OSLO 2005-10-18: To focus on growing corporate ratings services, DNV sells the investor subscription business part of CoreRatings.

DNV has divided CoreRatings into corporate ratings services and subscription analysis business. The subscriptions business has been sold to Innovest Strategic Value Advisors, a global leader in the provision of extra-financial analysis to fund managers. Innovest will integrate CoreRatings research methodology into its second-generation analysis tool for investment clients.

DNV will keep the CoreRatings corporate services business, including its corporate governance and corporate responsibility assessments and ratings, name, methodology, intellectual property rights, and senior team of ratings experts.

Managing extra-financial risk a necessity
Through its 300 offices worldwide, DNV is well established in the field of environmental and social certification and assessment of companies around the globe. The CoreRatings methodology has been widely accepted by the corporate and finance sectors. Ratings on extra-financial risks are becoming increasingly important for assessing the management quality and true value of companies. A systematic approach to identifying, managing and reporting material extra-financial risks is becoming a necessity for business, particularly under new governance rules and reporting requirements such as the Operating and Financial Review, International Financial Reporting Standards (IFRS) and Sarbanes-Oxley Act.

“CoreRating’s methodology and team, together with DNV’s technical strengths, provides the expertise needed to offer mandated assessments and ratings in the area of extra-financial risk, corporate responsibility and corporate governance,” says Henrik Madsen, COO of DNV Certification. “Our CoreRatings products and global CSR services are there to assist companies from small enterprises to global corporations, both in emerging and developed economies.”

Strong CSR business resource
Together with DNV’s other CSR specialists, the CoreRatings team helps provide a strong CSR business resource for DNV. This supports DNV Certification’s focus on building sustainability services as one of three key themes in its strategic framework for 2005-2009.