Why we’re issuing a Climate Statement
Deutsche Bank has been very active on climate-related issues over the last 12 months – the change being implemented across all businesses.
Deutsche Bank was early to recognise the fight against climate change as a major challenge of our time.
Our own business operations have been climate neutral since 2012 – making us one of the first financial service providers to embark on this path. But this was not the end. As a signatory to the Paris Pledge for Action in 2016, the bank made an explicit commitment to contribute to achieving the targets of the Paris Climate Agreement. Sustainability has also been at the heart of our business strategy since July 2019.
Even though we have focused on this issue for years, we have made significant progress over the last 12 months. We have set ourselves specific targets for sustainable business and formulated bank-wide criteria for what we define as sustainable. As a signatory to the German financial sector’s commitment on climate action we have pledged to structure our lending portfolios in line with the targets of the Paris Agreement on Climate Change. At the same time we have tightened our policy governing business activities in the fossil fuels sector.
This Climate Statement outlines how our bank contributes to sustainable and climate-friendly economic activity. It covers the entire spectrum from sustainable finance and managing climate risk and our own carbon footprint right through to how we encourage our employees to identify with our drive towards greater sustainability.
The renowned climate expert Stefan Rahmstorf provides an introduction to the topic. In an interview our CEO Christian Sewing explains the role that climate protection plays in our business model. In addition, senior managers from the bank describe how our commitment to sustainability is changing their day to day jobs.
Our Group Sustainability team has supported and coordinated this transformation for many years and together with the Sustainability Council chaired by Christian Sewing, it is laying the groundwork for the bank-wide transformation to pick up pace. Our aim with this statement is to communicate this irreversible shift towards climate protection and sustainability which we are experiencing within our bank and observing among our clients and those around us. We hope you will find it informative and interesting.
Viktoriya Brand Head of Group Sustainability
Head of Group Sustainability