ICG Institut für Corporate Governance

What ICG Institut für Corporate Governance does

ICG Institut für Corporate Governance in der deutschen Immobilienwirtschaft e.V. is a registered non-profit association (eingetragener Verein) founded in 2002 and headquartered at Leipziger Platz 9, Berlin. It operates as Germany's leading think-and-do-tank dedicated to corporate governance, compliance management, and values-based corporate culture in the German real estate industry. The organization develops and disseminates governance frameworks, codes (CG Code, Baukultur Code, Diversity Code, SII Code), compliance specifications (Pflichtenheft), and handbooks; delivers the ICG Compliance Management Certification System aligned to IDW PS 980; provides a 38-question Online Self-Audit; operates the Real Estate Board Academy for board member training; and runs flagship events including the German Real Estate Summit (annual since 2002), ICG Lounge, Risk & Governance Day, and Transformation Day. Its current leadership comprises Susanne Eickermann-Riepe FRICS (Chairperson, former PwC German Real Estate Leader) and Karin Barthelmes-Wehr (Managing Director since 2003).

ICG monetizes through five primary streams: (1) corporate and personal membership fees (recurring); (2) compliance certification fees (€6,000 flat fee per certification, with audit costs agreed separately with accredited auditors — 34 certifications issued since 2010); (3) event participation fees (e.g., Transformation Day at €145 members / €195 non-members + VAT); (4) tiered sponsorship revenue for thematic initiatives (SII 3.0 has 18 sponsors across Gold, Silver, and Premium tiers including Catella, Deka, Goldbeck, LBBW, OFB, Tattersall, PGIM, DZ HYP, HIH, Instone, etc.); and (5) freemium publication downloads that serve as lead generation. Distribution is primarily domestic Germany, delivered through direct member engagement, an accredited third-party auditor network for certification, and event-based channels, with strategic partnerships extending reach to international bodies (RICS, ULI, ICGN).

The organization's strategic posture is community-led and event-driven, with a 2026 partnership with the Real Estate Brand Institute (REB) launching the Governance & Leadership Index (GLI) — a data-based benchmark piloted with Tattersall Lorenz, Drees & Sommer, and GSK Stockmann — representing a meaningful expansion into measurement products. It also co-developed the DGNB 'Social Positive' certification and the Bundesstiftung Baukultur Code, anchoring ICG in adjacent regulatory and standards-setting ecosystems. Notable customer logos span housing (HOWOGE, GESOBAU, Sprinkenhof, GWG, WERTGRUND, Vonovia), commercial real estate (ECE), facilities management (AHS, ista), advisory (JLL), and financial services (Commerz Real). ICG was renamed from 'Initiative' to 'Institut' in 2017, became climate-neutral in 2020, and has won industry awards including the 2017 Property Manager Award (Social Responsibility) and PLATOW Real Estate Award 2021.

Name

ICG Institut für Corporate Governance

Legal name

Institut für Corporate Governance in der deutschen Immobilienwirtschaft e.V.

Website

https://icg-institut.de

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

ICG Institut für Corporate Governance is a non-profit association founded in 2002 that develops governance frameworks, compliance certification (IDW PS 980 aligned), board training, and flagship events for Germany's real estate industry, serving corporate members, certified entities, and supervisory board members.

Ownership category

akta.pro rank

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Membership fees: ICG operates as a registered association (e.V.) funded primarily through membership fees from corporate and personal members. Members include leading real estate companies and professionals in the German real estate industry. Membership provides access to certification, events, guidelines, and networking.
2. Compliance certification fees: ICG charges a flat fee of €6,000 for compliance management certification. Additional audit costs are agreed between the company and the auditor. Since 2010, 34 first-time certifications and re-certifications have been issued.
3. Event participation fees: Revenue generated from paid events and seminars, including the Transformation Day (€145 for members, €195 for non-members + VAT), Real Estate Board Academy seminars, and other professional development programs.
4. Sponsorship revenue: SII Initiative 3.0 is funded by multiple sponsor tiers (Gold, Silver, Premium) including Catella Real Estate, Deka Immo, Goldbeck, LBBW, OFB, Tattersall, and others. The CSR initiative is supported by Premium, Gold, and Silver sponsors including Union Investment, Vonovia, Bilfinger, DWS, and others.
5. Publication sales and downloads: ICG publishes guidelines, handbooks, and studies (e.g., 'Handbuch für eine neue Immobilienwirtschaft', CSR Leitfaden, Compliance specifications) available for free download upon email registration, serving as lead generation for membership and certification.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

