Sustainable finance is changing the way capital is raised, invested and managed. Companies must consider the financial consequences of environmental change, while investors and lenders increasingly need to assess transition plans, climate exposure and the credibility of sustainability information. Banks, investors, insurers and consultancies need finance professionals who can tell a material risk from a broad claim.
The Sustainable Finance track of ICN’s MSc Finance explores these questions from the perspective of both financial institutions and businesses. You learn how climate-related risks can affect valuation and financial models, how sustainability reporting and regulation influence financial decisions, and how green and transition financing instruments can support business transformation. You also examine sustainable investment approaches and the challenge of measuring impact beyond headline commitments. The emphasis is on combining financial rigour with a critical understanding of environmental and social information.
The MSc Finance is one programme with five specialised tracks, taught in English in Paris and Berlin. You start with a shared foundation in financial instruments, valuation and financial data analysis, then specialise. The common finance curriculum takes the CFA Program curriculum as an international reference point, while each track draws on frameworks relevant to its professional field. ICN’s Management by Innovation approach, built on ATMx, adds a wider perspective on technology, entrepreneurship, organisational change and responsible decision-making. The MSc lasts two years, or one year with direct entry into Year 2.
Accreditation and recognition
You graduate with two degrees: the Master of Science, accredited by the Conférence des Grandes Écoles (CGE), the association of France’s leading higher education institutions, and a degree conferring the Master’s Degree grade, approved by the French Ministry of Higher Education (diplôme visé) and registered with the RNCP at level 7 (no. 42682), the level of a Master’s degree in the European Qualifications Framework. ICN Business School holds the AACSB, EQUIS and AMBA accreditations: this “triple crown” is held by around 1% of business schools worldwide. ICN also holds the Bienvenue en France label, awarded by Campus France for the quality of its welcome for international students.
Why international students choose MSc Finance – Sustainable Finance
What makes this track stand out
Finance first. You build solid finance skills, then apply them to climate risk, sustainability regulation and transition finance, rather than treating sustainability as a separate subject.
Professional references. The track draws on the CFA Certificate in ESG Investing and the UN Principles for Responsible Investment (PRI), and the common finance foundation is designed with reference to the CFA Program curriculum. This does not imply the automatic award of an external certification.
Tools recruiters expect. You earn TOSA certifications in Advanced Excel, Power BI and Python, and complete Bloomberg Market Concepts (BMC), the e-learning course on Bloomberg’s market tools, within the financial markets module.
MSc Finance at ICN Business School: 1 programme, 5 Tracks
You share a solid finance foundation with all MSc Finance students in Year 1 before specialising, so you graduate with both a broad view of finance and a specialist profile.
Paris or Berlin. Study at La Défense, Europe’s leading business district, or in Berlin, at the heart of Europe’s start-up and investment scene.
Learning by doing
The Capstone Project. In two parts, you tackle a real business question, support your analysis with evidence and present your recommendations. A concrete piece of work to present in interviews.
The Créacthon (ATMx). A collective innovation workshop where you work with profiles different from your own, in ICN’s Art, Technology, Management spirit.
The Creactive Learning Expedition. An immersion in an innovative ecosystem in Year 2.
Professionalisation
You complete at least 2 months of professional experience in Year 1 and at least 4 months in Year 2, for example in M&A advisory, transaction services, investment banking, private equity or corporate development. ICN’s Careers and Internships Service helps you find internships and your first job, in France, Germany or elsewhere.
ICN works with more than 130 partner companies.
Living and studying in Paris or Berlin
Paris is France’s largest job market and a city where cultural life never stops. The La Défense campus, 8,000 m² with collaborative spaces and a rooftop terrace, welcomes students from all over the world.
Berlin is the largest capital city in the European Union and the second most popular city among Erasmus students. It is highly multicultural and multilingual, with a strong start-up culture, and you do not need to speak German. The Moabit campus, surrounded by greenery along the River Spree, is a calm place to study.
On both campuses, ICN’s Student Success team supports you throughout your studies, on academic matters as well as practical life.
An international outlook
In semester 2 (Year 1) or semester 3 (Year 2), you can study at one of ICN’s partner universities, for example Aarhus University (Denmark), University College Dublin (Ireland), LUISS (Rome), Kozminski University (Warsaw), Université Laval (Quebec), Tecnológico de Monterrey (Mexico) or Hong Kong Baptist University. Internationally focused activities also lead to the Global Competency Certificate, which recognises your intercultural skills.
