The Global Association of Risk Professionals (GARP) is set to introduce pivotal changes to the Sustainability and Climate Risk (SCR) certification exam in October 2024.
In the forthcoming October GARP SCR 2024 Exam, examinees will be faced with a more comprehensive format consisting of 90 questions along with two case studies within a four-hour period.
This is an expansion from the prior format which included 80 questions and one case study over three hours.
This change not only adds more breadth to the assessment but also depth, giving examinees the opportunity to demonstrate a more robust understanding of the topics at hand.
Additionally, all updates to the curriculum will be disseminated exclusively through the GARP Learning platform; hence, the SCR eBook provided upon registration will not encompass the updated content that will be examined in the October SCR Exam.
Keeping Pace with Emerging Trends While the core topics of the exam remain unchanged, ensuring continuity in foundational knowledge, GARP has introduced new topics that will be covered in October's exam.
These updates will be accessible exclusively through the GARP Learning platform, highlighting the importance of leveraging up-to-date digital resources for preparation.
It is crucial to note that the SCR eBook provided upon registration will not encompass these new additions, signaling a strategic move towards more dynamic, online learning modules.
Exam Scheduling and Logistics: Key Dates and Deadlines
The April 2024 SCR Exam will be administered from April 20 to April 28;
The exam window for the October 2024 SCR Exam is set between October 19 and November 2.
Candidates are encouraged to visit the GARP exam logistics page to understand the registration process, scheduling details, and pertinent deadlines to ensure they are well-prepared for exam day.
Pricing Adjustments: A Financial Overview
In anticipation of the April 2024 SCR Exam, Non-members who register early by January 31 will incur an exam fee of USD 650, while the standard fee, applicable from February 1, is set at USD 750.
Individual members benefit from an early registration fee of USD 550, with the standard fee being USD 650.
For certified FRM/ERP holders, the early exam fee is even more favorable at USD 525, and the standard fee remains competitive at USD 625.
For the October 2024 Exam, the fee structure is as follows:
In line with these enhancements, there will be an increase in both early and standard registration prices by USD 75, excluding deferrals, which will see an increase of USD 50.
Non-members will be charged USD 725 for early registration and USD 825 for standard registration. Individual (paid) members have a reduced early registration fee of USD 625 and a standard fee of USD 725.
Certified professionals, holding either FRM or ERP credentials, will have an early registration fee of USD 600 and a standard fee of USD 700.
Additionally, a deferral fee is set at USD 150, while those needing to retake the exam will be charged a fee of USD 350.
The cost for retakes will remain unchanged (350 USD).
Estimating the Investment of Time GARP suggests an average preparation time ranging from 100 to 130 hours, though this may vary depending on individual familiarity with the material. As the content and structure of the exam become more challenging, candidates may need to adjust their study schedules accordingly.
Among the enrichments to the curriculum, new case studies and updated data have been incorporated, ensuring that examinees are tested on the most current and relevant information. The consistent topics from the 2023 curriculum will carry over, which include:
Foundations of Climate Change
Climate Change Risk
Sustainability and Climate Policy, Culture, and Governance
Green and Sustainable Finance: Markets and Instruments
Climate Risk Measurement and Management Climate
Models and Scenario Analysis
These advancements in the Sustainability and Climate Risk exam and curriculum are a testament to GARP's commitment to equipping professionals with cutting-edge knowledge and skills. As climate change continues to pose significant risks and challenges, the need for well-versed sustainability experts has never been more critical. Through these updates, GARP ensures that SCR credential holders are not only well-informed but also ready to lead in the global effort toward sustainability and the pursuit of net-zero goals.