Novethic launches call for German SRI label applications
Applications for the German socially responsible investing label FNG (German Sustainable Investment Forum) are opened, French SRI research company and label’s partner Novethic said.
Asset managers can submit their applications in French, English or German and will be accepted through July 17th 2017. Final results will be released end of November 2017.
The certification scheme is open to all sustainable mutual funds that are Ucits-compliant and that are distributed at least either in Germany, Austria, Switzerland or Liechtenstein.
The FNG label which was launched in 2015 has been awarded to 38 funds from 17 asset managers last year. Seven funds have received the highest grade of three stars, 21 funds two stars and 10 funds one star.
Specific requirements are needed in the following areas to obtain the label: transparency, process quality (at least an ESG analysis of 90% of the assets in the portfolio) and exclusions (for instance no companies in nuclear, weapon; no countries with low score in international human rights or corruption rankings).