German banking titan Deutsche Bank will link top executives’ pay with sustainability criteria, including new annual growth targets for sustainable financing, starting next year.
The bank has revealed it expects its sustainable financing and investments to increase tenfold to more than €200bn by 2025 and hopes that the linking of executive pay to sustainability will reinforce this. This year, Deutsche Bank expects its sustainable financing will top €20bn.
It will use sustainability ratings from five “leading” unnamed providers in the assessment of executives’ compensation via a “a sustainability ratings index”, it said yesterday.
Deutsche Bank’s Sustainability Committee of the Management Board was formed earlier this year, and is chaired by its CEO, Christian Sewing.
“It is our ambition to be a leader on sustainability in the financial sector,” said Sewing. “We see a great opportunity for us to transform ourselves as well as to support o…