France’s financial market regulator, The Autorité des marchés financiers (AMF) announced today that it will significantly increase the weight given to ESG issues as well as green and sustainable finance in professional certification examinations. The regulator also announced the introduction of a new sustainable finance certification.
According to the regulator, the general examination for AMF certification will increase the number of questions on sustainable finance from 4 to 15 (out of a total of 120 questions), addressing key concepts such as green finance, managing climate risk, socially responsible investment (SRI) and labels, ESG criteria and management approaches. The AMF stated that it has decided to significantly expand the section devoted to this topic in order to enable investment professionals, in particular those in direct contact with clients, to understand and know how to explain the key principles of sustainable finance and to identify the ESG preferences of clients.
The AMF’s new sustainable finance certification will include an examination made up of 60 questions, covering sustainable finance terminology and ecosystem, the French and European regulatory framework, ESG issues, non-financial asset management approaches and the marketing of sustainable investment products. The first exams are expected to take place by the end of this year.
AMF Chairman Robert Ophèle said:
“Accelerating the transition to sustainable finance by supporting the Paris financial center is one of the AMF’s main priorities for action in 2021. It is necessary to enhance the knowledge of professionals in this still emerging field in order to create trust and to help retail investors understand the range of green and responsible investments better.”