Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 151

Deutsche Bank brings forward its target date for 200 billion euros of sustainable finance by two years to 2023

Posted by fidest press agency su martedì, 25 Maggio 2021

Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) will align its business even more strictly to environmental, social and governance (ESG) criteria and is setting ambitious targets for them. It aims to facilitate over 200 billion euros in sustainable finance and investments by the end of 2023, two years earlier than originally planned. “We have to progress as quickly as possible from ambition to impact”, said CEO Christian Sewing. “Since announcing our 200 billion euro target last year, we have made significantly more progress than we anticipated. We now want to achieve this volume sooner and we will report on progress transparently and in detail”. By the end of the first quarter of 2021 the bank’s business divisions (not including DWS) had facilitated sustainable finance and investments of 71 billion euros. In cooperation with the Monetary Authority of Singapore, the city-state’s central bank, Deutsche Bank is establishing an ESG Centre of Excellence. Its task will be to focus on public and private ESG product development, advisory services and financing. It will be run by Kamran Khan, Deutsche Bank’s head of ESG in Asia-Pacific. Represented by its International Private Bank, Deutsche Bank has become the first bank to be a full member of the Ocean Risk and Resilience Action Alliance. Deutsche Bank Research will regularly focus on ESG in its reports on the German Mittelstand. The bank will roll out a concept for sustainability ambassadors. This group of experts from different business divisions and infrastructure functions will boost its representation at public forums and engage with stakeholders on ESG topics. In its home market, Deutsche Bank aims to invest more in financial education. By the end of 2022, it plans to double the number of employees who provide financial education to schools at least once a year from 350 to 700.


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