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Xtrackers MSCI USA ESG Leaders Eq ETF USSG

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DWS Raided Over Greenwashing Claims; CEO Resigns

Associate Analyst

Analyst Note

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The offices of DWS and its majority owner Deutsche Bank were searched by German public prosecutors, federal police, and the financial regulator BaFin on May 31, 2022 as part of an investigation into allegations of greenwashing. (Greenwashing is the practice of overstating a firm’s or fund’s practices around ESG investing.) The investigation was triggered by accusations initially raised in August 2021 by the firm’s former chief sustainability officer, Desiree Fixler, who left DWS after a fairly short period of time following a dispute over the true level of environmental, social, and governance integration across the firm.

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