September 16, 2014

Deutsche Bank supports World Bank’s Carbon Pricing statement

Deutsche Bank has joined more than 1000 businesses in support of the World Bank’s “Putting a Price on Carbon” campaign. Companies pledge to work with governments towards the objective of a carbon price applied throughout the global economy.

Carbon Pricing

Notable companies signing the statement include Shell, Braskem, Nokia, Munich Re, Unilever, Alstom, Doosan, as well as many small and medium sized enterprises from around the world. On the government side, the statement is so far supported by 44 countries as well as 11 sub-national jurisdictions.

The World Bank estimates that 40 national and over 20 sub-national jurisdictions have implemented or have firm timetables for implementing emissions trading schemes or carbon taxes. Together, these jurisdictions account for more than 22 percent of global emissions. Almost half of global carbon emissions would be covered by a carbon price if countries implement their planned policies.

More than 85% of the largest 500 companies have emission reduction targets and some companies like ExxonMobil and Xcel Energy use an internal price of carbon in their business planning (source: CDP 2013).

Group Sustainability Officer Sabine Miltner said “Deutsche Bank has long supported carbon pricing policies in order to increase low-carbon investment and innovation. We are committed to continuing our carbon neutrality and increasing effort to apply our financial expertise to environmental sustainability issues.

A growing number of companies are supporting the initiative in the lead-up to the UN Secretary General’s Climate Change Summit on 23 September.

Sabine Miltner, Group Sustainability Officer

“Deutsche Bank has long sup­por­ted car­bon pri­cing poli­cies in order to in­crease low-carbon invest­ment and inno­vation. We are com­mit­ted to con­tinu­ing our carbon neu­tra­li­ty and in­creas­ing effort to apply our finan­cial exper­tise to en­viron­men­tal sus­tain­ability issues.”

Sabine Miltner Group Sustainability Officer

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