All MSc Finance students build a shared foundation in financial markets, instruments and digital assets, corporate valuation, governance and ethics, and financial data analytics. Bloomberg Market Concepts is part of the financial markets module. Alongside, the Management by Innovation core develops managerial, technological, interpersonal and research skills: strategy and innovation, project management, digital transformation and AI, data management, and responsible innovation.
Financial Markets, Instruments & Digital Assets (including Bloomberg Market Concepts)
Corporate Valuation, Governance & Ethics
Financial Data Analytics
Applied learning: Advanced Excel (TOSA), Capstone Project – Part 1
Management by Innovation, Year 1 – Discover & Innovate: Strategy and Innovation, Project Management, Organisational Dynamics at Work, Digital Transformation & Artificial Intelligence, Data Management, Responsible Innovation: Law, Ethics & Governance, CréaCthon (ATMx), Talk & Impact: Communicating to Persuade, The Art of Prompting, Unlock Your Professional Potential, English for Effective Teams, Global Competency Certificate.
Year 2, semester 3: corporate finance expertise
In semester 3, you study consolidated financial reporting, M&A accounting and group performance analysis, corporate finance and value creation, big data in finance, and corporate financing and capital structure: the toolkit you need to analyse a company before buying, selling or financing it.
Consolidated Financial Reporting, M&A Accounting & Group Performance Analysis
Corporate Finance, Financial Strategy & Value Creation
Big Data in Finance
Corporate Financing & Capital Structure
Applied learning: Power BI (TOSA)
Year 2, semester 4: finance for the transition
In semester 4, you work on climate risk and financial modelling, sustainable finance regulation and reporting, green finance and transition financing, and sustainable investment and impact assessment. You learn to interpret environmental and social data, distinguish material risks from broad claims and assess whether a proposed investment or financing solution is credible.
Climate Risk & Financial Modelling
Sustainable Finance Regulation & Reporting
Green Finance & Transition Financing
Sustainable Investment & Impact Assessment
Applied learning: Python (TOSA), Capstone Project – Part 2
The Management by Innovation core continues with business models and entrepreneurship, financing innovative projects, change management and creative leadership, and a research dissertation.
Management by Innovation, Year 2 – Specialise & Create Value: Business Models and Entrepreneurship, Financing Innovative Projects, Change Management and CreaCtive Leadership, CreaCtive Learning Expedition (ATMx), English for Specific Purposes, Global Competency Certificate, Research Methodology and Data Analysis, Research Dissertation.
Available Intakes for MSc Finance – Sustainable Finance
September 2027, in Paris or Berlin: Year 1 or direct entry into Year 2
Year 1: a Bachelor’s degree or equivalent (180 ECTS credits)
Direct entry into Year 2: four years of higher education (240 ECTS credits), or three years of higher education and at least 3 years of professional experience in a related field
No professional experience is required for entry after four years of higher education
English: TOEFL 75, IELTS 6, TOEIC 750, Duolingo 105, Cambridge FCE or PTE Academic 51–58, unless English is your native language
No French or German is required
MSc Finance – Sustainable Finance: How to apply
1. Fill in the online application form, upload your documents and pay the €100 application fee (non-refundable). 2. Complete the one-way video interview within 5 days. The academic jury replies within 8 to 10 business days, outside holiday periods. 3. If you are admitted, pay the deposit to confirm your place. 4. You receive your official admission letter and can start your visa process.
Documents: CV in English, transcripts of the last 3 years, your most recent diploma or a certificate of enrolment, English test results, a copy of your passport or ID card, and any other relevant diplomas or certificates.
Paris: non-EU students apply for a long-stay student visa (VLS-TS). In countries covered by the Études en France procedure, the application goes through Campus France. In other countries, contact the French consular authorities in your country.
Berlin: non-EU students apply for a German study visa at the German embassy or consulate responsible for their place of residence, no later than 3 months before their arrival.
Do you have a disability? ICN’s disability advisor, Madeleine Ostrowski (madeleine.ostrowski@icn-artem.com), supports you from your application to the end of your studies.
Careers after the MSc Finance – Sustainable Finance
93% of our employed MSc graduates found their job within 6 months, nearly half of them before graduating. Average salary: €41,700 gross per year, including bonuses (2026 DESSMI employment survey, class of 2024-25).
