Finance professionals can now learn about sustainable finance through online courses backed by the World Wide Fund for Nature (WWF) Singapore and the Asia Sustainable Finance Initiative (ASFI).
WWF-Singapore and ASFI launched today the ASFI Academy, a suite of e-learning courses designed for those working in the Asian financial sector.
“In Asia, while financial institutions in the region have made notable progress in this realm over the past few years, many still have large gaps in their ESG policies, client engagement processes and approaches to portfolio risk management that leave their portfolios vulnerable to risks arising from climate change and nature loss,” says Anders Nordheim, senior vice president of Asia sustainable finance at WWF-Singapore.
Courses start from $250 for a one-hour session and financial professionals based in Singapore can expect subsidies of at least 50% from the IBF Standards Training Scheme. Students, teachers and non-profit professionals can enrol in the courses free of charge.
At launch, there are two fully accredited courses available. They are: Responsible investment 101: How to get started, a one-hour course for asset managers; and Responsible investment across Agriculture, Forestry and Fisheries supply chains, a four-course series lasting three hours.
The Academy will introduce two more courses targeting corporate bankers in October.
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“Additional courses are currently in the planning and development stages and will be rolled out progressively in the months ahead. These include sector series focused on infrastructure (a sample course is currently available on ASFI Academy), energy and many more,” says Nordheim to The Edge Singapore.
WWF-Singapore's Nordheim: In Asia, many still have large gaps in their ESG policies, client engagement processes and approaches to portfolio risk management
Bank of Singapore is the first bank in Asia to roll out a course to its entire firm of more than 2,200 staff. As of June, more than 800 employees have completed the course, and the private banking arm of OCBC Bank aims to have all its staff finish the course by end-2021, says Jeffrey Chiam, Bank of Singapore’s global head of human resources.
“Our clients are becoming more aware of the importance of ESG standards to create a more positive and sustainable impact through their investments. It is imperative that we continue to ensure our employees stay up to speed on the latest developments in sustainable finance which can impact our clients and business,” says Chiam.
The online Academy’s suite of courses have been accredited by the Institute of Banking and Finance (IBF) under the Skills Framework for Financial Services.
The courses are launched in collaboration with WWF partners: the Association of Banks in Singapore (ABS), the Institute of Banking and Finance Singapore (IBF), the Investment Management Association of Singapore (IMAS), the Life Insurance Association Singapore (LIA) and the Singapore Exchange (SGX).
Asset management professionals can access the courses through IMAS iLearn, while ABS members can enroll via ABS’ E-learning platform from October.
The Academy’s launch comes amidst growing momentum around sustainable finance in Singapore and the region.
For one, the Responsible Investment 101 course is also available in Chinese (Simplified), Japanese, Thai and Vietnamese.
WWF-Singapore and its ASFI partners are also developing a custom set of sustainable finance courses for bankers in the Philippines in collaboration with WWF-Philippines, the Global Reporting Initiative (GRI), the United Nations Environment Programme Finance Initiative (UNEP FI), United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and a consortium of partners in the Philippines.
Header photo: Screengrab
