Governance structure
Sustainability holistically anchored in the organisation
Sustainability at Commerzbank
Growth and Transformation
, Sustainability in the corporate strategySustainability has been an integral part of our corporate strategy since 2020. Our refined “Momentum 2030” strategy, puts customers, investors and employees at the forefront and unites the shared interests of these three key stakeholder groups. The focus of this strategy upgrade is to maintain and strengthen the trust of stakeholders in Commerzbank. Key drivers for this are security, reliability, delivery, and responsibility. Responsibility, in this context, represents the entire sustainability spectrum of "Environmental, Social, and Governance (ESG)," which we fully integrate into our actions.
The transformation towards a sustainable economy affects our customers and us in equal measure. We want to play an active role in shaping this transformation. In this context, we see responsibility as a key guiding principle that underpins our holistic ESG approach. Our targets are to achieve the United Nations Sustainable Development Goals (SDGs) and the Paris climate goal of limiting global warming to well below 2 degrees Celsius. To this end, we are steadily expanding our range of innovative products and our solutions for customers.
Second, we are steadily driving forward the transformation of our banking operations. The main focus of our sustainability strategy is our commitment to combating climate change, to which our Net Zero targets contribute significantly. In addition, we are increasingly addressing issues that are moving into the focus of the sustainability debate, such as the protection of biodiversity.
Sustainability governance at Commerzbank
Commerzbank’s sustainability strategy is constantly reviewed and developed. We have established a comprehensive governance structure to ensure implementation and monitoring throughout the bank. This ensures that the issue is anchored holistically at all levels of the company.
ESG Committee of the Supervisory Board
The Supervisory Board also advises and monitors the Bord of Managing Directors regarding sustainability issues. To reflect the increasing importance of sustainability for the bank, the Supervisory Board established the Environment, Social and Governance (ESG) Committee in 2022.
Board of Managing Directors
The Board of Managing Directors develops the strategy for the Commerzbank Group, discusses it with the Supervisory Board and ensures its implementation. Sustainability issues are incorporated into the annual strategy process for the overall bank strategy and are discussed in Board of Managing Directors meetings as and when appropriate. Each member of the Board of Management is responsible for implementing sustainability measures in his or her own area of responsibility. The central sustainability management function reports to the Chairman of the Board of Managing Directors and regularly informs him about progress on sustainability issues and activities.
Group Sustainability Board
With the Group Sustainability Board, the cross-cutting issue of sustainability is firmly anchored in the bank's organisation. The board defines the bank's strategic sustainability goals and monitors the measures taken to implement and manage them.
Group Sustainability Management
With Group Sustainability Management as the overarching sustainability area within the strategy unit, Commerzbank underscores the strategic priority of the topic. The unit is responsible for the ongoing development of the sustainability strategy and comprehensive governance. At the same time, Group Sustainability Management manages the “Sustainability 360°” group-wide program and thereby coordinates the sustainability work of Commerzbank in an overarching way.
Sustainability 360°
The overarching Group programme "Sustainability 360°" serves to implement our sustainability strategy. The customer divisions, Risk Management and numerous other relevant Group divisions are involved in this programme. It provides a framework for all sustainability activities and ensures a close link between cross cutting issues, a coordinated approach and rigorous tracking
Sustainability Advisory Board
In 2022, to ensure this key dialogue with our stakeholders, we established an external Sustainability Advisory Board under the patronage of the Chairwoman of the Board of Managing Directors. It provides impetus for the further development of our sustainability strategy and is made up of representatives from business, science, society, politics and non-profit organisations such as non-governmental organisations, foundations and associ ations.
