Hanover, 20th March 2023
imug rating GmbH (Hanover), leading German provider for strategy and implementation of ESG investments as well as for sustainability assessments, became part of the EthiFinance Group on 15th March 2023. Previously, imug rating was a wholly owned subsidiary of imug Beratungsgesellschaft.
EthiFinance is an independent European rating, research and advisory group for investors, companies and organisations in the sustainable finance market, based in Lyon. The group aims to become the leading European agency for financial and non-financial ratings.
Since its foundation in 1992, imug has been a German pioneer in sustainability research. As a subsidiary, imug rating supported sustainable investments and financing for players in the German-speaking financial market. Today, the imug rating team has 30 employees. As a regional provider with global expertise, the company has established itself as a partner for sustainable ESG strategies, data and reporting as well as for credible Second Party Opinions, Sustainability Ratings and expert opinions.
Axel Wilhelm, Managing Director of imug rating, says: “Joining forces with a strong partner is an important and right step forward in a growing and increasingly regulated European market for ESG ratings. EthiFinance has long shared our values and understanding of independent and high-quality information for the sustainable financial market. We are therefore very much looking forward to further developing our services together with the quality and high expertise of the European EthiFinance teams. For our clients and partners in German-speaking countries, we will remain the first point of contact for competent, independent ESG information and assessments.”
“We are delighted and proud to welcome the team and expertise of imug rating to our European group. We thank the previous share-holder for their trust, especially the founder Dr. Ingo Schoenheit. Together with Axel Wilhelm and his team, we will now continue to drive the development of the group in Germany. We want to take advantage of the joint growth opportunities to better serve our clients across Europe – as we did with last year’s integration of Axesor Rating, an ESMA-registered Spanish credit rating agency,” said Carol Sirou, CEO of EthiFinance.
EthiFinance, now present in five locations in Germany, Spain and France, covers almost two thirds of the population, GDP and companies within the Eurozone. This scope enables the group to efficiently support companies and their investors in addressing new challenges in the European capital market over the long term: After the European CSRD Directive came into effect at the beginning of 2023, around 50,000 companies in the EU will have to prepare a detailed and audited sustainability report each year between 2025 and 2027 in accordance with standardized rules. Further regulations are already being prepared.
“We have taken an important step in the implementation of our strategy to establish EthiFinance as a leading European player in the sustainable finance market. All market participants who are committed to the topic of ‘double materiality’ will find all the methodological and practical answers they expect at EthiFinance”, Carol Sirou emphasises.
EthiFinance is a European independent consulting, research as well as financial and non-financial rating services group. EthiFinance is recognized for its methodological rigor and its original approach to dual materiality. EthiFinance fosters trust between investors, stakeholders and companies to support their societal and environmental transformation. Key data: Locations: Paris, Lyon, Madrid, Granada and Hanover More than 160 employees and over 400 clients
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