Deutsche Bank Closes Down Climate Department
For the last 5 years, Deutsche Bank has published an annual climate report, discussing investment opportunities in the field of climate change. The latest report, titled “Investing in Climate Change 2012″ was published in May 2012 and is available on the website of Deutsche Bank Climate Change Advisors. If you want, you can inform yourself on 104 pages about how you can make money with climate change.
But now the end has come for the seven-member team of the climate change analyst department in New York. On 30 September, Deutsche Bank shut down their climate department. Is Deutsche Bank chairman Anshu Jain having doubts in light of the global warming standstill now in its 14th year? On 28 September, Financial Times Germany reported the closure of DB’s climate change department:
“The New York-based department was supposed to stand for progress and perhaps also to show Deutsche Bank’s nicer side: Earning money via the mega-issue of climate change while helping to stop global warming. But under the leadership of its new bosses Anshu Jain and Jürgen Fitschen, there is no more room for this image enhancement department. After all, what good is all this progressiveness when it isn’t reflected in profits on the balance sheets? [...]
Has Deutsche Bank said goodbye now to climate investments? Not really. The subsidiary DWS still manages around 5.3 billion Euros in existing funds. Some customers can still be enticed with the ‘Climate’ label …..”
for more background information about Deutsche Bank’s climate shenanigans see also: