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Association of Ethical
Shareholders Germany
P.O.Box 30 03 07
D-50773 Köln
Germany

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Pellenzstr. 39
D-50823 Köln

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+49-221-599 56 47

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+49-221-599 10 24

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+49-173-713 52 37

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Position:   English  >>  Deutsche Bank

US Civil Society and Deutsche Bank

Deutsche Bank - can it be stopped investing in the coal industry?
The Galilee Baisn - frontier of the coal rush (map by Greenpeace Australia)
Markus Dufner of Ethical Shareholders Germany

Deutsche Bank AGM 2016: A lot to criticize
As in previous years the Association of Ethical Shareholders was present at the AGM of Deutsche Bank in 2016. And despite of the self-imposed cultural change of the Deutsche Bank, there is still a lot to criticize. Deutsche Bank is facing approximately 6,000 lawsuits relating to various scandals. The law problems of Deutsche Bank include manipulation of the LIBOR, fraud regarding value added tax, money laundering and violations against sanctions. More currently the Panama Papers showed that Deutsche Bank was also involved in the business of offshore companies. Moreover, Deutsche Bank is still a big player in the financing of coal mining. The report “The Coal Test”, analyzing the time from 2009 to 2014, concludes that Deutsche Bank is the 7th biggest financer of coal businesses. However, a small success regarding to Mountaintop Removal was achieved. Mountaintop Removal is the most brutal way of coal mining. In the mining process mountaintops are literally blown up and ecosystems are destroyed. After being a major provider of finance for companies using Mountaintop Removal, Deutsche Bank announced in March 2016 that they will stop funding firms, which are substantially involved in using Mountaintop Removal. Obviously these intentions can only be the starting point of a bigger process, since the proposal is vague and will only be implemented in a step-by-step procedure. Finally the directives for deals with the arms industry are completely insufficient. Only transactions referring to cluster bombs are prohibited. In the same time deals with the producers of atomic weapons are allowed. Moreover, there is no rule about exports of armed goods. Deutsche Bank has business relations to almost all leading defense businesses worldwide including the German firms Rheinmetall and Krauss Maffei Wegmann, which export arms and tanks to countries like Saudi Arabia, which is involved in the brutal but mostly ignored civil war in Yemen.


Deutsche Bank world´s fifth largest financer of coal mining
Ethical Shareholders Germany will present counterproposals 22 May during AGM in Frankfurt/Germany

Re. Agenda Item 3:
Ratification of the acts of management of the members of the Management Board for the 2013 financial year

Association of Ethical Shareholders Germany proposes that the acts of management of the members of the Management Board not be ratified.
Reasons: Deutsche Bank is the world’s fifth largest financer of coal mining. Having provided financial services amounting to more than five billion euros to coal mining companies between 2005 and 2013, Deutsche Bank is the undisputed number one among German banks. It has therefore contributed to the almost 70% increase in coal mining around the world since 2000. From a climate perspective, this is catastrophic, as all climate reports warn that burning coal needs to be stopped if the target of limiting global warming to 2°C is still to be achieved. However, Deutsche Bank describes coal and nuclear power as bridging technologies that we cannot do without. ...

Save the Great Barrier Reef!
Ethical Shareholders support Tony Brown from Queensland who will speak during Deutsche Bank´s AGM 22 May in Germany in order to stop the bank´s investement in Abbot Point.  

 

A Crisis in Trust - The Case of Deutsche Bank
With billions of euros in losses, the fallout from questionable deals, and a string of legal issues, co-CEOs Anshu Jain and Jürgen Fitschen of Deutsche Bank are putting out fires on multiple fronts. Markus Dufner, manager of the Association of Ethical Shareholders Germany: "There’s no sign yet of the ´change in culture´ that was announced by the new management.
> TV documentary "A Crisis in Trust - The Case of Deutsche Bank" by Deutsche Welle



Mountaintop Removal in the Appalachians criticized at
Deutsche Bank Annual General Meeting (AGM) May 23, 2013, in Frankfurt/Germany
Mountaintop removal in the United States of America was one of the issues Ethical Shareholders brought up at Deutsche Bank´s AGM. Invited by their member organization "urgewald" Appalachian environmental activist and photographer Paul Corbit Brown of "Keeper of the Mountains" criticized Deutsche Bank. In contrast to its pro climate statements, the bank continues to massively support the coal industry, which is one of the largest contributors to climate change, and finances companies that are involved in the most damaging extraction methods such as mountaintop removal.
> Mountaintop Removal


Speculating in agricultural commodities:
Deutsche Bank AGM May 31, 2012, in Frankfurt/Germany
Deutsche Bank contributes massively to climate damage and to the boom in speculating in munitions and agricultural commodities. In the process, it fails to abide by international conventions and its own maxims.
> Counterproposals


Foreclosures in Wisconsin/USA:
Deutsche Bank AGM 2011 in Frankfurt/Germany
> Press Release May 25, 2011


Foreclosures in Wisconsin/USA: Deutsche Bank AGM 2010 in Frankfurt/Germany
> Press Release June 1, 2010
> Speech of Mark Fraley, lead organizor of Common Ground, at the Deutsche Bank Annual General Meeting 2010
> Press Review
> Faces of Foreclosure

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