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The stakeholders

The FNG Label was initiated and developed by Forum Nachhaltige Geldanlagen (FNG), which laid the foundation for quality standards for sustainable mutual funds by introducing the Eurosif Transparency Logo in 2008 and the FNG Sustainability Profiles in 2012. Auditing is handled by the independent media and research centre Novethic. Gesellschaft für die Qualitätssicherung Nachhaltiger Geldanlagen mbH (GNG) coordinates the application procedure, distribution and the auditing process and is responsible for awarding the Label. In this role, GNG is advised by an independent, multidisciplinary committee.

Forum Nachhaltige Geldanlagen e.V. (FNG)
Forum Nachhaltige Geldanlagen (FNG) initiated and developed the FNG Label together with financial experts and civil society representatives, in a comprehensive stakeholder process. As the industry association for sustainable investment in Germany, Austria, Liechtenstein and Switzerland, it represents over 180 members, who are working to promote sustainability in the financial sector. These include banks, investment companies, rating agencies, financial advisors, academic institutions and private individuals. FNG promotes dialogue and the exchange of information between the worlds of business, academia and politics, and has been working to improve the legal and political framework for sustainable investments since 2001. It awards the Transparency Logo for sustainable mutual funds and publishes the FNG Sustainability Profiles. FNG is also a founding member of the European umbrella association Eurosif.


Gesellschaft für die Qualitätssicherung Nachhaltiger Geldanlagen mbH (GNG)
The role of Gesellschaft für Qualitätssicherung Nachhaltiger Geldanlagen (GNG mbH) is to make an active contribution toward assuring the quality of sustainable investments in the German-speaking countries through the certification of financial products and the development of standards, methods and services. GNG mbH is a wholly-owned subsidiary of FNG e.V. and provides a range of services to support the goals of the industry association for sustainable investment in Germany, Austria, Liechtenstein and Switzerland. The auditing process is also monitored by an independent advisory committee of experts from a variety of disciplines. Further information on the FNG Label can be found at www.fng-siegel.org.


Auditing partner University of Hamburg
The Research Group on Sustainable Finance of University of Hamburg combined know-how in area of finance and investments, accounting and strategic management. It aims to examine the specific role of financial markets and capital investments in sustainability. In addition to academic research, it is characterized by the empirical analysis of an interdisciplinary approach and a strong link between science and practice.
Next to Professor Alexander Bassen is Professor Timo Busch a active part in the group, who together with his staff of the chair "Management and Sustainability" carries out the operationalization of the audit and is responsible for further developments of the methodology of the FNG label.


The Label Committee is a key element of the Label’s organisational model. It comprises various stakeholders from the sustainable investment field, such as institutional and retail investors and representatives from NGOs, industry associations and the academic world. The three FNG countries, Germany, Austria and Switzerland, are also represented on the committee. It has an advisory role, and its independent expertise underpins the Label concept and contributes to its development. The Committee’s tasks include, amongst other things, drawing up recommendations for the assessment of engagement and for dealing with complaints and complex or difficult cases. In addition, the Committee has the right to see the fund’s audit reports and to conduct random checks.

The Committee is composed of the following members:

  • Claude Amstutz, Senior Advisor Sustainable Finance, WWF Switzerland, Switzerland
  • Mag.a Susanne Hasenhüttl, Research Associate, ÖGUT – Austrian Society for Environment and Technology, Austria
  • Prof. Dr. Christian Klein, Chairholder, University of Kassel, Germany
  • Dr. Christoph Weber-Berg, President of the Church Council, Reformed Church of Aargau, Switzerland


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