Handling of CO₂e emissions in banking operations

As part of our net-zero trajectory,

For Commerzbank, climate protection is an important aspect of its corporate responsibility. On the one hand, this is reflected in our core business through our net zero strategy and the exclusion of certain businesses, such as the financing of fossil fuels. On the other hand, however, it is also in our efforts to continuously reduce greenhouse gas emissions caused by banking operations.

Since 2009, greenhouse gas emissions in banking operations have been systematically calculated and steered. To achieve the net-zero target in banking operations by 2040, Commerzbank is pursuing a structured reduction path described in the Climate Transition Plan. Measures to avoid and reduce emissions take priority over the purchase of certificates.

Reduction of CO₂e emissions and management of remaining emissions in banking operations

In its banking operations, Commerzbank pursues the goal of continuously reducing greenhouse gas emissions. The principle is: avoidance and reduction have priority. For remaining, unavoidable greenhouse gas emissions from banking operations, in particular Scope 1 emissions (direct emissions from the bank's own sources), Scope 2 emissions (indirect emissions from purchased energy) and selected Scope 3 emissions (other indirect emissions along the value chain), Commerzbank also acquires CO₂ certificates and retires them. It is based on Commerzbank AG's calculated and externally verified annual greenhouse gas emissions.

Until 2020, this procerdure applied to the german locations, but since 2021 the foreign branches have also been included. The purchase of the CO₂ certificates in the amount of the expected greenhouse gas emissions will take place in the course of the year and will be completed after the verified CO₂e emission data are available.

Supported projects

Overview of past projects

  • Projects 2025
  • Projects 2024
  • Projects 2023
  • Projects 2022
  • Projects 2021
  • Projects 2020
  • Projects 2019
  • Projects 2018
  • Projects 2017
  • Projects 2016
  • Projects 2015

Project selection criteria

The certificates are selected on the basis of defined criteria. These relate to the quality of the certificates, the underlying technologies and the countries in which the projects from which the certificates originate are implemented.

Certificate quality

Defined minimum requirements apply to the certificates used.

  • It must be ensured that the greenhouse gas reductions occur additionally and would not have been realised anyway. ("Additionality")
  • It must be ensured that the greenhouse gas reductions have actually occurred or will occur in the future.
  • Proof of the (calculated) extent of the greenhouse gas reductions requires validation, verification, or certification by independent third parties.

To ensure this, CO₂ certificates are used, which are generated in accordance with voluntary mechanisms. In addition, the certificates should have a maximum age of 5 years at the time of purchase and will only be taken into account if they comply with the internal testing guideline.

Project technologies

Commerzbank pursues a diversified portfolio approach, i.e. the project activities used come from both project activities with the aim of future CO₂ avoidance and CO₂ sequestration (removal). Removal projects include activities for the long-term capture and storage of CO₂ with the help of both nature-based (e.g. reforestation) and technological (e.g. direct air capture) project activities. The proportion of removal certificates is to be continuously increased.

Project countries

Industrialised nations are the main causes of climate change. However, the consequences of climate change hit developing countries first and hardest. Therefore, the focus for the selection of the location of the projects is on countries of the Global South. In this way, financial resources are redirected and measures using the described technologies (see 2.) for CO₂ reduction are made possible. At the same time, it is ensured that the projects support as many other Sustainable Development Goals (SDGs) as possible beyond “climate protection measures".

Our memberships and 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 Alliance

Commerzbank 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."