DZ Bank Group

The institution has a publicly available policy statement committing to respect ILO core labour rights and expects suppliers to do the same. It describes its process for assessing human rights risks and identifies salient human rights issues. Bribery and corruption risks are identified through qualitative evidence. Lobbying expenditures are disclosed, and performance criteria for senior executive remuneration are linked to specific sustainability targets. Responsibility for implementing the sustainability strategy is assigned to various functions, teams, or committees. The institution discloses the monetary amount or share of its products, services, and capital linked to high-emitting and fossil fuel sectors, and transparently identifies key sectors, clients, and investees for climate engagement. Additionally, it discloses operational details by country, such as the number of employees or revenue.

The financial institution has the opportunity to disclose the methodology it uses to determine a living wage in the regions it operates within. The institution states that it refrains from making political contributions, yet it has not formalized this commitment in a public policy document. While the financial institution has identified material sustainability impacts, it could expand the scope of this assessment to its entire value chain. Additionally, it should further detail the process it follows, including how objective criteria and supportable evidence are considered for the identification and prioritization of these impacts. Even though it provides evidence of third-party assurance or verification, it remains unclear whether all the targets are fully covered. The financial institution could disclose a complete list of the trade associations it is a member of.

DZ BANK has achieved its target for the 2026 renewable energies portfolio. Now, it has the opportunity to set new time-bound and measurable targets at the group level for the provision of products, services, and capital aimed at mitigation-oriented climate solutions. It is also advisable that the financial institution discloses the breakdown of its clients and/or beneficiaries by income group. Regarding its risk assessment process, while it currently includes risks associated with some of the ILO fundamental rights at work for those affected by its products, services, and capital, it could extend this to cover the full set of rights.

Furthermore, it is recommended that the financial institution discloses that it has a process in place for identifying the social risks associated with its products, services, and capital in relation to the net zero transition. Finally, it is recommended that the financial institution provides an example of the specific conclusions it has reached and the actions it has taken or plans to take in response to at least one of its significant human rights issues, as a result of assessment processes in at least one of its activities in the last three years.

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.