The DZ Bank Group is a part of the Volksbanken Raiffeisenbanken cooperative financial network in which DZ Bank AG functions as the central institution for the 800 cooperative banks. It supports cooperative banks in their regions and strengthens their competitiveness. In 2021, DZ Bank Group reported EUR 627.27 billion in total assets and 32,271 employees.
DZ Bank links the remuneration of its executive team to sustainability performance criteria. The bank also identified and prioritised its impacts through a materiality assessment process which included feedback from external stakeholders. Regarding gender equality and diversity, DZ Bank discloses a target to increase the proportion of women at first-level management, second-level management, Board of Managing Directors, and Supervisory Board. Moreover, it discloses a list of trade associations of which it is a member including sustainability- and non-sustainability-related organisations.
As a member of Climate Action 100+, DZ Bank discloses that it collectively engages with its clients on the topic of climate change. In terms of climate solutions, the bank discloses that it aims to provide EUR 6 billion for renewable energy financing by 2022 and tracks progress against this target. Moreover, DZ Bank provides evidence that it collectively engages with companies to which it provides financial services on the topic of their nature- and biodiversity-related impacts.
DZ Bank has a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints or bribery and corruption concerns. Moreover, it takes steps to identify and address bribery and corruption. In terms of diversity, the bank discloses the proportion of its total direct operations workforce for each employee category by age group and gender. It also discloses the proportion of its total direct operations workforce covered by collective bargaining agreements.
While DZ Bank’s Supervisory Board considers sustainability themes in-depth, the financial institution could clarify whether the end responsibility for sustainability issues lies with this body. The bank could make a public commitment to gender equality and women’s empowerment. DZ Bank also has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees, across its financing activities.
There is no evidence that DZ Bank discloses a target to reach net-zero financed emissions by 2050. The bank has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. It could also align all its climate lending with internationally recognised frameworks. Moreover, DZ Bank could make a public commitment to minimising the negative impacts it has on nature and biodiversity.
There is no evidence that DZ Bank has a publicly available policy statement committing it to respect human rights laid out in the UN Guiding Principles and the ILO declaration on fundamental rights at work. It could also describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its investment activities. To provide transparency on financial inclusivity, DZ Bank has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.
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Net income: EUR 5.72 billion; Total assets: EUR 627.27 billion