Deutsche Bank says it aims to facilitate over 200bn euros in sustainable finance by the end of 2023, two years earlier than planned.
Deutsche Bank says of the target volume of at least 200 billion euros by 2023, 86 billion euros is planned to come from the Private Bank, 30 billion euros from the Corporate Bank and 105 billion euros from the Investment Bank.
The Investment Bank plans to grow its market share of ESG bonds and loans over last year’s share. In the first quarter of 2021, the market share by fees in combined investment grade and leverage finance sustainable debt issuance rose to 6.1 percent, versus 4.3 percent in the year 2020. In Fixed Income & Currencies the bank aims to facilitate financing worth 2.8 billion euros for the construction of energy-efficient and social housing in 2021.
“We have to progress as quickly as possible from ambition to impact”, said CEO Christian Sewing. “Since announcing our 200 billion euro target last year, we have made significantly more progress than we anticipated. We now want to achieve this volume sooner and we will report on progress transparently and in detail”. By the end of the first quarter of 2021 the bank’s business divisions (not including DWS) had facilitated sustainable finance and investments of 71 billion euros.