Commerzbank joins the Climate Bonds Partner Programme
January 21 2020
- Financial markets play an important role in fight against climate change
- Climate Bonds Initiative contributes to credibility in global Green Bond markets
Commerzbank has joined the Climate Bonds Initiative Partnership Program, effective January 2020, marking a new step in the bank’s commitment to sustainability. The international NGO, in which more than 100 global partners from across the financial sector participate, aims to contribute to a CO2-efficient and climate-resilient economy via the global bond market.
Climate Bonds are a part of the Green Bond market. In order to issue a Climate Bond according to the definitions of the Climate Bonds Initiative, the issuer must demonstrate that the proceeds of the bond reduce climate-damaging CO2 emissions or increase the climate resilience of the economy. In 2019, Green Bonds were issued with a volume of more than 230 billion euros. Of these, ca. 80% were in line with the definitions of the Climate Bonds Initiative.
"The financial market plays a key role in the fight against climate change. The Climate Bonds Initiative makes an important contribution to securing the credibility, transparency and traceability of the sustainable bonds market," says Roman Schmidt, Head of Commerzbank's Capital Markets business. "Partnering with the Climate Bonds Initiative provides an opportunity for Commerzbank to cooperate at many levels with a leading international proponent of green finance activities.”
“We are delighted to welcome Commerzbank to our partners network. As an active participant in green finance and low carbon projects worldwide for many years, their market experience is widely acknowledged. Commerzbank’s deep understanding of the German Energiewende (energy transition) will help in transferring lessons learned into other areas still to undergo transition in the face of the escalating climate crisis “, says Manuel Adamini, Head of Investor Engagement at the Climate Bonds Initiative.
Commerzbank has a long history of expertise in the business of sustainable and green bonds. In 2007 Dresdner Bank, which was integrated into Commerzbank, lead managed the first ever Green Bond issue by the European Investment Bank (EIB). Commerzbank has been a signatory of the Green Bond Principles since 2014. These guidelines define a voluntary standard for the issuance process of green bonds and promote standardisation, integrity and transparency in the market for Green Bonds. In October 2018, Commerzbank launched its first own Green Bond. The issue volume was EUR 500 million. The five-year bond is used to refinance renewable energy projects.
Press contact Climate Bonds Initiative
Andrew Whiley +44 7506 270 943
Commerzbank is a leading international commercial bank with branches and offices in nearly 50 countries. The Bank’s two business segments – Private and Small Business Customers and Corporate Clients – offer a comprehensive portfolio of financial services precisely tailored to their customers’ needs. Commerzbank transacts approximately 30% of Germany's foreign trade and is the market leader in German corporate banking. The Bank offers its sector expertise to its corporate clients in Germany and abroad and is a leading provider of capital market products. Its subsidiaries, Comdirect in Germany and mBank in Poland, are two of the world’s most innovative online banks. With approximately 800 branches going forward, Commerzbank has one of the densest branch networks in Germany. The Bank serves more than 11 million private and small business customers nationwide and over 70,000 corporate clients, multinationals, financial service providers, and institutional clients worldwide. Its Polish subsidiary mBank S.A. has around 5.6 million private and corporate customers, predominantly in Poland, but also in the Czech Republic and Slovakia. In 2018 Commerzbank generated gross revenues of €8.6 billion with approximately 49,000 employees.
About the Climate Bonds Initiative
Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low carbon economy. Climate Bonds undertakes advocacy and outreach to inform and stimulate the market, provides policy models and government advice, market data and analysis, and administers an international Standard & Certification Scheme for best practice in green bonds issuance. For more information, please visit.
Climate Bonds Partners Program
Banks, institutional investors, private and non-governmental organizations (NGOs) and governments are eligible to join as Climate Bond Partners to help grow a market of green and climate bonds.
Partners support investor and stakeholder outreach and education projects centred on growing robust and¬¬¬ sustainable green bond markets that contribute to climate action and low carbon investment. Partners assist in developing initiatives to grow investment in climate finance solutions, participate in different market development committees and help define policy agendas for sector, country and sub-national green bond development programs.
A list of Partners is available .