Career opportunities after the MSc Finance – Sustainable Finance
Sustainable Finance Analyst
Climate Risk Analyst
ESG Analyst
Green Finance Analyst
Sustainable Investment Analyst
Sustainability Reporting Consultant
Students also benefit from the strength of ICN Business School’s global network of more than 25,000 alumni. A significant proportion of these graduates work in finance, technology, and start-up ecosystems across France and internationally, creating valuable opportunities for networking, professional integration, and career development.
The programme’s added value is further reinforced by the strategic locations of ICN’s campuses.
In Berlin, students study in the heart of one of Europe’s leading technology hubs, home to the offices and headquarters of major international companies such as Apple, Amazon, IBM, Google, and SAP. This vibrant ecosystem offers excellent opportunities for internships, networking, and early career development.
In Paris, students benefit from a unique learning environment in the heart of La Défense, the largest financial district in the European Union, providing direct exposure to major financial institutions, multinational corporations, and strategic business networks.
This unique combination of academic excellence, strategic geographical positioning, and the strength of the ICN network enables graduates to secure high-value roles and accelerate their careers within highly competitive and rapidly evolving industries.
Training costs and funding options
Year 1: €14,800
Year 2: €13,000
Direct entry into Year 2: €15,000
For international students, a deposit of €4,000 (€800 for EU students or students who do not need a visa), deductible from tuition fees, is required at the time of registration. The remaining fees can be paid in one or three instalments within 3 months of the start of the academic year.
Scholarships at ICN Business School
ICN Business School understands that the cost of education can be a barrier for many students. We have therefore introduced schemes such as scholarships to help you make your study plans a reality.
The Paris La Défense campus is located in the heart of Europe’s largest business district, ranked fourth worldwide. Offering direct access to 2,800 major French (CAC 40) and international companies and economic organisations based in La Défense, our campus provides students with an unrivalled location for internships and job searches.
If you would like to learn more about Paris, please visit our dedicated Paris campus page.
The Berlin campus is set in a natural environment at the heart of one of Europe’s largest capitals. Located along the River Spree and surrounded by numerous parks, this recently opened campus (inaugurated in 2025) offers a peaceful setting.
Situated in the Moabit district, our Berlin campus allows students to be close to some of the world’s leading start-ups and to enjoy an exceptional cultural life in the German capital.
If you would like to learn more about the city and the campus, please visit our dedicated Berlin campus page.
The Paris La Défense campus is located in the heart of Europe’s largest business district, ranked fourth worldwide. Offering direct access to 2,800 major French (CAC 40) and international companies and economic organisations based in La Défense, our campus provides students with an unrivalled location for internships and job searches.
If you would like to learn more about Paris, please visit our dedicated Paris campus page.
The Berlin campus is set in a natural environment at the heart of one of Europe’s largest capitals. Located along the River Spree and surrounded by numerous parks, this recently opened campus (inaugurated in 2025) offers a peaceful setting.
Situated in the Moabit district, our Berlin campus allows students to be close to some of the world’s leading start-ups and to enjoy an exceptional cultural life in the German capital.
If you would like to learn more about the city and the campus, please visit our dedicated Berlin campus page.
In September 2027 or February 2028, in Paris or Berlin. With four years of higher education (240 ECTS), you can join Year 2 directly.
Should I choose Paris or Berlin?
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The track is offered on both campuses, with the same programme. In Berlin, classes take place three days a week.
Do I need to speak French or German?
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No. All classes are taught in English.
Can I apply with a degree from outside France?
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Yes. You need a Bachelor’s degree or equivalent (180 ECTS) for Year 1, or four years of higher education (240 ECTS) for direct entry into Year 2.
Will my degree be recognised in my country?
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The degree confers the Master’s Degree grade and is registered with the RNCP at level 7, the level of a Master’s degree in the European Qualifications Framework. ICN holds the AACSB, EQUIS and AMBA accreditations, recognised worldwide.
Is the deposit refundable?
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The deposit is non-refundable, except if your visa is refused or if you do not obtain your current degree.
Can I pay in instalments?
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Yes. After the deposit, the remaining tuition fees can be paid in one or three instalments within 3 months of the start of the academic year.
ICN Paris La Défense
︱19.11.26
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