For instance, we support initiatives in New York focused on affordable housing. Equally important for us is the revitalization of city neighborhoods through cultural and educational programs. Since 2005, the Alfred Herrhausen Society has explored solutions for the problems of urban centers, together with the London School of Economics and an international team of city planners, traffic experts, sociologists, architects and scientists in the Urban Age conference series.
Urbanization is a global megatrend. By the end of the 21st century, two thirds of the world’s population will live in cities – with 1.4 billion people in slums by 2020. Cities are the motors of economic, cultural and scientific development but they are also places where problems flourish in a confined space. So the question is: What will the city of the future look like?
What do we aim to achieve?
We aim to help strengthen the cohesion of local communities, improve disadvantaged neighborhoods and counter exclusion. With a team of international experts, we also intend to develop transferable solutions and models for urban centers – and make them accessible to decision makers.
What is our approach?
What have we achieved?
- The Community Reinvestment Act (CRA) obligates banks in the United States to help meet the credit needs of low to moderate income communities. Our commitment far exceeds the legal minimum requirements. For that reason, the Federal Reserve Bank has consistently awarded Deutsche Bank the rating of "outstanding" over the past 20 years.
- Extensive research on cities and urbanization through the Urban Age Initiative of the Alfred Herrhausen Society: collection of data from every Urban Age conference and the two anthologies "The Endless City" and "Living in the Endless City."
- Deutsche Bank Urban Age Award: honoring projects that contribute to improving quality of life in urban centers. Each award, worth 100,000 US dollars, gives initiators the opportunity to continue and expand their project.