The former DWS employee who claims the German asset manager overstated its credentials on environmental, social and governance investing has warned others to “dial down the propaganda and rhetoric” or face potential mis-selling claims from investors.

Desiree Fixler, the asset manager’s former head of sustainability, alleged the firm misrepresented its ESG capabilities in its 2020 annual report. Her action triggered investigations by the US Securities and Exchange Commission and German regulator BaFin.