Deutsche Bank upgrades its Policy on Controversial Weapons
Deutsche Bank has clear policies in place to help ensure we conduct business responsibly and protect the bank from reputational risk. Deutsche Bank has reviewed and augmented its Policy covering defence-related business sectors with regards to so-called Controversial Weapons. The augmented Policy sets out the types of business in which the bank will not engage and describes the stringent governance and escalation processes by which we reinforce this Policy.
Controversial Weapons cause undue suffering and have a disproportionate humanitarian impact on civilian populations. Many are prohibited by international treaties and conventions of the United Nations (UN) or the European Union (EU).
Specifically, the Policy published today makes clear that Deutsche Bank avoids entering into, or continuing, any kind of business relationship with entities with clear, direct links to the following types of Controversial Weapons business:
- Cluster Munitions (CluMu)
- Anti-Personnel Mines (APM)
- Chemical, Biological, Radiological, Nuclear Weapons (CBRN)
- Controversial Conventional Weapons (CCW)
Stuart Lewis, member of the Management Board and Chief Risk Officer, said: "Deutsche Bank takes a clear and firm stance on controversial weapons, and we have now widened the scope of our Policy and reinforced governance in this area."