Wealth management trade body PIMFA is to launch an online ESG training platform for wealth managers. 

The PIMFA ESG Academy for Wealth Managers officially launches on 28 September. 

It is CPD-accredited and will offer online training for free to PIMFA members. The content has been specifically designed for wealth managers.

The new academy has been launched in partnership with sponsor MSCI and is backed by Fidelity and Farrer & Co.

The Academy aims to cover latest information and language used in ESG (Environmental, Social and Governance-focused investments). It will also provide the latest regulatory guidance. 

The online course will be split into three modules designed to provide wealth managers with a greater knowledge and understanding of ESG.  

PIMFA says that demand for ESG investments has never been higher. Of the record £6.2bn net inflows in UK based-equity funds in the second quarter of this year, 50%, or £3.1bn, flowed into UK funds focused on ESG factors. 

Liz Field, chief executive of PIMFA, said: “It is clear that ESG considerations play a significant role in investment decisions. There is an opportunity to be seized here both for investors and companies alike as new technologies are developed and as attitudes change, some of which has been accelerated by the Covid pandemic.

“It is with these factors in mind that PIMFA, in partnership with MSCI, Fidelity and Farrer & Co, has launched the ESG Academy for wealth managers. We want to ensure that our members, and through them their clients, are provided with the latest information and support, equipping them with everything they need to understand, and if appropriate, embrace the future of ESG in investment strategies.”

Steve Kowal, head of EMEA Wealth Advisory Channel Management, at MSCI, said: “MSCI, a global leader in ESG ratings, indexes and analytics, is pleased to have been able to work with PIMFA in the development of the content that hopefully will help better position Academy participants to meet these challenges and opportunities.”

Jenn-Hui Tan, global head of Stewardship and Sustainable Investments, Fidelity International, said: “In Europe, sustainable fund assets under management are predicted to account for over 50% of total European fund assets by 2025, driven by rising regulatory focus and increased client demand.

“But, defining what is and what is not truly ‘sustainable’ is difficult and can mean different things to different stakeholders. Working collectively as an industry and supporting initiatives such as PIMFA’s ESG academy, we can advance sustainable investing more broadly, and ultimately, better serve our clients financial and non-financial objectives.”

Grania Baird, partner at Farrer & Co, said: “Our involvement will help PIMFA members to navigate and understand the evolving legal and regulatory requirements in this area equipping them with the tools to engage with their clients on all aspects of ESG consistent with the regulatory requirements.”