Index profile


Index family
Natur-Aktien-Index (NAI)


The index was developed in 1997 by Max Demel on behalf of natur&kosmos. It is supposed to measure the economic success of companies, which contribute globally to the development of ecological and social sustainable management styles. According to the index provider, the index is constructed in a way, that it visualises the chances of sustainable investments, through comparison of international stock indices.

The NAI follows specific criteria:

- a standardized testing- and evaluation procedure before a company is admitted. The results are publicly accessible,

- ongoing further development of the evaluation procedure to include the latest international standards, the latest publicly accessible information and the latest trends among the experts community,

- the establishment of a monitoring system for the update of company relevant data,

- immediate investigation into reports about violations of the criteria.

Excluding criteria

Not accepted to or taken of the index are companies with business in the following areas:

- production or marketing of nuclear energy or technology

- production or marketing of armament (e.g. firearms, tanks, mines) or more than 5% of turnover from military equipment

- discrimination against women, social or ethnic minorities

- oppressing or hindering union activities

- parts of the production or supplies from child or forced labour

- activities in countries which are banned by acknowledged protest movements

- animal testing, except where required by law (environmental protection, chemicals testing, medicine)

- circulation of genetically modified plants, animals or bacteria, or production or trade of likewise modified food products

- exceptionally health or environmentally damaging products or production e.g. pesticides, fossil fuels, CFC

- advertising exceptionally health or environmentally damaging behaviour in their core business (more than 25% of sales)

- withholding of important environmental and health key figures (Energy input, water consumption, amount of waste, accidents or illnesses due to pollutants, emissions, each in relation to sales or number of products)

- repeated or continuous violations of laws and regulations

Also not accepted are companies holding shares or have directive authority in afore mentioned companies (e.g. blocking minority, board memberships, supervisory board majorities). This applies especially for parent companies whose core business is armament.

Positive criteria

Companies listed on the index have to fulfil a minimum of two out of the four criteria following:

- The company offers products or service contributing significantly to ecological and social sustainable solutions of major problems of mankind

- The company is industry leader for product design

- The company is industry leader for the technical design of production and -distribution

- The company is industry leader for the social design of production and distribution

Research done by


Funds based on the index GreenEffects NAI-Wertefonds
Finance-/tech. - support by Structured Solutions / Securvita
Benchmark MSCI World
Company profiles Kurzprofile der im NAI gef├╝hrten Unternehmen finden sich unter und unter

This indice profile is aligned with the index provider.