Deutsche Bank and the SDGs

Deutsche Bank is committed to the principles of the UN SDGs, UN Global Compact, UN PRB and the Paris Agreement. As a signatory of the Principles for Responsible Banking, Deutsche Bank has committed to achieve net-zero transmission by 2050. The Net-Zero Banking Alliance, a part of the PRBA, is the climate focused component.

(Source : https://www.db.com/what-we-do/responsibility/sustainability/sustainability-strategy)

Made for Good projects

Through it’s projects in the UK, India, Germany, South Africa, Italy and the US, Deutsche Bank has been able to reach 1.6 million people in 2022 and support 27,000 social enterprises since 2016. Professionals of the company  provide mentoring and training , creating a future generation of entrepreneurs in the UK.

Deutsche Bank supports business ideas in rural india through way of microfinance, which in turn uplifts entire communities through employment opportunities and better access to clean energy.

Deutsche Bank together with Social Impact introduced their Global Goals Lab inititative, aside from providing training and mentorship, they provide a platform for likeminded individuals to develop ideas and promote sustainable development.

To tackle the donor reliance problem in South Africa, Deutsche Bank’s Income Generation Programme helps NGOs and other non-profits diminish financial uncertainty by helping them find alternative sources of revenue. Through their Shine programme, Deutsche Bank provides access to education and employment opportunities to the most vulnerable, also providing training on how to build and run such centres.

Deutsche Bank also supports KIVA, the largest platform for crowdfunding social projects which helps people, in particular members of ethnic minority communities and women , with limited access to capital in developing countries.

Deutsche Bank Italy Foundation in partnership with other Italian organisations support the future generation of Italian craftspeople, as the manual work of the sector has not been successful in attracting younger people, alleviating the extremely high levels of unemployment of youth, and rejuvenating the Italian handmade goods industry, which is under threat.

 

Green Finance

Under their Green Financing Framework, they aim to provide their clients the necessary resources to make to switch to a sustainable future. It includes several green financing instruments which are designated under the European Green Bond Standards. They have a stringent set of eligibility criterion with regards to investments in and loans to projects, corporations and assets which reduce usage and wastage of energy, relate to clean and renewable energy and acquire, and construct new and existing buildings. A recent example of this would be when, acting as the lead arranger, Deutsche Bank closed renewable energy project deals in Australia in 2022, the first being the Merredin Solar Farm in Western Australia and for the Stockyard Hill wind farm in Victoria, a week later. The latter project will provide clean power to 425,000 homes every year.

Progress so far

In their 2022 Non-Financial report, Deutsche Bank proves it’s dedication towards transitioning towards sustainable operations. Their investment in sustainable finance crossed 215 billion by the end of 2022 and achieved a reduction in emission in all of their sectors. Furthermore, they have stood by their stance of not financing any new coal mines. Their commitment towards support inclusion, diversity and equity was also upheld as women made up 46 % of all staff and 20% of the Management. They’ve made significant strides towards their ’35 by 25’ commitment, where women now comprise of 30.7% of top executive level roles and were awarded the maximum score of 100 in the equality index, cementing their position as leaders in LGBTQI rights.

References

Made for Good (no date). Available at: https://www.db.com/what-we-do/responsibility/society/made-for-good?language_id=1&kid=cr-en-society-made-for-good-htm.redirect-en.shortcut.

Principles for Responsible Banking to strengthen climate ambition to meet increased expectations – United Nations Environment – Finance Initiative (no date). Available at: https://www.unepfi.org/industries/banking/principles-for-responsible-banking-to-strengthen-climate-ambition-to-meet-increased-expectations/.(Accessed: March 24, 2023)

2022 Deutsche Bank Non-Financial Report (2023). Available at: https://investor-relations.db.com/files/documents/annual-reports/2023/Non-Financial-Report-2022.pdf (Accessed: March 24, 2023).

Green Financing Framework (no date). Available at: https://investor-relations.db.com/files/documents/green-financing/Green%20Financing%20Framework%20(June%202022,%20Englisch).pdf.(Accessed: March 24, 2023)