Commerzbank
ESG Presentation
December 2023 | Commerzbank, Group Investor Relations, Frankfurt |
Agenda
Agenda
- Sustainability approach
- KPI details
- Client business sustainability
- ESG framework
- Governance and organisation
- Social dimension
- Additional information
Commerzbank ESG Presentation
December 2023 | Commerzbank, Group Investor Relations, Frankfurt | 2 |
Sustainability
approach
December 2023 | Commerzbank, Group Investor Relations, Frankfurt | 3 |
Sustainability, ESG and sustainable Finance are different aspects of the same topic
Sustainability | ESG | Sustainable Finance | ||
Environmental, Social, Governance | ||||
"Sustainable development is | "All three components - | "The Federal Government understands |
environmental, social and | sustainable finance as, financial market players | |
development that meets the needs | ||
governance (ESG) - are integral | take sustainability aspects into account in their | |
of the present without | ||
parts of sustainable economic | decisions. An appropriate integration of | |
computing the ability of the future | ||
development and financing." | sustainability-related risks into the risk | |
generations to meet their own | ||
management of financial market actors is | ||
needs." | The European Commission (2018) | |
essential" | ||
Brundtland Report (1987) | ||
BMF Monthly Report (2020) | ||
December 2023 | Commerzbank, Group Investor Relations, Frankfurt | 4 |
Regulatory and voluntary commitments set the framework for our sustainable transformation
Legal requirements
EU-Taxonomy
Framework for climate and environmentally friendly activities and investments
Voluntary commitments1
Principles for Responsible Banking (PRB)
Framework for ensuring that signatory banks' strategy and practice align with SDGs and Paris Agreement
Supply Chain Act
German law requiring companies to monitor human rights and environmental risks in their supply chains
Taskforce on Climate-related Financial Disclosures (TCFD)
Disclosure of climate-related risks and opportunities
ECB Guide & Climate
Stresstest
Assessment of how well banks are able to cope with financial and economic shocks
1) Exemplary excerpt | |
December 2023 | Commerzbank, Group Investor Relations, Frankfurt |
SBTi
Collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) for set a science-based climate target
5
Management view and core beliefs
With the strategy update sustainability is firmly anchored in all areas of the bank
"We have established a robust framework to steer the green transformation that has received the approval from SBTi. Our target to become net-zero by 2050 has been drilled down to the different industries in our portfolio by applying this methodology."1
Sustainability as a business | Sustainability has to be | |
opportunity | approached holistically | |
● Every client is affected by transformation - we | ● We understand sustainability across all | |
offer innovative products and services to | dimensions | |
support our clients in the best way | ● Sustainability affects all segments of our bank | |
● Customers expect sustainable banking - only | - operations, product offering, risk | |
if we offer credible products and solutions we | management | |
will sustain | ||
● Digitisation and sustainability go hand in hand | ||
- we want to use those synergies |
Sustainability needs to be
managed consequently
- Climate and ESG related risks are potential risks for our clients and for us - we identify, monitor and manage these risks consequently
- Customer relationships which are not sharing our core beliefs will be carefully looked at
Status Quo
- Sustainability in CEO responsibility - establishment of Group Sustainability Management and Group Sustainability Board
- "Moving Forward 2027" strategy is based on the three pillars growth, excellence and responsibility - with responsibility representing the entire sustainability spectrum of "Environment, Social and Governance (ESG)" and seen as a duty for our customers, society and future generations
- Establishment of ESG Committee within the Supervisory Board to ensure a holistic anchoring of the topic
- Implementation of "Environmental Risk Control" unit to ensure standards and overarching management of ESG risks and targets
- Manfred Knof at Commerzbank's Capital Markets Update, November 2023
December 2023 | Commerzbank, Group Investor Relations, Frankfurt | 6 |
Our ESG Strategy follows a holistic view
Our overarching goal is directed by our commitment to meet the global challenges as a responsible partner for sustainable economic and social development.
E | S | G | ||
- Working steadily on reducing our ecological footprint
- Facing and supporting the transformation process of economy to reach Paris climate goal
- Offering customers environmentally friendly products and services according to demand of todays needs
- Accompanying customers sustainable transition as a valued partner
- Being a supportive and attractive employer for our employees and future talents
- We are only satisfied with our performance if our stakeholders are satisfied with us
- Actively supporting and fostering community work and employee engagement, especially in times of pandemic
- Diversity & inclusion as a strategic and integral part of the entire bank
- Foster compliance, responsibility and transparency as elements of our corporate culture and act in accordance with the law
- Assuming responsibility for our actions, our products and services, and their impact
- Ensuring Commerzbank's long-termprofitability by assessing risks comprehensively
- Good corporate governance through a collaboration between the Supervisory Board and the Board of Managing Directors (two-tier- system)
December 2023 | Commerzbank, Group Investor Relations, Frankfurt | 7 |
The foundation of our sustainability strategy: we become net-zero
2020 | 2021 | 2040 | 2050 |
Joining the | Joining the | Banking | Customer |
Science- | Net-zero | operations | portfolio |
Based | Banking | net-zero | net-zero |
Targets | Alliance | ||
initiative |
December 2023 | Commerzbank, Group Investor Relations, Frankfurt | 8 |
Definition of scope 1, 2 and 3 emissions
Scope 1: direct emissions
- Emissions directly caused by the organization, organization as the source of the emission
- Within Commerzbank mostly caused by
normal business continuity
Scope 2: indirect emissions
- Indirect emissions caused by the organization through the use of energy
- Within Commerzbank, this could be the power consumption of our IT infrastructure
Scope 3: further indirect emissions
- Emissions caused by our business activities, without any source in the organization
- Scope 3 emissions for Commerzbank could be divided into:
Other "bank" emissions
- This is caused, e.g. by business travel
Financed emissions
- By financing CO2-intensive companies and
households
December 2023 | Commerzbank, Group Investor Relations, Frankfurt | 9 |
Ongoing progress in ESG according to plan
Main achievements 2022/ 2023
Targets 2023
€201bn
sustainable finance volume mobilised as per Q3 2023
Appointment Chief
Environmental Risk Officer
"CERO" incl. department
External | |
ESG Committee | Sustainability |
in Supervisory | Advisory Board |
Board implemented | established |
ESG- | |
Framework | SBTi targets set |
published | |
and validated | |
Driving forward our | |
net zero- strategy | |
e.g. Launch of impact | |
solutions platform for | |
corporate clients | |
Employee training: | … besides others: |
sustainability basics |
initiative
joined!
Sustainable finance
volume of
€257bn
Development and | |
launch of new | |
ESG products | |
Screening und steering of | |
additional ESG-related | |
topics such as biodiversity | Employee training |
and social sustainability | |
started: | |
advanced sustainability |
We continue to work diligently and drive our sustainability strategy forward
December 2023 | Commerzbank, Group Investor Relations, Frankfurt | 10 |
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Disclaimer
Commerzbank AG published this content on 08 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 December 2023 15:11:51 UTC.