Commerzbank is one of the Founding Signatories of the Principles for Responsible Banking. Hereby the bank emphasizes the high relevance of responsible banking for the company and is aware of the impacts of its own actions upon the society. The six Principles have been developed by the United Nations Environment Programme Financial Institutions (UNEP FI) in cooperation with 30 banks and should serve as framework to achieve the Sustainable Development Goals (SDGs) and the goals of the Paris Climate Agreement. Signing the Principles for Responsible Banking, Commerzbank commits itself to its responsibility to support companies in transforming their economic activities towards more sustainability.
The signatories of the Principles for Responsible Banking make the commitment to set and publish targets for all significant business areas. The Principles include the strategic as well as the operational level. Commerzbank strives for taking the interests of customers, employees and investors equally appropriate into account.
The six Principles for Responsible Banking are:
1. Alignment
We will align our business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement and relevant national and regional frameworks.
2. Impact & Target Setting
We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from our activities, products and services. To this end, we will set and publish targets where we can have the most significant impacts.
3. Clients & Customers
We will work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.
4. Stakeholders
We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society’s goals.
5. Governance & Culture
We will implement our commitment to these Principles through effective governance and a culture of responsible banking.
6. Transparency & Accountability
We will periodically review our individual and collective implementation of these Principles and be transparent about and accountable for our positive and negative impacts and our contribution to society’s goals.
Further Information
PRB Report
