Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainability
• Diversity

Environmental Achievements

• Reduced power consumption by 8,892,836 kWh in Germany since 1997
• Reduced water utilization by 265,298 cubic meters in Germany since 1997
• Decreased paper consumption by 889 tons in Germany since 1997
• ISO 14001 certification for operations in Germany

Social Achievements

• Launched microcredit programs globally, with a high repayment rate and significant impact on microenterprises and individuals
• Implemented Initiative Plus, a volunteer program engaging over 1,000 employees in community projects
• Supported educational initiatives in various countries, including South Africa and Germany
• Increased representation of female executives from 9.4% to 14%
• Supported various programs for physically challenged individuals

Governance Achievements

• Adopted Corporate Governance Principles, exceeding legal requirements
• Committed to combating money laundering, bribery, and corruption
• Established the National Anti-Doping Agency (NADA) in Germany

Climate Goals & Targets

Environmental Challenges

• Economic challenges faced by the Bank and the business world in 2002
• Social problems in underprivileged communities (e.g., poverty, unemployment, lack of education)
• Environmental challenges (e.g., climate change)
• AIDS epidemic in South Africa

Mitigation Strategies

• Continued social responsibility efforts despite economic challenges
• Supported community development projects focusing on affordable housing, job creation, and education
• Implemented environmental management systems and initiatives to reduce resource consumption
• Supported programs to address the AIDS epidemic in South Africa

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 14001

Sustainable Products & Innovation

• Sustainability-oriented funds (DWS)

Awards & Recognition

• Global Award for Best Business Book of the Year (1995)
• London Partnership Dragon Award (2002)
• Total-E-Quality Award (2002)
• Max-Spohr Award (2002)

Environmental Metrics

ESG Focus Areas

• Environmental Protection
• Social Responsibility
• Governance
• Ethical Conduct

Environmental Achievements

• Reduced total energy consumption in Germany by 10.3% between 2001 and 2005.
• Reduced CO2 emissions from energy generation in Germany by 13.1% between 2001 and 2005.
• Reduced total water consumption by 19% over the past five years.
• Reduced residual waste volume by 46.9% between 2001 and 2005.
• Increased recycled waste to 62.4% in 2005.
• Reduced business travel by 20.9% between 2001 and 2005.
• 20% of Deutsche Bank’s total electricity consumption in Germany comes from renewable sources (as of January 2006).

Social Achievements

• Launched db StudentenKredit, a student loan program without collateral.
• Offered discretionary portfolio management based on sustainable investments.
• Implemented various diversity initiatives, including employee networks and mentoring programs.
• Donated EUR 14.5 million to help Asian tsunami victims.
• Established the USD 75 million Global Commercial Microfinance Consortium to combat poverty.
• Implemented programs to support employee employability and work-life balance.
• Provided training (expenses per employee: EUR 1,583).

Governance Achievements

• Complied with German Stock Corporation Act, German Corporate Governance Code, and relevant US capital market laws.
• Issued annual declaration of conformity with Corporate Governance Code recommendations.
• Implemented a comprehensive Sustainability Management System, certified under DIN EN ISO 14001.

Climate Goals & Targets

Environmental Challenges

• Decreasing number of university graduates in Germany compared to OECD average.
• Disproportionately few people from lower social strata attending college.
• Declining government spending on education.
• Increasing complexity of global regulatory environment.
• Need to reduce energy consumption and greenhouse gas emissions.
• Need to improve sustainability along the supply chain.

Mitigation Strategies

• Developed db StudentenKredit to increase access to education.
• Implemented sustainable investment opportunities in Private Wealth Management.
• Established a comprehensive Compliance and Anti-Money Laundering Program.
• Implemented energy efficiency measures and promoted renewable energies.
• Developed sustainability criteria for corporate purchasing and supplier audits.
• Engaged in political dialogue to improve regulatory frameworks.

Supply Chain Management

Responsible Procurement

• Global Outsourcing Policy
• Global Sourcing Policy
• Vendor Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes

Opportunities

• Development of energy-efficient products and renewable energy projects

Reporting Standards

Frameworks Used: GRI, UN Global Compact

Certifications: DIN EN ISO 14001

Third-party Assurance: Det Norske Veritas

Sustainable Products & Innovation

• Sustainable investment products
• Microfinance initiatives

Awards & Recognition

• Corporation of London Dragon Award
• Golden Peacock Global Award for Corporate Social Responsibility
• Total E-Quality Award
• Working Mother Award

Environmental Metrics

ESG Focus Areas

• Climate Change
• Sustainable Finance
• Climate Risk
• Environmental and Social Due Diligence
• Human Rights
• Corporate Governance
• Stakeholder Engagement
• Culture, Integrity, and Conduct
• Anti-Financial Crime
• Data Protection
• Product Responsibility
• Client Satisfaction
• Diversity & Inclusion
• Corporate Social Responsibility

Environmental Achievements

• Reduced total energy consumption by 5.2% year-on-year.
• Sourced 91% of electricity from renewable sources (2020: 77%).
• Maintained carbon neutrality of own operations and business travel.

