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Rating Service English version

About imug Beratungsgesellschaft für sozial-ökologische Innovationen mbH

In 1995, imug emerged from the imug institute of the University of Hanover. To date, 39 employees provide consultancy and research services in the area of Corporate Social Responsibility (CSR), Socially Responsible Investment (SRI), market research and marketing.

In the area of SRI, imug focuses on research activities for funds and investors that seek to invest in legal entities with a particular social and environmental performance. In this regard, our customized systems of research criteria enable us to effectively meet customer needs and differentiate us from our competitors.

Furthermore, we provide market research and communication projects in order to comprehensively address SRI issues.


The Vigeo Eiris Global Network

Since 1998, imug cooperates with EIRIS, the worldwide leading provider of company ratings along social, environmental and ethical criteria. In Germany, Austria and Switzerland, imug conducts research against the criteria system developed by EIRIS. A total of 60 analysts from various academic backgrounds and experiences worldwide are working on the rating of companies.

Established by the EIRIS Foundation, EIRIS is one of the global leaders in the environmental, social and governance (ESG) analysis of companies and states. With over 30 years of experience in the field of extra-financial research and the development of strategies for responsible investment, EIRIS today works with more than 200 asset managers and institutional investors worldwide.

In autumn 2015, EIRIS and Vigeo announced the merger of the two entities. Both agencies are leaders in their markets with strong potential for further growth. The two agencies will build upon their reputations and strong brand names, as well as on their skills that have produced innovative methodologies and technologies. With a team of 180 employees, the new entity will analyse up to 10,000 issuers. The pooling of their resources and tools will further broaden the coverage of issuers rated on an annual basis to better serve the growing needs of their clients.

Based on methodologies that are synergetic and complementary, Vigeo Eiris will offer a wide product suite tailored to the needs of a range of global investors. The reach of this new player, present from North America to Australia, Europe to South Korea, will allow it to play a leading role in promoting relations between issuers and investors going forward

Founded in 2002 by Nicole Notat, Vigeo is a European expert in analysing the responsibility of organisations in terms of Environmental, Social and Governance factors. Vigeo’s evaluation framework is based around six pillars of analysis; business behaviour, human rights, community involvement, environment, corporate governance and human resources.


Our Products & Services

In summary, our products and services in the area of SRI can be clustered around the following key offers:

  • Customized research
  • Screening of portfolios along the lines of sustainability criteria
  • Development and elaboration of responsible investment strategies for mutual as well as special funds
  • Consultancy services for communication, marketing and sales activities
  • Training offers for marketing and sales departments in the area of socially responsible investment

In addition to the sustainability rating of stock corporations mentioned above, imug also conducts sustainability ratings of bank bonds as another key product offer.


Our clients

The following list shows a sample of investors and asset managers who are using our equity valuations via EPM or our sustainability rating of bank bonds:

Acatis Fair Value Investment AG, Bank für Kirche und Caritas eG, Bankhaus Bauer AG, Deka Investment GmbH, DKM Darlehnskasse Münster eG, Erzbistum Köln, EthikBank, GLS-Bank, Greenpeace Umweltstiftung, HSH Nordbank, Invesco Asset Management Deutschland GmbH, Lupus alpha Asset Management GmbH, oeco capital Lebensversicherung AG, Umweltbank AG, Union Investment Institutional.



For further information on our services or questions regarding the methodology behind our ratings and services, please contact Axel Wilhelm - Head of imug Sustainable Investments.

For any information requests regarding the "imug sustainability rating of bank bonds" and background documents on our rating methodology or insights into our approach towards the criterion "secrecy jurisdictions and tax avoidance" in particular, please contact Jan Köpper, Head of Fixed Income ESG-Research.


Axel Wilhelm

Axel Wilhelm
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