Deutsche Bank

Annual Report 2016

Corporate Responsibility

Deutsche Bank’s approach to corporate responsibility (CR) focuses on the three dimensions of sustainability to create economic, environmental and social value. It aims to set the direction for a future-orientated business strategy that balances economic success with environmental and social responsibility.

The Bank seeks to promote sustainable business, to increase transparency, and to avoid negative environmental and social impacts from its core businesses. In addition the Bank strives to manage its business operations sustainably, and embraces its responsibilities as a corporate citizen.

The Bank’s understanding of responsibility is aligned with its Code of Business Conduct and Ethics and is reflected in its procedures, policies and processes. It is underpinned by the formal commitment to international standards and principles such as the ten Principles of the UN Global Compact.

Please visit Deutsche Bank’s online “Corporate Responsibility Report” on cr-report.db.com/16 and db.com/society for more information on:

  • Environmental and social risks: Deutsche Bank’s approach to managing environmental and social (ES) risk is based on a policy framework, which forms part of our global Reputational Risk Framework. The Environmental and Social Policy Framework specifies the requirements for ES due diligence, and the criteria for mandatory referral to the Bank’s sustainability function. The number of clients and transactions reviewed under this framework by the Bank’s sustainability team decreased in 2016 to 727 (December 31, 2015: 1,346), as a result of revised and strengthened escalation criteria, and improved the Bank’s roll out of the Framework via training. In addition, the Bank continued to endorse its Statement on Human Rights in line with the UN Guiding Principles on Business and Human Rights. In 2016, the focus was on raising awareness and broadening understanding around the relevance of human rights issues across the organization, and the implementation of the UK Modern Slavery Act.
  • ESG factors in Asset Management: At the end of 2016, Deutsche Asset Management (Deutsche AM) managed assets of approximately € 10 billion invested on the basis of ESG criteria (December 31, 2015: € 7.7 billion). In 2016, Deutsche AM developed a Responsible Investment Statement. It outlines Deutsche AM’s position regarding ESG issues, the international principles that inform its approach, and how ESG factors are integrated into business and investment activities.
  • Tackling climate change: In 2016, Deutsche Bank revised its approach to financing coal mining and power, and amended its formal position and internal guidelines, to be effective from December 2016. The Bank and its subsidiaries will not grant new financing for greenfield thermal coal mining and new coal-fired power plant construction. Moreover, the Bank will gradually reduce its existing exposure to the thermal coal mining sector. Furthermore, Deutsche Bank arranged € 3.9 billion in project finance for renewable energy generation of more than 3,480 megawatts. Deutsche Bank was the first commercial bank globally to become accredited to act as implementing entity for the UN Green Climate Fund. In 2016, the Fund approved an investment of about € 74.4 million in the Green Energy Access Program, a new Deutsche AM fund for renewable energy access in Africa. The investment will contribute to the Sustainable Development Goals.
  • Carbon neutral operations: Deutsche Bank continued to operate on a carbon neutral basis in 2016 by investing in energy efficiency projects, using renewable electricity, and offsetting unavoidable emissions by purchasing and retiring high-grade offset certificates.
  • Corporate Citizenship: Deutsche Bank’s corporate citizenship strategy is to support drivers of prosperity for individuals, communities and economies. Under the Born to Be-umbrella, the Bank supports education projects that prepare young people to become the workforce of tomorrow. With its Made for Good program, the Bank assists enterprises that help drive positive change in society to get off the ground and reach their next level. In the communities where Deutsche Bank does business, it helps them to get stronger and more inclusive, empowers the disadvantaged and contributes to the revitalization of distressed areas. It works with like-minded partners from public and private sectors and with the commitment of its workforce. In addition, the Bank’s Plus You volunteering and giving portfolio encourages its people to contribute to causes they care about. Public advocacy further strengthens the impact of the Bank’s corporate citizenship programs. With a total investment of € 73.5 million in 2016 (December 31, 2015: € 76.8 million), Deutsche Bank and its foundations continue to be among the world’s most active corporate citizens. Almost 4.9 million (December 31, 2015: 4.7 million) people benefited from their initiatives, the reach of the Bank’s Born to Be youth engagement program increased to 1.35 million people (December 31, 2015: 1.3 million). More than 9,800 social enterprises benefitted from Made for Good offers in 2016. 16,651 colleagues, 20 % of global staff, (December 31, 2015: 17,382; 22 % of global staff) volunteered almost 188,000 hours of their time, skills, and expertise.