Deutsche Bank’s asset-management unit is using a detailed map to determine where natural disasters spawned by climate change may pose the greatest risks to its investment portfolios.
Bloomberg News reports that Deutsche Asset Management is using data from Four Twenty Seven, a California climate advisory firm that mapped the locations of more than 1 million corporate, manufacturing and retail sites globally to gauge companies’ exposure to hazards such as hurricanes, heat waves, floods, droughts and wildfires.
In the meantime, Reuters reports that a German appeals court said on Wednesday it had not seen evidence to suggest Deutsche Bank acted illegally in concert with another party during the bank’s takeover of Postbank, as alleged by a former Postbank shareholder.
A final ruling is set for Dec. 13.
Former Postbank shareholder Effecten-Spiegel alleged Deutsche Bank and Deutsche Post, Postbank’s two largest shareholders in 2008 when the takeover began, illegally acted in concert to the detriment of smaller shareholders.