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Environmental & Social Investment
Impact Investing
Companies put their money to work for themselves. But what if that money worked for society and the environment instead - for a good cause? On the compact "Impact Investing" programme, you will learn how to achieve both environmental and social objec
Registration
- German
- hybrid
- 6 ECTS
- 3 , 950 €
- Next start: 09.11.2026
- 5 Präsenztage
- Campus Rheingau
Make an Impact. Without Leaving a Trace.
Across eight modules, we work with you in depth and in detail on the various challenges and nuances of impact investments - investments whose purpose is to achieve both environmental and social objectives.
Concept in Detail
A Matter of Public Interest and of Personal Value
Few topics carry as much social relevance as sustainability. Impact investing has emerged as a distinctive form of investment, one that puts achieving environmental or social objectives front and centre. This compact programme helps you build sound, impact-oriented sustainability expertise.
We Take Sustainability Seriously - Sustainably
For years, EBS Universität has stood for sustainability and impact like no other university. With its focus on professionals and executives, the compact Impact Investing programme takes this expertise to the next level. All of the programme's lecturers are recognised experts in impact investing, and their commitment underlines what makes this programme so distinctive.
What matters to us
At EBS, we shape leaders. That is why we place great emphasis on the direct transfer of knowledge. We achieve this through guided "real-life cases" — concrete, practice-based scenarios closely aligned with the programme — and through forward-looking interaction that keeps the wider world in view. Impact investing offers one way of shaping that interaction as effectively as possible.
Your Opportunities Going Forward
Successful graduates of the programme receive the Impact Investment Advisor (EBS) certificate. They are optimally prepared to build and advance a successful career in the new, growing field of impact investing. Impact investing is a core component of ESG and a driver of change. With that in mind: full leadership ahead.
Julia Bahlmann, Associate Director, FERI Cognitive Finance Institute
This first and unique certificate programme on impact investing in Germany offers, within a compact curriculum, fascinating connections between theory and practice. The chance to exchange views with experts from academia and industry on the current challenges and future direction of the impact investing market is extremely valuable for gaining a deep understanding of this increasingly significant ecosystem, along with its processes and instruments. Even though I've been passionate about impact investing for several years, I came away with plenty of new ideas.
Recognised by the Financial Times
The Financial Times has ranked the leading providers of executive education for 2026. EBS Universität's Executive School achieved an outstanding position nationally among open programmes. Among the criteria in which the Executive School particularly excelled were graduate satisfaction, programme design and faculty. The Financial Times Ranking confirms the excellence of the Executive School's programmes and underlines our commitment to enabling successful careers through further education.
What You Ideally Bring With You
The certificate programme is aimed at the following target groups:
- Asset managers, wealth managers and investment advisers at banks, insurance companies, pension funds and occupational pension schemes, at investment and asset management firms, family offices, foundations and church institutions, as well as at development banks, sustainability-focused banks or institutions with a social impact banking focus, and independent financial services providers who prioritise, or plan to prioritise, achieving specific environmental or social objectives with their investments - where the goal is not maximum returns but rather solving a societal problem.
- Graduates of EBS Executive School certificate programmes seeking to deepen their expertise further in Sustainable & Responsible Investments.
Basic Requirements
- Proof of a completed degree from a university, university of applied sciences or vocational academy or
- Evidence of suitability through relevant professional experience or further training, preferably in finance and/or sustainability, together with proof of general or subject-restricted higher education entrance qualification
An Investment That Pays Off
The total cost of the "Impact Investing" certificate programme is €3,950, including seminar materials, lunch and refreshments.
For members of the Bundesinitiative Impact Investing, BAI, CRIC, FNG and VfU, subscribers to Absolut Research, and EBS Executive School alumni, the tuition fee is €3,550.
Examination at the first scheduled sitting is included in the tuition fee, as is the first resit date set by the Examinations Office. A fee of €180 applies for each subsequent resit registration.
This service is exempt from VAT pursuant to Section 4 No. 21 a) bb) of the German VAT Act (UStG).
