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.
Commerzbank is actively committed to a sustainable business orientation, which includes the responsible use of nature, the environment, and resources. Since 2009, we have had a certified environmental management system in accordance with the international ISO 14001 standard. To comply with the German Energy Services Act, we additionally introduced an energy management system according to ISO 50001 in 2015 and have continued it as an integrated environmental and energy management system (iUEMS). Its foundation is the Commerzbank’s environmental and energy policy, which is anchored in the environmental guidelines.
Sustainability is also firmly embedded in our cooperation with the Bank’s service providers and suppliers.
The standard for sustainable procurement 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.
As Global Functional Lead, Corporate Procurement establishes group wide, binding standards for the procurement of products, in compliance with economic efficiency, sustainability, quality and risk aspects in the Commerzbank Group. The inquiry of sustainability relevant aspects—such as existing ISO certifications and climate protection targets—is an integral part of Commerzbank’s supplier management. In addition, we inform our service providers and suppliers about the Bank’s internal environmental guidelines.
Commerzbank expects its suppliers not only to undertake efforts to meet environmental and social standards themselves, but also to pass these expectations on to their downstream suppliers. Commerzbank's corporate responsibility does not end with internal processes; it extends across 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.
