Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) has for the first time published quantifiable targets for expanding its sustainable business activities covering the ESG (environmental, social, governance) space and aims to support the transformation towards a sustainable economy. By the end of 2025, the bank will increase its volume of ESG financing plus its portfolio of sustainable investments under management to over 200 billion euros in total. “We are driven by a very strong conviction to help shape the global change to a sustainable, climate-neutral and social economy,” says Deutsche Bank CEO Christian Sewing. “The target of 200 billion euros in sustainable financing and ESG investments is ambitious compared to our peers. However, we are starting from a good base because, as a globally active financing house, we can serve the growing demand of our clients for sustainable investment products by ourselves.” The minimum volume of 200 billion euros within six years includes loans granted by 2025 and bonds placed by Deutsche Bank during this period. It also includes sustainable assets managed by the Private Bank as of the end of 2025. Deutsche Bank is thereby following the standards used in the industry. The ESG assets of around 70 billion euros managed by asset manager DWS as of the end of 2019 are not included in these calculations. When defining which activities it will classify as sustainable, the bank will be guided by the EU Taxonomy – the European Union’s ESG standard. In areas where the EU has yet to develop its own standards, Deutsche Bank will rely on its own transparent criteria. The bank will report annually on the progress towards achieving this target in its Non-Financial Report. It will also disclose more details on its definition of sustainable finance by the end of the second quarter 2020.