What role does Deutsche Bank play here?
Dr. Gerald Podobnik: Sustainable financing is deeply rooted in our organisation. But that’s not enough for us. That is why we communicated clear and measurable goals. The Bank has reached a cumulative volume of sustainable financing and portfolio of ESG (environmental, social, governance) investments under management of over EUR 200 billion since January 2020 until the end of 2022. To demonstrate our commitment, we set ourselves a new target to achieve cumulative EUR 500 billion in sustainable financing by the end of 2025. Furthermore, Deutsche Bank has announced ‘net zero’ aligned targets for financed CO2 emissions in four carbon-intensive sectors. The four sectors to reach ’net zero’ emissions by 2050 in line with the Paris Agreement on climate change are oil & gas, power generation, automotive and steel. These are just two examples of what we do as a bank.
We develop appropriate products for our clients – products that offer our clients an incentive. That’s important to us. To give an example, if a customer needs a loan, we can offer them the option of linking the loan to specific ESG targets. If the agreed targets are achieved, the interest rate on the loan is a few basis points lower. It’s really a win-win situation – especially for the client.