On 1 May 2026, the Business and Human Rights Centre (BHRC) invited Deutsche Bank to respond to concerns that a company it is investing in, Palantir, is linked to various allegations of facilitating "serious human rights violations". Reportedly, Palantir is accused of facilitating these violations through its contracts with the U.S. Immigration and Customs Enforcement agency (ICE) and the Israeli army in the Palestinian territories, among other concerns, with Amnesty International accusing the company of "failing to comply with international standards". Palantir has responded to similar allegations, which can be found on its BHRC company page.

As stated in the United Nations Guiding Principles on Business & Human Rights (UNGPs), investors have a responsibility to use their leverage to ensure that those with whom they have business relationships, including portfolio companies, respect human rights. Within the article by El Pais, Deutche Bank is listed as having $2 billion invested in Palantir as of December 2025. Deutsche Bank replied, stating:

"As a general matter, we cannot comment on any existing or potential client relationships..., Deutsche Bank primarily does not act as an investor. Activities in the field of investments and asset management are carried out by DWS, which is a separate listed company... Deutsche Bank usually does not hold companies’ stocks and, as a consequence, is not able to vote at general assemblies...Therefore, please distinguish between information relating to Deutsche Bank and DWS should you intend to reference both companies in your report."

DWS was not named in the original article and therefore was not contacted by the BHRC. Recent information regarding the relationship between Deutche Bank and DWS can be found here. From a UNGPs perspective, banks continue to have a responsibility to identify, assess, and address adverse human rights impacts linked to business relationships, including those linked to their asset managers. Voting rights are only one dimension of institutional relationships.