Deutsche Bank claims to support the goals of the Paris Agreement and achieving net zero global emissions by 2050. The bank is a signatory to the Paris Pledge for Action, the German financial sector’s Climate Commitment and the Net Zero Banking Alliance [1]. CEO Christian Sewing has also publicly stated, “The fight against climate change is probably the greatest challenge facing humanity, and we banks will have to fundamentally align ourselves with it.” [2]
Deutsche Bank’s claims must be measured against what scientific and economic expert bodies say is required to limit global warming to 1.5ºC and achieve net zero global emissions by 2050. Weiterlesen
Permanent link to this article: https://www.kritischeaktionaere.de/en/deutsche-bank/statement-from-market-forces-on-deutsche-banks-funding-for-new-coal-production/
Our statement for the Annual General Meeting 2021 of Deutsche Bank
Dear Shareholders,
In 2015, Deutsche Bank vowed to support the Paris Agreement [1]. However, since then, Deutsche Bank’s actions have not matched its rhetoric.
Since the Paris Agreement was signed, Deutsche has been a major financier of coal, oil and gas. According to the Banking on Climate Chaos report, between 2016-2020, Deutsche provided US$30.438 billion to companies responsible for expanding fossil fuels [2]. These investments seriously undercut Deutsche Bank’s claims to support climate protection.
The Intergovernmental Panel on Climate Change (IPCC) has been clear that limiting global warming to 1.5ºC avoids many of the more severe impacts that would occur at 2ºC of warming [3]. Weiterlesen
Permanent link to this article: https://www.kritischeaktionaere.de/en/deutsche-bank/deutsche-bank-must-listen-to-the-international-energy-agency-no-new-investments-in-fossil-fuels/
Re Agenda Item 2: Ratification of the acts of management of the members of the Management Board for the 2020 financial year
Association of Ethical Shareholders Germany proposes that ratification of the acts of management of the Management Board be refused.
Reasons
The Management Board of Deutsche Bank continues to pursue a course of action that is incompatible with the goals of the Paris Agreement on Climate Change.
Because it provides finance to the fossil fuels sector, Deutsche Bank is part of the problem
Although Deutsche Bank toughened up its environmental policies last July and has subjected a greater number of coal and other fossil fuel companies to review and exclusion, it still remains a significant source of finance for fossil fuels. Weiterlesen
Permanent link to this article: https://www.kritischeaktionaere.de/en/deutsche-bank/financing-the-fossil-energy-sector-makes-deutsche-bank-a-climate-offender-our-countermotion/
Video messages from Patricia Namirembe, Fridays for Future Uganda and Coedie McAvoy, Wangan and Jagalingou, on the occasion of the Deutsche Bank 2022 Annual General Meeting:
— Kritische Aktionärinnen und Aktionäre (@Krit_Aktionaere) May 19, 2022
Deutsche Bank – You broke your promise. You said you wouldnt fund Adani. This video is being played at the Deutsche Bank annual general meeting, with the help of a shareholder.
Re Agenda Item 3: Ratification of the acts of management of the members of the Management Board for the 2021 financial year
The Association of Ethical Shareholders Germany proposes that ratification of the acts of management of the Management Board be refused.
Reasons: The Management Board of Deutsche Bank AG has failed to uphold its own commitment to comply with international climate targets and sustainable finance.
Lending to the coal industry continues
Despite the tightened 2020 framework for managing environmental and social risks and having signed the climate commitment of the German financial sector and the Net Zero Banking Alliance, Deutsche Bank is still a major lender to companies in the fuel industry. Weiterlesen
Permanent link to this article: https://www.kritischeaktionaere.de/en/deutsche-bank/continued-funding-of-coal-illegal-mining-nuclear-weapons-our-countermotion/
We, the undersigned organisations, welcome the European Commission’s proposalfor a new EU regulation on deforestation-free products. This proposal represents an essential step forward in global environmental governance and a huge opportunity to minimise the EU’s impacts on people and planet in line with its commitments on climate, biodiversity and human rights. It is now up to the European Parliament and Member States to preserve and improve the essential elements of the Commission’s proposal and deliver a strong and ambitious law that meets the high expectations of EU citizens. To that end, we call on the European Parliament and Member States to ensure the current proposal is strengthened to include:
Strong sustainability requirements based on objective criteria that ensure no goods linked to deforestation or forest degradation, as foreseen in the Commission’s proposal, but also to the conversion of other natural ecosystems or human rights violations, may be placed on or exported from the EU market.
Permanent link to this article: https://www.kritischeaktionaere.de/en/human-rights-due-diligence/civil-society-position-statement-on-the-proposed-eu-regulation-on-deforestation-free-products/
The publication of the International Energy Agency’s (IEA) Net Zero by 2050 Roadmap for the Global Energy Sector in May 2021 was a watershed moment for global climate action. The report maps out concrete milestones that need to be met to enable a 2050 world with net zero emissions and limit the global temperature rise to 1.5 °C.
The IEA report finds that in order to limit the global temperature increase to 1.5oC, we must ensure:
No investment in new fossil fuel supply beyond projects committed in 2021: As the Executive Director of the IEA stated: “there is no need for new oil, gas and coal development, which includes no need for oil and gas exploration investments.”
Permanent link to this article: https://www.kritischeaktionaere.de/en/greenwashing-en/open-letter-to-eu-institutions-on-the-iea-net-zero-report-and-the-implications-for-fossil-gas-in-the-eu-climate-taxonomy/
German corporations must demand that Russian extractive company Nornickel respect indigenous rights and environmental standards – or end business deals
After more than 21,000 tons of diesel leaked from a power plant tank in May 2020, causing the largest oil spill in the Russian Arctic to date, the company responsible, Nornickel (Norilsk Nickel), had to pay Russia’s highest fine to date.
In the satellite image, diesel oil spilled in the Ambarnaya River on May 31, 2020 is easily recognizable by its red color.
ESA, CC BY-SA IGO 3.0
But this is still a long way from repairing the damage, let alone addressing the causes. Weiterlesen
Permanent link to this article: https://www.kritischeaktionaere.de/en/human-rights-due-diligence/nornickels-ruthless-business-model-and-the-responsibility-of-german-corporations/
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