• UN Climate Change Conference 2022

    We support the COP27 Resilience Hub

Ship on the river

How do we manage the transition to a low carbon economy in light of the recent energy crisis? And how can we manage it in a fair way for developing countries? How do we preserve biodiversity on land and sea – the natural capital that underpins our economy? How can we use environmental, social, governance or ESG bonds to help companies transition? Experts from around the world will debate these questions at the United Nations Climate Change Conference 2022 (COP27) in Sharm-el-Sheikh.

One place for this exchanging of ideas is the Resilience Hub that Deutsche Bank is supporting as a sponsor this year. This virtual and physical space at COP27 gives non-state stakeholder from business, civil society, academia, cities and regions a great opportunity to discuss transition strategies and to explore new ways to collaborate. Deutsche Bank thinks this is a great opportunity as we are convinced that the climate emergency needs more intense cooperation than ever.

Take a look at our event program and meet our experts at the COP27 Resilience Hub. All our events are hybrid and can be followed virtually.

Jörg Eigendorf

How can financial institutions use their operations to build climate resilience?

Show content of Full article from Jörg Eigendorf, Chief Sustainability Officer, Deutsche Bank

The topic of resilience usually comes to the fore in the wake of catastrophic events. The devastating hurricanes in Central America and Florida, the floods in Pakistan, as well as the extreme heat wave in Europe and the United States – all happening simultaneously over the last few months – have demonstrated once again that we must take the Intergovernmental Panel on Climate Change reports very seriously. And we need to understand: this is only the beginning!

It is only a matter of time until discussions of resilience dominate the headlines and the political agenda, and public debate about the need for solutions quickly gains intensity.

The Resilience Hub, which was featured for the first time at the Climate Conference in Glasgow last year, gives non-state actors from business, civil society, academia, cities and regions a great opportunity to discuss strategies for adaptation and to find new ways to cooperate. After being involved in discussions last year, we are now stepping up to support the hub as a sponsor. We are convinced that the climate emergency needs more intense cooperation than ever.

So what is our role? How can banks contribute to sustainable and resilient systems?

First of all, our balance sheets and our capital market instruments give us a unique lever to raise capital for the transition towards a more climate-friendly and more social world. Transition financing to fight climate change and environmental destruction is gaining speed rapidly – and investing in the resilience of our systems must be a vital part of that.

Helping our clients develop sustainable business models

A core part of Deutsche Bank’s sustainability strategy is to be a reliable partner in financing and advising clients in achieving their Paris Agreement goals. We see that the demand for environmental and social financing – and also for advice – is growing among our corporate clients.

In the first six month of this year alone, my colleagues across Deutsche Bank have met with more than 600 clients to discuss the optimal integration of ESG into their corporate strategy and reporting requirements. From January 2020 until the end of June 2022 alone we facilitated 191 billion euros in ESG financing and investment. Our goal is to make ESG-financing and investment of more than 500 billion euros possible by the end of 2025.

While we have ambitious targets, it is clear that the transition will go much faster if the entire financial sector agrees on terms to drive the transformation. Therefore, the Glasgow Financial Alliance for Net Zero (GFANZ) plays a crucial role in setting the framework for banks and asset managers to align in their battle for net-zero greenhouse gas emissions by 2050. Climate is a public good, hence it needs common standards and alignment to allow the market to develop its full strength in the fight against climate change and its consequences.

Financing resilience and adaptation

The fight against climate change is a vital precondition for continued life on planet earth – and it needs a holistic approach that includes investments to heal damage, actively strengthen the resilience of our ecosystems, and helps the most vulnerable groups adapt to climate change.

We at Deutsche Bank are helping drive investment into nature resilience and the importance of protecting and enhancing nature-based solutions. For example, Deutsche Bank’s International Private Bank was the first bank to join the Ocean Risk and Resilience Action Alliance as a full member in 2021. With the Deutsche Bank Ocean Resilience Philanthropy Fund, we are giving clients and other stakeholders the opportunity to create ocean impact and support conservation efforts, playing our part in creating a better, more sustainable future for one of the world’s most precious resources.

Also, we promote the green bond market and support the growing demand in sustainability linked bonds (SLBs) and debt-for-nature swaps to connect market activity to responsible corporate behavior. We see it as our task to make the impact of these instruments on the Sustainable Development Goals more transparent.

COP27 is a great platform for us to drive this change.

Here, we will share our financial expertise and enter into dialogue with a diverse group of stakeholders. We are happy to welcome you to the Resilience Hub at COP27 in Sharm-el-Sheikh.

Our thinking

Prior to COP27 we asked some of our sustainability experts what they expect from this year’s COP and how they will answer the most pressing questions for their business area: is ESG still at the top of the agenda for corporates? How can a fair transition be achieved? How can we react to the loss of biodiversity?

  • The Implementation-COP?

    The burdens of climate change weighs most heavily on the shoulders of the global south. What can banks do to support a fairer transition? What financial instruments are at hand? Claire Coustar, our global Head of ESG and Sustainable Finance / FIC, provides answers.

  • The power of Nature Based Solutions

    By 2050, approximately 90 percent of our coral reefs could be gone. Markus Müller, Chief Investment Officer ESG, explains why Nature Based Solutions are crucial to strengthen the resilience of our eco-systems and how banks and private investments can contribute.

