Climate Neutral Annual General Meeting Climate Neutral Annual General Meeting

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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 2020 Annual General Meeting was held as a virtual event due to the Corona pandemic. The digital implementation caused greenhouse gas emissions of 3.34 tons, of which almost half was caused by streaming participants. 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 "CO2OL CliMates - Mecklenburg-Vorpommern meets Indonesia". It is a combination of the moor rewetting project MoorFutures in the German federal province of Mecklenburg-Vorpommern and a forest protection project in Indonesia. The central Kalimantan biodiversity hotspot is home to an estimated 5-10 percent of the remaining populations of Bornean Orangutans, Southern Bornean Gibbons and Proboscis Monkeys. Protecting this vital habitat helps to conserve many endangered species. All project staff are Indonesian and 80 percent are members of the local community.

Photo: John Couwenberg

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