GARP SCR vs CESGA: Complete Comparison Guide for ESG Professionals
- Kateryna Myrko
- Oct 3
- 6 min read
As sustainability and ESG considerations dominate the financial landscape, professionals are increasingly seeking specialized certifications to validate their expertise. Two prominent credentials stand out: the GARP Sustainability and Climate Risk (SCR) Certificate and the EFFAS Certified ESG Analyst (CESGA). While both address environmental, social, and governance topics, they serve different professional needs and career paths.
This comprehensive guide compares these certifications to help you make an informed decision about which credential aligns with your career goals. GARP SCR vs CESGA , ESG Professionals
What Are These Certifications? GARP SCR vs CESGA , ESG Professionals
GARP SCR Certificate
Launched in 2020 by the Global Association of Risk Professionals, the SCR certificate focuses specifically on climate and sustainability risks from a risk management perspective. It prepares professionals to identify, measure, and mitigate climate-related risks across organizations.
CESGA Certification
The EFFAS Certified ESG Analyst credential is awarded by the European Federation of Financial Analysts Societies (EFFAS). CESGA is the first ESG certification officially recognized by EFRAG as ESRS compliant, making it particularly relevant for professionals working with European sustainability reporting standards. The program emphasizes ESG integration into investment analysis and financial decision-making.
Core Focus and Philosophy
GARP SCR: Risk Management Approach
The SCR certificate centers on climate and sustainability risks, including:
Physical climate risks (extreme weather, sea level rise)
Transition risks (policy changes, technology disruption)
Nature-related financial risks
Enterprise risk management frameworks
Regulatory compliance and reporting
The focus is on protecting organizations from climate-related threats and ensuring business continuity in a changing climate.
CESGA: Investment Analysis Approach
The CESGA program makes clear to participants the importance of ESG issues in investment processes, covering ESG impacts on risk and return, different ESG investment approaches and strategies, market drivers for ESG integration, embedding ESG across the investment process chain, integration of ESG factors in valuation models, and responsible investing across asset classes.
The focus is on enhancing investment returns and making better capital allocation decisions using ESG data.
Target Audience
Who Should Choose GARP SCR:
Chief Risk Officers and risk managers
Corporate sustainability officers
Compliance and regulatory professionals
Banking and insurance risk teams
Enterprise risk management professionals
Corporate strategists focused on climate resilience
Who Should Choose CESGA:
Financial analysts and equity researchers
Portfolio managers and asset allocators
ESG specialists in investment firms
Wealth managers and financial advisors
Investment consultants
ESG assurance and audit professionals
Corporate investor relations teams
Curriculum Structure
GARP SCR Curriculum (10 Chapters)
Foundations of Climate Change
Sustainability
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
Net Zero
Climate and Nature Risk Assessment
Transition Planning and Carbon Reporting
CESGA Curriculum (9 Core Modules + Regional Content)
The CESGA is structured in 9 modules with the first eight dedicated to theoretical discussion and module nine presenting two case studies requiring application of knowledge acquired in previous modules:
Recent Developments in ESG Integration
Regulatory Environment
ESG Strategies
Responsible Investing Across Asset Classes
ESG Reporting
ESG Integration in Investment Process
ESG Integration in Fundamental Research (Qualitative)
ESG Integration in Fundamental Research (Quantitative)
Case Study – ESG Integration and Climate Change
ESG Regional Developments (APAC, Latin America, North America)
Exam Format and Assessment
GARP SCR Exam
Format: 80 multiple-choice questions including one case study
Duration: 4 hours
Scoring: Pass/fail (no predetermined pass rate)
Questions: Equally weighted
Study Time: 100-150 hours recommended
CESGA Exam
The exam has a duration of 150 minutes with a two-part structure: 20 Multiple Choice Questions covering modules 1 to 8 (50%) and 1 Practical Case Study with 9 open questions covering module 9 (50%).
To pass, students must demonstrate their knowledge by gaining more than 50% of the 120 examination points and in each part have more than 30% of the answers correct.
Study Time: 80-120 hours recommended for candidates with no prior ESG experience
Key Differences:
GARP focuses entirely on multiple-choice with one integrated case
CESGA combines MCQs with open-ended case study questions requiring written analysis
CESGA has specific minimum score requirements for each section
GARP gives 4 hours; CESGA gives 2.5 hours
Prerequisites and Requirements
GARP SCR
No formal prerequisites
Background in finance or risk management helpful
Understanding of basic financial concepts recommended
CESGA Prerequisites: None, although some knowledge or experience in finance is helpful.
