With a commitment to aiding major European investors in achieving the 1.5-degree path to mitigate climate change, we recognize the importance of assembling a team passionate about this mission: Zielke Research Consult GmbH

“Given the ever-changing environment, we pride ourselves on our responsiveness and agility.”

Zielke Research Consult GmbH is a consulting firm specializing in financial and Environmental, Social, and Governance (ESG) analyses. It caters to insurance companies, banks, and institutional investors, assisting them in navigating the evolving regulatory landscape, particularly in Corporate Social Responsibility (CSR) and financial reporting domains.

With a professional team of experts, Zielke provides clients with independent research and analysis rooted in proven proficiency in asset liability management. The firm remains abreast of the latest trends in financial and sustainability accounting standards and regulations to offer tailored, needs-based advice to its customers. Leveraging its expertise, Zielke assesses financial products for sustainability under the SFDR framework and advise clients on their investment and product portfolios.

The firm’s managing partner, Dr. Carsten Zielke, holds memberships in prestigious international committees such as the European Financial Reporting Advisory Group (EFRAG) and FinDaTex.

The Silicon Review reached out to Dr. Zielke for an interview, and here’s what he had to say.

Interview Highlights

Q. Please tell us about the circumstances or events that led to the founding of Zielke Research Consult. 

Zielke Research Consult was founded in April 2013 with a manager and an employee. Now, we have two managers and eight employees. Our turnover increased from €60,000 to approximately €700,000.

Q. As a consulting company specialized in financial and ESG analyses, what are Zielke’s key focus areas?     

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, our responsibility extends to advising the German government via the Federal Environmental Agency of Germany and by engaging with the European Financial Reporting Advisory Group (EFRAG), the EU Commission. Through this collaborative exchange, we advocate for regulatory frameworks that promote sustainable finance principles, ultimately benefiting our clients such as Zürich, AXA, Fidelity, and numerous others.

Q. What strategies does Zielke implement to exceed client expectations?     

We advise and analyze 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.

• Independent Third-Party Review (Objectivity and impartiality)
• Comprehensive Evaluation (Gain insights into different facets of AL management practices)
• Expertise and Specialization (Insights tailored to their specific needs, high quality analysis, and recommendations based on best practices)
• Risk Mitigation (Identify and mitigate potential risks more effectively, and enhance risk management practices and safeguard financial interests)
• Enhanced ESG Integration (ZRC assists in integrating ESG considerations into their asses liability framework, and enhance long-term performance/resilience while aligning with sustainability goals)

Overall, by choosing Zielke Research Consult GmbH, clients benefit from independent, comprehensive, and specialized expertise that facilitates informed decision-making and risk management.

Q. Can you provide us with one or two success stories, detailing specific client challenges and how Zielke’s solutions contributed to their success?    

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

Comprehensive Analysis: Our commitment to analyzing 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 analyze 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.

Q. Tell us about the Zielke team. What value do they bring to the company?   

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 recognize 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.

Q. What new endeavors is Zielke currently undertaking?         

Zielke Research Consult’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 utilized 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 analyze and disseminate this data to further support informed decision-making and sustainable practices globally.

Q. Is there anything you would like to add before we wrap up? 

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

About Carsten Zielke

Carsten Zielke (DVFA and SFAF) has a PhD in insurance economics and has been very 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 specialized 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).

“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.”