Net Zero Banking Operations
Our goal by 2040: Net zero CO₂e emissions in banking operations and a climate neutral supplier portfolio
Our path to the Net Zero goal
Commerzbank AG has set the goal of reducing its operational emissions to net zero by 20401. This applies to all domestic and international locations. Unavoidable CO2e emissions will be offset through certificates from CO2e reduction projects. Renewable energy plays a central role in our energy supply. A GHG reduction target for banking operations has been established for Commerzbank AG and selected subsidiaries in alignment with the Science Based Targets Initiative (SBTi). It aims for a 42% reduction in Scope 1 and Scope 2 GHG emissions by 2030 compared to the baseline year 2021. This target has been validated by the SBTi as scientifically sound and consistent with the Paris Climate Goals. Our targets relate to CO2e, which includes CO2 as well as other relevant greenhouse gases, ensuring consistency with our CO2e accounting.
The most important information at a glance, Climate neutrality and CO₂ certificates
Our commitment, Climate-neutral Annual General Meeting
Our primary goal is minimising our carbon footprint. Furthermore, it is part of our climate strategy to compensate our unavoidable emissions by purchasing environmental certificates to finance climate-friendly projects. This includes compensation for the emissions caused by the Annual General Meeting (AGM) since 2011. The Bank was able to reduce the amount of greenhouse gases associated with the AGM annually until introducing the virtual AGM.
The AGM 2025 was held in person for the first time after five years. Its organisation caused greenhouse gas emissions totalling 30.44 tonnes. To account for possible inaccuracies in the available data, we are offsetting approximately 20% more than our calculated consumption.
We compensate for unavoidable emissions with certificates from a climate protection project: The Kuamut Rainforest Conservation Project (Kuamut Project) is a public-private partnership that is working to protect and restore 83,381 ha of tropical rainforest in Tongod and Kinabatangan district, Sabah.
CO₂e compensation
Commerzbank AG's banking operations in Germany have already been climate-neutral since the beginning of 2015. We offset remaining greenhouse gas emissions by purchasing and retiring high-quality CO₂ certificates. In offsetting, the integrity of the emission reduction projects and the certificates generated from them is essential. Only then is appropriate CO₂e compensation created.
Our memberships & climate protection initiatives
Membership
, Foundation Development and Climate AllianceCommerzbank has been a member of the Foundation Development and Climate Alliance since 2018. The members' goal is to achieve climate neutrality. They achieve this by reducing emissions and offsetting unavoidable emissions. By purchasing CO₂ certificates for offsetting, members invest in developing and emerging countries.
Related Topics
Commerzbank sets itself ambitious goals in the areas of environmental, social and governance
Commerzbank provides regular and comprehensive information on its progress in the sustainable orientation of the bank. For this purpose, we use various reporting formats.
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Net zero: The state in which an organisation no longer has any net greenhouse gas emissions after all technically and scientifically possible efforts, whereby unavoidable emissions are offset exclusively by carbon removal measures (see "Net-Zero Guidelines" of the ISO, UN Climate Change Conference 2022). Net-Zero is not synonymous with climate neutrality.