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October 7, 2021

DWS launches new investigation into allegations over ESG claims

By Verdict Staff

DWS Group, the asset management arm of Deutsche Bank, has reportedly launched a new internal probe in connection with allegations over its environmental, social, and governance (ESG) disclosures.

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The firm has hired US law firm Sullivan & Cromwell for the fresh investigation, Bloomberg reported citing people familiar with the matter.

The troubles for DWS started after its former sustainability head Desiree Fixler said that the company exaggerated its sustainable investing criteria to manage its assets.

It is currently being investigated by the Securities and Exchange Commission (SEC), the US Department of Justice and German watchdog BaFin.

According to a source, the asset manager appointed the law firm to represent it in its dealing with SEC.

The scope of the investigation goes beyond allegations raised by Fixler, the source revealed.

A DWS spokesperson refused to comment on the report.

Fixler alleged that DWS overstated its sustainability strategy and occasionally mislead the investors.

In August, the $1 trillion asset manager refuted the allegations and said that it stands by its annual report disclosures.

At the time, DWS said in a statement: “We firmly reject the allegations being made by a former employee. DWS will continue to remain a steadfast proponent of ESG investing as part of its fiduciary role on behalf of its clients.”

According to Bloomberg, Fixler was dismissed by the firm a month before it published an annual report with exaggerated ESG figures.

This week, DWS partnered with BlackFin to jointly develop the digital investment platform into a platform eco system that offers digital investment solutions and services to distribution partners, institutional investors, and retail customers.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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