Social Achievements

• Launched #NotAlone campaign, supporting youth mental health in over 30 countries.
• Donated more than €980,000 in disaster relief for flood victims.
• 3.2 million people benefited from CSR programs.

Governance Achievements

• Reorganized the global Anti-Financial Crime function.
• Linked variable compensation of top executives more closely to ESG criteria.
• Established the Schneider-Lenné Cadre, a network for women leaders.

Climate Goals & Targets

Environmental Challenges

• Achieving gender diversity targets.
• Managing climate risks across portfolios.
• Ensuring compliance with evolving ESG regulations.
• Access to client-specific climate risk data.

Mitigation Strategies

• Launched '35 by 25' program to increase women in management positions.
• Developed a Climate Risk Framework aligned with TCFD recommendations.
• Implemented enhanced due diligence requirements for high-risk sectors.
• Joined Net Zero Banking Alliance and PCAF.

Supply Chain Management

Supplier Audits: From July 2022, ESG assessment required for contracts > €500,000/year.

Responsible Procurement

• Supplier Code of Conduct
• EcoVadis or equivalent rating agency assessments.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events, flooding

Transition Risks

• Regulatory changes, market shifts, carbon taxes

Opportunities

• Growth in sustainable finance, development of energy-efficient products.

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UNGC

Certifications: ISO 14001 (in Germany), ISO 50001 (in Germany)

Third-party Assurance: Ernst & Young (EY)

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 8 (Decent Work and Economic Growth)
• Goal 9 (Industry, Innovation, and Infrastructure)
• Goal 10 (Reduced Inequalities)
• Goal 11 (Sustainable Cities and Communities)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 16 (Peace, Justice, and Strong Institutions)
• Goal 17 (Partnerships for the Goals)

Financing and investment activities contribute to these goals.

Sustainable Products & Innovation

• Sustainability-linked loans, green bonds, ESG investment products.

Awards & Recognition

• Upgraded by three ESG rating agencies.
• Returned to Dow Jones Sustainability Index Europe.
• S&P Global listed among top 20% of largest European companies in terms of sustainability.

Environmental Metrics

ESG Focus Areas

• Climate change
• Sustainable finance
• Climate risk
• Environmental and social due diligence
• Human rights
• Financial crime
• Diversity, equity and inclusion
• Corporate governance
• Data protection
• Product responsibility

Environmental Achievements

• Reduced total energy consumption by 13.3% year-to-year.
• Sourced 95.7% of global electricity consumption from renewable sources.
• Received LEED Gold certification for new building at Columbus Circle in New York.
• Reduced Scope 1 and 2 financed emissions of its total corporate lending book from 58.8 to 56.7 MtCO2e/y on a total commitments basis and from 31.0 to 30.5 MtCO2e/y on a loan outstanding basis.

Social Achievements

• Launched "How we Live" CSR program for environmental impact.
• Donated €1 million to Ukrainian refugees.
• Over 18,700 employees volunteered, contributing almost 190,000 hours.
• More than 1,000 employees in Germany registered for the "So geht Geld" financial education project.

Governance Achievements

• Established a standalone Chief Sustainability Office.
• Linked executive compensation to ESG targets.
• Strengthened policies and controls to guide actions and ensure compliance.
• Increased Anti-Financial Crime department by over 340 employees to over 1,900.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions
• Energy crisis
• Rapid rise in inflation
• Meeting regulatory expectations in certain areas
• Geopolitical uncertainty and the war in Ukraine impacting sustainability activities and lending.
• Volatile conditions in global capital markets reducing issuance volumes.
• Data limitations in assessing and reporting climate risk metrics.

Mitigation Strategies

• Developed alternative sourcing strategies (ESG rating requirement for suppliers with annual contract volume > €500,000).
• Refocused Integrity Committee as Regulatory Oversight Committee.
• Strengthened processes and controls.
• Implemented German Supply Chain Due Diligence Act obligations.
• Increased headcount in Anti-Financial Crime department.
• Developed internal climate risk modelling capabilities.
• Client transition dialogue to support clients in their transformation.

Supply Chain Management

Supplier Audits: ESG rating requirement for suppliers with annual contract volume > €500,000 from July 2022

Responsible Procurement

• Supplier Code of Conduct
• Vendor balanced scorecards including sustainability performance indicator

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Flooding
• Droughts
• Heat

Transition Risks

• Regulatory changes
• Market shifts
• Changes in investor appetite for carbon-intensive clients/sectors

Opportunities

• Financing sustainable activities (e.g., renewable energy projects)
• Supporting clients in transitioning to less carbon-intensive operating models

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UN Global Compact, Principles for Responsible Banking, Equator Principles

Certifications: ISO 14001 (implied), ISO 50001 (Germany), ISO 27001 (Information Security)

Third-party Assurance: Limited assurance engagement

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 13 (Climate Action)

Sustainable finance activities contribute to these goals.