ICG is a German registered association (e.V.) and the leading Think and Do-Tank for corporate governance in the German real estate industry. It develops governance frameworks, codes, and guidelines, issues compliance management certifications aligned with IDW PS 980, delivers board-level professional development through the Real Estate Board Academy, hosts flagship events such as The German Real Estate Summit, and runs thematic initiatives on Social Impact Investing, CSR, and Diversity on Boards.

Product overview

ICG Institut für Corporate Governance operates as a multi-platform governance organization offering a comprehensive portfolio of certification, training, networking, and advisory services. The core offering is the Compliance Management System (Zertifizierungssystem) with associated Online Self-Audit tool, providing organizations with certified governance frameworks. This is complemented by the ICG Real Estate Board Academy for professional development, flagship events including the German Real Estate Summit, Risk & Governance Day, Transformation Day, and ICG Lounge networking format. Thematic initiatives include the Social Impact Investing Initiative (SII), CSR Initiative, Diversity on Boards Programme with mentoring, and NextGen Board Forum. The organization also provides an Arbitration Court for dispute resolution and maintains an extensive library of governance codes and publications.

Differentiator

Problem solved

Functional benefit

Brands

• ICG Real Estate Board Academy: Training and development program for supervisory and advisory board members in the real estate industry, including Operational Excellence, Advanced Skills, and Chairwo/men's Lounge programs
• The German Real Estate Summit
• ICG Lounge
• ICG Risk & Governance Day
• Social Impact Investing Initiative
• Diversity on Boards
• ICG NextGen

Products and services

• ICG Compliance Management Certification Certification system for compliance management in the real estate industry, based on ICG's List of Specifications (Pflichtenheft), oriented toward the IDW PS 980 testing standard and recommended as the industry standard for the real estate sector. Delivered through accredited third-party auditors. Flat certification fee of €6,000 plus separately agreed audit costs.
• ICG Online Self-Audit Free web-based self-assessment tool comprising 38 questions that provides companies with an initial evaluation of their values management against the ICG's six building blocks, available to any company seeking a compliance maturity self-check before pursuing formal certification.
• ICG Real Estate Board Academy Professional development platform offering structured training tracks for supervisory and advisory board members and executives in the real estate sector. Includes Operational Excellence seminars for aspiring board members, Advanced Skills seminars for experienced members, and Chairwo/men's Lounge events for supervisory board chairs of listed companies. Established in 2013.
• The German Real Estate Summit Annual flagship conference bringing together industry leaders, executives, and policymakers to discuss governance challenges, sustainability trends, and strategic developments in the real estate sector. Held annually since 2002, with the 16th edition in 2025 and 17th planned for June 2026 in Frankfurt.
• Risk & Governance Day Specialized professional event focused on risk management frameworks, corporate governance best practices, and regulatory compliance developments for real estate and construction sectors. First held in 2017.
• ICG Lounge Annual exclusive networking platform and series of events connecting ICG members, partners, and industry professionals for knowledge exchange and business development, bridging the real estate industry with other sectors. Includes ICG Lounge @Digital virtual events.
• Social Impact Investing Initiative (SII) Comprehensive program promoting socially responsible investment practices in real estate, providing guidelines, assessment frameworks, working groups (Round Tables on housing, education, senior living, neighborhoods), the SII Hub idea exchange platform, the digital Impact Hub, and the Social Impact Investing Codex. Current phase SII 3.0 launched Spring 2024.
• CSR Initiative Corporate Social Responsibility program offering guidelines, self-assessment tools (including a CSR Leitfaden practical handbook), and recognition awards for organizations demonstrating excellence in social responsibility and sustainable business practices in the real estate industry. Developed in cooperation with ZIA, Heidrick & Struggles, and Phineo.
• Diversity on Boards Programme Specialized initiative promoting diversity in supervisory and advisory boards, featuring the Women on Boards mentoring program for high-potential female managers, training workshops, the Diversity Code, the Charter of Diversity, and a talent pool connecting diverse candidates with board positions. Launched in 2016.
• ICG NextGen Board Forum Forum for emerging leaders and future board candidates to develop governance knowledge, build networks, and prepare for supervisory and advisory board roles, supported by an ICG NextGen Advisory Board. First held in 2025.
• Transformation Day Annual event addressing digital transformation, sustainable transition, and organizational change management challenges facing the real estate and construction industries. Tickets priced at €145 for members and €195 for non-members (+ VAT).
• ICG Arbitration Court Proprietary arbitration court providing dispute resolution for conflicts related to governance matters, contracts, and business disputes within the real estate and corporate sectors, particularly those arising in connection with ICG certification matters.
• ICG Governance Codes & Publications Library of proprietary governance codes, guidelines, handbooks, position papers, and research publications addressing current regulatory requirements, sustainability standards, and best practices for corporate governance in the real estate industry. Includes the CG Code, Werte-Management (Values Management) guidelines, Compliance specifications (Pflichtenheft), Baukultur Code, SII Code, Diversity Code, and the Real Corporate Governance journal.
• Governance & Leadership Index (GLI) Data-based benchmark system developed in partnership with the Real Estate Brand Institute (REB) to systematically measure, compare, and manage leadership quality and governance performance in real estate companies. Conducted as a pilot project with Drees & Sommer, GSK Stockmann, and Tattersall Lorenz.
• ICG Corporate Membership Membership-based offering for corporate members and individual members from the German real estate industry, providing access to certification, events, guidelines, publications, the Real Estate Board Academy, networking opportunities, and the German Real Estate Summit. Members include leading German real estate companies.

