Net Zero Banking Operations
Our target by 2040: Reduction of CO₂e Emissions to Net Zero in Banking Operations according to our Implementation Plan
Sustainability and ESG are widely used terms. Sustainability describes a forward-looking perspective in which environmental, social and economic aspects are considered over the long term in order to preserve the foundations of life and business for future generations. In the corporate and financial sectors in particular, these aspects are commonly summarized under the term ESG (Environmental, Social and Governance). Sustainability is defined differently across regulatory, scientific, and economic contexts. Regulatory requirements, such as the EU Taxonomy or the EU Sustainable Finance Disclosure Regulation, provide a framework for individual sustainability aspects while leaving room for company-specific specification.
The specific meaning of sustainability for Commerzbank AG’s products, services, and business activities is set out in the ESG Framework. It defines the relevant criteria and distinguishes, in particular, between the Bank’s own business and external client investment and insurance business, including asset management and securities business (“third-party business”).
We are committed to reducing CO₂e emissions in our own banking operations to net zero by 2040. This commitment covers Scope 1 and 2 emissions at all Commerzbank AG locations worldwide. A reduction in Scope 1 and Scope 2 emissions (market-related) of 42% by 2030 and 90% by 2040 compared to the base year 2021 of ~35,000 tCO₂e is planned. This is in line with the emission reduction pathways defined by the Science Based Targets initiative (SBTi).
Commerzbank calculates its greenhouse gas emissions according to the standard developed by the Association for Environmental Management and Sustainability in Financial Institutions (VfU). This is based on international standards for environmental and climate reporting such as the Greenhouse Gas Protocol, CDP and the Global Reporting Initiative (GRI). Emissions are calculated in CO₂ equivalents (CO₂e).
Our commitment, CO₂e emissions of our Annual General Meeting and purchase of certificates
We have been calculating the emissions caused by the Annual General Meeting (AGM) since 2011. The AGM 2025 was held in person for the first time after five years. Its organisation caused greenhouse gas emissions totalling 30.44 tonnes. In order to take into account any inaccuracies in the available data, a safety margin of around 20% was taken into account and additional CO₂ certificates were purchased and retired accordingly.
The certificates used come from the Kuamut Rainforest Conservation Project, a public-private partnership that works to protect and restore 83,381 hectares of tropical rainforest in the Tongod and Kinabatangan districts of Sabah.
Handling of remaining CO₂e emissions in banking operations
Since 2009, Commerzbank AG has been pursuing the goal of continuously reducing and avaoiding greenhouse gas emissions in banking operations. Commerzbank has been acquiring and retireing certificates from projects that promote the avoidance and reduction or removal of CO₂e emissions for remaining, unavoidable CO₂e emissions. Defined quality criteria are taken into account when selecting the certificates, in particular the traceability of the underlying emission effect and independent verification according to defined standards. Measures to avoid and reduce emissions have priority.
Our Memberships & Initiatives
Initiative
, Science Based Targets Initiative (SBTi)Commerzbank joined the Science Based Targets Initiative (SBTi) in 2020 to support the achievement of its climate targets. "The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. .[..It] develops the standards, tools, and guidance which enable companies and financial institutions worldwide to take credible, science-based climate action."
Membership
, Foundation Development and Climate AllianceCommerzbank has been a member of the Foundation Development and Climate Alliance since 2018. "The Foundation Development and Climate Alliance is committed to bringing sustainable development and global climate protection together by means of voluntary offsetting. It developed from the eponymous initiative of the German Federal Ministry for Economic Cooperation and Development (BMZ). The Foundation sets out to mobilize additional funds for development cooperation."
Related Topics
- Our Sustainability Targets
Commerzbank sets itself ambitious goals in the areas of Environmental, Social and Governance (ESG)
- Portfolio Targets
Our Path to Net Zero in the Loan and Investment Portfolio by 2050
- Our sustainability reports
Commerzbank provides information on environmental, social and governance topics in various reporting formats.