Sustainable Products & Innovation

• Sustainability-linked loans
• Green loans
• Green bonds
• ESG-linked borrowing base facilities
• Sustainable supply chain finance program
• ESG-linked derivatives

Environmental Metrics

ESG Focus Areas

• Climate change
• Sustainable finance
• Human rights
• Financial crime
• Diversity, equity and inclusion

Environmental Achievements

• Reduced Scope 1 and 2 emissions by 71% from end of 2019 to end of September 2023.
• Received 97% of its own global electricity consumption from renewable sources in 2023.
• Published its initial Transition Plan outlining its roadmap for achieving net-zero emissions by 2050.
• Established net-zero targets for seven carbon-intensive sectors, covering 54.4% of total financed emissions from its corporate loan portfolio.

Social Achievements

• Increased awareness on supporting employees with different starting points and continued investment in equity programs for historically under-represented groups.
• Over 23,400 employees dedicated over 212,000 hours to supporting non-profit activities in 2023.
• Invested €52.6 million in social commitment, art, culture, and sports projects, impacting 3.9 million people.
• Donated €1 million to youth education projects promoting tolerance and democracy.

Governance Achievements

• Enhanced strategy, execution, and control capacity in the Chief Sustainability Office.
• Created the position of a Head of Human Rights.
• Rolled out a regional governance program to align setup and communication to regulators worldwide.
• Linked top executives' performance-based compensation to the bank's sustainability strategy transformation.

Climate Goals & Targets

Environmental Challenges

• Reduced demand for sustainable financing and ESG investments due to uncertain market conditions.
• Complexity of transforming economies towards net-zero, especially given geopolitical and macroeconomic uncertainties.
• Increasingly sophisticated threat actors in the fight against financial crime.
• Need to address control deficiencies in anti-financial crime.

Mitigation Strategies

• Established a Net-Zero Forum to discuss and assess transactions and client transition strategies.
• Strengthened governance structures for sustainability, including the creation of a Head of Human Rights and regional governance programs.
• Strengthened anti-financial crime expertise, improved processes, and established external partnerships.
• Increased Anti-Financial Crime department headcount by around 500 to over 2,400 employees.
• Strengthened risk culture and provided regular employee training on key regulations.

Supply Chain Management

Supplier Audits: 240 of 300 largest suppliers contacted in 2023 for CDP climate change questionnaire.

Responsible Procurement

• Supplier Code of Conduct
• Requirement for external sustainability ratings for contracts over €500,000 per annum.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Flooding
• Drought

Transition Risks

• Regulatory changes
• Market shifts
• Changes in investor appetite

Opportunities

• Growth in sustainable finance
• Development of energy-efficient products and services

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UN Global Compact

Certifications: ISO 14064, ISO 50001 (Germany)

Third-party Assurance: Limited assurance engagement

UN Sustainable Development Goals

• Not disclosed

The bank aims to support all 17 UN Sustainable Development Goals, with nine closely linked to its sustainability strategy pillars.

Sustainable Products & Innovation

• Green loans
• Sustainability-linked credit facilities
• ESG-labelled bonds
• ESG-linked derivatives

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Sustainable Finance
• Climate Change
• Operational Sustainability
• Stakeholder Engagement
• Gender Diversity

Environmental Achievements

• Exceeded annual target for switching to renewable energy (97% at year-end 2023)
• Disclosed CO2 footprint for corporate loan portfolio (30.5 MtCO2e/y) and European residential real estate portfolio (3.9 MtCO2e/y) as at year-end 2022

Social Achievements

• Sustainability-linked management board remuneration
• Pathways for more female representation (35% of Managing Directors, Directors and Vice Presidents by 2025) developed and on-track

Governance Achievements

• CEO-led Group Sustainability Committee established in 2020, and Chief Sustainability Officer appointed in 2022
• Implemented key requirements of the German Supply Chain Due Diligence Act

Climate Goals & Targets

Environmental Challenges

• Limited availability of climate-related data
• Measurement uncertainties resulting from limitations inherent in the underlying data and methods used for determining metrics

Mitigation Strategies

• Expectations for increasing data quality are based on reporting obligations as currently developed. New regulations on reporting will likely become effective in the coming years.
• Continuous refinement of divisional strategies and expansion of sustainability offering

Supply Chain Management

Supplier Audits: Vendors with contract value >EUR 500k p.a. required to provide external sustainability rating

Responsible Procurement

• Vendors with contract value >EUR 500k p.a. required to provide external sustainability rating

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: PCAF