Quantifiable outcome

• 34 first-time and re-certifications issued since 2010
• +5 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

36 partnerships are on record, tiered core, major and minor.

• Real Estate Brand Institute (REB)coreStrategic or Co-development PartnerICG and REB formed a strategic partnership in June 2026 to jointly develop the Governance & Leadership Index (GLI), a data-based benchmark system for measuring leadership quality and governance performance in real estate companies. REB is responsible for conceptual and methodological architecture, evidence-based modeling, and analysis, while ICG contributes governance expertise and institutional anchoring in the real estate industry.
• Deutsche Gesellschaft für Nachhaltiges Bauen (DGNB)coreStrategic or Co-development PartnerICG is a partner of the DGNB's new special award 'Social Positive,' a certification for social sustainability in real estate. ICG, through its Social Impact Investing (SII) initiative, contributed significantly to the development of this certification, which for the first time makes social impact systematically measurable and visible. ICG and DGNB together set a strong signal for anchoring societal responsibility as a fixed component of a sustainable real estate industry.
• Bundesstiftung Baukultur (Federal Building Culture Foundation)coreStrategic or Co-development PartnerICG co-developed the 'Kodex für Baukultur' (Code for Building Culture) with the Bundesstiftung Baukultur. The code is a commitment by real estate companies to baukulturelle Verantwortung (building culture responsibility) through self-commitment and self-control, covering architectural, functional, and constructive design of buildings, urban development, landscape shaping, and public spaces.
• Heidrick & StrugglesmajorStrategic or Co-development PartnerHeidrick & Struggles cooperates with ICG on the Real Estate Board Academy, providing advisory board and executive search expertise to the board training program. The partnership supports the 'Women on Boards' initiative and board diversity programs.
• DeloittemajorStrategic or Co-development PartnerDeloitte supports the Real Estate Board Academy as a partner, contributing professional expertise in auditing, consulting, and real estate industry knowledge to the board training and professional development programs.
• Flick Gocke SchaumburgminorStrategic or Co-development PartnerFlick Gocke Schaumburg supports the Real Estate Board Academy as a partner, contributing legal and tax expertise to board-level professional development programs.
• Catella Real Estate AGmajorGTM or Marketing PartnerCatella Real Estate is a Gold Sponsor of the SII Initiative 3.0, supporting the development and dissemination of Social Impact Investing frameworks in the German real estate industry.
• Deka Immobilien InvestmentmajorGTM or Marketing PartnerDeka Immobilien Investment is a Gold Sponsor of the SII Initiative 3.0, contributing to the funding and promotion of social impact investing initiatives.
• Goldbeck GmbHmajorGTM or Marketing PartnerGoldbeck GmbH is a Gold Sponsor of the SII Initiative 3.0.
• Landesbank Baden-Württemberg (LBBW)majorGTM or Marketing PartnerLBBW is a Gold Sponsor of the SII Initiative 3.0, supporting the initiative's work on social impact investing.
• OFB Projektentwicklung GmbHminorGTM or Marketing PartnerOFB Projektentwicklung GmbH is a Gold Sponsor of the SII Initiative 3.0.
• Tattersall LorenzminorGTM or Marketing PartnerTattersall Lorenz is a Gold Sponsor of the SII Initiative 3.0. Additionally, Tattersall Lorenz participated in the pilot project for the Governance & Leadership Index (GLI) alongside Drees & Sommer and GSK Stockmann.
• ampEGAminorGTM or Marketing PartnerampEGA is a Silver Sponsor of the SII Initiative 3.0.
• BNP Paribas Real EstateminorGTM or Marketing PartnerBNP Paribas Real Estate is a Silver Sponsor of the SII Initiative 3.0.
• Landmarken AGminorGTM or Marketing PartnerLandmarken AG is a Silver Sponsor of the SII Initiative 3.0.
• LHI Leasing GmbHminorGTM or Marketing PartnerLHI Leasing GmbH is a Silver Sponsor of the SII Initiative 3.0.
• Terranus GroupminorGTM or Marketing PartnerTerranus Group is a Silver Sponsor of the SII Initiative 3.0.
• PGIM Real EstatemajorGTM or Marketing PartnerPGIM Real Estate is a Premium Sponsor of the SII Initiative 3.0 and a Premium Partner in the Social Impact Investing program.
• DZ HYPmajorGTM or Marketing PartnerDZ HYP is a Premium Sponsor of the SII Initiative 3.0.
