Executive resigns after police raid on Deutsche Bank

Deutsche Bank greenwashing

aggressive of German justice against Deutsche Bank, resulting in 3. carried out a police operation at its headquarters in Frankfurt To be fair (31/5), should cause new headaches for the financial giant. Ashok Vohrman, chief executive of DWS, asset manager of the organization, resigned following the police action. He is expected to be replaced by Deutsche Bank’s current head of corporate sector Stefan Hoops.

The German bank is investigated in Europe and the United States on charges of omitting and distorting important information to its investors and shareholders regarding the ESG terms of its business and financial investments. Last year, former DWS sustainability director Desiree Fixler accused Deutsche Bank of disclosing misleading information in its annual report.

“The controversy reflects the chaos that occurs when politics, business and fund management collide in a disputed area of ​​ESG investment,” the statement said. financial Times, “For regulators and the hundreds of rating agencies that look at ESG, the issue is one of standardization.” As the newspaper highlights, the world of sustainable finance can no longer live with the ambiguity that has so far marked this agenda: with investors, shareholders and public authorities becoming more interested in the topic, Companies have to “roll over” to be able to prove that green promises aren’t simple. green washing,

climate house, financial Times And EarthAmong others, the news resonated.

Climainfo, 2 June 2022.

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About the author: Sarah Gracie

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