Sustainable finance commitment and target
As a global financial intermediary, we have a role to play in facilitating the transition of economies towards sustainable and low-carbon growth. We support this transition through our business activities by directing financial flows towards more sustainable and climate-friendly solutions.
To demonstrate our commitment, we have set ourselves the target of delivering at least 200 billion euros by 2023 in sustainable finance. Of the target volume of at least 200 billion euros by 2023, 86 billion euros is planned to come from the Private Bank, 30 billion euros from the Corporate Bank and 105 billion euros from the Investment Bank. The ESG assets managed by our asset manager DWS are not included in these calculations.
Sustainable finance offerings
We use our market expertise, products and services to assist our clients in the transition towards a sustainable and low-carbon business model, playing to our strengths as a universal bank.
- For our commercial and corporate clients, we create individual lending offerings to advance their own business transformation to low-carbon models.
- Our Investment Bank assists companies and governments in gaining access to sustainable financing on capital markets.
- Our asset manager DWS focuses on mainstreaming ESG by integrating ESG aspects into investment strategies, product portfolios and services.
- We are continuously growing the number of sustainable investment products available for institutional and private investors.
- Some of our offerings seek to directly or indirectly contribute to the Sustainable Development Goals of the United Nations’ global 2030 Agenda.
When defining which activities it will classify as sustainable, the bank will be guided by the EU Taxonomy ? the European Union standard. To this end, we have developed a Sustainable Finance Framework to establish a bank-wide consistent definition of what constitutes sustainable finance. It links to the EU taxonomy for environmental criteria, but also includes social criteria we have set up that follow international principles, such as the International Capital Market Association (ICMA) Social Bond Principles. The Sustainable Finance Framework has been validated by Institutional Shareholder Services ESG who has issued a Second Party Opinion (summary and full version) on the Framework.
Issuance of green and ESG bonds
Deutsche Bank helps clients across the globe to raise sustainable financing through issuing ESG bonds. These include green bonds, social bonds, sustainable bonds and bonds linked to sustainability criteria.
On 2 June 2020, Deutsche Bank successfully placed its first own green bond. The proceeds of the issuance will be used to refinance the sustainable projects, such as the expansion of renewable energies. Deutsche Bank’s Green Financing Framework has been validated by Institutional Shareholder Services ESG who has issued a Second Party Opinion on the Framework.