Aiding Sustainability in Financial Institutions

Executive Global: What is the story of Zielke Research Consult GmbH? How has the company grown since its inception?

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Zielke Research Consult: Zielke Research Consult was founded in April 2013 with one manager and one employee. Today we have two managers and eight employees. The turnover went up from €60.000 to around €700.000.

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EG: What is the unique approach Zielke Research Consult GmbH is using to provide its services to clients? How has this approach helped the company differentiate itself from its rivals?

ZRC: We advise and analyse our clients only based on publicly available data. No questionnaires are sent, and our methodology is made public for complete transparency. We are present in the relevant national regulatory, European bodies and even in global standard setting processes such as ISO. So, we do not create more work for our clients in order to judge them, but we help them to improve their reporting according to the requirements to come. 
   

EG: What advantages do clients receive from choosing Zielke Research Consult GmbH for their asset liability management?  

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ZRC: Clients receive the following advantages:

Independent Third-Party Review

>Objectivity

>Impartiality
 

Comprehensive Evaluation

>Gain insights into different facets of AL management practices
 

Expertise and Specialisation

>Insights tailored to their specific needs

>High quality analysis + recommendations based on best practices
 

Risk Mitigation

>Identify and mitigate potential risks more effectively

>Enhanced risk management practices & safeguard financial interests
 

Enhanced ESG Integration

>ZRC assists in integrating ESG (Environmental, Social, Governance) considerations into their asset liability framework.
>Enhance long-term performance/resilience while aligning with sustainability goals. Overall, by choosing Zielke Research Consult GmbH for their asset liability management needs, clients benefit from independent, comprehensive, and specialised expertise that facilitates informed decision-making and risk management. 

EG: Over the years of its existence, Zielke Research Consult GmbH has solidified its position in the banking and insurance ranking sector. What factors do you attribute the company’s success to?

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ZRC: The success in the banking and insurance ranking sector can be attributed to several key factors including:
 

Comprehensive Analysis

Our commitment to analysing every bank and insurance company falling under the current regulation to publish sustainability reports.
 

Independence and Objectivity

Regardless of the company being our client or not, we analyse them.
 

Value-Added Services

By providing insights and suggestions for improvement to our clients. This proactive approach helps our clients enhance their sustainability reporting practices, contributing to their long-term success and competitiveness.
 

Fostering Competition:

Due to our ranking, the competitive environment among institutions striving to outperform their peers has led to improvements in sustainability reporting practices across the sector, benefiting both individuals and the industry.
 

Extensive Coverage:

Through our approach we have managed to achieve the widest coverage in the banking and insurance ranking sector.
 

EG: What are the various consulting services offered by Zielke Research Consult GmbH? Can you please break them down for our readers?

ZRC:  We provide comprehensive ESG and Solvency Reporting Benchmarks, highlighting areas for improvement and offering valuable insights for enhancing transparency and accountability in reporting practices. ZRC certifies asset management and life insurance products that comply with the EU taxonomy regulation. We also confirm the new DIN sustainability score, providing clients with validation and assurance regarding their products. The company advises clients on new regulatory developments, helping them navigate complex regulatory landscapes and staying compliant with evolving requirements. This advisory service ensures that clients remain informed and prepared to address regulatory changes swiftly and effectively. Lastly, we serve as an advisor to the German government and, through our engagement with the European Financial Reporting Advisory Group (EFRAG), the EU Commission. This interactive dialogue allows the company to advocate for regulatory frameworks that align with sustainable finance principles.

EG: How important has hiring the right personnel been for the company? What measures does the company take to ensure talent retention?

ZRC: Although our office is in Germany, our staff is highly diverse and represents many different nationalities. An ESG expertise is the first criteria to get hired and has been crucial for the company’s success. With a commitment to aiding major European investors in achieving the 1.5-degree path to mitigate climate change, we recognise the importance of assembling a team passionate about this mission. Including them in the standard setting process, helps foster a sense of ownership and achievement which enhances job satisfaction and in return loyalty/commitment to the company and its objectives.

EG: What are Zielke Research Consult GmbH’s plans for the future?

ZRC: Zielke Research Consult GmbH’s plans for the future revolve around delivering high-quality ESG (Environmental, Social, and Governance) data and making it accessible to those interested in conducting their own risk assessments. Currently, our data is utilised by major entities such as the largest German insurance broker, who employs it alongside an AI solution to offer informed advice to their clients. By certifying asset management products, we also create ESG data on corporates worldwide. With the impending introduction of the new European Sustainability Reporting Standards in the coming year, we anticipate a significant increase in our data household. Consequently, we plan to analyse and disseminate this data to further support informed decision-making and sustainable practices globally.

EG: Would you like us to highlight something important happening in your company that we may have missed asking about? 
 

ZRC: Given the ever-changing environment, we pride ourselves on our responsiveness and agility. We’re not afraid to take opposing views and are often vocal about them, even in public forums. Interestingly, we’ve observed that some of these contrarian stances have later evolved into significant market trends.   EG
 

Carsten Zielke (DVFA and SFAF) has a PhD in insurance economics and has been vry much involved in reporting issues for the last 25 years (EFRAG/IASB/DRSC). He is running his own research company Zielke Research Consult GmbH in Aachen/Germany specialised in solvency and ESG research (since 2013) on financial institutions. Before this, he worked as an insurance analyst and advisor at WestLB, Bear Stearns and Société Générale. Carsten holds mandates in supervisory and advisory boards of one German insurance company and one French bank. He is married, has two children and is a passionate long-distance triathlete (39 Ironmen so far).