles and in the linguistic details of a credit agreement, and in particular how such products should incentivise borrowers towards more sustainable actions through various mechanisms related to pre-set ESG performance targets.
The final session will bring together various concepts learned thus far in order to assess ESG investing, particularly given the exponential rise in demand for investments that adhere to these principles. The session will consider various approaches to ESG investing, as well as various case studies in order to further illustrate the concepts covered in class.
Dr. Jonathan Spiteri is a Lecturer within the Department of Insurance at the University of Malta. He graduated with Honours in Economics (First Class) from the University of Malta in 2008, a Master of Science in Economics (with Distinction) in 2010 and, as an ESRC Scholar, a PhD in Economics in 2016, both from the University of Edinburgh. Jonathan’s research interests include environmental economics and sustainability, macroeconomic analysis, public health, risk and behavioural science, and his academic work has been published in several leading international peer-reviewed journals and books. He also has significant consultancy experience across a number of private and public sector projects, particularly within the fields of environmental valuation, cost-benefit analysis, macroeconomic policy and circular economy. Dr Spiteri has served as an expert on several opinions drafted by the European Economic and Social Committee, and is a co-opted member of the European Chemicals Agency’s Committee for Socio-Economic Analysis.
A B.Com. Hons graduate from the University of Malta, with Banking & Finance as area of specialization, Gabriella Borda continued her studies in Green Energy and Climate Finance with the Berlin School of Economics & Law, in collaboration with RENAC, an expert training institution in renewable energies and energy efficiency worldwide. Gabriella holds a certificate of proficiency in Organizational GHG Accounting with the GHG Management Institute and completed a specialization course in Environmental, Social and Governance (ESG) with the Corporate Finance Institute, as well as an Expert Consultant Programme with the Renewable Energy Institute, of which she is a member, covering green energy topics such as Hydrogen, Energy Efficient Buildings and Electric Vehicles. Gabriella is actively promoting sustainability across different sectors on both national and international levels by supporting businesses and organizations in their sustainability journey, providing in-depth insights and adding value to her partners. She is also a part-time lecturer at the university of Malta where she is currently delivering a course on the fundamentals of ESG.
Prof. Simon Grima is the Deputy Dean of the Faculty of Economics, Management and Accountancy, Associate Professor and the Head of the Department of Insurance and Risk Management which he set up in 2015 and started and coordinates the MA and MSc Insurance and Risk Management degrees together with the B.Com in Insurance at the University of Malta. Simon is also a Professor at the University of Latvia, Faculty of Business, Management and Economics and a visiting Professor at UNICATT Milan. He served as the President of the Malta Association of Risk Management (MARM) and President of the Malta Association of Compliance Officers (MACO) between 2013 and 2015, and between 2016 and 2018 respectively. Moreover, he is the chairman of the Scientific Education Committee of the Public Risk Management Organization (PRIMO) and the Federation of European Risk Managers (FERMA). His research focus is on Governance, Regulations and Internal Controls and has over 30 years of experience varied between Financial Services, academia and public entities. He has acted as co-chair and is a member of the scientific program committee on some international conferences and is a chief editor, editor and review editor of some Journals and Book Series. He has been awarded outstanding reviewer for Journal of Financial Regulation and Compliance in the 2017 and 2022 Emerald Literati Awards. Moreover, Simon acts as an Independent Director for Financial Services Firms, sits on Risk, Compliance, Procurement, Investment and Audit Committees and carries out duties as a Compliance Officer, Internal Auditor and Risk Manager.
Prof. Holger Perlwitz is professor for sustainable energy economics at Karlsruhe University of Applied Sciences. Prior to his academic career Holger worked for 18 years in the energy industry focusing on power & commodity markets, fixed income and risk management. Holger is regarded as a pioneer in the field of fixed income investor relations and has made a significant contribution to the establishment of this discipline in Germany. Between 2015 and 2022, he was responsible for Fixed Income Investor Relations at RWE and Innogy. During that time, he was engaged in Europe’s largest bond transfer – with a total volume of EUR 11 billion – as well as the first German benchmark corporate green bond issued in 2017.
University of Malta (UM)
The University of Malta (UM) has been, over its 400-year history, the hub for international academic exchange on the island. UM is the leading higher education institution in Malta and its structures are in line with the Bologna Process and the European Higher Education area.
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.
This global, benchmark qualification will help individuals to develop their knowledge, understanding and ability to apply the key principles and core practice of green and sustainable finance.
This Diploma has been developed to provide employees advising and/or dealing in Securities or Derivatives, advising on packaged products and/or Managing Investments with the knowledge and skills required for their job roles.
Successfully managing risk is a fundamental requirement for any effective business. In financial services it is a critical component. Part of the responsibility for the credit crisis is widely attributed to a poor understanding of risk.
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