Thread by @bbaue

"‘Transformational investment’ requires a ‘transformational framework’” writes Francesco Curto of @DWS_Group

ipe.com/home/guest-vie…

"A transformational investment will not succeed without changes in how we operate. To achieve such frameworks, three objectives must be met:..."

@DWS_Group #3 "Resolve the conflict of interest along the value chain [that] are detrimental to consumers, who face uncertain definitions, higher costs and lack protection as financial products make ESG claims that cannot be verified."

@DWS_Group "Then came a formal complaint by Bill Baue … to the board of the Science Based Targets initiative (SBTi) about potential conflict of interests. The complaint centred around the proposed methodologies used to guide companies and investors towards net zero…"

@DWS_Group “...which, according to Baue, are not driven by science.”

[This isn’t exactly what I said in my Complaint and Memorandum, but I understand how it’s interpreted as such. Judge for yourself:

bbaue.medium.com/formal-complai…

bbaue.medium.com/memorandum-on-… ]

@DWS_Group "This is relevant as SBTi is amongst the most independent frameworks available when it comes to assessing companies’ plans on their path to net zero.”

This is indeed relevant, and I appreciate Francesco for identifying this issue so clearly, using the SBTi case as an example.

@DWS_Group Francesco ends: "As we must address this climate crisis with urgency, we require a common way to measure progress using a commonly defined standard controlled by properly accountable institutions ... this will then have a chance of eliminating pervading conflicts of interest.”