Commerzbank AG, a prominent player in the financial intermediation services sector, is headquartered in Frankfurt, Germany. Founded in 1870, the bank has established itself as a key provider of a wide range of financial services, including corporate banking, retail banking, and asset management. With a strong presence in Europe and significant operations in Asia and North America, Commerzbank serves millions of customers, from individual clients to large corporations.
The bank is renowned for its innovative digital banking solutions and commitment to sustainability, setting it apart in a competitive market. Commerzbank's strategic focus on customer-centric services and its robust financial expertise have earned it a solid market position, making it a trusted partner in the financial landscape. Notable achievements include its resilience during economic fluctuations and its ongoing efforts to enhance financial inclusion.
+32 vs industry average
Commerzbank’s score of 69 is higher than 80% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Financial Intermediation is among the least carbon-intensive industries
Industry performance
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Commerzbank's reported carbon emissions
Commerzbank's Carbon Footprint and Climate Ambitions
Commerzbank, headquartered in Germany and operating in financial intermediation services, is actively working to reduce its environmental impact. In 2024, the bank reported total global emissions of approximately 75.1 billion kg CO2e. This figure comprises Scope 1 emissions of about 351.9 million kg CO2e, Scope 2 emissions (market-based) of approximately 16.5 million kg CO2e, and a substantial Scope 3 footprint, largely driven by investments, amounting to about 74.3 billion kg CO2e.
Key Emissions Data:
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2024:
- Total Emissions: Approximately 75.1 billion kg CO2e
- Scope 1: Approximately 351.9 million kg CO2e
- Scope 2 (Market-based): Approximately 16.5 million kg CO2e
- Scope 3: Approximately 74.3 billion kg CO2e
- Investments: Approximately 74.3 billion kg CO2e
- Business Travel: Approximately 12.2 million kg CO2e
- Employee Commute: Approximately 32.4 million kg CO2e
- Purchased Goods and Services: Approximately 1.6 million kg CO2e
- Waste Generated in Operations: Approximately 0.5 million kg CO2e
- Fuel and Energy-Related Activities: Approximately 53.2 million kg CO2e
- Upstream Transportation and Distribution: Approximately 6.4 million kg CO2e
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2023: Total emissions were approximately 76.6 billion kg CO2e, with Scope 1 at 17.4 million kg CO2e and Scope 2 (market-based) at 12.9 million kg CO2e. Scope 3 emissions totalled approximately 46.3 million kg CO2e.
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2022: Total emissions stood at approximately 78.4 billion kg CO2e, with Scope 1 at 21.6 million kg CO2e and Scope 2 (market-based) at 12.9 million kg CO2e. Scope 3 emissions were approximately 43.9 million kg CO2e.
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2021: Total emissions were approximately 71.2 billion kg CO2e, with Scope 1 at 16.6 million kg CO2e and Scope 2 (market-based) at 18.2 million kg CO2e. Scope 3 emissions totalled approximately 36.4 million kg CO2e.
Climate Commitments and Reduction Targets:
Commerzbank has established ambitious climate targets aligned with a 1.5°C pathway. Key commitments include:
- Net-Zero by 2050: The bank aims to reduce the CO2 emissions of its entire lending and investment portfolio to net zero by 2050.
- Operational Net-Zero by 2040: Commerzbank is committed to achieving net zero in its own banking operations by 2040.
- Scope 1 and 2 Reductions: A 42% reduction in Scope 1 and Scope 2 greenhouse gas (GHG) emissions is targeted by 2030, compared to the 2021 baseline.
- Progress and Achievements: Commerzbank achieved its goal of reducing GHG emissions by 30% by 2025 (relative to 2018) in 2022, marking a 34.9% decrease.
- Upstream Financing Reductions: The bank aims for a 23% reduction in financed emissions (Scope 3 upstream) by 2030 and a 90% reduction by 2050.
- Supplier Expectations: Suppliers within Commerzbank's portfolio are expected to be climate-neutral by 2040 at the latest.
These commitments reflect Commerzbank's dedication to integrating sustainability into its business strategy and contributing to global climate goals.
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Commerzbank’s Climate Goals (2030 & 2050)
13 goals2030
42% reduction in Scope 2
It envisages a 42% reduction in Scope 1 and Scope 2 GHG emissions by 2030 compared to the base year 2021.
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
See all 13 climate goals
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Scope 3 top emissions categories
7 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Commerzbank
Frequently asked questions
Common questions about Commerzbank’s sustainability data and climate commitments
Data year: 2024
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