She was fired in March 2021, a day before the firm published its full-year results. Deutsche Bank's asset management unit is starting a fresh review into greenwashing claims by a whistleblower, as regulatory probes in the U.S. and Germany continue. Deutsche Bank's DWS Rejects Allegations It Overstated ESG Assets (Bloomberg) — Deutsche Bank (DE: DBKGn) AG's asset manager DWS Group hit back at claims that it overstated the amount of assets that comply with sustainability criteria after the news of probes by U.S. and German authorities into the allegations sent the shares plunging. Deutsche Bank's asset management unit is starting a new review of whistleblower green laundering allegations, as regulatory investigations in the United States and Germany continue. Environmental activists from the grassroots divestment group Fossil Free . There may well be a distinct logic among the reasoning by FX dealers and derivatives entities to go down the green route. Gary Gensler, who took over the agency in April, has said his staff . 3 septiembre, 2021 02:19 guardar Banca Text. the asset management arm of Deutsche Bank. Christian Sewing, CEO of Deutsche Bank, DWS' biggest shareholder, told analysts on Friday the discussions about alleged greenwashing were mere "noises". Deutsche Bank groups them into two categories: use of proceeds products and KPI-linked products. It is about the suspicion that the subsidiary of Deutsche Bank has been fraudulent in labeling "green" investments. DISCLOSURES AND ANALYST ARE LOCATED IN APPENDIX 1. DWS would have overestimated the weight of its outstanding integrating ESG criteria (environmental, social and governance). The boss of Deutsche Bank's asset-management arm, DWS Group, had hitched his firm's wagon to the surge in investor demand for all . November 24, 2020 12:17 pm UTC, Andrew Saks-McLeod, Head of Research and Analysis, ETX Capital. For fund managers everywhere — greedily eyeing an ESG market that's expected to surpass $50 trillion of assets under management by 2025 — this is the first real test of how aggressively regulators will crack down on any "greenwashing" accusations against their industry. The subsidiary of Deutsche Bank, the second listed asset manager in Europe after Amundi, is targeted by investigations in United States, after a denunciation by its former head of sustainable development. Parallel to the rise of sustainable investing, the risk is growing greenwashing: financial institutions that pretend to invest customer money responsibly, when in reality they care little about, for example, . Greenwashing risk was the biggest concern cited by sustainability-linked bond investors (56%), compared with other issues such as the . Now threatens new trouble with the US judiciary. Deutsche Bank AG has to do a better job of explaining its role to society to profit from the boom in sustainable investing, Chief Executive Officer Christian Sewing said, in some of his first public comments since allegations of greenwashing against the firm's money management unit were revealed. European financial regulators say they are uncovering more cases of greenwashing by asset managers cashing in on booming demand for sustainable finance, and some are starting to turn the screw on . May 2021. For a company, this could be doing something like claiming to have . Greenwashing at Deutsche Bank: Natural Rubber Plantations in Cameroon. Deutsche Bank recently structured what it billed as the first green repo financing in Europe (BNP Paribas had done a similar trade in Asia), in a deal that involves transferring securities to M&G Investments and receiving cash to fund Deutsche's green asset pool, including renewable energy projects. It is about greenwashing allegations against the fund subsidiary DWS. The €859bn asset manager has been in the headlines after reports allege that German regulator BaFin and US Securities and Exchange . According to media reports, the US Department of Justice has informed Deutsche Bank that . Are banks really going green, or just greenwashing? Deutsche Bank analyst Christopher Barnes initiated coverage of Local Bounti Corp (NYSE:LOCL) with a Buy rating and $9 price target, implying a 25.6% upside. Some of the world's largest banks have made hundreds of billions of dollars in commitments to sustainable financing, with many pledging to align their portfolios with the goals of the Paris Agreement. Deutsche Bank's ESG executive slams industry's greenwashing practices. More greenwash as major FX dealers foist ethical derivatives onto counterparties. DWS Group has hired U.S. law firm Sullivan & Cromwell to perform a new assessment of the allegations . Deutsche Bank Chief Executive Officer Christian Sewing has made clear he wants the firm to take a lead in the $35 trillion ESG market, as a key path to achieving revenue growth. It is about greenwashing allegations against the fund subsidiary DWS. As long as Deutsche Bank sells loans like the one to Corrie MacColl as allegedly sustainable, the bank's sustainability announcements are pure greenwash. Deutsche Bank Contacted by Regulator Over Von Rohr's Role at DWS. DWS, the listed asset manager majority owned by Deutsche Bank, has found itself at the centre of an ESG probe after its former head of sustainability, Desiree Fixler, claimed it overstated how much it used sustainable investing