What can be considered a sustainable financial product is too often in the eye of the beholder.
The criteria are by no means neutral, but rather subjective.
This is shown by the dispute between Germany and France as to whether nuclear power serves as a transition technology to achieve a low-carbon economy and whether the financing of nuclear power plants can be classified as sustainable.
Deutsche Bank's fund company, DWS, has now fallen into the trap of vague criteria.
She is accused by a former employee of overstating sustainable investments.
The revenge campaign of the former heads of the sustainability department, who had to leave after the probationary period, was very expensive for DWS shareholders, especially the parent company, with a price loss in the double-digit percentage range.
Embarrassing for the DWS: American authorities and also the German financial regulator BaFin have to investigate the allegations.
To withdraw from the fact that the standards for sustainability are not yet fully developed and have yet to be developed is not convincing.
Because DWS and Deutsche Bank are so rampant with the topic of sustainability that no customer can escape.
But now it is admitted: What belongs to it and what doesn’t have to be shown.
The fraudulent labeling consists in feigning knowledge that does not actually exist.