Commerzbank declares sustainability to be a central goal

Frankfurt / Main (dpa) – Like other financial institutions, Commerzbank is increasing the pace of climate and environmental protection.

“As Commerzbank, it is our common and most urgent goal to put capital into sustainable restructuring the economy, “said the CEO of the Frankfurt MDax group, Manfred Knof, on Friday.

” We are expressly committed to the Paris climate agreement. That is why we have committed ourselves to net zero the CO2 emissions of our entire loan and investment portfolio by 2050 at the latest, ”affirmed Knof. Corporate and private customers are to be supported in the conversion to a greener economy.

The core of the Paris Agreement of 2015 is the limitation of global warming to well below 2 degrees compared to the pre-industrial level. In view of advancing climate change, environmentalists and scientists are calling for more efforts to reduce emissions of the greenhouse gas carbon dioxide (CO2), for example.

Commerzbank wants its business volume, which is defined as sustainable, by 2025 triple to 300 billion euros. With a view to its own operations, the financial institution is striving to reduce CO2 emissions to net zero by 2040 at the latest: flights for business trips are to be restricted, buildings are to be further refurbished in terms of energy efficiency.

There are now numerous efforts in the financial sector on the subject of climate protection. In April 2021, for example, the “Net-Zero Banking Alliance” was launched, in which banks around the world strive to reduce their CO2 emissions as well as possible. Commerzbank and Deutsche Bank from Germany as well as Germany’s largest alternative bank GLS were there from the beginning.

In May of this year, Deutsche Bank also published its own targets for climate and environmental protection. The savings banks in Germany also want to help ensure that less CO2 is emitted and that overall management is more environmentally friendly. Environmental and climate protectors regularly doubt that such voluntary commitments are sufficient.

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