DB - Deutsche Bank & DWS raided over greenwashing accusations

Germany’s largest financial lender Deutsche Bank (NYSE:DB) and its asset management division had their Frankfurt offices raided by authorities on Tuesday morning after allegations that the firm was involved in greenwashing. The claim adds to a longer list of issues that DWS has faced in the past, as Desiree Fixler, former Chief Sustainability Officer, went public with greenwashing accusations last year. Fixler announced that hundreds of billions of assets under the hood of the firm were claimed to be “ESG integrated,” but were misleading due to the fact that the ESG label didn’t render into meaningful action by relevant fund managers. Bloomberg reported that the Frankfurt prosecutor mentioned it began its enquiry in the beginning of the year, after reports on Fixler’s claims. It since discovered adequate signals that “contrary to the statements in the sales prospectuses of DWS funds, ESG factors actually only played a role in a minority

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Deutsche Bank & DWS raided over greenwashing accusations