ESG Case Study: Deutsche Bank AG London
Deutsche Bank AG London
Summary
Deutsche Bank AG London Overview
Deutsche Bank AG London, a global financial service provider, began working with Rise in 2021 with a strong list of ESG goals. Since then it has fulfilled its aims and developed an impressive ESG reporting strategy that has made an impact both for its valued employees and the planet.
This case study highlights Deutsche Bank’s ESG initiatives in Environmental Efforts, Social Impact and Governance. Let’s start with the result!
Achievements and Impacts
- Accurate and tracking and emissions data can reduce overall carbon footprint
- Enhanced transparency and regular reporting has increased stakeholder trust
- Effective campaigns have built relationships with NGOs and community groups
- Bespoke social impact programmes have delivered measurable impacts
Rise IQ Recommendations: Aims, Actions & Impacts
Rise IQ’s strategic insights and practical solutions helped the bank to overcome several current challenges, achieve its sustainability goals, and exceed stakeholder expectations.
Enhanced Scope 3 Emissions Tracking
Aim: To identify Scope 3 emissions, especially those associated with supply chain activities.
Action: Rise IQ collaborated closely with suppliers to gather and report emissions data.
Impact: Developed more detailed and accurate tracking of Scope 3 emissions. Understanding and management of indirect emissions can significantly reduce the bank’s overall carbon footprint and improve ESG ratings.
Increased Transparency and Reporting
Aim: To ensure stakeholders receive clear and detailed insights into the bank’s environmental and social impacts, with regular reports on progress towards sustainability goals.
Action: Rise IQ helped to guide Deutsche Bank in how to increase the frequency and depth of their ESG disclosures and improve their knowledge of best practices.
Impact: Enhanced transparency built trust with stakeholders and demonstrated a strong commitment to sustainability.
Broader Stakeholder Engagement
Aim: Expand engagement efforts to include a wider range of stakeholders, such as community groups, NGOs, and customers. This can help identify new ESG risks and opportunities and ensure a more comprehensive approach to sustainability.
Action: Rise IQ helped to build trust with stakeholders, demonstrating Deutsche Bank’s strong commitment to sustainability. This included creating detailed progress reports and interactive dashboards to visualise ESG performance.
Impact: Improved stakeholder engagement leading to more informed decision-making and stronger community relations.
Strengthening Social Impact Programs
Aim: To identify impactful initiatives and forming collaborations with social enterprises and non-profits.
Action: Rise IQ’s experience in social entrepreneurship was invaluable. Lena used her expertise to design targeted and effective programmes that addressed social inequalities and amplified impact.
Impact: Implementing bespoke social impact programs effectively has ensured that they align with Deutsche Bank’s broader ESG strategy and deliver measurable social impact.
Further Strategic Recommendations
Addressing ESG can feel like a seismic move, but once established the positive results speak for themselves. After working closely with Deutsche Bank AG London, Rise IQ recommended additional areas for improvement that would further improve their ESG. These are ongoing.
Environmental Sustainability
- Carbon Neutrality: Deutsche Bank has been carbon-neutral in its operations and business travel since 2012. This is achieved through energy consumption reduction, less travel, increased renewable electricity usage and offsetting remaining emissions.
- Sustainable Finance Framework: The bank has implemented a Sustainable Finance Framework. This helps to classify financial products and transactions as sustainable, and incorporates rigorous environmental and social criteria.
- Decarbonisation Goals: Deutsche Bank aims to facilitate €500 billion in sustainable financing by 2025 and has committed to exiting financing for thermal coal mining by 2025. They have also set appropriate and achievable Net-Zero targets for their corporate loan book by 2030 and 2050 respectively.
Social Impact
- Corporate Social Responsibility (CSR): Deutsche Bank’s CSR initiatives focus on education, enterprise, and community engagement, encouraging employees to contribute through professional expertise and volunteer activities.
- Diversity and Inclusion: The bank aims to increase female leadership to 35% by 2025, and promotes a culture where employees feel welcomed and respected.
Governance Practices
- Sustainability Governance: A Group Sustainability Committee has been put in place to oversee the bank’s sustainability activities. In 2022, they appointed a Chief Sustainability Officer to further enhance these efforts.
- Risk Management: Systematic evaluation of environmental and social risks is now part of Deutsche Bank’s risk management process, ensuring that business activities align correctly with their sustainability goals.
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