Deutsche Bank's DWS Asset Manager Accepts $27 Million Fine by German Prosecutors for Greenwashing

MT Newswires Live04-02

Deutsche Bank's (DB) DWS asset manager said Wednesday that it accepts the fine imposed by the Frankfurt Public Prosecutor's office after a probe found "deficits" related to the company's past environmental, social, and governance statements.

According to media reports, German prosecutors fined DWS 25 million euros ($27 million) for "greenwashing" or issuing misleading statements over its green credentials over the period of 2020 to 2023.

DWS said it has cooperated throughout the German authorities' investigation, and it has already improved internal documentation and control processes. The company does not expect the fine to impact its Q1 results.

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