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German officials raid Deutsche Bank's DWS over 'greenwashing' claims

DWS has faced regulatory probes in the US and Germany after its former chief sustainability officer, Desiree Fixler, alleged last year that the company inflated its ESG credentials

Photo: Bloomberg
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Photo: Bloomberg

Reuters Berlin
German prosecutors raided asset manager DWS and the headquarters of its majority owner Deutsche Bank on Tuesday over allegations of misleading investors about "green" investments, the prosecutors said.
 
DWS and Deutsche Bank said the asset manager had cooperated with regulators and authorities in the past and would continue to do so. DWS repeated its denial that it had misled investors.
 
The prosecutors said they were following up on news reports and a whistleblower's allegations that DWS sold investments as "greener" or "more sustainable" than they were, a practice known as "greenwashing".
 
The German prosecutors said "sufficient factual evidence has emerged"

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First Published: May 31 2022 | 11:14 PM IST

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