| Research provider |
imug Beratungsgesellschaft |
| Company mission |
The „imug Investment Research” area of the imug- consultancy in Hannover provides company valuations by social, ethical and ecological criteria. The imug does not analyse international corporations in a given pattern but develops an individual and fitting ethical investment policy during the close consulting process with the clients. This work is completed with market research and communication projects due to sustainable investment.
The imug-consultancy was set up by the imug institute at the University of Hannover in 1995. The competence of the imug is focussed on the question in which way business targets like turnover, market share and profit can be linked, in the most perfect way, to real advantages for the consumer and customers, the society and environment within the context of a sustainability concept. The focus of imugs investment research for investment funds is on enquiries into companies with specific social and ecological services. This area is supplemented by market research and communication projects concerning sustainable investment. Field research projects are conducted in cooperation with the imug institute.
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| Legal form |
Gesellschaft mit beschränkter Haftung (similar to Ltd.)
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| Ownership |
Dr. Ingo Schoenheit, Prof. Dr. Dr. h.c. Ursula Hansen, Prof. Dr. Peter Hansen
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| Foundation |
1995
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| Executive Board |
Ingo Schoenheit (managing director)
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Number/qualification
of employees |
Totally there are 20 permanent employees working in the imug. In the field of Investment Research there are engaged 4 economists and social scientists with special competence in social-ecological company analysis, sustainability evaluation and ethical ecological investment.
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Advisory Board /
Council |
n. s.
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Cooperations /
Memberships |
The imug is a member of the forum for sustainable investment , of the German network for business ethics (DNWE) and they cooperate with a number of international research agencies. | |
| Background |
The business field investment-research within the imug stems from projects of company tests which have been carried out since 1992. Herein companies are rated according to their social responsibility. These company tests were the impetus to take over the company research on behalf of the Natur-Aktien-Index as well as the analysis of German major enterprises concerning to their social activity in the context of a project for CSR Europe (Corporate Social Responsibility). CSR Europe is a community of enterprises domiciled in Brussels.
The imug has become a rating agency itself after accepting a mandate by EIRIS (Ethical Investment Reseach Service a British research institute) for the rating of German, Austrian and Swiss companies according to EIRIS standards. Meanwhile imug does a lot of enquiries for a variety of customers in Germany and Europe into social and ecological behaviour of European and international corporations. As the German partner of EIRIS the imug markets the database "Ethical Portfolio Manager" consisting of 2700 international company profiles.
Because of the research of the EPM there are assets of about 40 bn. Euro screened according to sustainability criteria. Furthermore, the imug has developed a voluntary quality standard for CSR Research in cooperation with international partners (amongst others EIRIS and Ethibel).
For further information: www.csrr-qs.org
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| Research |
imug´s corporate research examines the social and ecological behaviour of German and International businesses according to varying systems of criteria. Imug follows a three step procedure in enquiring the social and ecological performance of companies.
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Primary information
Assessment of information provided by the respective company. This is carried out predominantly by questionnaires send to the companies for commenting and background information. Beyond that, company publications e.g. annual reports, social- and environmental reports or brochures, are included in the evaluation. Personal contacts to company representatives are used to round out the picture and allow specific insights into procedures and problems. Occasionally imug pays companies a visit.
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Secondary information
Assessment of media reports on company activities. In a broad news search the imug enquires on a regular basis into economical and socio-ecological issues. These regard not just companies but provide also industry standards.
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Experts know-how
Since ethical-investment is not considered a classical financial topic, expert know-how is indispensable. Hence, imug cooperates with NGO´s and various stakeholders to get their assessment on company activities and possible consequences. |
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| Criteria |
Some of imug´s criteria of ethical investment.
Social affairs:
 Stakeholder Management and Reporting
Safety and health
Relationships to suppliers and clients
Advancement for women
Diversity Management
Further education and human resource development
Job security
Employee involvement and labour unions
Regional engagement
Exposure to human rights
Work and social standards
International supplier chain
Environment:
Environmental management
Environmental politics
Environmental performance
Transparency and Reporting
Renewable Energies
Contribution to the climate protection
Greenhouse Gases
Nuclear energy
Factory farming, animal experiments
Gene technology
Pesticides, creation of PVC
Exposure to dangerous chemicals
Environment scandals
Tropic wood
Governance
Corporate Governance Performance
SEE Risks and SEE Risks Management
Bribe and corruption
Code of behaviour
Compensation system
Transparency
Party donations
“Sins”
Share of the weapon industry
Alcohol, tobacco, gamble
Abortion and contraceptives
Pornography
Fur- trade
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| Ranking- / Rating-System |
imug does not conduct company ratings according to own standards but utilises different systems of criteria provided by customers or partners e.g. EIRIS, NAI.
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| Quality Management |
imug performs the following activities to assure the quality of information accumulation and the evaluation process:
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imug fulfils a quality standard (cp. www.imug.de). The standard states among other things |
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Within a handbook “imug´s qualitystandards and qualitymanagement“ the workflow for each project is described and continually updated. |
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Every analysed company has the option to get to know their sampled data and may comment on them. |
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imug conducts its company-research in dialog with numerous stakeholders |
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Every customer, journalist, or interested person has the option to get to know and check Imug´s questionnaires, handbooks, information sources and methodologies |
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imug participates in public initiatives serving improved transparency and research quality. This is currently especially the initiative of the European Commission to develop a voluntary quality standard for SRI-research. |
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The development of this voluntary quality standard is carried out in cooperation with numerous independent research agencies, e.g. SIRI-Group, Ethibel, EIRIS. |
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| Products & services |
Ethical Portfolio Manager
The Ethical Portfolio Manager contains information about 2700 enterprises from Great Britain, Europe, the USA, Canada, Australia, Japan, Hongkong, Singapur analysed in 250 areas of criteria.
Individualised research according to specific demands (e.g. for the NAI Nature Stock Index, regarding corporate governance, small and mid caps etc.)
EIRIS Country Sustainability Rating. A country-evaluation including 65 nations (OECD- countries and emerging markets) according to social, ecological and governance criterions.
Sustainability evaluation of bond emitter
Investment consultancy: Conception of sustainable investment politics, screening of portfolios, consulting of exercises in communication and distribution
Surveys into customer satisfaction and service quality at
ethical-ecological banks and productsponsors.
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| Clients |
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NAI - Natur-Aktien-Index (Nature Stock Index) |
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EIRIS, London |
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CSR Europe |
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Lupus alpha Asset Executive Board GmbH |
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Invesco Phoneds für Orden und Ökumene, Phoneds für Stiftungen |
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Union Investment Institutional |
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Ethikbank |
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Umweltbank |
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Euroconsumers | Greenpeace Stiftung
ICRT, London
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| Contact |
imug Beratungsgesellschaft für sozial-ökologische Innovationen mbH
Brühlstr. 11
D-30169 Hannover
Deutschland
Phone: +49 (0)511/12196-0
Fax: +49 (0)511/12196-95
E-Mail: contact@imug.de
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| Contact person |
Silke Riedel
Head of imug Investment Research
E-Mail: riedel@imug.de |
| Web |
www.imug.de | |