Sustainable Finance

Part of the ModularMaster in Sustainability programme

This course on Sustainable Finance provides participants with a comprehensive understanding of sustainable corporate finance techniques, sustainable finance instruments, ESG ratings, and fintech for sustainability. Participants will learn how to integrate sustainability into financial decision-making, evaluate and utilise sustainable finance instruments, and analyse ESG ratings to make informed investment decisions. Through case studies and practical exercises, participants will gain the skills to apply sustainable finance principles in their organisation and contribute to the transition towards a more sustainable global economy.

Offered in partnership with:

Course Details

Course Dates: 7, 16, 23, 30 Aug, 6 Sep 2024

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Closing Date: 12 Jul 2024

5 days, 9am - 5pm


Who Should Attend

Senior Sustainability Consultant; Senior Sustainability Manager; Sustainable Procurement Specialist; Sustainable Finance Manager; Senior Risk Analyst; Sustainability Project Manager; Senior Environmental Programs Specialist; Supply Chain, Sustainability & Energy Manager; Director of Public Policy and Environmental Affairs; Head of Environmental, Social and Governance (ESG); Head of Sustainability; Chief Sustainability Officer

Minimum Entry REquirement

  • Good English proficiency
  • Relevant work experience

Programme Outline

Learning Objectives

By the end of this course, learners should be able to / can expect to:

  • Analyse and apply sustainable corporate finance techniques, including environmental risk assessment, sustainable credit analysis, and green bond issuance, to enhance the sustainability of financial decision-making

  • Evaluate and compare different sustainable finance instruments, such as green loans, sustainability-linked bonds, and impact investing, to identify the most suitable options for various business needs

  • Assess and utilise ESG ratings and metrics to measure and report on the sustainability performance of investment portfolios, and explore the potential of fintech solutions for sustainable finance

Day 1
  • Sustainable corporate finance: origin and evolution 
  • Financial materiality of ESG factors
  • Sustainable risk management
  • Exercise: Identifying critically material ESG factors to your organisation
  • ESG analysis, valuation and integration: screening, discount factors, NPV
  • ESG portfolio construction and management: strategic asset allocation, fund manager assessment
  • Investment mandates and client reporting
Day 2
  • A taxonomy of sustainable finance instruments 
  • ESG investing
  • SLL and SLB, social impact bonds
  • Exercise: Setting potential SLL/SLB targets for your organisation
  • Blended finance
  • Transition finance
  • Sustainable trade finance
Day 3
  • The impact of sustainability ratings on businesses 
  • Notable ESG ratings frameworks
  • Managing performance on global sustainability indices
  • In-class Assignment 1: Comparing your organisation's ESG ratings across different frameworks
  • Reconciling criteria deviations across rating frameworks
  • ESG ratings data tools
  • Using ratings to create differentiation and competitive advantages
Day 4
  • What the rise of fintech means for sustainability
  • Fintech for energy management and carbon abatement
  • Fintech for microfinance and sustainable payments
  • In-class Assignment 2: Evaluating fintech use cases for your organisation
  • Insurtech
  • Applications of blockchain and Web3 technologies for sustainable finance
  • Team Project briefing and preliminary planning
Day 5
  • Team Project: Developing an investment thesis for an ESG asset OR Completing an application for a sustainability grant
  • Assignments
  • In-class participation
  • Team Project
Subject Credits
Upon completion and satisfying the requirements of passing this course, learners will be awarded 12 subject credits.

Course Fees and Funding

Full course fee inclusive of prevailing GST

You pay

SkillsFuture Course Fee Subsidy (70%)

  • For Singapore Citizens < 40 years old 
  • For Permanent Residents

You pay

Mid-Career Enhanced Subsidy (90%)

  • For Singapore Citizens ≥ 40 years old

You pay

Enhanced Training Support for SMEs (90%)

  • For SME - Sponsored employees

You pay

The above module fee payable is inclusive of prevailing 9% GST.



Mili Fomicov

Mili Fomicov is Co-director of the Centre for Climate Finance & Investment at Imperial College London. Before joining Imperial College, she was a Director and Portfolio Manager in the Multi-Asset Strategies team at BlackRock. Previously, Mili was a Portfolio Manager on J.P. Morgan's CIO team, and managed US and Japan equity funds at Barclays. She started her career at AllianceBernstein in the US. She is a graduate of the University of Chicago Booth School of Business, where she received an MBA in Finance, Economics, Econometrics and Statistics.


Arun Kelshiker​

Arun Kelshiker is the former Head of Asset Allocation and Portfolio Strategy at Standard Chartered Bank and a senior portfolio manager and country Chief Investment Officer with Allianz Global Investors / Allianz Group. He brings twenty years of multi-asset & ESG career experience, having managed institutional assets and provided investment advisory with leading international asset managers and banks. Arun delivers responsible / sustainable investing solutions, consultancy and training for asset owners, asset managers and industry organisations, having worked at the University of Cambridge on sustainable investment. He also lectures on ESG, risk management, sustainable finance and responsible investing for the Frankfurt School of Finance and Management and is also on the Advisory Council of BlueOnion, a leading fintech focused on providing ESG data solutions and analysis to asset owners, asset managers and corporates as well as an Advisor to OWL ESG, a US based best of breed ESG data and solutions provider for the investment community.

