Private Bank Germany of Deutsche Bank and WWF Germany have agreed to collaborate on an advisory service in Berlin for an initial two-year period. The partnership aims to support Deutsche Bank’s sustainable finance strategy and promote sustainable finance within Private Bank Germany.
In collaboration with WWF, Deutsche Bank intends to investigate whether its products and services can facilitate a shift towards a more eco-friendly lifestyle. To increase sustainability, the bank intends to enhance its services, structures, processes, and client communication. Additionally, the bank wishes to collaborate with WWF to assess the performance of its “green” branches.
Deutsche Bank has already taken steps to enhance sustainability, such as joining the German Financial Sector’s commitment to climate change and net-zero emissions. Private Bank Germany is collaborating with WWF to develop additional ideas and actions. Financing sustainable housing, such as renovations that use less energy, and advising on sustainable investments will be top priorities.
The purpose of the partnership is to gain a deeper understanding of people’s needs for sustainable projects and investments at various stages of their lives. This will shape the development of future products and processes. The WWF will contribute its extensive expertise and network to the partnership. Together, they will collaborate on projects that assist Germany and other nations in making the necessary transition to a greener, more sustainable economy and society.
Philipp Gossow, Head of Sales Private Bank Germany and Head of ESG Private Bank: “We look forward to working with the WWF and to what we will achieve together in the coming months. The financial sector plays a key role in the sustainable transformation of our economy and society. At Private Bank Germany, we provide comprehensive advice to our clients, including on sustainable finance products and services – an area in which we are looking to expand our expertise.”
Heike Vesper, Managing Director Politics & Transformation WWF Germany: “The ecological transformation will only succeed if banks actively shape the transformation of the economy and society. The window of opportunity is shrinking, and this decade, structural changes will be needed to take the path to the 1.5-degree limit. In concrete terms, many decisions now need to be taken and financed in a climate-friendly manner. To accelerate the systemic changes in the remaining period and to channel financing correctly, WWF Germany is cooperating with Deutsche Bank. It has an impact on the German financial market, and by designing financing solutions, for example, in the mortgage space, the bank has substantial leverage in the transformation being a success.”