Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate protection
• Sustainable economic development
• Integrity
• Compliance
• Reputational risk management
• Customer focus
• Employee engagement
• Diversity & Inclusion

Environmental Achievements

• Reduced CO2 emissions by 67.1% by the end of 2014 (compared with 2007); operations became climate-neutral in 2015 through offsetting.
• New bank car regulations providing incentives for low-CO2 vehicles and electric vehicles.
• Revised sustainable procurement standard.

Social Achievements

• Commerzbank environmental internship, recognized as an official project of the UN Decade on Biodiversity.
• Numerous cooperation and sponsorship projects, supporting volunteering by staff and the activities of nine foundations.
• Commerzbank Customer Advisory Council with new members in 2015.
• Expanded health management services including nutrition, stress management, movement and addiction prevention.
• 367 fathers took an average of 2.2 months of parental leave.

Governance Achievements

• Established a comprehensive compliance program called ARC (Achieving a Robust Compliance Framework) to ensure employees keep within the law and regulations.
• Updated binding Code of Conduct.
• Reached settlements with various US authorities regarding violations of US sanctions and anti-money laundering provisions.

Climate Goals & Targets

Environmental Challenges

• Stiff competition and difficult market environment.
• Violations of US sanctions and anti-money laundering provisions.
• Low interest rates.
• Increasingly stringent regulatory requirements.
• Uncertainty over the eurozone's future.
• Doubts over China's growth prospects.
• Uncertainty over the timing of the first US rate hike.
• Movement of refugees and resulting polarization.
• Globally spreading terror.
• Incipient uncertainties in the US high-yield bond market.

Mitigation Strategies

• Implementation of its strategic agenda and further reduction of risks and complexity.
• Strengthening of the capital base with a capital increase.
• Reached settlements with US authorities and implemented the ARC program.
• Improved compliance function and reinforced compliance management.
• Restructuring of Human Resources with a focus on the Bank’s targets.
• Outsourced some standardized tasks to lower costs.
• Constructive work with employee representative committees.
• Socially responsible implementation of personnel restructuring measures.
• Support for employees through internal HR advisors, coaching, and orientation workshops.
• Constant review of internal processes, structures and technical platforms.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Revised sustainable procurement standard.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Financing of renewable energy.

Reporting Standards

Frameworks Used: GRI

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Commerzbank Global Equities – Catholic Values fund

Awards & Recognition

• German Award for Excellence 2015 in the carbon footprint category
• 100 out of 100 in the CDP Climate Disclosure Ranking 2015

Environmental Metrics

ESG Focus Areas

• Circular Economy
• Sustainability
• Climate Change
• ESG

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Established API-Banking department in 2017 to promote collaborations among corporations focusing on building ecosystems with sustainable business models.
• Joined the Net-Zero Banking Alliance in April 2021.
• Positioned its sustainability department under the Board of Managing Directors in 2020.

Climate Goals & Targets

Environmental Challenges

• Lack of financing for circular economy business models.
• Valuation of circular goods.
• Elaboration of payment modalities for service-based business models.
• Need for collaboration and transparent tracking of product cycles.
• Data sharing among stakeholders.
• Regulatory pressure (e.g., Supply Chain Act, ESG ratings).

Mitigation Strategies

• Banks can provide monetary resources and impact investing.
• Banks can assist in the valuation of circular goods.
• Banks can help reconsider traditional payment modalities.
• Banks can provide technical solutions (APIs), advisory services, and data platforms to enable collaboration and tracking.
• Banks can offer advisory services concerning regulatory requirements.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed