German Collective Commitment to Climate action German Collective Commitment to Climate action

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Joint measures and objectives to achieve the Paris climate goals

Commerzbank, together with 15 other actors in the German financial sector, signed a climate commitment at the end of June 2020. It commits itself to aligning its credit and investment portfolios in line with the objectives of the Paris climate agreement. In concrete terms, it is a question of financing the transformation toward a low-emission and climate-friendly economy and society with products, services and other commitments, thereby limiting global warming to well below 2 degrees and aiming for the 1,5-degree goal. The signatories see this not only as their social responsibility, but also as an economic necessity: By actively supporting the restructuring, the competition and resilience of the financed companies are strengthened and default risks for the banks are reduced.

The signing of the climate commitment means that by the end of 2022, each participant will implement mutually accepted methods for measuring the climate impact of its credit and investment portfolios and then manage them in accordance with national and international climate goals. The signatories will also report regularly on individual progress in implementation.

"Climate change is becoming more and more noticeable to us. Thawing permafrost floors, melting polar caps and the rising risk of forest fires are just a few examples of how threatening global warming is for our planet," says CEO Martin Zielke, explaining Commerzbank's commitment. "Together with other institutes, we want to support the economy in its transformation to more sustainability in the best possible way and thus make our contribution to a sustainable society."

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