Commerzbank sees climate change as a global challenge and recognizes that decisive action from the finance sector is required to address it. It has designed a climate change strategy that aligns existing activities with its vision for a low carbon future.
70% reduction of carbon emissions by 2020 compared to 2007. A key part of emissions reduction is sourcing of renewable electricity.
Since the beginning of 2013 Commerzbank has sourced 100% renewable electricity for all of its 1,300 buildings in Germany. The company demands proof of source from the provider to ensure the renewable status of the electricity.
In addition to procurement of renewable electricity, Commerzank is supporting the development of environmentally friendly technology. Through the Centre of Competence Energy, Commerzbank has been one of the world’s largest funders of renewable energy for 25 years, providing finance for wind farms and solar parks operated by institutional investors, municipal utility companies, energy conglomerates and private investors.
Commerzbank gives institutional investors the opportunity to participate in large-scale renewable energy funding via portfolio or individual transaction models. One of these models, the currently expanding US$110 million Green Loan Fund platform, was launched in 2013.
Commerzbank has provided US$5.7 billion in loans for financing renewable energy development.
- 100% renewable power since 2013.
- By the end of 2013 Commerzbank had achieved a reduction of 63.7% in carbon emissions.
- In 2013, wind, solar and bio-energy facilities financed by Commerzbank reduce carbon emissions by 10 million tons a year; this resulted in 10% of all CO2-emissions avoided by the production of renewable power generation in Germany.
- Leadership in the financial sector.
- Funding research will enable the widespread uptake of RE.
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