Undercover-Beratung: DWS täuscht Kund:innen bei grünen Geldanlagen! Teil 1

I find that really frightening. With what is advertised and what is really behind it. So put your trust in Germany's number one fund company when investing your money. I'll put it this way, I go to a restaurant, I want to eat vegan and they serve me fish. Why is it important to invest money in a climate-friendly way? We all know about the drama of the climate crisis and something fundamental has to change. And if the fundamentals are to change, then the money flows have to change.

Today's money flows will change tomorrow's economy. I had a consultation on financial investments at the Postbank in Cologne. At first I was asked how much money I would like to invest for how long and what is important to me. I then mentioned right at the beginning that climate compatibility is important to me. The advisor didn't go into detail about it. I said climate-friendly, he made it sustainable. In the course of the conversation, he did not mention climate-friendly again. Right from the start he gave the impression: It's a nice thing, but it's not really possible. At the end of the conversation I mentioned that I think it's nice when my money does something good in this world and I don't just make money with it. He replied that this was not a fundraiser, but an investment and that I could simply donate part of my money to any organization. I then asked again specifically whether there were specific themed funds that you could invest in.

Then he said that it already exists, for example a climate fund, but you don't know how long this hype will last. In his own way, he managed to give me the impression: It's important, but at the same time it's not possible and it's not that important after all. For example, he also mentioned that many sustainability criteria are now overshooting the mark a bit. We didn't get into it that specifically, he hadn't even done that yet, he just said: get in touch with me again and we'll get on with the next call.

Claudia's first consultation is of course an absolute no-go and it's relatively clear that the consultant simply didn't understand two fundamental things. On the one hand, the urgency of the climate crisis, which is repeatedly underlined and emphasized by all climate researchers. To dismiss sustainability as hype is science denial. The other thing he didn't understand is the economic context, namely that today's financial flows determine tomorrow's economic world. There is a lack of understanding for the climate crisis, but also for the functioning of our economy.

In this respect, this advice is completely unacceptable! It didn't stop with this first conversation, she had a second consultation. My second consultation at a Deutsche Bank branch here in Cologne was actually quite different. It took a lot longer (2.5 hours) and he also explained a lot more. It started similarly: I said how much money I want to invest and for how long. I also mentioned the climate compatibility. He also gave me several information sheets from Deutsche Bank and //DWS on the subject of sustainability and explained the criteria to me. But he also said from the start that he couldn't promise me anything because they were still learning and still making mistakes.

The consultant also addressed the DWS scandal and said that when it comes to sustainability, you always have to be careful with greenwashing or what you communicate to the world. Then he just said: Deutsche Bank made negative headlines in the summer. If you're so big and start something new with these sustainability things, but don't do everything perfectly, then you get really bad publicity very quickly. He played that down a bit. He didn't say specifically what happened. In this second conversation with Claudia, we again experienced a very representative consultation: On the one hand, the consultant openly admits that he doesn't know exactly which companies are in the products he sells.

On the other hand, the perception of //DWS is frightening! The consultant brought up the //DWS greenwashing scandal of his own accord, but sold it as a trivial offense or trifle. That really is a twist of the truth. We were able to determine how relevant this topic of fraud or consumer deception is at the beginning of this year in Frankfurt, when the public prosecutor's office together with the supervisory authorities opened up at the asset manager of Deutsche Bank (//DWS).

Investigations were launched into cases of greenwashing and investment fraud. Background of these investigations: The whistleblower scandal of the Deutsche Bank subsidiary //DWS. It was said from the highest level that products that were not previously sustainable should simply be labeled as sustainable, without anything fundamentally changing in the products. This discrepancy between what you propagate/show in advertising and what you actually do is unacceptable and greenwashing of the worst kind. We are really dealing with solid allegations of fraud here and that's really no small matter. To claim that sustainable financial investments are just in their infancy and that there are no convincing products yet is simply wrong! There have long been financial products that strive to be truly green financial investments and do it well. In summary: a completely unsatisfactory second consultation for Claudia. But we still have other consultations, such as Detlef's. I can't imagine not being listened to. I find it so unfair that big corporations, big banks make it so difficult for individual consumers. The result is in stark contrast to the quality of the conversation.

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