GARP Announces Market-Driven Changes To Its Energy Offerings

Responding to the transitions in the energy marketplace, the Global Association of Risk Professionals (GARP) announced today that 2021 will be the last year it offers the Energy Risk Professional (ERP^®) certification. The transition to renewables and certain energy risk principles will be addressed through GARP's Sustainability and Climate Risk (SCRtm) certificate program, and financial and other risk management topics will continue to be covered by its flagship Financial Risk Manager (FRM^®) certification.

GARP will also continue to participate in the community of energy risk practitioners through research, events, content, benchmarking, and networking. Current ERPs will retain their certified status and will be able to keep their energy risk knowledge current through Continuing Professional Development.

"When we began offering the ERP in 2009, the focus was on helping risk managers understand the interrelationships among and between the various industries that make up the global energy marketplace," said Richard Apostolik, president and CEO of GARP. "That marketplace has changed dramatically over the last 11 years. And the headwinds and challenges now facing the energy industry dictate a very different type of program. Given this, and after extensive industry outreach and consultation, we feel that now is the right time to re-direct our resources to energy-specific issues and other risk-related educational activities rather than a broad-based certification program."

GARP is expanding its other risk management programs. The biggest addition has been the SCR, which launched in early 2020 and saw more than 1,200 candidates in its first year. Focused on building a holistic range of knowledge around climate risk, the SCR includes, among other things, in-depth coverage of the energy transition to renewables and addresses other sustainability, governance and disclosure issues that are highly important to achieving success around climate risk challenges. GARP's FRM, the gold standard in risk management education, continues to refresh its curriculum every year to keep up to date with the growing and evolving discipline of risk management. And, GARP's Financial Risk and Regulationtm program was recently updated to reflect risk-related issues from a more qualitative perspective.

Those who have passed ERP Part I and want to take Part II can still do so in 2021. Part II of the ERP exam will be offered in testing centers worldwide in May and November. Registration information can be found on garp.org's ERP pages. Those who have passed both Exams and are completing their work experience can still be certified in accordance with the current program guidelines.

"We encourage those interested in the ERP to take advantage of the 2021 offerings," Apostolik said. "We will develop new ways to bring you energy risk content in the future and look forward to continuing to contribute to the global energy community. Energy professionals and those who practice energy risk management remain an important constituency at GARP and we will continue to work with you to elevate the practice of risk management in the global energy industry."

About the Global Association of Risk Professionals

The Global Association of Risk Professionals is a non-partisan, not-for-profit membership organization focused on elevating the practice of risk management. GARP offers role-based risk certification ? the Financial Risk Manager (FRM^®) and Energy Risk Professional (ERP^®) ? as well as the Sustainability and Climate Risk (SCRtm) Certificate and on-going educational opportunities through Continuing Professional Development. Through the GARP Benchmarking Initiative and GARP Risk Institute, GARP sponsors research in risk management and promotes collaboration among practitioners, academics and regulators. Founded in 1996, governed by a Board of Trustees, GARP is headquartered in Jersey City, NJ, with offices in London, Washington, D.C., Beijing, and Hong Kong. Find more information on garp.org or follow GARP on LinkedIn, Facebook, and Twitter.