Deutsche Bank has committed to reduce its global carbon footprint by 20 percentage points every year compared to its 2007 base year in order to neutralize CO2 emissions of its worldwide operations by 2012.
Deutsche Bank has committed to reduce its global carbon footprint by 20 percentage points every year compared to its 2007 base year in order to neutralize CO2 emissions of its worldwide operations by 2012. The Bank plans to reduce its carbon emissions through sustainable improvements in the energy efficiency of its buildings and technology infrastructure, greater use of renewable energy sources as well as the purchase of emission certificates to offset any remaining CO2 emissions. Toward that goal, the Bank agreed to purchase Renewable (Green) Energy for the next 2 years (2009/2010) covering 100% of the electricity used by its U.S. corporate offices and facilities. The renewable energy contract will deliver 160,000 megawatt hours per year of renewable power, the equivalent of powering over 14,500 homes.
Procuring Renewable Energy is one element of our overall global sustainability initiative. Deutsche Bank believes sustainability means future viability - with the aim of ensuring that future generations enjoy a healthy environment as well as stable economic and social conditions. We are committed to this guiding principle.
As a result of this commitment to buy “green” electricity for the US market, Deutsche Bank will significantly reduce its CO2 emission profile. Electricity production is one of the leading drivers of greenhouse gas emissions that contribute to global climate change. With this commitment, Deutsche Bank will prevent more than 404 million pounds (~183,000 metric tons) of CO2 from entering the earth's atmosphere over a two year period. This commitment has an annual environmental benefit equivalent to removing 16,790 cars, planting 32.55 square miles of forest, or reducing the consumption 213,590 barrels of oil.
With this commitment to renewable energy, Deutsche Bank is proudly sharing a message with our employees, our shareholders, our customers, and the community at large that we support the development of clean, renewable energy resources that contribute to the reduction of greenhouse gas emissions.