Looks like DB might not be backing up its words with actions.
👉 Background: Deutsche Bank is a German multinational investment bank founded more than 150 years ago. The bank has four major divisions: investment bank, corporate bank, private bank and asset management.
👉 What happened: This crew aren't strangers to a scandal. We're talkin' criminal cartel charges, money laundering... and being widely recognised as Donald Trump's largest lender.
👉 What else: Now DB's in trouble again over allegations the company's asset management division has been greenwashing its products. This latest controversy highlights the growing scrutiny of money managers and their sustainability claims.
💡Greenwashing is where companies mislead customers about the environmentally-friendliness of their products and services.
💡In Deutsche Bank's case, it claimed that hundreds of billions worth of assets under management were 'ESG integrated'. But the problem was, it's alleged that no actual action was taken by fund managers to implement that.
💡In other words, greenwashing happens when companies talk the talk, but they don't walk the walk. As more investors seek greener investments, greenwashing is becoming a growing problem 🤢.
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