SUSTAINABILITY IN THE DZ BANK GROUP
General information and reports
Milestones in our sustainability management
DZ BANK was an early advocate of sustainability. Important milestones were:
- the signing of voluntary commitments such as the UN Global Compact (2008), the Equator Principles (2013), and the Principles for Responsible Banking (2020)
- the introduction of sustainability assessment procedures in lending (2009), as well as the development of specific sector principles (2011) and the introduction of exclusion criteria (2014)
- achieving ISS ESG (formerly ISS-Oekom) Prime Status in 2011 for the first time, and maintaining our status ever since.
The issuance of DZ BANK's first Green Bond in 2018 was another significant step for DZ BANK. As a member of the Climate Bonds Initiative and the International Capital Markets Association, DZ BANK stands firm for transparency and disclosure in green bonds as well as compliance with specific sustainability loan principles. In 2019, DZ BANK played a leading role in a total of 16 Green, Social and Sustainability Bond issuances. The volume of supported transactions exceeded €10 billion, making DZ BANK one of the leading market players among the top three German syndicate banks when it comes to issuing sustainable bonds.
In the area of renewable energies, DZ BANK is one of the largest financiers with a financing volume of around €5.4 billion (2019), and is also known as the largest provider of sustainable development loans with a portfolio of €25 billion (2019) in Germany.
Group Corporate Responsibility Committee
In order to intensify the dialogue on sustainability in the DZ BANK Group, we brought the Group's sustainability activities together and established the Group Corporate Responsibility Committee (CRC) in 2014.
The committee consists of the sustainability coordinators of each of DZ BANK Group's subsidiary companies. They provide input for different departments so that common standards can be developed. The aim of the CRC is to exploit market opportunities and avoid risks while enhancing corporate social responsibility. In this sense, the CRC works closely together on issues relating to environmental management, sustainability in the supply chain and in core business activities, as well as coordinating reporting activities. DZ BANK Group's commitment to climate change was substantiated by the Group-wide climate strategy signed in 2018.
In the reporting year 2019, DZ BANK conducted the ‘Advancing Sustainability’ project. The project focused on three subject areas: external requirements, opportunities and risks, and governance. An analysis was conducted to assess the requirements of stakeholders such as regulatory authorities, investors, owners, and rating agencies and to determine the status quo; recommendations for action were derived from the findings and adopted by the Board of Managing Directors in January 2020. The affected divisions have to implement various different measures. In addition, it has been decided that sustainability should be incorporated into the business strategy and the strategic planning process. DZ BANK intends to further expand its role as a coordinator within the DZ BANK Group in order to achieve even greater consistency and integration across the sustainability strategies and methods of the group entities.