Both certifications are accessible to professionals transitioning into ESG and sustainability roles.
Regulatory Recognition and Compliance
GARP SCR
Globally recognized in risk management sectors
Aligned with international climate risk frameworks
Recognized by major banks and financial institutions
Supports compliance with climate disclosure requirements
CESGA CESGA 4.1 is the first program accredited by EFRAG for ESRS compliance, ensuring it remains the leading qualification for investment professionals working with current EU standards.
Strong recognition in European markets
Aligned with EU Taxonomy and SFDR regulations
Accepted for regulatory competency requirements in several jurisdictions
The Advantage: CESGA has specific regulatory recognition for European sustainability reporting, while GARP has broader acceptance in risk management contexts globally.
Geographic and Market Relevance
GARP SCR
Global perspective on climate risks
Strong presence in North America and Asia
Focuses on international standards (TCFD, ISSB)
Relevant for multinational corporations
CESGA
Strong European foundation with global expansion
Regional content for APAC, Latin America, and North America
Particularly relevant for EU-based professionals
Growing recognition in Asia-Pacific markets
Study Materials and Support
GARP SCR Resources
Official SCR Exam Book (eBook included with registration)
GARP Learning digital platform
Full-length practice exam
Climate Practical Applied Learning (PAL) tool
Required online readings
Third-party prep providers available
CESGA Resources Exam fees include online training videos, study materials and practice questions
Comprehensive video lectures
Practice questions aligned with exam format
Case study examples
Access through EFFAS National Member Societies or EFFAS Academy
Career Impact and Opportunities
GARP SCR Career Benefits
Positions you for risk management leadership roles
Essential for climate risk officer positions
Valuable for regulatory and compliance careers
Opens opportunities in banking, insurance, and corporate sustainability
Demonstrates climate risk expertise to employers
CESGA Career Benefits
Advances investment analysis careers
Required or preferred for ESG analyst positions
Enhances portfolio management credentials
Valuable for wealth management and advisory roles
Demonstrates ESG integration competency
Cost Considerations
GARP SCR
Exam registration fees (vary by registration period)
Optional printed textbook (USD 300 + shipping)
eBook included with registration
Reduced retake fees available
CESGA
Varies by country and National Member Society
Typically includes all study materials and exam fees
Course and exam purchased together
Check with local EFFAS member or EFFAS Academy for specific pricing
Which Certification Should You Choose?
Choose GARP SCR if you:
Work primarily in risk management
Focus on organizational climate resilience
Need to assess enterprise-wide climate risks
Work in corporate strategy or compliance
Want a globally recognized risk credential
Deal primarily with climate-specific issues
Choose CESGA if you:
Work in investment management or analysis
Need to integrate ESG into portfolio decisions
Conduct fundamental company research
Advise clients on sustainable investments
Work in European markets or with EU regulations
Need comprehensive ESG coverage (not just climate)
Consider both if you:
Want comprehensive expertise in both risk and investment
Work at the intersection of risk management and investment
Advise on both risk mitigation and capital allocation
Lead sustainability initiatives requiring both perspectives
Key Differences Summary Table
Final Thoughts
Both GARP SCR and CESGA represent valuable credentials in the growing field of sustainable finance, but they serve distinctly different professional needs.
GARP SCR is the go-to certification for professionals focused on managing climate-related risks within organizations. It provides deep expertise in climate science, risk measurement, and mitigation strategies essential for protecting businesses from climate impacts.
CESGA excels for investment professionals who need to integrate comprehensive ESG factors into their analysis and decision-making. Its ESRS compliance recognition and detailed coverage of ESG integration across asset classes make it particularly valuable for those in investment management.
Your choice should reflect your current role, career aspirations, and the specific challenges you face in your work. Many senior sustainability professionals ultimately pursue both certifications to gain comprehensive expertise spanning both risk management and investment perspectives.
As ESG and climate considerations continue to reshape the financial industry, either certification will position you at the forefront of this critical transformation. Choose based on where you want to make your greatest impact—protecting organizations from climate risks or allocating capital more sustainably.
Unlock your potential with our comprehensive GARP SCR practice exams and study packages!
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