Basis for cooperation
This also applies to the cooperation with suppliers, whom Commerzbank expects to act responsibly and businesslike. Our daily dealings with each other must be based on our shared values. Especially in the finance industry, it is vital that all business activities not only comply with all laws, regulations and internal rules but are also guided by ethical principles.
On the following pages, you will find more detailed information about compliance, sustainability and efficiency.
The standards include compliance with all laws, regulations and internal rules in all business activities and adherence to ethical principles. Commerzbank is emphatically committed to this and has based its procurement process on this compliance. Purchasing decisions are made independent of pressures and personal interests as the staff follow internal rules and involve the Corporate Procurement department in the procurement of resources. Commerzbank also expects its suppliers to act with integrity in all business processes. Irregular behaviour will not be tolerated and can lead to the business relationship being terminated. The integrity clause is therefore also a fundamental element of our supplier agreements. Commerzbank attaches particular priority to preventing and combating corruption. The compliance programme to combat corruption also involves all business partners active on behalf or in the name of the bank, and also applies to all supplier relationships. Commerzbank attaches particular attention to business relationships affected by sanctions or countries that are subject to sanctions.
The standard for sustainable procurement (PDF, 305 kB) and the code of conduct define binding rules for the ecological, social and ethical aspects that must be taken into account when purchasing goods and services. The ecological, social and governance criteria (ESG) specified in the standard reflect Commerzbank’s corporate responsibility demands on its service providers and suppliers. As a result, through its purchasing decisions Commerzbank also actively influences the sustainable orientation of these suppliers and service providers.
All Commerzbank's procurement processes are managed centrally by Corporate Procurement. This ensures that consistent sustainability standards are employed. In procurement projects, Commerzbank's Corporate Procurement department also contributes towards the achievement of the defined sustainability goals by selecting ecological products and environmentally conscious suppliers. The inquiry into sustainability-relevant information, such as existing ISO certifications and climate protection targets, is an integral part of Commerzbank's supplier management. Moreover, we inform our service providers and suppliers about the Bank's internal environmental guidelines.
ommerzbank expects its suppliers not only to make efforts to meet environmental and social standards, but also to send this expectation to their downstream suppliers. Commerzbank's corporate responsibility does not end with its internal processes, but extends throughout the entire supply chain.
From Commerzbank's perspective, efficient means:
- Well-established suppliers that are strong on innovation make important contributions to helping Commerzbank to meet the present and future requirements of its customers.
- Digitalisation is firmly established in the supplier's business and represents the basis for efficient processes, simplifying the communication and cooperation with Commerzbank.
- We expect professionalism and experience in collaborating with a multi-national Group from our suppliers.
