DWS Accused of Overstating ESG Integration

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    Stockholm (NordSIP) – Having been fired only six months after joining DWS as the firm’s first Group Sustainability Officer, Desiree Fixler (pictured) talked to the Wall Street Journal (WSJ) accusing her ex-employer of having misstated its ESG integration.

    According to Fixler, an internal assessment of DWS Groups’ ESG capabilities found that “only a small fraction of the investment platform applies ESG integration,” the Journal quotes. Meanwhile, the asset manager’s annual report published one month later stated that over half of its assets had run through an ESG integration process.

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    For Fixler, who voiced her concern to senior management, her whistleblowing is what caused her firing in March this year. “As chief sustainability officer, as a proponent of ESG, how could I not speak up on wrongdoing,” she told the WSJ in a written statement.

    Following her dismissal, Fixler filed an unfair dismissal case against her ex-employer in a German labour court. However, an investigation by a third-party firm found no substance to her allegations, DWS responded to the WSJ.

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    Aline Reichenberg Gustafsson, CFA
    Aline Reichenberg Gustafsson, CFA
    Aline Reichenberg Gustafsson, CFA is Editor-in-Chief for NordSIP and Managing Director for Big Green Tree Media. She has 18 years of experience in the asset management industry in Stockholm, London and Geneva, including as a long/short equity hedge fund portfolio manager, and buy-side analyst, but also as CFO and COO in several asset management firms. Aline holds an MBA from Harvard Business School and a License in Economic Sciences from the University of Geneva.
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