Climate Neutral Annual General Meeting Climate Neutral Annual General Meeting

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Wald

The active participation in global social challenges such as climate change is an integral part of the corporate culture and values of Commerzbank. A practical example of our contribution to climate protection is the Annual General Meeting.

Our primary goal is minimizing our carbon footprint. Furthermore, it is part of our climate strategy to compensate for unavoidable emissions by purchasing environmental certificates to finance climate-friendly projects. This includes compensation for the emissions caused by the Annual General Meeting since 2011. Since then, the amount of greenhouse gases associated with the Annual General Meeting has been reduced gradually.

The 2022 Annual General Meeting was again held as a virtual event due to the Corona pandemic. The digital implementation caused greenhouse gas emissions of 12,8 tons. By way of comparison, the 2019 Annual General Meeting with physical attendance was responsible for 152 tons.

As in previous years, we compensate these CO2 emission by the acquisitions of CO2-certificates of the project portfolio "CliMates". The project promotes the development of climate-resilient mixed forests through reforestation and the promotion of natural rejuvenation in combination with sustainable forestry and harvesting methods in Germany and Peru. On the one hand, it invests in Re-Spire for the reforestation of the Westerwald, which has lost an estimated 90% of its spruce population in recent years due to storms, heat and the bark beetle and is thus to be revived and stabilized. On the other hand, the Brazil Nut Rainforest REDD+ Project supports a rainforest conservation project in Peru. This creates stable sources of income for communities through the economic development of 405 concession-holder families for brazil nuts and at the same time secures the habitat of 2400 endangered plant and animal species.

Photo: John Couwenberg

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