Commerzbank supports a number of initiatives with the common aim to send a strong signal to policy makers for a far-reaching and binding climate change agreement.
One of these initiatives is the Carbon Pricing Leadership Coalition (CPLC) of the World Bank. The objective of this union is the establishment of a price for CO2 emissions worldwide, according to the cost of the damage caused by greenhouse gases. Thus climate-friendly products and technologies are expected to become more attractive. Many governments, NGOs and businesses - including Commerzbank - have joined forces in this coalition. The German Government also joined the CPLC in May 2015.
In the run-up to the UN Climate Change Conference at the end of 2015, Commerzbank and other companies from many sectors of the German economy, supported by organizations from business and civil society, have issued a joint statement on the "Paris Agreement". In November 2016 Commerzbank, together with 40 other companies and associations, signed a follow-up statement regarding the German "Climate Protection Plan 2050". The signatories call on policy makers to give clear signals to implement the commitments made in Paris.
Commit to action is a platform of the non-governmental organisations CDP and „We mean Business“ to coordinate various climate change initiatives. Commerzbank participates in three of them:
Commit to procure 100% of electricity from renewable sources
"Re100" unites companies that promote 100 percent green electricity to stop the use of fossil fuels and associated emissions. In Germany Commerzbank uses 100 percent green power to run its businesses, worldwide 93 percent.
Commit to remove commodity-driven deforestation from all supply chains by 2020
As forests can absorb CO2, the third initiative calls for stopping the damaging of forest for agricultural production.
Commit to responsible corporate engagement in climate policy
In the context of the World Climate Conference in Paris Commerzbank jointly with other companies addresses policy makers to negotiate a worldwide binding climate agreement.
