Deutsche Bank and WWF Partner on Sustainable Financing
In Berlin, Deutsche Bank's Private Bank Germany and WWF Germany have agreed to collaborate on an advisory service for an initial two-year period. The goal of the partnership is to support Deutsche Bank's strategy for sustainable finance and promote sustainable finance within Private Bank Germany.
Philipp Gossow, Head of Sales Private Bank Germany and Head of ESG Private Bank: "We look forward to working with the WWF and to what we will achieve together in the coming months. The financial sector plays a key role in the sustainable transformation of our economy and society. At Private Bank Germany, we provide comprehensive advice to our clients, including on sustainable finance products and services – an area in which we are looking to expand our expertise."
In collaboration with WWF, Deutsche Bank aims to investigate whether its products and services can facilitate a shift towards a more environmentally-friendly lifestyle. The bank plans to improve its services, structures, processes, and communication with clients to make everything more sustainable. Also, the bank wants to work with WWF to figure out how well its "green" branches are doing.
Deutsche Bank has already taken steps to improve sustainability, like joining the German Financial Sector's commitment to climate change and pathways to net zero. Now, Private Bank Germany is working with WWF to develop more ideas and actions. One of the top priorities will be financing sustainable housing, like renovations that use less energy and advising on sustainable investments.
The goal of the cooperation is to learn more about people's needs for sustainable projects and investments at different stages of their lives. This will help shape future product and process development. The WWF will bring its vast knowledge and network to the partnership. Together, they will work on projects that help Germany and other countries make the much-needed change to a greener, more sustainable economy and society.
Heike Vesper, Managing Director Politics & Transformation WWF Germany: "The ecological transformation will only succeed if banks actively shape the transformation of the economy and society. The window of opportunity is shrinking, and this decade, structural changes will be needed to take the path to the 1.5-degree limit. In concrete terms, many decisions now need to be taken and financed in a climate-friendly manner. To accelerate the systemic changes in the remaining period and to channel financing correctly, WWF Germany is cooperating with Deutsche Bank. It has an impact on the German financial market, and by designing financing solutions, for example, in the mortgage space, the bank has substantial leverage in the transformation being a success."
Source: Deutsche Bank