Practitioner Experts Well Worth Listening To
Academic Director: Prof. Dr Rolf Tilmes, EBS Executive School
Programme Director: Dr Thomas Schulz, Head of Sustainability Programmes, EBS Executive School
Our Lecturers
- Antje Biber, Head of SDG Office, President of the Board, FERI Schweiz, FERI Trust GmbH, Bad Homburg
- Young-Jin Choi, FRSA, Director of Impact & ESG, Vidia GmbH, München
- Hans-Jürgen Dannheisig, HDJ, Inhaber, HJDconsult // HJDmedia // HJDimpactConsult, Rullstorf
- Dr. Julian Frede, Co-Founder and Managing Director, evolutiq GmbH, Köln
- Dr. Markus Freiburg, Managing Director and Founder, FASE Finanzierungsagentur für Social Entrepreneurship GmbH, München
- Hanna M. Hornberg, Director, FERI Trust GmbH, Bad Homburg vor der Höhe
- Dr. Moritz Isenmann, Senior Impact and Sustainability Manager, Invest in Visions GmbH, Frankfurt am Main
- Dr. Anna L. Izzo-Wagner, LL.M. Eur., Lawyer, Partner, Annerton Rechtsanwaltsgesellschaft mbH, Frankfurt am Main
- Britta Lindhorst, Private Equity Advisory, Köln
- Rebecca Meyerhoff, ESG & Impact Analyst, NEXT Generation Invest AG, Frankfurt am Main
- Tobias Seikel, Managing Director, Planet A GmbH, Hamburg
- PD Dr. Matthias Schleuning, Head of Senior Scientist Group „Functional Ecology and Global Change“, Senckenberg Gesellschaft für Naturforschung, Frankfurt am Main
- Dr. Paul Schultess, Lawyer, Associate, Annerton Rechtsanwaltsgesellschaft mbH, Frankfurt am Main
- Tanja Volksheimer, Senior Portfolio Manager, Real Estate, Europe, Nuveen Asset Management Europe S.à r.l. Germany, Frankfurt am Main
- Sylvia Wisniwski, Managing Director, Finance in Motion GmbH, Frankfurt am Main
Eight Modules, Five Days - Impact Guaranteed
The "Impact Investing" certificate programme comprises eight modules delivered over five days and concludes with a comprehensive written examination lasting 180 minutes. Below you will find a detailed overview of the course content.
Module 1
The first module explores the effects of human activity on nature and society.
- Biodiversity and ecosystem services
- Feedback loops and tipping elements in the Earth system
- Our planet in the Anthropocene: "Planetary Boundaries & the Great Acceleration"
- The history of sustainability: "People, Planet, Prosperity"
- The SDGs and the Paris Agreement
- Future scenarios: sustainable development and the bioeconomy of the future
Module 2
Module 2 focuses on terminology, markets and market participants.
- Positioning impact investing within Sustainable & Responsible Investing (SRI)
- Market overview: international impact investment products across public and private markets
- Current regulatory developments
- The impact of (bank) portfolios: securities, loans, etc.
- The impact of companies through production, energy consumption, etc.
- Impact washing
- Public funding (the role of KfW, etc.)
Module 3
The third module addresses the regulation of impact investing.
- The EU Green Deal and Taxonomy Regulation
- The EU Disclosure Regulation - implications for asset management
- MiFID II - sustainability and target markets
- The German CSR Directive Implementation Act
- Expectations around non-financial disclosure obligations
- Sustainability in practice - regulatory requirements for advisory services
- Foundations and other non-profit organisations as investors - opportunities and limitations
Module 4
Module 4 covers the various forms of investment.
- Forms of investment in the private capital markets
- Investments in social enterprises (using concrete examples)
- Structuring with hybrid finance (using the ESIIF/EaSI guarantee as an example)
- Forms of investment in the public capital markets
Module 5
The fifth module focuses on the elements of the investment process.
- Systematising the investment universe for investors
- Defining investment objectives and strategies
- Structural requirements for implementation
- Operational implementation in practice
- Contractual arrangements
- Transparency and reporting requirements
- Ex-post assessment of investment impact
Moduel 6
Module 6 covers due diligence within the investment process.
- Market analysis (market size, competition, regulator, etc.)
- Business/business model analysis (background information, team, product, business model, etc.)
- Financial analysis/investability (funding and round setup, cap table, fund returnability, etc.)
- Legal analysis (company information, intellectual property, IT, personnel, etc.)
- Impact analysis (impact measurement, life cycle assessment)
Module 7
The seventh module addresses Impact Measurement & Management (IMM).
- Defining impact measurement and management (IMM)
- Introduction to the IMM process
- Positioning IMM-related standards
- Reflecting on the concept of materiality
- Hard-to-measure impacts (collective, indirect, transformative/systemic)
Module 8
Practice forum with two parallel streams
- Asset managers
- Private equity firms
- Forestry and agriculture
- Microfinance
- Real estate/housing
- Healthcare
Good to Know
Dates:
Start date (7th cohort): 9 November 2026
- Block phase (Mon–Fri): 9–13 November 2026
- Examination (Saturday morning): 5 December 2026
Helpful Documents
ECTS Credits and Recognition Towards the Master's Programme
The "Impact Investing" certificate programme carries 6 ECTS credits, which can be credited towards the "Master in Business (M. A.)" .
