California AB 1305 Disclosure
Deutsche Bank has set 2030 goals for decarbonizing own operations and actively managing carbon emissions across our supply chain. Levers to reduce emissions include reducing energy consumption, sourcing more electricity from renewables, reducing business travel, and addressing residual emissions through the purchase of offsets.
Deutsche Bank has been compensating its carbon footprint from the scopes mentioned above since 2012 and the below table is the 2024 offset portfolio to achieve this.
Offsetting residual CO₂ emissions
One of Deutsche Bank’s most important environmental commitments is to reduce and compensate CO₂e emissions for own operations and business travel. This is achieved by consuming less energy, travelling less, and purchasing more renewable electricity, and then finally by offsetting Deutsche Bank’s residual Scope 1 and 2 emissions as well as those associated with Deutsche Bank group’s business travel.
Having reduced energy consumption and purchased renewable electricity for 97% of all electricity consumption, in 2024, Deutsche Bank continued to offset the residual emissions by purchasing and retiring certificates that fulfill the bank’s quality criteria, such as Verified Emission Reduction (VER) certificates. The certificates purchased in 2024 fund investments in a diversified portfolio of projects that promote climate protection and economic development in Africa, Americas, and Asia. All projects comply with recognized global standards: 70.5% with the Gold Standard, 26.5% with the Verified Carbon Standard or Verra and 3% with Puro.
The projects supported by the VER certificates (purchased and retired along with the emissions they offset) are shown in the table below:
| Project Name |
Project | Offset Type | Project Type | Country | Standard | Provider | Registry |
|---|---|---|---|---|---|---|---|
| Amayo Phase II Wind Power | GS 828 | Avoidance | Renewable Energy | Nicaragua | Gold Standard | First Climate Markets | Gold Standard Impact Registry |
| Bac Lieu Province Wind Power Plant | GS 1890 | Avoidance | Renewable Energy | Vietnam | Gold Standard | Climate Impact Partners | Gold Standard Impact Registry |
| Mozambique Safe Water Program | GS 7591 | Avoidance | Energy Efficiency | Mozambique | Gold Standard | First Climate Markets | Gold Standard Impact Registry |
| Gas Distribution Leak Reduction | VCS 2478 | Avoidance | Leak Reduction and Repair | Bangladesh | Verra | Climate Impact Partners | Verified Carbon Standard |
| Aperam BioEnergia Biochar | 175613 | Removal | Engineered removals | Brazil | Puro Earth | ClimatePartner GmbH | Puro Registry |
| Delta Blue Carbon – Indus Delta Mangrove Restoration Project | VCS 2250 | Removal | Blue Carbon | Pakistan | Verra | ClimatePartner GmbH | Verified Carbon Standard |
Note:
- 2024 offsetting claims have been externally validated and independently assured. For further details, please refer to the 2024 In-house ecology update.
- Offset information is available back to 2012, please contact Deutsche Bank for further details.
- Statements on Deutsche Bank websites concerning carbon dioxide or greenhouse gases are determined to be accurate or accomplished, and how interim progress toward such goals is measured can be accessed within Deutsche Bank’s Transition Plan and 2024 In-house ecology update.