Deutsche Bank has announced a wide-ranging set of measures to strengthen its ESG capabilities, including offering ESG as the default option for its wealth management clients from 2022 and offering at least one ESG option in every relevant product category by the end of the year.
The moves are part of an effort to “facilitate” €200bn in sustainable finance and investments by the end of 2023 - two years earlier than originally planned. €105bn of the target is expected to come from its investment bank with the remaining amount from private banking (€86bn) and corporate banking (€30bn).
“We have to progress as quickly as possible from ambition to impact,” said CEO Christian Sewing. “Sustainability will thus become an integral part of our corporate culture.”
Deutsche’s domestic private banking arm will offer at least one ESG option in every relevant product category by the end of this year under the strategy, while its international private b…