Format: Hybrid
This executive education programme is delivered in hybrid format. Participation is possible both on campus and via Zoom.
Our Partners
Die Bundesinitiative Impact Investing e.V. ist die Kompetenzplattform für Impact Investing in Deutschland. Durch den Aufbau des deutschen Impact-Investing-Ökosystems möchte sie die VorausThe Bundesverband Alternative Investments e.V. (BAI), founded in Bonn in 1997, represents the interests of the alternative investment sector in Germany across all asset classes and products. Its membership spans every area of the professional alternative investment industry, with 300 national and international companies currently members of the association. The BAI is committed to helping professional investors in Germany diversify their capital more easily and effectively into alternative asset classes, with particular attention to the long-term security of German pension provision. It regards legislative reform and the ongoing development of the law in the interests of its members and their investors as a core part of its mission.
Under the acronym B.A.U.M. , the Bundesdeutscher Arbeitskreis für Umweltbewusstes Management e.V. has, since 1984, successfully and forward-looking-ly brought together economic, environmental and social issues — that is, the principles of sustainability. Today, with around 700 members, B.A.U.M. is an important information and contact network for sustainable business across Europe. B.A.U.M. sees itself as a strong voice for sustainably run companies and as a driver of sustainable development.
The Corporate Responsibility Interface Center (CRIC) e.V. – an association promoting ethics and sustainability in investment, is a non-profit organisation dedicated to giving greater weight to environmental, social and cultural considerations in business and society. To promote ethical, sustainable investment, CRIC engages in dialogue with business, politics and civil society. With more than 130 members across the DACH region, CRIC also works in an interdisciplinary and critically reflective way. Its focus areas include raising awareness of values- and impact-based investing, sustainable investment strategies, particularly engagement, and academic research.
As a strong voice for the capital markets, the Deutsche Aktieninstitut has represented the interests of listed companies and other key capital market participants since 1953. The Deutsches Aktieninstitut also serves as the secretariat of the Government Commission on the German Corporate Governance Code. It advocates for a strong capital market that enables companies to finance themselves effectively and contribute to society's prosperity.
DIRK – Deutscher Investor Relations Verband is the largest European professional association connecting companies and capital markets. We give investor relations (IR) a voice, representing around 90% of listed capital in Germany. As an independent centre of expertise, we help optimise dialogue between issuers, capital providers and relevant intermediaries, setting professional quality standards along the way.
The FNG – Forum Nachhaltige Geldanlagen is the professional association in Germany, Austria and Switzerland representing around 200 members committed to sustainability in the financial sector. Its membership includes banks, insurers, investment companies, asset management firms, wealth managers, rating agencies, financial advisers, academic institutions, NGOs and private individuals.
ICV is the centre of expertise for modern controlling, with its services benefiting controllers, CFOs, CEOs and managers alike. ICV understands controlling as a goal-oriented management process that can only be effective through collaboration between controllers and managers. Economic sustainability is our guiding principle. ICV is there for everyone involved in controlling, bringing together what belongs together but doesn't always come together in everyday practice, and which is stronger when it does.
The Verein für Umweltmanagement und Nachhaltigkeit in Finanzinstituten is a network, founded in 1995, of sustainable finance professionals from around 50 financial institutions across the DACH region (banks, insurers, investment companies and related associations). VfU's central aim is to promote and disseminate "sustainable finance", enabling substantial progress towards sustainable development.
setzungen schaffen, dass zusätzliches Kapital zur Bewältigung sozialer und ökologischer Herausforderungen eingesetzt wird.
Der Bundesverband Alternative Investments e.V. (BAI), 1997 in Bonn gegründet, ist die assetklassen- und produktübergreifende Interessenvertretung für Alternative Investments in Deutschland. Der Kreis der Verbandsmitglieder setzt sich aus allen Bereichen der professionellen Alternative Investment-Branche zusammen. 300 nationale und internationale Unternehmen sind derzeit Mitglied im BAI. Der BAI setzt sich dafür ein, dass professionelle Investoren in Deutschland ihre Kapitalanlage, insbesondere mit Augenmerk auf die langfristige Sicherung der deutschen Altersvorsorge, einfacher und besser in Alternative Anlageklassen diversifizieren können. Er sieht es als seine Kernaufgabe, gesetzliche Reformen sowie eine Rechtsfortbildung im Interesse der Mitglieder und deren Anleger zu erreichen.
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I will be happy to help you
Prof. Dr. Rolf Tilmes
Programme Director