Fossil Fuel Investments of German Asset Managers

Many financial institutions, including the four largest German asset managers examined in this study, have taken up the climate challenge – at least on paper. At the same time, many financial institutions have not implemented their investment policies in line with their promises.  The largest asset managers in Germany, DWS from Deutsche Bank, Allianz Global Investors (AGI) from Allianz, Union Investment from the cooperative financial group and Deka from the savings banks, which together manage more than 2 trillion euros, have also committed to the 1.5° target of the Paris Climate Agreement and have joined climate protection initiatives in which they are to work together on the implementation of Paris-compatible decarbonization strategies for financial portfolios. To examnine in how far these commitments are implemented in their portfolios, Profundo provided Greenpeace Germany with a dataset of fossil fuel investments by the four top German asset managers.