In a world confronted by the urgent realities of climate change, the demand for professionals well-versed in sustainability and climate risk management is greater than ever. The Sustainability and Climate Risk (SCR) Certificate, offered by the Global Association of Risk Professionals (GARP), stands as a guiding light for individuals and organizations seeking to navigate the complexities of sustainability and climate risk. This introduction focuses on the SCR Certificate, shedding light on what it entails, the increasing demand for it, and the substantial advantages it provides to candidates who aspire to play a pivotal role in addressing sustainability and climate risk within the evolving investment landscape.
GARP SCR: Comprehensive Examination Overview
The GARP SCR Certificate opens doors to a rapidly expanding community that is pioneering climate risk management. Whether you are launching your career or occupying executive roles across diverse sectors, including banking, fintech, hospitality, fashion, and more, holding the SCR Certificate places you at the forefront of addressing pressing challenges related to climate change and sustainability.
The SCR examination is a single-section computer-based test featuring 80 multiple-choice questions. It comprises a one-minute non-disclosure agreement, a one-minute tutorial, and a total of 178 minutes designated for answering the SCR Exam questions. A successful pass results in the attainment of an electronic certificate of completion and a digital badge, which candidates can proudly display on professional networks like LinkedIn.
Fees, Costs, and Scheduling
SCR exam fees can vary depending on several factors, including GARP affiliation, possession of other GARP certifications like the Financial Risk Manager (FRM) or Energy Risk Professional (ERP), and whether you are a first-time or returning candidate.
Non-GARP members: Early registration is $650, and standard registration is $750.
GARP Individual members enjoy reduced rates: Early registration is $550, and standard registration is $650, with an annual membership fee of $195.
Certified FRM or ERP holders qualify for additional discounts: Early registration is $525, and standard registration is $625.
After registration, candidates can opt for in-person Computer-Based Testing at a Pearson VUE test center. SCR candidates must schedule their exams with at least 48 hours' notice before the preferred exam start time, aligned with the exam window they are registered for.
Pass Rates and Study Time
The SCR Exam follows a pass/fail grading system, and pass rates fluctuate based on the number of candidates.
For example, in April 2023, the GARP SCR pass rate stood at 57%.
Candidates who do not pass the exam have the opportunity to re-register at a reduced rate for the subsequent two exam cycles. Since the inception of the SCR program, 6,981 candidates have taken the exam, highlighting the growing recognition and significance of the SCR Certificate in the professional realm. GARP recommends dedicating approximately 100 hours to preparation to ensure candidates are well-prepared for the SCR Exam. This entails creating a structured study plan, utilizing official study materials and SCR books, and becoming acquainted with SCR deadlines.
The SCR certificate curriculum covers a broad spectrum of topics essential for comprehending and addressing climate risk and sustainability.
Foundations of Climate Change: Understanding the basics of climate change.
Sustainability: The principles and practices that drive sustainability.
Climate Change Risk: Identifying and managing climate-related risks.
Sustainability and Climate Policy, Culture, and Governance: Examining the role of policies, culture, and governance in sustainability efforts.
Green and Sustainable Finance: Markets and Instruments: Exploring financial tools and markets that promote sustainability.
Climate Risk Measurement and Management: Methods for measuring and mitigating climate risk.
Climate Models and Scenario Analysis: Predicting and planning for future climate scenarios.
Net Zero: The path to achieving a net-zero carbon footprint
The GARP SCR Certificate equips professionals with the knowledge and skills required to tackle climate risk and sustainability issues. Join the global community committed to a sustainable future and play a pivotal role in addressing one of the most critical challenges of our time.