You've probably seen the news that SEC & USDA in Brooklyn have launched an investigation against DWS (Deutsche Bank's AM business) for misleading ESG credentials.
On the face of it, it's mostly funny (bit like an ESG^2 story 4 the worst ESG bank of the 2010s) but it's much more.
On the face of it, it's mostly funny (bit like an ESG^2 story 4 the worst ESG bank of the 2010s) but it's much more.
Why? Because ESG is an unclear, fuzzy, poorly defined field. There are no clear criteria, guidelines, etc.
Anything and everything can be labelled ESG (see my earlier thread.) That's also why it's expanding so much; cheap way of virtue signaling.
BUT (& that's a big change)...
Anything and everything can be labelled ESG (see my earlier thread.) That's also why it's expanding so much; cheap way of virtue signaling.
BUT (& that's a big change)...
If authorities start prosecuting fake ESG, the whole thing could collapse, precisely because it's fuzzy! If ur not sure what you're doing is OK, but there's only upside, go for it. If you're not sure, but the downside is a criminal investigation, no big institution will do it!
So this case is very important to monitor.
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