Deutsche Bank

The institution has a publicly available policy statement committing to respect ILO core labour rights and expects suppliers to do the same. Decision-making and oversight of its sustainability strategy is assigned to the highest governance body, with senior executive remuneration linked to sustainability targets, while implementation is delegated to specific functions or teams.

The institution discloses its membership in trade associations and transparently identifies key sectors, clients, and investees for climate engagement. Besides, it transparently identifies the nature-related impacts associated with its provision of products, services, and capital. It also engages in partnerships to influence and support sectors, clients, and investees to act on their nature-related impacts. Moreover, the institution monitors its Scope 1 and 3 emissions, along with emissions from associated financing activities (Scope 3, category 15).

The financial institution has an opportunity to disclose how it determines a living wage for the regions where it operates and to provide a publicly available policy statement indicating it does not make political contributions.

While the institution identifies and prioritises material sustainability impacts, it has the opportunity to disclose the objective criteria and evidence used in its materiality analysis. Although it has a time-bound strategy to phase out financial activities for specific fossil fuel projects, this strategy could be expanded to cover all fossil fuel projects. Additionally, while the institution has established time-bound and measurable targets for the provision of products, services, and capital for “green” solutions, specifying the share allocated to climate solutions would further improve transparency.

It is recommended that the institution disclose the breakdown of clients or beneficiaries by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Its risk assessment process should incorporate risks related to ILO fundamental rights at work for those affected by its products and services, with a mitigation process for identified risks. Furthermore, the institution could strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.