Biodiversity
Sustainability is more than climate protection! Commerzbank is committed to the sustainable use and protection of global biodiversity.
What does biodiversity mean?
Striving for ecological sustainability must not focus exclusively on emissions reductions and thus climate protection. Preserving our environment in the form of biodiversity is also indispensable on the path to a secure future.
Biodiversity comprises the totality of all organisms, ecosystems and the biological processes operating within them.
This means that biodiversity makes the earth habitable, provides us with food, for example, and serves as the basis for medicine - in other words, biodiversity is our livelihood.
The issue of biodiversity is gaining in importance. An important milestone was reached at COP 15, the World Nature Conference of the International Convention on Biological Diversity (CBD). According to the German Environment Ministry, the "Global Biodiversity Framework" adopted here heralds a turnaround. It also emphasizes the role of the financial sector in biodiversity conservation and calls on its stakeholders to act. At the national level, implementation takes place through the National Biodiversity Strategy (German only).
How does Commerzbank take biodiversity into account in its banking business?
Nature and Climate Report
Beginning with the reporting year of 2024, we are publishing a comprehensive Nature and Climate Report for the first time, in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and the Taskforce on Nature-related Financial Disclosures (TNFD). It is structured around the topics of governance, strategy, risk management, and metrics and targets, and it provides a detailed account of how we manage climate and nature-related risks and opportunities.
Biodiversity Risks
Commerzbank conducts a comprehensive materiality analysis for biodiversity risks annually since 2022. The analysis is carried out using the tools "ENCORE" and the WWF Biodiversity Risk Filter. These tools make it possible to link economic activities and impacts that are harmful to biodiversity on a scientific basis. To do this, we compared the business volume of the sectors we finance with the tool's external data and then weighted them. We have identified potential fields of action and strategic focus areas and will develop further analyses and measures to protect biodiversity. Additionally, the results are incorporated into the development of our business and risk strategy.
Another major step was the establishment of a new department in 2023 to manage climate and environmental risks.
Positions
Deep Sea Mining
Mining and the extraction of raw materials are of central importance to numerous industries and global value chains, yet they often entail significant environmental and social risks and can place considerable strain on sensitive ecosystems and affected communities. In addition to land-based mining activities, deep-sea mining is currently emerging as a distinct sector and could impact particularly fragile marine habitats that remain largely unexplored. The potential consequences are not yet fully foreseeable. To mitigate possible negative impacts, Commerzbank does not participate in financing for deep-sea mining projects and does not enter into business relationships with companies that are solely engaged in deep-sea mining for the time being.
Deforestation
The destruction of tropical rainforests continues unabated. Much of this deforestation is due to the cultivation of agricultural commodities such as palm oil and soy. This leads to a loss of biodiversity and threatens valuable ecosystems. Therefore, Commerzbank does not enter into business relationships with forest, paper, or pulp companies that own forests and operate in high-risk areas unless they hold a forest management certification
from the Forest Stewardship Council (FSC) or the Programme for the Endorsement of Forest Certification Schemes (PEFC). Additionally, all corporate clients in the areas of soy, palm oil, and beef in regions with a high risk of deforestation must demonstrate their commitment to combating deforestation through relevant memberships such as RSPO or GRSB or certifications like RTRS or RSPO.
„Only those who benefit the climate and nature should be future winners.“
Member of the Commerzbank Sustainability Advisory Board (2022-24)
Our Initiatives
Initiative
, Taskforce on Nature-relatedFinancial Disclosures (TNFD)
Biodiversity affects the financial sector at various levels. This creates numerous natural opportunities and risks for our credit portfolio. To analyse and transparently report on these, we have been supporting the TNFD since April 2023. We published our first TNFD report in the non-financial statement 2023. For the 2024 reporting year, we have published our first independent nature and climate report in accordance with the TNFD and TCFD standards.
In June 2021, TNFD was established with broad support from financial institutions, businesses, governments and the service community. In total, more than 1,000 organizations already support TNFD. These organizations share the vision and mission of TNFD and are willing to contribute to the work and mission of the Task Force.
Initiative
, Biodiversity in Good Company (BiGC)In the "Biodiversity in Good Company" (BiGCI) initiative, companies of all sizes have joined forces to advocate for the conservation and sustainable use of biodiversity, together with policymakers and society. We were the first bank to join the initiative in March 2022, thus joining other companies in supporting the sustainable use and protection of global biodiversity
Sponsoring
, Environmental InternshipThe Commerzbank Environmental Internship was created as early as 1990 as a joint project with German national parks and biosphere reserves. It offers students the unique opportunity to experience nature intensively and at the same time acquire important skills for their future career choice. Commerzbank finances and organises the environmental internship together with the umbrella organisation of National Natural Landscapes. Environmental interns are primarily employed in environmental education and public relations work in order to inspire young people in particular for nature conservation and the importance of biodiversity in the protected areas.
Cooperation
, BergwaldprojektThe cooperation between Commerzbank and Bergwaldprojekt e. V. started in October 2018, with Commerzbank reforesting one square metre of forest in Germany for every new electronic mailbox in online banking system. The cooperation has since been continued with various initiatives. In total, more than 1.1 million square metres of public forest areas have been developed or reforested in a near-natural way. This has made an effective contribution to the preservation of forests and their diverse range of ecological functions. The current initiative "Creating life values" supports the renaturalisation of moorlands.