A CFA® charterholder’s perspective on ethics and ESG
Key takeaways
The Australian investment management industry is increasingly prioritizing Environmental, Social, and Governance (ESG) practices and strong ethical standards. CFA Institute charterholder Emily Barlow shares insights on:
- Why ethical behavior is crucial in private wealth management.
- Practical integration of ESG factors into investment decisions.
- Navigating challenges like greenwashing in Australia's investment landscape.
CFA Institute has provided a great ethical grounding, a timely ESG skills top-up and a welcoming community for one Brit in Australia.
For CFA® charterholder Emily Barlow, the commitment of CFA Institute to upholding the highest possible standards of ethical behavior adds further clout to a qualification already recognized as an industry standard.
Barlow’s journey started in the UK with the Investment Management Certificate, as she began her career in funds management with London-based State Street Global Advisors. With a Master’s degree in Chemistry from the University of Oxford, Barlow says she realized very quickly that being a CFA charterholder was a cornerstone to credibility in the investment industry.
“It’s an expectation,” she says. “Not only is it a highly regarded qualification, but with my scientific background, I wanted to get a real deep dive into investment management.”
The importance of ethics in the investment industry
Ethical behavior is a cornerstone of good practice in the investment industry, but when your focus is private wealth, there’s an even greater requirement to demonstrate the highest possible ethical standards, she says. “Making sure that things are done properly, that people are being treated fairly, and you’ve got that core ethical base throughout is really important.”
From the very start, CFA Institute gives you the foundation for navigating tough decisions, Barlow says. “Ethical issues aren’t necessarily black and white. For example, in private wealth, when a limited investment opportunity becomes available, how do you decide who gets access? There's no single right answer, but the CFA Program gives you the framework to think through those decisions in a way that puts the client's interest first.
“Everywhere I’ve worked, there are so many backstops and protections in the form of compliance and risk-management processes, but CFA Institute gives you that real understanding, as well as the fundamentals. It’s a great foundation to build on.”
An unwavering commitment to developing, nurturing and maintaining ethical standards — underpinned by robust processes and a guarantee to follow through on any concerns — is a major reason why CFA Institute qualifications are so highly regarded across the industry, Barlow believes. “It gives the CFA Institute community that extra level of integrity.”
Sustainable investing in Australia
In recent years, as sustainable investing has become more mainstream in Australia, both public and regulatory scrutiny in the country has increased. A 2025 survey conducted in partnership between Southpole and research company Mobium Group found that eight in 10 Australians distrusted environmental or social claims made by companies. This increase in scrutiny has prompted the Australian investment industry to take more steps to avoid greenwashing, says Barlow. This covers both how investment managers present their strategies, and how wealth managers talk to their clients about responsible investing.
“People are a lot more mindful of how they’re representing these types of strategies and what they’re doing from a responsible investing perspective, or whether they’re over-marketing some of these capabilities or outcomes.”
At Perpetual, it became essential for Barlow to get a better understanding of the topics involved. The firm’s advisors needed support to talk to clients about the effects of an ESG approach on topics such as portfolio construction, manager selection and asset allocation. The CFA Institute Sustainable Investing Certificate allowed Barlow to hone her understanding of the skills needed to incorporate ESG factors into the investment decision-making process.
“When I joined Perpetual, I wanted to make sure that I didn’t have any gaps in my knowledge. The Sustainable Investing Certificate gave me a really good overview of all aspects of sustainable investing and ensured I had a good grasp of all the core concepts.”
A thriving community of investment professionals
Meanwhile, being a member of CFA Society Australia and being part of a thriving community of likeminded investment professionals and fellow CFA charterholders has been hugely beneficial to her career development, Barlow says. An extensive program of activities organized by CFA Society® ranges from informal networking drinks to webinars, lunch-and-learn sessions and an annual conference.
But the benefits of the community extend way beyond an events calendar and formalized learning opportunities, Barlow says. “Because I’m in a client-facing role, knowing people across the industry is really important, and to have automatic access to a thriving network of people in the sector has been really great.”
When it comes to ethics, the CFA Institute community acts as a sounding board to sense check the practical reality of ethical theory. “If I was faced with an ethical situation at work and I wasn’t able to get all the answers that I wanted internally, I would go to the CFA Institute community to get their views. They are a good group of people to talk to about any kind of ethical dilemma.”
How we support the finance industry
The CFA® charterholder experience: knowledge, community, and career growth
Discover how the CFA charterholder experience helped Lewis Jackson advance his career, build industry connections, and embrace lifelong learning.
Growth, skills and policy impact in Asia Pacific
An interview with Brenda Hou, CFA, on what sets Asia Pacific (APAC) apart from other regions and the implications for its investment industry and CFA Institute.
A varied career, with trust as its cornerstone
Seasoned investment professional David Ching, CFA, explains how CFA Institute qualifications paved the way for a varied and successful investment career.
Lifelong learning drives career agility
Zap Cheng, CFA, shares how lifelong learning through CFA Institute programs enabled him to transition from a traditional finance career to founding a successful ESG consultancy in Hong Kong.
Finance careers: Skills, paths, and real-world advice
As a CFA® charterholder, Grace Lee navigated a diverse career path to become COO of a leading Chinese venture capital firm. She now champions mentorship, global thinking, and continuous development to support the next generation in finance.
GCCs and GDP fuel India’s investment growth
Arati Porwal, CFA, discusses how evolving talent needs in India’s investment management industry are driving increased demand for CFA® Program candidates and charterholders, making the qualification a key career differentiator for the next generation of professionals.
Turn what if into what's next
See the value of the ongoing learning we provide at every stage of a finance career.
Turn networks into connection
CFA® charterholders and members share how belonging to a global community inspires, supports, and guides their professional journey.
Turn principles into practice
Why ethics is foundational to the profession.
Turn complexity into clarity
The value of objective, evidence-based research for the profession.
