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Deutsche Bank unit ESG fine less about greenwashing, more about disclosures
By 
Aaron Nicodemus2023-10-03T16:58:00
The $19 million fine against Deutsche Bank’s asset management arm levied by the Securities and Exchange Commission (SEC) last month wasn’t to punish greenwashing, experts argue.
Instead, the order was a straightforward penalty imposed for not doing what the firm claimed related to its environmental, social, and governance (ESG) investment strategy.
On Sept. 25, the SEC announced its enforcement action against registered investment adviser DWS Investment Management Americas for the firm’s alleged marketing of itself to clients and investors as a leader in ESG without properly implementing policies and procedures that ensured such statements were not misleading.
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