• HIH InvestmajorGTM or Marketing PartnerHIH Invest is a Premium Sponsor of the SII Initiative 3.0.
• Instone Real EstatemajorGTM or Marketing PartnerInstone Real Estate is a Premium Sponsor of the SII Initiative 3.0.
• wertgrund AGminorGTM or Marketing Partnerwertgrund AG is a Premium Sponsor of the SII Initiative 3.0.
• Triodos BankminorGTM or Marketing PartnerTriodos Bank is a Premium Sponsor of the SII Initiative 3.0.
• WBM Wohnungsbaugesellschaft Berlin-MitteminorGTM or Marketing PartnerWBM is a Premium Sponsor of the SII Initiative 3.0.
• DZ HYPminorGTM or Marketing PartnerDZ HYP is a Premium Sponsor of the SII Initiative 3.0.
• PhineominorStrategic or Co-development PartnerPhineo is listed as a cooperation partner for the SII Initiative 3.0 and provides professional leadership for the social impact investing program, contributing expertise in impact measurement and social entrepreneurship.
• ZIA Zentraler Immobilien Ausschuss (German Property Federation)coreStrategic or Co-development PartnerZIA is a network partner and cooperation partner of ICG. The two organizations have collaborated on the CSR Initiative, the Diversity Code, and the founding of ZIA (initiated by ICG in 2006). ICG is a founding member of the ZIA.
• RICS (Royal Institution of Chartered Surveyors)majorStrategic or Co-development PartnerRICS is a network partner of ICG and the SII Initiative 3.0. RICS supports the promotion of professional standards in the German real estate industry and is represented on the ICG's mentoring program.
• ULI Germany (Urban Land Institute)majorStrategic or Co-development PartnerULI Germany is a network partner of the SII Initiative 3.0, contributing expertise in urban development and sustainable land use to ICG's social impact investing initiatives.
• ICGN (International Corporate Governance Network)majorStrategic or Co-development PartnerICGN is listed as a network partner of ICG on the partner page, contributing to international corporate governance standards and network development.
• NuveenminorGTM or Marketing PartnerNuveen (Premium Partner) and PGIM (Premium Sponsor) are listed as Premium Partners/Sponsors of the SII Initiative 3.0.
• Union InvestmentmajorGTM or Marketing PartnerUnion Investment is a Premium Sponsor of the ICG CSR Initiative.
• VonoviamajorGTM or Marketing PartnerVonovia is a Premium Sponsor of the ICG CSR Initiative.
• Bilfinger SEminorGTM or Marketing PartnerBilfinger SE is a Gold Sponsor of the ICG CSR Initiative.
• DWS GrundbesitzminorGTM or Marketing PartnerDWS Grundbesitz is a Gold Sponsor of the ICG CSR Initiative.
• PricewaterhouseCoopers (PwC)minorStrategic or Co-development PartnerPwC provides friendly support for the SII Initiative 3.0. Additionally, Susanne Eickermann-Riepe, ICG Board Chair, previously served as German Real Estate Leader at PwC.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• DCGK (Regierungskommission Deutscher Corporate Governance Kodex): Governmental commission issuing the German Corporate Governance Code for listed companies. DCGK is a broader, regulator-mandated incumbent setting national governance standards for all sectors, whereas ICG applies governance specifically to the real estate industry.
• ICGN (International Corporate Governance Network): Global governance network representing institutional investors and corporate governance professionals. ICGN is a broader incumbent operating globally across all sectors, while ICG is sector-specific to German real estate — and is already listed as an ICG network partner.
• ULI (Urban Land Institute): Global real estate research and education organization with an active ULI Germany chapter. ULI is a broader incumbent focused on land use, urban development, and sustainability across many markets, while ICG focuses narrowly on German corporate governance.
• RICS (Royal Institution of Chartered Surveyors): Global professional body for real estate and land surveyors with significant German presence through RICS Germany. RICS is a broader incumbent operating across many countries and disciplines, while ICG is Germany-only and governance-specific; RICS is already a network partner of ICG.
• EPRA (European Public Real Estate Association): European association representing listed real estate companies with strong focus on investor reporting, ESG, and corporate governance standards. EPRA is comparable as a real estate governance standards body but operates at a pan-European listed-company level versus ICG's Germany-only broader industry focus.

