German Asset Manager and Fossil Fuel Expansion (Greenpeace)

18 October 2022

This report, co-published by Reclaim Finance, Urgewald and Greenpeace, takes stock of the climate practices of four major German asset managers, Allianz GI, Union Investment, Deka Investments and DWS, together managing more than €2.3 trillion of assets. 

Exclusive data shows these asset managers are unrestrictedly investing in the companies with the biggest coal, oil and gas expansion plans. Collectively, they hold nearly US$ 13 billion in the world’s worst polluters (as of September 2022) and don’t have the proper policies in place to stop or even limit that support.

The report also addresses the Big Four’s voting behavior at annual general meetings of oil and gas majors and their fake claims about engaging with fossil fuel companies.