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Initial Transition Plan
Status quo and the way forward
Jörg Eigendorf
Chief Sustainability Officer
Our initial Transition Plan sets out what clients and the public can expect from us as we scope out our role in decarbonizing the economy. As the economy progresses toward net-zero, regulations, reporting standards, and the role of the banking industry will evolve. This will allow us to continuously refine our own Transition Plan.
More Our strategic goals
We strive to support our clients in accelerating their transition toward sustainability and net zero. Our advice, our products, and our solutions shall all be built on this commitment.
We are convinced that it is imperative for a global bank headquartered in Europe to position itself as a sustainability leader if it is to have lasting success in serving its clients. Decoupling economic growth from CO2 emissions and the extensive use of natural resources will be decisive as our planet’s ecosystem comes close to tipping points.
More Our sustainability journey
Since becoming a founding member of the Net Zero Banking Alliance (NZBA) in the spring of 2021, Deutsche Bank has made significant progress toward achieving net zero by 2050.
More Our approach toward net zero
Our comprehensive approach toward net zero covers carbon emissions from the bank’s own operations, the bank’s supply chain, and financed emissions arising from the bank’s business with clients.
More Our own operations and supply chain emissions
To be a credible partner for our clients’ transition to net zero, we aim to lead by example. We have set 2030 goals for decarbonizing our own operations and actively managing carbon emissions across our supply chain.
More Our financed emissions
To support the real economy’s net-zero transition and to decarbonize our corporate loan portfolio of €101 billion, we have set decarbonization targets for 2030 and 2050 in the seven most carbon-intensive sectors. As of year-end 2023, 54% of the total financed emissions of the corporate loan portfolio are covered by net zero pathways.
Our approach to integrating nature-related risks and opportunities
Nature and climate-driven considerations are closely interlinked, and nature-based solutions will require significant investments. Therefore, Deutsche Bank set up a Nature Advisory Panel with independent thought leaders. The panel will advise on strategies to meet our clients’ increasing demand for nature financing and associated processes and controls.
Read more in our report
Show content of Disclaimer
The transition to a sustainable economy is a long-term undertaking. In its current stage, we are confronted with the limited availability of climate related data. Use of estimates and models is inevitable until improved data becomes available. Our expectations for increasing data quality are based on reporting obligations as currently developed. New regulations on reporting will likely become effective in the coming years. Harmonized standards and calculation methods are expected to be developed and will also improve data quality.
The sustainability targets on this website includes metrics that are subject to measurement uncertainties resulting from limitations inherent in the underlying data and methods used for determining such metrics. The selection of different, but acceptable measurement techniques can result in materially different measurements. The precision of different measurement techniques may also vary. The information set forth herein is expressed as of end of October 2023, and we reserve the right to update its measurement techniques and methodologies in the future.
We have measured the carbon footprint of our corporate loan portfolio in accordance with the standards we discuss in our report on corporate loan portfolio financed emissions and net-zero-aligned pathways for focus sectors (Towards net-zero emissions). Furthermore, we have measured the carbon footprint of our European Real Estate loan portfolio in accordance with the standards we discuss in our report on Residential Real Estate – Leading to Net-zero. In doing so, we partly used information from third-party sources that we believe to be reliable, but which has not been independently verified by us, and we do not represent that the information is accurate or complete. The inclusion of information contained in on this website should not be construed as a characterization regarding the materiality or financial impact of that information.
If emissions have not been publicly disclosed, these emissions may be estimated according to the Partnership for Carbon Accounting Financials (PCAF) standards. For borrowers whose emissions have not been publicly disclosed, we estimate their emissions according to the PCAF emission factor database. Since there is no unified source of carbon emission factors (including sustainability-related database companies, consulting companies, international organizations, and local government agencies), the results of estimations may be inconsistent and uncertain.
Past performance and simulations of past performance are not a reliable indicator and therefore do not predict future results.
This website contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates, and projections as they are currently available to the management of Deutsche Bank Aktiengesellschaft. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to publicly update any of them in consideration of new information or future events. By their very nature, forward-looking statements involve risks and uncertainties. Several important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions on the financial markets in Germany, in Europe, in the United States, and elsewhere, from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets; the development of asset prices and market volatility; potential defaults of borrowers or trading counterparties; the implementation of our strategic initiatives; the reliability of our risk management policies, procedures and methods; and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our most recent SEC Form 20-F under the heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded from our website.