German lender Deutsche Bank plans to pump at least 200 billion euros into so-called sustainable financing and investments by 2025, its first formal targets for doing so.
The money will include loans provided by the bank, bonds placed on behalf of its clients and assets managed by its private bank. It does not include assets managed by its fund arm, DWS, it said in a statement late on Tuesday.The move is the latest by a leading global lender to showcase commitment to sustainable investing, as pressure builds on banks to support the globally agreed transition to a low-carbon and more environmentally friendly economy.
Deutsche Bank said it would base its definition of sustainable activities on a planned European Union framework, known as the sustainable finance taxonomy or use its own"transparent criteria".