criteria to manage its assets. Reports of investigations by the U.S. Securities and Exchange Commission and German regulator Bafin into Deutsche Bank's funds arm DWS have alarmed those involved in sustainable finance in Switzerland. GREENWASHING FEARS. For KPI-linked products, such as ESG linked . (Toronto / London October 7, 2021) Just weeks before the UK hosts the COP26 climate summit, over 90 groups including Stand.earth, Indigenous Climate Action, 350.org, Sierra Club, Positive Money, and Greenpeace Canada have written to UN Special Envoy Mark Carney and placed ads in the Financial Times and Toronto Star . The fund provider, which is 80 percent owned by Deutsche Bank, has hired the renowned US law firm Sullivan & Cromwell to . by Hannah Dewhirst. ForestEthics and Rainforest Action Network today released TD Greenwash: Bankrupting the Future, a corporate irresponsibility report uncovering the poor environmental and social performance of TD Bank Financial Group.TD has set no targets for reducing greenhouse gas emissions for their lending and investments or any investment goals for transitioning to a low-carbon economy. Deutsche Bank owned DWS has rejected claims that it misled clients by overstating its sustainable investing activities, after news emerged that US and German regulators were launching probes into the allegations. Story continues The bank has previously been told by the Federal Reserve that its compliance . overwhelmed by the 'greenwashing' effect. The analyst sees Local as a well-positioned controlled environment agriculture company "capable of disrupting the traditionally grown leafy greens value chain." Thursday October 07, 2021. Denver, Frankfurt The DWS is apparently starting a new examination of the greenwashing allegations that whistleblower Desiree Fixler had made public in August. Sustainable investing enters 2022 at a crossroads. The Swiss financial center is looking to become a sustainable-investment hub . DWS, the listed German asset manager majority-owned by Deutsche Bank, has defended itself against allegations made by a former employee over its approach to sustainable investing. The greenwashing claims are also . The reports, initially reported by the Wall Street Journal (), prompted a 13% fall in Deutche Bank's share price and has led to BaFin, the German regulator, to launch an investigation into the investment management arm of the bank amid the allegations of breaches of ESG requirements, reports the Financial Times.. WSJ reported US authorities were investigating DWS after a former head of . According to media reports, Deutsche Bank's first head of sustainability, Desiree Fixler, claimed the firm inflated its ESG assets. Deutsche Bank plans to finance at least €200 billion of sustainable investments by the end of 2023. Here is our analysis. Dr Rebecca Harding shares some reflections from her "fireside chat" with Deutsche Bank's Daniel Schmand about getting on with the job in sustainable finance and why recycling is set to become big . It's an interesting move that involves forming cooperative alliances with deal managers whose environmental processes align with the NIB's. At a time when the possible ramifications of greenwashing practices multiply rapidly . DWS orders re-investigation into greenwashing allegations. . But the Deutsche Bank-backed firm denied the reports on Friday in a statement and said: "We firmly reject the allegations being made by a former employee." . Deutsche Bank's Rising Star Has a Rapid Change of Fortune DWS greenwashing investigations have cast an unwelcome light on Asoka Woehrmann, and on Deutsche's asset-management ambitions . With banks' sustainability commitments under fire, are science-based targets the answer, asks Christopher Marchant. Status: 09.12.2021 09:34 a.m. Deutsche Bank may have violated the US settlement requirements. The Nordic Investment Bank is asking bookrunners "to take a little more responsibility" in the green bond market, in a bid to reduce greenwashing and help them buy notes in advance of doing due diligence. M anchmal ist ja das, was nicht gesagt wird, stärker als das ausgesprochene Wort. Climate activists called on Deutsche Bank on October 27 not to loan Whitehaven Coal more than $2 billion to expand its operations in northern New South Wales. At the start of 2021, Asoka Woehrmann was sitting pretty. To access this article please sign-in below or register for a free one-month trial. In the EU, deal-making was dominated by big banks from the Netherlands, France, Spain, Germany, and Italy. Fossil fuel debt fees 2021: JPMorgan $226m Citigroup $154.9m Royal Bank of Canada $128.3m Bank of America $113.5m Wells Fargo $93m Green debt fees 2021: BNP Paribas $159.6m JPMorgan $159.2m Credit Agricole $123.8m Citigroup $121m Deutsche Bank $105.9m Source: Bloomberg It reduces the risk of actual or perceived greenwashing. Some unexpected results show how a company's ESG goals, metrics, sentiment, However, the test should also go beyond Fixler's allegations, reported the Bloomberg news agency on Tuesday. Now threatens new trouble with the US judiciary. our bookrunner share of green or social bonds; El sector sigue captando dinero mientras los reguladores de EEUU y Alemania investigan los fondos sostenibles de la gestora de Deutsche Bank. 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