Deutsche Bank has announced annual growth targets for ESG business and plans to link them to management compensation from 2021.
The bank’s Supervisory Board and the Management Board are planning to tie compensation of its top-level executives to sustainability criteria from next year onwards. The decisive criteria are to include the annual target volume for sustainable finance and ESG investments as well as a sustainability ratings index comprising five leading ratings agencies. Management performance is also to be assessed according to whether, in the coming year, the bank reduces its power consumption in its buildings by 10 percent versus 2019. The bank plans to use 100 percent renewable sources of energy by 2025.
The volume of Deutsche’s sustainable financing and client investments is set to reach more than 20 billion euros in the current year and to rise to more than 200 billion euros by 2025.