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European Climate Pact

Overview

Location

Germany

Sector

Banking, Financial and Insurance Services

Organisation type
Business

North Star Pledges

Energy

Have a target for 100% renewable electricity consumption by no later than 2050, in line with the RE100 technical criteria

Commerzbank AG has a company-wide target to consume 100% of electricity from renewable sources by 2025 from a baseline of 92.94% renewable electricity consumption in 2018.

Status date: Submitted (28/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Reported electricity consumption target data is checked for completeness. The level of ambition of the target is checked by assessing that the target year is no later than 2050 and the coverage of the target includes the whole company operations. Finally, organisations are checked to be publicly commited to the RE100 campaign.

 

Pathway Pledges

Emissions

Have a company-wide absolute/intensity emissions reduction target

Commerzbank AG has a target to reduce absolute Scope 1+2 (market-based) +3 (upstream) CO2e emissions 74% by 2040 from a base year of 2018.

Status date: Submitted (28/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Reported data is checked for completeness. Pledger must provide at a minimum: (Absolute targets) base year, target year, Covered emissions in base year and Covered emissions in target year. (Intensity targets) Intensity metric, base year, target year, Intensity figure in base year (metric tons CO2e per unit of activity) and the targeted reduction from base year (%).

Energy

Have a target to increase renewable energy consumption

Status date: Submitted (28/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Reported data is checked for completeness. Pledger must provide at a minimum: a base year, target year, figure or percentage in the base year, and figure or percentage in the target year. Check that duration of target is not beyond 2035.

Multi-topic

Publicly disclose climate and environmental data to investors and customers through a public platform

Status date: Submitted (28/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Pledging organisation is confirmed to have disclosed publicly on their climate and environmental impact. For example by responding publicly to the CDP Climate Change Questionnaire.