Sustainable Investing Certificate (ESG) Exam: Format, Timing & Policies (2025)
- Kateryna Myrko
- Aug 22
- 4 min read
Sustainable investing has become a central pillar of modern finance, reshaping how professionals evaluate companies, allocate capital, and advise clients. To meet the industry’s need for structured ESG knowledge, the CFA Institute launched the Sustainable Investing Certificate, previously known as the Certificate in ESG Investing.
As of 2025, the certificate has been rebranded, but the exam’s structure and curriculum remain consistent. This article provides a complete guide to the exam format, timing, fees, delivery modes, policies, and preparation strategies you need to succeed.
1. Exam Overview & Format Sustainable Investing Certificate (ESG) Exam
The Sustainable Investing Certificate exam is structured to test your ability to apply ESG concepts in real-world investment contexts.
Exam Structure
100 multiple-choice questions
Single exam session lasting 2 hours and 20 minutes (140 minutes)
Exam Flow & Timing Breakdown
Candidates should plan for the following exam-day schedule:
Candidate check-in and confirmation: 3 minutes
Non-disclosure agreement: 2 minutes
Tutorial: 16 minutes
Exam session: 140 minutes
Post-exam survey: 10 minutes
This adds up to just under 3 hours total time on-site or online, though only 140 minutes are dedicated to the scored exam content.
2. Timing: Registration, Scheduling & Study Window
Available Window
Once you register, you have a six-month window to prepare for and sit the exam. Importantly, candidates must wait at least two working days after registering before scheduling their exam slot.
Year-Round Scheduling
Unlike traditional CFA exams with fixed test windows, this exam is available year-round. Candidates can choose a date and time that fits their schedules, but availability may vary by region. Exam times can fill quickly, so it is best to schedule at least two to three months in advance to secure your preferred slot.
3. Exam Fees & Reschedule Policy
Fees
The registration fee is USD 890.
Some regional providers may offer bundled packages with study materials at a slightly different price point, but the standard exam-only registration is USD 890.
Rescheduling
You may reschedule your exam for a USD 30 fee, provided changes are made at least 72 hours before your appointment.
Retakes
Candidates who fail may retake the exam. Retake fees are typically lower than the initial registration fee, though the official CFA Institute website confirms the standard policy at the time of re-registration.
4. Delivery Modes: In-Person vs. Online
One of the exam’s strengths is its flexibility. Candidates can choose between in-person testing at Prometric centers or online proctored testing from a secure location of their choice.
In-Person Site Testing (IST)
Conducted at authorized Prometric centers worldwide
Requires valid government-issued ID that matches the registration details
Fully proctored, exam-like setting
Online Proctored Testing (OPT)
Allows candidates to take the exam at home or another quiet location
Requires a stable internet connection, a webcam, and system compatibility checks
Virtual proctoring ensures exam integrity
Candidates should select the mode that best matches their logistical needs and comfort level. Those with potential internet issues may prefer in-person testing, while those valuing convenience often choose online proctoring.
5. Results & Pass Criteria
Result Delivery
Results appear immediately on the screen after completing the exam.
Candidates receive a follow-up email confirmation.
Detailed performance reports are available in the candidate’s CFA Institute account within 14 days.
Scoring
The exam is graded on a pass/fail basis.
Candidates who do not pass receive topic-level performance feedback to guide future attempts.
The estimated pass rate typically falls between 71% and 81%, with the implied passing threshold around 60–70%.
6. Study Time & Preparation Recommendations
Recommended Study Hours
The CFA Institute advises at least 100 hours of preparation.
Independent providers suggest planning closer to 120–130 hours, especially for those new to ESG or investment processes.
Exam Focus
The exam emphasizes conceptual understanding and practical application, not memorization or heavy calculations. Expect scenario-based multiple-choice questions that test your ability to interpret ESG data, apply frameworks, and recommend solutions.
Key Content Areas
The role of ESG in the investment landscape
Environmental, social, and governance factors and their impacts
Stewardship, engagement, and fiduciary duties
ESG analysis and integration into valuation models
Portfolio construction, mandates, and client reporting
7. Policies & Miscellaneous
Name Change
As of April 2025, the CFA Institute formally renamed the program from the “Certificate in ESG Investing” to the Sustainable Investing Certificate. The rebrand better reflects the credential’s scope and aligns with global industry terminology. The curriculum remains the same.
Prerequisites
There are no formal prerequisites to enroll. However, familiarity with investment processes or prior finance experience is highly recommended for smoother preparation.
Summary Table
Category | Details |
Exam Format | 100 multiple-choice questions, 2 h 20 min session |
Total Time Slots | Admin/tutorial (22 min), exam (140 min), survey (10 min) |
Study Window | 6 months from registration |
Exam Registration | USD 890 |
Reschedule Fee | USD 30, if ≥ 72 hours before exam |
Delivery Modes | In-person (Prometric) or online proctored |
Results Timeline | Immediate, with full details in CFA account within 14 days |
Pass Rate / Marks | Estimated 71–81%; passing mark ~60–70% |
Recommended Study | 100–130 hours; focus on applied concepts |
Name Change (2025) | Certificate in ESG Investing → Sustainable Investing Certificate |
Prerequisites | None required; investment knowledge recommended |
Final Thoughts
The Sustainable Investing Certificate is a streamlined yet rigorous credential that equips financial professionals with the knowledge to integrate ESG principles into investment decisions. Its accessible structure—one exam, flexible scheduling, online or in-person delivery—makes it ideal for busy professionals seeking to enhance their ESG expertise.
By understanding the exam format, timing, and policies, you can design a study strategy that aligns with your schedule and learning style. With roughly 100–130 hours of focused study and a clear plan, earning the Sustainable Investing Certificate in 2025 is a realistic and rewarding goal.
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