“Climate Neutral Now” is an initiative launched by the UN Climate Change in 2015, aiming at encouraging and supporting all levels of society to take climate action to achieve a climate neutral world by mid-century, as enshrined in the Paris Agreement.
The initiative invites companies, organizations, governments and citizens to work towards climate neutrality by compensating their climate footprint in three steps:
- Measure their greenhouse gas emissions
- Reduce them as much as possible and
- Compensate those which cannot be avoided by using UN certified emission reductions (CERs)
These units are generated by climate-friendly development projects vetted by the United Nations Framework Convention on Climate Change (UNFCCC). The purchase of the units to compensate one's unavoidable emissions supports climate-friendly projects in developing countries and thus a local, sustainable development and the achievement of the UN Sustainable Development Goals.
Commerzbank AG in Germany has worked its banking operations in a climate neutral manner since 2015 and compensates its unavoidable emissions with CERs from projects related to renewable energies and energy efficiency. Since 2021, it has been possible to extend this to the entire Commerzbank AG. With our pledge to Climate Neutral Now in 2019 we have further strengthened our engagement for climate action.
