(1888PressRelease) December 26, 2009
- In particular through its foundations, Commerzbank is involved in education and research, art, culture and social causes. In 2008, the sponsorship volume of the Commerzbank Foundation alone was approx. €1.5m, and since its formation in 1970 it has donated a total of €21.3m. With the merger of the Commerzbank and Dresdner Bank foundations, which brought total endowment capital of about €100m under one roof, the new Commerzbank will continue to expand its social involvement. The foundation's activities are intended to concentrate even more strongly on education in future. Commerzbank has already launched two projects in this area, for example, which are extremely successful throughout Germany: the 'Internship for the Environment', created in 1990, and the 'Campus of Excellence' initiative. More than €38m in total was invested in the Bank's social involvement in 2008.
Commerzbank has a wide variety of sustainable products and services. The key component is company and project financing along the entire added value chain within renewable energy. This includes advising corporate customers on improving energy efficiency via the climate:coach and the main instrument for limiting climate change, emissions trading. Moreover, Commerzbank is invested in microfinance banks in south-eastern Europe which provide loans to small and mid-sized companies, among other things. The Bank also supports activities in developing countries and emerging markets, which is why it decided in September 2009 to contribute $750m to the World Bank's Global Trade Liquidity Program. The initiative is intended to support trade finance in less developed countries and will especially benefit the countries of sub-Saharan Africa.
In the field of ecology, Commerzbank has laid the foundation for sustainable environmental and climate management with the adoption of its climate strategy, environmental policy and the consolidation of the environmental management systems of Commerzbank and Dresdner Bank. In mid-2009 the combined environmental management system was recertified. The Bank's goal is to reduce its Group-wide CO2 emissions by 30% compared with the base year of 2007 by 2011 and to gradually make the new Commerzbank into a climate-neutral.
The Bank is also firmly committed to its employees. In 2008, for example, a total of 700 new trainees were hired. With 1,483 trainees at the end of 2008, they make up 7.6% of the total headcount, giving Commerzbank the one of the highest ratios of trainees to total staff among Dax 30 companies.
The new CR report also serves as Communication on Progress (COP) for the UN Global Compact, which Commerzbank joined in 2006.
The report is available online at http://sustainability2009.commerzbank.com.
Michael Machauer, 069 263-57079