Criticism levied by Foundation Warentest against the environmental policies of sustainable funds.
In the realm of sustainable finance, the Institute for Provision and Financial Planning (IVFP) has introduced a tool that could revolutionise the way financial advisors approach savings products – the IVFP sustainable fund policy rating. This innovative rating system is designed to help financial advisors identify suitable savings products with a focus on sustainability, taking into account the sustainability approach of the products.
The rating system, which evaluates over 90 tariffs from 41 providers based on 18 criteria, is not limited to new products but also includes existing ones with a purely sustainable orientation. It provides financial advisors with an initial overview of insurers addressing sustainability, serving as a starting point for personal research and complementing IVFP's product ratings.
Georg Goedeckemeyer, an observer in the financial sector, notes that German insurers are tapping into a future market by offering products in different shades of green. The current sustainable fund policy rating boasts 39 top-rated tariffs, compared to around 20 last year, indicating a growing trend towards sustainability in the industry.
Some of the top tariffs with very good sustainability ratings include Allianz's Privatrente Invest Flex Green and Privatrente Invest Flex, Barmenia's Privatrente Invest, Basler's Invest Garant and Invest Vario, Continentale's Rente Invest Garant, and Ergo Life's Ergo Rente Chance Select and Ergo Vorsorge's Rente Balance and Rente Chance. Other notable mentions are HDI's Clever Invest Privatrente, LV 1871's Mein Plan, Standard Life's Maxxellence Invest, Stuttgarter's Flexrente Performance Plus, Swiss Life's Investo, WWK's Premium Fonds Rente, and Zurich Dt. Herold's Vorsorgeinvest Spezial.
However, it's important to approach index-linked annuities without a capital guarantee with caution, as Stiftung Warentest warns that these products, while seemingly attractive in times of low interest rates, can often be expensive.
In a separate evaluation, the "Pangaea Life Investment Rente" fund policy from Allianz stands out with its unique investment concept. Meanwhile, Finanztest has examined 29 index-linked annuities without a capital guarantee, but there are currently no direct search results identifying which companies offer sustainability-oriented index annuities in the German market.
The head of ratings at the IVFP states that life insurers have significantly improved their sustainability offerings, signalling a promising future for sustainable finance in Germany. As more and more insurers embrace sustainability, customers with sustainability preferences can look forward to a wider range of suitable savings products in the near future.
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