Latest Sustainability News

In this section we summarize the events that Deutsche Bank executives will attend, show you the latest ESG-news from Deutsche Bank and videos with experts who we will meet alongside our events. We will use the occasion of COP27 to share ideas with them and hear their thoughts and solutions for the most urgent challenges that we face. Stay tuned.

Take a look at our event programme

(All events are in local time, CET+1)

9:00-10:00AM, International Institute for Environment and Development (IIED)

Debt Swaps for Climate and Nature: The Time is Now

This session will facilitate a dialogue between debtor governments and creditors to reach political commitments for more large scale, programmatic debt swaps for climate and nature. From debtors, the event will involve Ministries of Finance from developing countries and identify their needs for fiscal space and poverty reducing and growth enhancing investment in climate and nature action.

For creditors, developing country sovereign debt is held by a wide range of stakeholders including bilateral and multilateral donors and private investors. This means that efforts to address debt stress and negotiate debt for climate and nature swaps are more complex. The event is targeted at debtor and creditor governments, private investors interested supporting climate and nature outcomes, international institutions engaged on debt, climate and nature and civil society working with local communities seeking investment in climate resilience, mitigation and natural resource management.

Facilitator: Joseph Stiglitz, Columbia University; Paul Steele, International Institute for Environment and Development (IIED)

Participants: Head of States: Barbados Prime Minister Mia Motley, Colombia President Gustavo Petro, Kenya President William Ruto, Gambia President Adama Barrow

Frontline Communities: Vanessa Makate / Uganda, Hindu Ibrahimi / Chad

Heads of Agency: Kristalina Georgieva / IMF, Akinwumi A. Adesina / African Development Bank, Claire Coustar, Deutsche Bank's Global Head of ESG and Sustainable Finance for Investment Bank -Fixed Income & Currencies.

07:00-08:30PM, co-hosted by Deutsche Bank, the Ocean Risk and Resilience Action Alliance (ORRAA) and UNESCO

Evening reception of the Ocean Risk and Resilience Action Alliance (ORRA) and Deutsche Bank

This evening reception will bring together key figures in finance, governments, the scientific community, NGOs and civil society. The aim is to network, spark new dialogue and forge new partnerships focused on ocean and climate resilience.

Co-hosts will be Markus Müller, CIO ESG of Deutsche Bank Private Bank, Karen Sack, ORRAA Executive Director, and Vladimir Ryabinin, Assistant Director General of IOC-UNESCO.  They look forward to welcoming H.E. Dr. Hala El-Said, Egypt's Minister of Planning and Economic Development and Gwynne Taraska, Senior Advisor and Managing Director for Cross-Cutting Climate Issues in the office of the U.S. Special Presidential Envoy for Climate.

Private investors will be key to achieving COP27 aims on climate finance and improving its adequacy, transparency and accessibility. Getting them onboard will involve new and innovative partnerships to address an ever-changing risk landscape. We all need to discuss how to do this.

08:00-09:45AM, hosted by UN Global Compact and the High Level Climate Champions

Blue Finance Breakfast

COP27 is a unique opportunity to turn commitments into actions and galvanize actions on ocean finance. Such actions will activate an “ocean ambition loop’’ - a positive feedback loop in which bold government policies and private sector leadership reinforce each other, and together take climate and ocean action to the next level, supporting as well  market-based investments that align with the needs of large investors.

This event, by bringing together governments and leading financial institutions in the same room, will help spearhead a “blue ambition loop” from governments and non-state actors to live-up to their commitment and accelerate investments in ocean-based climate solutions.

09:00-10:30AM, hosted by the Ocean Risk and Resilience Action Alliance (ORRA)

Investing in African Coastal and Ocean Resilience

The blue economy is critical to Africa’s prosperity. Its supports 50 million jobs and generates $296 billion annually, but mounting climate risks threaten coastal and ocean natural capital, eroding the sustainability of Africa’s blue economy.

To build resilience, governments, civil society, and the private sector must work together to build and deliver innovative financial products that drive investment into natural capital and build thriving communities. This workshop will focus on how to drive investment into growing a sustainable and equitable African Blue economy that delivers positive climate and biodiversity outcomes for Africa’s coastal communities.

2:00-3:00PM, KPMG, the Rockefeller Foundation and Deutsche Bank 

Resilience and Finance Innovation in the Clean Energy Transition

Financing sustainable energy poses pressing equity and access challenges, particularly for low-income and developing countries. However, the clean energy transition has the potential to not only lower emissions but strengthen resilience in the face of climate change and future market shocks. 

This session will discuss the need for massively scaling up investment in clean energy to improve sustainable and reliable energy access, promoting low-carbon businesses and communities. Ultimately, panellists will give insight on resilient thinking that drives financial innovation towards an equitable, green energy transition.

Opening remarks: Vision for a Sustainable and Resilient Future – Joerg Eigendorf, Chief Sustainability Officer (Deutsche Bank)

Moderator: Kathy Baughman McLeod – Atlantic Council’s Senior Vice President and Managing Director of the Adrienne Arsht-Rockefeller Foundation Resilience Center

Panelists: Lavinia Bauerochse, Global Head of ESG Corporate Bank (Deutsche Bank), Joseph Courti, Director of Power & Climate at the Rockefeller Foundation, Jorn Verbeeck, Senior Sustainability Officer (KPMG), Tracy Lane – Director, Climate, Renewable Energy & Resilience (KPMG East Africa)