Direct peers

• DGNB Deutsche Gesellschaft für Nachhaltiges Bauen: German Sustainable Building Council, the leading sustainability certification system for buildings in Germany. DGNB is a direct peer because it co-developed the 'Social Positive' certification with ICG's SII initiative and competes for the same sustainability, ESG, and certification mindshare in German real estate.
• gif Gesellschaft für Immobilienwirtschaftliche Forschung: German society for real estate research and academic-industry knowledge transfer. gif is comparable to ICG as a sector-specific professional association producing publications and events, but with a stronger academic and research orientation versus ICG's governance and compliance focus.
• ZIA Zentraler Immobilien Ausschuss: Germany's central real estate industry federation, originally co-founded with ICG involvement in 2006. ZIA is the most direct peer because it represents the same German real estate industry constituency on policy, standards, and industry positioning — overlapping with ICG's membership base and CSR/Diversity Code initiatives.
• Bundesstiftung Baukultur: Federal Building Culture Foundation in Germany, co-developer of the Kodex für Baukultur with ICG. Directly comparable as a federally anchored organization setting standards and codes for the German real estate and construction sector.

Others

• IDW (Institut der Wirtschaftsprüfer): German Institute of Public Auditors whose PS 980 auditing standard ICG's certification system is aligned to. IDW is an enabling/standards body — not a direct competitor — but is materially relevant because ICG's compliance certification is built explicitly on the IDW PS 980 framework.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCdvBKTuAnR4uFtNglZJpivA/videos
• LinkedInlinkedin.com/company/icg-institut-fuer-corporate-governance-in-der-deutschen-immobilienwirtschaft

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICG Institut für Corporate Governance