Commerzbank sets Net Zero target Commerzbank sets Net Zero target

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Commerzbank is part of the the Net-Zero Banking Alliance of UNEP FI, the United Nations Environment Programme Finance Initiative. As one of the first financial institutions worldwide, Commerzbank is committed to reducing its CO2 emissions in the best possible way. The aim is to reduce the CO2 balance sheet of its entire lending and investment portfolio to net zero by 2050 at the latest. For its own banking operations, the Bank aims to reduce CO2 emissions to zero by 2040. By voluntarily committing to net zero, the Bank underlines its decisiveness to actively contribute to the sustainable transformation of society and the economy.

In 2019, Commerzbank singed the Principles for Responsible Banking initiated by UNEP FI and committed itself to support the real economy in its transformation. With its commitment to net zero, the Bank is taking an important and consistent step forward. Commerzbank’s CO2 emissions have already been reduced by more than 70% since 2007and its own banking operations have been climate neutral since 2015.

The net zero commitment demands comprehensible actions with which Commerzbank proves support for its clients’ efforts to reduce their greenhouse gas emissions. Firstly the focus is laid on CO2 intensive sectors. The Bank will regularly report on its progress in accordance with UNEP FI guidelines. In managing its portfolio, Commerzbank will use the scientific approach of the Science-Based Targets Initiative, which it joined as the first German Bank in 2020.

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Net-Zero Banking Alliance

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