WWF Germany has published its first "Rating on the Integration of Sustainability in Core Business Areas". For this purpose, the 14 largest banks in Germany were assessed against WWF's requirements for the "sustainable bank 2025".
The analysis of the banks by WWF and the partner NKI was carried out on the basis of a detailed questionnaire and in-depth discussions. These covered sustainability issues in all areas of management and core business. Eight criteria were used as the benchmark for the evaluation, which - according to WWF - must be implemented by banks in order to actively accompany the remodeling of economy and society and thus characterize the "sustainable bank 2025". For the final rating, the 14 banks were ranked in six categories, with none reaching either of the first two categories. Deutsche Kreditbank (DKB) achieved the third category in private banking and DKB, ING and LBBW in corporate banking.
Commerzbank is in the subsequent category "upper midfield", both in private and corporate banking. WWF regards the management of Commerzbank as up-to-date in terms of sustainability. The report highlights integration of sustainability in the Commerzbank 5.0 strategy, the responsibility for the topic at different levels within the bank and the numerous commitments, such as the signing of the Principles for Responsible Banking.
In the two areas "savings & investment" and "financing & mortgages", Commerzbank has been attested strengths, e.g. in its product range (Sustainable Asset Management Services, Green Mortgages) and in the management of environmental and social risks in its core business. At the same time, however, the rating also points to challenges. These include, among other things, that up to now sustainability criteria are not taken into account in Commerzbank’s own investments and that the environmental and climate effects of funding activities are not yet systematically recorded and analyzed. However, Commerzbank is already working on these and other topics as part of the implementation of its Strategy 5.0.
