Procurement as a lever for sustainable development
Sustainable procurement: working together to drive sustainable transformation in the supply chain
Commerzbank actively influences the sustainable orientation of suppliers and service providers through its purchasing decisions. We expect suppliers not only to make efforts on their part to meet environmental and social standards, but also to extend this expectation to their downstream suppliers. Commerzbank's corporate responsibility does not end with internal processes but extends throughout the entire supply chain.
Sustainability in procurement at Commerzbank
With the Standard for Sustainable Procurement, Corporate Procurement defines binding guidelines for all process participants in order to comply with sustainability aspects when purchasing goods and services.
Commerzbank requires all suppliers and service providers to comply with laws and generally accepted standards. Specific requirements are formulated in Commerzbank's standard contracts.
The sustainability performance of the suppliers is an explicit award criterion in the award decision.
Sustainability is an integral part of Commerzbank's supplier management.
Climate-neutral supplier portfolio
Commerzbank has set itself the goal of having a climate-neutral supplier portfolio by 2040.
Standard for sustainable procurement
The Standard for Sustainable Procurement and the Code of Conduct define binding rules for ecological, social and ethical conduct in procurement. The ecological, social and governance (ESG) criteria specified in the standard reflect Commerzbank's corporate responsibility demands on its service providers and suppliers.
All procurement processes at Commerzbank 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 targets by selecting ecological products and environmentally conscious suppliers.