Commerzbank

Commerzbank's reported carbon emissions

Commerzbank AG, headquartered in Germany and operating in financial intermediation services, has reported significant progress in its climate action. In 2024, the bank's total carbon emissions, encompassing Scope 1, 2, and 3, amounted to approximately 75.1 billion kg CO2e. This figure is driven predominantly by Scope 3 emissions, which totalled about 74.4 billion kg CO2e, with investments constituting the largest portion. Scope 1 emissions were approximately 351.9 million kg CO2e, and Scope 2 emissions were about 16.5 million kg CO2e (market-based). The bank has set ambitious reduction targets. Commerzbank aims for carbon neutrality in its direct operations (Scope 1) and purchased energy (Scope 2) by 2030. Furthermore, it has a long-term goal to achieve net-zero emissions across its entire lending and investment portfolio by 2050. Commerzbank has already achieved a significant milestone, reducing its greenhouse gas emissions by 34.9% in 2022 compared to the 2018 baseline, surpassing its target of a 30% reduction by 2025. Looking ahead, Commerzbank is committed to a 42% reduction in Scope 1 and Scope 2 greenhouse gas emissions by 2030, using 2021 as the base year. For Scope 3 upstream emissions, the bank targets a 23% reduction by 2030 and a substantial 90% reduction by 2050. Commerzbank AG's operational emissions (Scope 1 and 2) are aligned with keeping warming to 1.5°C, and their portfolio targets cover 34% of total investment and lending by risk-weighted assets as of 2021. The bank is actively working towards net-zero in its own banking operations by 2040.