Press Release
EFFAS launches CESGA® 5.0, integrating ISSB Standards alongside ESRS[
3 November 2026 | Frankfurt am Main
The European Federation of Financial Analysts Societies (EFFAS) announced at the EFFAS CESG Conference in Lisbon the launch of CESGA® 5.0, the latest evolution of the EFFAS Certified ESG Analyst programme. The new version integrates the ISSB Standards, IFRS S1 and IFRS S2, under licence from the IFRS Foundation, alongside the European Sustainability Reporting Standards (ESRS).
CESGA 5.0 is built around three central pillars: European credibility, global standards and investment decisions. The programme retains its strong European foundation through ESRS integration, while significantly expanding its global dimension through the ISSB Standards. It also updates the qualification for the post-Omnibus regulatory framework, including the revised CSRD and simplified ESRS, as well as recent SFDR developments.
“Bringing ESRS and ISSB Standards together in CESGA 5.0 reflects the growing importance of understanding sustainability reporting from both a European and global perspective. Equipping investment professionals with the knowledge to interpret sustainability information is essential to supporting informed investment decisions.”
Chiara del Prete, Chair of EFRAG SR TEG.
New and expanded content includes stronger stewardship and engagement, updated sustainable investment strategies, and the integration of climate risk across reporting, analysis, valuation and portfolio management.
“CESGA has always been about helping investment professionals understand sustainability information and apply it within financial analysis and investment decisions. With CESGA 5.0, we are strengthening that proposition for a market that is clearly international, while maintaining the strong European foundation of the programme,” said
Hans Buysse, EFFAS Chair.
The updated curriculum places greater emphasis on translating financially material ESG information into professional investment practice. Candidates are expected to assess how sustainability factors may affect corporate strategy, financial performance and valuation, develop structured engagement objectives, and incorporate ESG risks and opportunities into security selection, portfolio construction, risk management and monitoring.
“CESGA 5.0 builds on the programme’s existing strengths while making the progression from research and valuation to engagement and portfolio decisions even more explicit,” said Prof. Dr. Alexander Bassen, CESGA Programme Director. “The objective is not simply to understand sustainability information, but to know how to use it effectively as an investment professional.”
CESGA 5.0 also broadens its international perspective. A new chapter on Africa has been added, while coverage of North America, Latin America and Asia-Pacific has been updated to reflect developments in sustainable finance, regulation and market practice across jurisdictions.
Eli Reisman, IFRS Foundation Director of Earned Revenue, said: “We welcome EFFAS as an official licensee of the IFRS Foundation’s materials to help analysts learn about the standards developed by the International Sustainability Standards Board, which close to 50 jurisdictions are now on their way to adopting or using.”
CESGA 5.0 will be available through the EFFAS Academy and EFFAS’s international network of National Member Societies and training partners. Registration for CESGA 5.0 is now officially open; candidates who register for CESGA during October for the December 2026 session will retain six months of platform access and will be able to update their knowledge with the additional CESGA 5.0 materials, including the ISSB content, as they become available, at no additional cost.
Join the CESGA 5.0 Free Webinar Roundatble
EFFAS will host a dedicated webinar moderated by Prof. Dr. Alexander Bassen featuring speakers with perspectives including IFRS and EFRAG.
- Prof. Dr. Alexander Bassen – University of Hamburg; Academic Director, EFFAS CESGA®
- Chiara del Prete – EFRAG Sustainability Reporting TEG Chair
- Bing Leng – ISSB Member, IFRS Foundation
- Gunnar Friede – Head of Investment Strategy, ESG Team Multi Asset
About EFFAS
EFFAS, the European Federation of Financial Analysts Societies, is the home of Europe’s financial community. Founded in 1962 as a not-for-profit umbrella organisation, it brings together 15 National Member Societies representing more than 18,000 investment professionals, including financial analysts, portfolio and asset managers, pension fund managers, corporate finance specialists, risk managers and treasurers. EFFAS sets professional standards, represents the user side in Europe’s key regulatory and standard-setting bodies, and has more than 29,000 certificate holders worldwide. www.effas.com
For any further information, please contact:
Álvaro Wagener Díez | Marketing & Communications Manager
E-mail: a.wagener@effas.com | Phone Number: +49 69 98959519
