Deutsche Bank subsidiary head says “tsunami” of sustainable investment activity ahead
Reuters
The investment fund subsidiary of Germany’s Deutsche Bank, DWS, wants to increase the share of sustainable investments, with a greater focus on the so-called ESG criteria for asset selection, which account for risks associated with the environment, society and corporate governance, news agency Reuters reports. “I think our investment procedures are going to change dramatically,” DWS head Asoka Wöhrmann said. He said ESG as an investment principle would “roll towards asset managers like a tsunami. Those who are not prepared will miss the trend”.
The finance sector as a lever for change in climate policy has increasingly come into the focus of policymakers, with Chancellor Angela Merkel and environment minister Svenja Schulze both calling for greater consideration of climate risks in the sector in recent weeks. However, sustainable finance researcher Christian Klein told Clean Energy Wire in an interview that despite all progressive rhetoric, financial markets currently still seem to bet that international climate agreements will not be honoured.
