Recognition of commitment to sustainability
Oekom Research awards Commerzbank prime status for the first time ever
February 8 2017
For the first time ever, Commerzbank has moved up into the highest quality segment in the latest assessment by Oekom Research, a ratings agency in the area of sustainable investments that has been established on the market for more than 20 years: Germany’s second-largest bank has been recognised for its commitment in the field of sustainability by being awarded prime status. The Bank’s ranking puts it among the world’s leading companies in the observance of ecological and social criteria in its corporate management.
“Being awarded a prime rating is confirmation that the Bank’s CSR policies are on the right path,” says Rüdiger Senft, Head of Corporate Responsibility at Commerzbank. “Prime status is a responsibility to consistently and continuously advocate that ecological and social principles are firmly anchored in our corporate management,” adds Senft.
One positive impact on success of Commerzbank’s prime rating was generated by the Bank’s position on coal, which came into effect in 2016. The Bank’s position on coal excludes the financing of new coal-fired power stations and coal-mining projects worldwide, and also the financing of mining operations with mountaintop removal. This position is indicative of the enhanced sustainability approach of the Bank in its core business.
Oekom Research also confirmed the high quality of Commerzbank’s coordinated and interdependent mea-sures, both in the field of operational environmental management and in the area of work/life balance.
Since September 2016, Commerzbank has been listed as the only German bank in the sustainability index STOXX® Global ESG Leaders. Therefore, in the estimation of STOXX®, it ranks among the leading group of 300 companies worldwide which stand out in comprehensive observance of environmental, social, and gov¬ernance criteria (ESG), in their entrepreneurial activities. Other sustainability indices in which the Bank is represented are “ECPI Ethical EMU Equity” and “ECPI Ethical Euro Equity”.
Information on the sustainability commitment of Commerzbank is to be found at www.sustainability.commerzbank.com.
Commerzbank is a leading international commercial bank with branches and offices in more than 50 countries. With the two business segments Private and Small Business Customers, as well as Corporate Clients, the Bank offers a comprehensive portfolio of financial services precisely tailored to its clients’ needs. Commerzbank finances more than 30% of Germany’s foreign trade and is the unchallenged market leader in financing for SMEs. The Commerzbank subsidiaries Comdirect in Germany and M Bank in Poland are two of the world’s most innovative online banks. With approximately 1,000 branches Commerzbank has one of the densest branch networks among German private banks. In total, Commerzbank boasts more than 16 million private customers, as well as 1 million business and corporate clients. The Bank, which was founded in 1870, is represented at all the world’s major stock exchanges. In 2015, it generated gross revenues of almost 9.8 billion euros with approximately 51,300 employees.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts. In this release, these statements concern inter alia the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of Commerzbank as well as expected future financial results, restructuring costs and other financial developments and information. These forward-looking statements are based on the management’s current plans, expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Such factors include the conditions in the financial markets in Germany, in Europe, in the USA and other regions from which Commerzbank derives a substantial portion of its revenues and in which Commerzbank holds a substantial portion of its assets, the development of asset prices and market volatility, especially due to the ongoing European debt crisis, potential defaults of borrowers or trading counterparties, the implementation of its strategic initiatives to improve its business model, particularly to reduce its ACR portfolio, the reliability of its risk management policies, procedures and methods, risks arising as a result of regulatory change and other risks. Forward-looking statements therefore speak only as of the date they are made. Commerzbank has no obligation to update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.