{"id":455921,"date":"2022-05-31T18:56:19","date_gmt":"2022-05-31T15:56:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/deutsche-bank-dws-unit-raided-over-greenwashing-claims\/"},"modified":"2022-05-31T18:56:19","modified_gmt":"2022-05-31T15:56:19","slug":"deutsche-bank-dws-unit-raided-over-greenwashing-claims","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/deutsche-bank-dws-unit-raided-over-greenwashing-claims\/","title":{"rendered":"#Deutsche Bank, DWS unit raided over &#8216;greenwashing&#8217; claims"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a20f85195ecb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a20f85195ecb\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/deutsche-bank-dws-unit-raided-over-greenwashing-claims\/#%E2%80%9CDeutsche_Bank_DWS_unit_raided_over_%E2%80%98greenwashing_claims%E2%80%9D\" >&#8220;Deutsche Bank, DWS unit raided over &#8216;greenwashing&#8217; claims&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CDeutsche_Bank_DWS_unit_raided_over_%E2%80%98greenwashing_claims%E2%80%9D\"><\/span>&#8220;Deutsche Bank, DWS unit raided over &#8216;greenwashing&#8217; claims&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>German prosecutors raided\u00a0asset manager DWS\u00a0and the headquarters of its majority owner\u00a0Deutsche\u00a0Bank\u00a0on Tuesday over allegations\u00a0of misleading\u00a0investors about\u00a0\u201cgreen\u201d\u00a0investments, the prosecutors said.<\/p>\n<p>DWS and\u00a0Deutsche\u00a0Bank said the asset manager had cooperated with regulators and authorities in the past and would continue to do so. DWS has\u00a0repeatedly\u00a0denied allegations it misled investors.<\/p>\n<p>The prosecutors said they were following up on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> reports and a whistleblower\u2019s allegations that DWS sold investments as \u201cgreener\u201d or \u201cmore sustainable\u201d than they were, a practice known as \u201cgreenwashing.\u201d<\/p>\n<p>The German prosecutors said \u201csufficient factual evidence has emerged\u201d that environmental, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> and governance (ESG) factors were taken into account in a minority of investments \u201cbut were not taken into account at all in a large number of investments,\u201d contrary to statements in DWS fund sales prospectuses.<\/p>\n<p>The Securities and Exchange Commission and German financial watchdog BaFin last year launched separate investigations into allegations made by DWS\u2019 former head of sustainability that the company was overstating how it used sustainable investing criteria to manage investments.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-54.jpg?w=1024\" alt=\"DWS logo\" class=\"wp-image-22471425\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-54.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-54.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-54.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The prosecutors said they were following up on news reports and allegations that DWS sold investments as \u201cgreener\u201d or \u201cmore sustainable\u201d than they were.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>The German prosecutors\u2019 statement was the first time that they have said publicly they were involved in the investigation.<\/p>\n<p>Regulators and policymakers have pledged to clamp down on companies making exaggerated claims about the sustainability credentials of their products as they try to cash in on booming demand for ESG investing.<\/p>\n<p>Enforcement action has been minimal so far, although watchdogs are beginning to tighten the screws. Last week, the SEC said BNY Mellon Investment Adviser had paid $1.5 million to resolve charges it misstated ESG investment policies for some mutual funds it managed.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-53.jpg?w=1024\" alt=\"Deutsche Bank logo\" class=\"wp-image-22471424\" width=\"618\" height=\"411\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-53.jpg?quality=75&amp;strip=all&amp;w=1233 1236w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-53.jpg?quality=75&amp;strip=all&amp;w=925 927w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-53.jpg?quality=75&amp;strip=all&amp;w=618 618w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-53.jpg?quality=75&amp;strip=all&amp;w=308 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-53.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\"\/><figcaption>DWS, majority owned by Deutsche Bank, has repeatedly denied allegations it misled investors.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>The SEC has proposed a pair of rule changes aimed at stamping out unfounded ESG fund claims, while the European Union\u2019s markets watchdog is working on a legal definition of \u201cgreenwashing\u201d to underpin enforcement action.\u00a0<\/p>\n<aside class=\"single__inline-module alignleft\">\n    <\/aside>\n<p>Fund managers have rapidly amassed billions of dollars of assets that are meant to have an environmental or social profile,\u00a0prompting more scrutiny over how firms define and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ly ESG standards.<\/p>\n<p>Monitoring of ESG claims extends across the financial industry. The Financial Times reported last month that HSBC was facing scrutiny from the UK advertising watchdog over ads promoting green initiatives.\u00a0<\/p>\n<p>There were about 50 people involved in Tuesday\u2019s raid on DWS, including officials from BaFin and federal police, prosecutors said.<\/p>\n<p>The bar for successfully prosecuting corporate wrongdoing is high in Germany, although prosecutors regularly open inquiries.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/31\/deutsche-bank-dws-unit-raided-over-greenwashing-claims\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Deutsche Bank, DWS unit raided over &#8216;greenwashing&#8217; claims&#8221; German prosecutors raided\u00a0asset manager DWS\u00a0and the headquarters of its majority owner\u00a0Deutsche\u00a0Bank\u00a0on Tuesday over allegations\u00a0of misleading\u00a0investors about\u00a0\u201cgreen\u201d\u00a0investments, the prosecutors said. DWS and\u00a0Deutsche\u00a0Bank said the asset manager had cooperated with regulators and authorities in the past and would continue to do so. DWS has\u00a0repeatedly\u00a0denied allegations it misled investors. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":455922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Deutsche-Bank-55.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129772,71939,71878,10595,43905,83370],"class_list":["post-455921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-31-22","tag-banks","tag-deutsche-bank","tag-environment","tag-germany","tag-raids"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=455921"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/455922"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=455921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=455921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=455921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}