The FNG-Labels and this year's application period
Established FNG-Label
- The established FNG-Label still covers all other investment styles with sustainability-related objectives (e.g., values-based approaches, ESG risk and opportunity management, or sustainable investments according to the SFDR and/or EU Taxonomy).
Through this, it recognizes “well-structured sustainability funds”. Regardless of whether these funds fall under the ESMA guidelines on fund names. - The minimum exclusion criteria remain unchanged, except for the integration of the OECD Guidelines for Multinational Enterprises on responsible business conduct as an alternative to the ten core principles of the UN Global Compact.
- Stronger integration of regulatory documents reduces the application effort.
FNG-Label Transition
- A separate Transition-Label is needed: The FNG-Label Transition is being introduced as a separate label, as the established FNG-Label provides clear guidance with fixed minimum requirements and exclusions. Any deviation from these standards could create confusion.
- In addition to the established FNG-Label, there is a new FNG-Label Transition.
- This new quality mark will, in a familiar manner, transparently depict varying quality levels of sustainable investments with a transition strategy, using minimum requirements (“must-haves”) and a grading model (“optional extras”) with up to three stars.
- The minimum exclusions follow the ESMA fund name guideline, applying CTB exclusions. Additionally, stricter exclusions already known from the established FNG-Label are enforced for weapons and armaments.
Start of application and new Pre-Screening-Possibility
- The application period for both FNG-Labels will begin on March 3. Anyone who wants to be sure of undergoing the full review and assessment process, including sparring sessions and a telephone conference, should apply by July 7.
- For those who need more time: The application period is divided into two additional phases and extended until October 9 (possibly reduced sparring).
- New Pre-Screening: starting March 3, you can opt for a pre-screening that – with reduced resource expenditure and a concise set of questions – quickly determines whether your product meets the fundamental features and strategies required for the minimum requirements of one of the FNG-Labels, and which label (the established FNG-Label or the FNG-Label Transition) is best suited. This provides a solid basis for deciding whether to proceed with a full application.
*Please fill out your profile completely when registering so that it can be assigned during the activation process. Registrations without a completed profile cannot be processed.
**Please note that once all submitted products have passed the minimum requirements, it is technically no longer possible to book/activate further products. Therefore, please have the desired number of products activated at the beginning of the process.
IMPORTANT: Applicants who have already registered/applied should log in with their existing access data!
Application period FNG-Labels 2027:
- 03.03.2026 to 07.07.2026 (complete assessment incl. sparring & telephone conference)
- Plus: extension possible until 09.10.2026 (possibly reduced sparring)
- Assessment and evaluation process/sparring: until 06.11.2026
Award ceremony at the Römerberg in Frankfurt am Main: 10.12.2026
The FNG-Label
online platform
- Register at www.fng-siegel-audit.org and interact directly with the assessment team. Applicants who have already registered/applied, please log in with the existing account information.
- Structured and quick entry and transmission of your data thanks to a step-by-step online questionnaire.
- Save time when entering your data by transferring data from a reference fund.
- Secure handling of your data via encrypted servers.
ESG INSIDE: Information for product managers
Advertising sustainability is easy. Therefore, it is even more important to verify genuine quality and make it visible. Show investors and distribution partners at a glance that your sustainable products meet or exceed today’s expectations for sustainability funds.
The independent research and assessment is carried out by the non-profit academic association F.I.R.S.T. in conjunction with Advanced Impact Research GmbH (AIR) as a university spin-off. Prof. Dr. Timo Busch from the University of Hamburg is on the academic advisory board. In this context, F.I.R.S.T. bears overall responsibility, in particular for the coordination, awarding, and marketing of the FNG-Label. The review process is also monitored by an external committee with interdisciplinary expertise.
Requirements and
application documents
Sustainably managed investment funds or similar investment vehicles of all asset classes can apply for the FNG-Label, provided they comply with the UCITS or an equivalent standard and are authorized for distribution in at least one of the following countries: Germany, Austria, Switzerland, or Liechtenstein.
Each Label requires the fulfillment of certain minimum requirements. To be awarded the Label, the product has to meet all minimum requirements. Applicants who apply for both the minimum requirements and the grading model may achieve up to three stars in the grading model, signaling varying levels of quality. The number of stars awarded depends on the number of percentage points achieved in the grading model.
As stated in the rules of procedure, the assessment team from Prof. Dr. Timo Busch has the right to request additional documents to verify the product’s compliance with the Label’s criteria.
FNG-
Sustainability Profile
The FNG-Sustainability Profile provides a brief overview of a fund’s sustainability information and supplemental data.
Examples may be found here. Depending on the fund the data may be available in English.
Further
Information
You should also download the rules of procedure before filling in the questionnaire to be able to better understand the Label criteria.
Should you require more detailed information about the application process, the application requirements, and the Label criteria, please contact us at fng-siegel-pruefung@air4p.org/roland.koelsch@first-ev.org or by phone at +49 178 5635724.
We would also be happy to visit your office to discuss the FNG-Label. Please contact us to arrange an appointment.
Explanatory videos
about the FNG-Label
FNG-Label Process
-Minimum Requirements-
In this video, we explain the labeling process and give you further information on the minimum requirements of the FNG-Label.
FNG-Label Process -Grading Model-
In this video, we explain the procedure of the grading model. The grading model – as the voluntary part after the successfully completed mandatory part – gives you the opportunity to receive a higher award of up to three stars in addition to the minimum requirements.
FNG-Label Process -Referencing-
In this video, we explain the feature “referencing“. We go into the basic idea behind referencing and show you how to use it in the Online-Tool.
How does the Online-Tool work?
In this video, we explain how the Online-Tool works.
FNG-Siegel
Der Qualitätsstandard für Nachhaltige Geldanlagen im deutschsprachigen Raum.
F.I.R.S.T. e.V.
Rentzelstr. 7
D-20146 Hamburg
Tel: +49 178 56 35 724
E-Mail: info@first-ev.org
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