Finance Media Monitor | 9.26.23



Deutsche Bank’s investment arm, DWS, reached a $19 million settlement with the SEC to resolve allegations that it overstated its use of ESG factors in its funds. DWS did not admit or deny the charges, but accepted two cease-and-desist orders related to ESG misuse and failure to comply with anti-money-laundering rules. The settlement follows claims from whistleblower Desiree Fixler that DWS often presented an overly positive sustainability image to investors. As one of the first cases that questions ESG claims by money managers, the outcome highlights the increasing scrutiny coming for greenwashing—and it looks like most firms aren’t prepared to deal with more stringent regulations.





  • Genevieve Roch-Decter shared a graphic: Good Morning Everyone! What’s the BIG SHORT right now? ESG Stocks. Hedge funds are calling out fake green claims and overblown valuations boosted by stimulus. Blackrock & State Street are shutting down some ESG funds. 2023’s ESG fund closures? Already surpassed the last 3 years combined! Larry Fink even says he’s “ashamed” of the ESG political drama. Is this the end for ESG?
  • Eric Balchunas shared an article: Hedge fund managers are now shorting ESG stocks, looking to exploit bogus claims and bloated prices. One of them claims exposing these bad bets is actually good for the environment