Policies and Financing Options

SSG Funding Terms and Conditions

Use of Personal Details

In consideration of the subsidy provided by SkillsFuture Singapore Agency (“SSG”) through the SUTD Academy for the Course,

I consent to:

The collection, use and disclosure to relevant third parties of my personal data by the SUTD Academy including but not limited to personal particulars, attendance records, assessment/performance records, for the following purposes:

  1. Reporting of national statistics and conducting of holistic continuing education training research and analysis;

  2. Facilitate the conduct of the relevant surveys and audits in relation to the Course;

  3. General administration of the Course including but not limited to processing of the subsidy provided by SSG;

  4. Publicity and marketing of the Course or other Courses to be provided by SSG or SUTD Academy; and

  5. SSG or its Appointed Auditors or Nominated Representatives to directly contact Course Participant to obtain information deemed necessary for the purposes of conducting effectiveness survey or audits in relation to the Course.

SUTD will have to claim the full course fee from participant who is unable to fulfil the SSG funding requirements stated below.

I agree to:

  1. Attend and complete all lectures, class exercises, workshops and assessments;

  2. Complete the Course feedback at the end of the Course;

  3. Complete the post Course survey sent about 3 to 6 months after class attendance; and

  4. Sign up for a personal email account.

SUTD Privacy Statement

For more information on SUTD's privacy statement, please visit

SUTD Terms and Conditions

Methods of Payment

Learn more about the available payment modes.

Cancellation & Refund Policy

  1. If a written notification is sent to within 24 hours after course registration deadline there will be no cancellation charges. A full refund will be made. 

  2. No refund is provided if written notification is more than 24 hours after course registration deadline. SUTD Academy reserves the rights to collect the full fee amount from the participant.

Replacement Policy

Companies may replace participants who have signed up for the course by giving a 3-working day notice before the course commencement date to Terms and conditions apply.

Registration Policy

  1. Course may be cancelled due to insufficient participants. SUTD Academy will not be responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from any course cancellation.

  2. Course enrolment is based on a first-come, first-served basis.

  3. SUTD Academy reserves the right to change or cancel any course or instructor due to unforeseen circumstances. 

Types of Funding

Funding under Mid-Career Enhanced Subsidy ("MCES")

  1. MCES is an enhanced Subsidy to encourage mid-career individuals to upskill and reskill, thereby helping them to remain competitive and resilient in the job market. With this, all Singaporeans aged 40 and above will receive higher subsidies of up to 90% course fee subsidy for SSG-funded certifiable courses.

  2. Individuals/employers are not required to submit an application for the MCES. Those pursuing SSG-funded programmes will be charged the appropriate subsidised fees by SUTD Academy if they are eligible MCES. Individuals/employers will only need to pay the nett fee (full course fee after SSG's grant).

    For more info, please visit SkillsFuture website at

Funding under Enhanced Training Support for SMEs ("ETSS")

  1. ETSS is an enhanced funding to enable SMEs to send their employees for training.

  2. SMEs will enjoy subsidies of up to 90% of the course fees when they sponsor their employees for SSG-funded certifiable courses.

  3. In addition to higher course fee funding, SMEs can also claim absentee payroll funding of 80% of basic hourly salary at a higher cap of $7.50 per hour. SMEs may apply for the absentee payroll via the SkillsConnect system.

  4. To qualify, SMEs must meet all of the following criteria:
    - Organisation must be registered or incorporated in Singapore
    - Employment size of not more than 200 or with annual sales turnover of not more than $100 million
    - Trainees must be hired in accordance with the Employment Act and fully sponsored by their employers for the course
    - Trainees must be Singapore Citizens or Singapore Permanent Residents

    For more info, please visit SSG website at

Funding under Union Training Assistance Programme ("UTAP")

UTAP is a training benefit for NTUC members to defray their cost of training. This benefit is to encourage more union members to go for skills upgrading.

NTUC members enjoy 50% unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP (Union Training Assistance Programme).

For more info, please visit

Funding under Post-Secondary Education Account ("PSEA")

The Post-Secondary Education Account (PSEA) is part of the Post-Secondary Education Scheme to help pay for the post-secondary education of Singaporeans.

This is part of the Government’s efforts to encourage every Singaporean to complete their post-secondary education. It also underscores the Government’s commitment to support families in investing in the future education of their children and to prepare them for the economy of the future. PSEA is not a bank account.

It is administered by the Ministry of Education (MOE) and is opened automatically for all eligible Singaporeans.

Account holders can use their PSEA funds to pay for their own or their siblings’ approved fees and charges for approved programs conducted by approved institutions.

However, you will have to check your eligibility and balance by contacting MOE first.

Contact MOE at (65) 6260 0777

E-mail to MOE at

Click here for MOE website.