Building social capital
Deutsche Bank was one of the main initiators and first signatories of the “Code of Responsible Conduct for Business”, launched in November 2010 of 21 German companies. With this code, we intend to integrate social responsibility even more closely in our business processes and duly consider it in all our decisions.
Corporate Social Responsibility means more to us than donating money: we want to build social capital – for our own good. In the year under review, the bank and its staff took part in a wide range of social projects both in Germany and abroad. We invested nearly € 100 million – more than ever – in educational, social, art and music projects, in addition to our employee volunteering activities.
Sustainability: Ensuring viability
Deutsche Bank has been committed to the principle of sustainable development and consistently implements it along the accepted Environmental, Social and Governance dimensions of sustainability. On the way to full carbon-neutrality of our operational activities from 2013 onwards we achieved our annual carbon reduction objective for 2010 and moved back into our headquarters in Frankfurt after a 3-year retrofit program to become one of the most environmental-friendly skyscrapers worldwide. The bank’s internal guidelines for risk management have been expanded by a “Green Filter” tool in order to include the carbon impact of transactions in our decision processes. Our commitment to sustainability is documented in particular by our long-time membership in the UN Global Compact and the signing of the Principles for Responsible Investment (PRI) of the United Nations.
The Global Metro Summit in 2010, organized by Deutsche Bank’s Alfred Herrhausen Society, focused on stable and sustainable economic concepts for metropolitan regions. The conference expands the Urban Age network, first established in 2005, providing a forum for international experts to discuss the challenges facing the world’s mega cities.
Education: Enabling talent
Even today, it is not talent but social origin which, in many cases, determines a person’s educational advancement. Deutsche Bank is strongly committed to equality of opportunity and the fair promotion of talent. In 2010 we launched “FairTalent”, an initiative that provides targeted individual assistance to underprivileged, but highly talented children. Deutsche Bank employees also serve as mentors.
In order to intensify the exchange between the academic and the business world Deutsche Bank has established a chair of finance at Bocconi University in Milan and the Luxembourg School of Finance. Moreover, we facilitated a new professorship at the Goethe University Frankfurt’s House of Finance and significantly increased our financial support for the European School of Management and Technology in Berlin.
Social Investments: Creating opportunity
In 2010 Deutsche Bank successfully completed the Eye Fund, an innovative investment vehicle amounting to USD 14.5 million, which provides start-up financing for the expansion of eye care clinics in the world’s poorer regions. We support the renewal of infrastructure in economically deprived communities in the United States through loans and investments. For this work, the Federal Reserve Bank awarded us an “outstanding” rating for the 19th time.
The year was overshadowed by a number of natural catastrophes, among them earthquakes in Haiti and Chile and floods in Pakistan. Deutsche Bank, its foundations, clients and staff together contributed more than € 5 million to the people affected by these disasters. Wherever possible, our employees support relief action locally – fulfilling our claim of giving more than money.
Art and Music: Fostering creativity
The Deutsche Bank Collection in the newly renovated Head Office in Frankfurt am Main has been rejuvenated and made clearly more international. Around 1,500 artworks by 100 artists from more than 40 countries invite the viewer to embark on a journey through the contemporary global art scene. Our ongoing commitment to art in the workplace of more than 900 Deutsche Bank locations worldwide was honoured by the 2010 Art & Work award.
The work of the Kenyan-born and New York-based artist Wangechi Mutu, selected in 2010 to be our first “Artist of the Year”, was the subject of an exhibition at the Deutsche Guggenheim in Berlin. With this new award, we promote aspiring young artists from around the world.
Via an exclusive partnership, Deutsche Bank has enjoyed close links with the Berliner Philharmoniker for many years. In 2010, the orchestra toured Australia for the first time and realized a Zukunft@BPhil project there. Zukunft@BPhil aims to open up new and creative experiences for children and young people and introduce them to classical music through workshops and dance projects. More than 18,000 children and young people have participated in the program worldwide since 2002.
Corporate Volunteering: Committing ourselves
In the year under review, more than 17,000 of our employees supported over 3,000 community projects around the world. Deutsche Bank supports this personal commitment with either paid leave or donations to the charitable partners.
The “Partners in Leadership” program, in which Deutsche Bank senior managers advise school administrators on management issues, was the winner of the “European Employee Volunteering Award – Germany”. In the United Kingdom, the bank raised 1 million pounds for the AfriKids program as part of the “Charity of the Year 2010” initiative.