logo
episode-header-image
Jun 2022
28m 14s

Blowing the whistle on ESG

Financial Times
About this episode

Last week authorities raided the offices of Germany’s top asset manager DWS Group and its majority owner Deutsche Bank. The raid was spurred by allegations of greenwashing. That is, that DWS had made misleading claims about how sustainable or “green” some of its financial products were. DWS says it denies those allegations and has cooperated with regulators and authorities, but this move has prompted a larger reckoning throughout the financial industry.   


At the centre of much of this is former DWS sustainability officer Desiree Fixler. In this week’s episode we hear from the whistleblower herself, and explore her allegations about her time at DWS. The FT’s Patrick Temple-West also explains what this moment means for the future of environmental, social and governance or ESG investing.   


For further reading:

German police raid DWS and Deutsche Bank over greenwashing allegations

DWS chief resigns after police raid over greenwashing claims

Deutsche banker takes over asset manager in the eye of an ESG storm

Aggregate ESG confusion


On Twitter, follow Patrick Temple-West (@Temple_West)


Read a transcript of this episode on FT.com


Hosted on Acast. See acast.com/privacy for more information.

Up next
Oct 14
Why the French Revolution was a financial revolution - Part 1
The French Revolution was a bloody fight for liberty, equality and fraternity. But it was also a battle over money.In part 1 of our series on the French Revolution, host Robin Wigglesworth explores the revolution’s economic origins with Rebecca Spang, historian and author of Stuf ... Show More
48m 30s
Oct 7
How the US financed World War I using Charlie Chaplin and Girl Scouts
The first world war was one of the deadliest conflicts the world has ever seen. And when the US entered the war in 1917, it faced a massive financial challenge: how to pay for its contribution? Enter Treasury Secretary William McAdoo who launches the groundbreaking Liberty Loan P ... Show More
40m 33s
Sep 30
The bloody birth of the bond market
The US Treasury market - the world's largest government bond market - is worth about $32tn today, making it the largest pile of debt accumulated in history. But its roots lie in medieval Venice, a bloody military disaster and a leader who was forced to raise a loan to fund a war ... Show More
43m 18s
Recommended Episodes
Aug 2023
Financial News - What Is Driving the Anti-ESG Backlash?
Financial News’s ESG and careers correspondent Kristen McGachey talks with Desiree Fixler, former head of sustainability at DWS, and Tariq Fancy, founder of The Rumie Initiative and ex-BlackRock exec, about the anti-ESG backlash in the US and whether this could happen in the UK a ... Show More
42m 58s
Jun 2022
Hungary’s Viktor Orbán and his ‘superbank’
<p>The head of EY’s US business quit the Big Four accounting firm after a power struggle with its global boss, and German police raided DWS and Deutsche Bank offices over allegations DWS misrepresented green investments. Plus, Hungary’s autocratic prime minister is trying to buil ... Show More
9m 27s
Feb 2025
Here's Why ESG Isn't Dead Yet
Environmental, social and governance rules have come under additional pressure since the election of Donald Trump as US President. American businesses have also called for the European Union to roll back its ESG regulations, and France and Germany have indicated they want changes ... Show More
7m 40s
Mar 2022
Is sustainable finance just greenwash?
ESG funds - which claim to promote environmental, social and corporate governance best practice - are all the rage. But are investors being taken for an expensive ride?Ed Butler speaks to one man with his doubts - Tariq Fancy, who used to be in charge of sustainability investing ... Show More
17m 27s
Dec 2022
Wirecard on trial
<p>US regulators settled a record breaking case against the maker of video game Fortnite, a former Wirecard executive told a Munich court that the collapsed German payments company was a “sloppily done fraud”, and a boom in mainland Chinese family offices setting up in Singapore ... Show More
9m 9s
Mar 2023
Credit Sus
Nicole breaks down the biggest headlines (so far) this week on Wall Street, including: the latest on the banking crisis, UBS' ginormous acquisition of Credit Suisse (aka Credit Sus) and all things interest rates. Learn more about your ad choices. Visit megaphone.fm/adchoices 
10m 10s