German lender Deutsche Bank plans to pump at least 200 billion euros ($216.8 billion) into so-called sustainable financing and investments by 2025, its first formal targets for doing so.
FILE PHOTO: Deutsche Bank CEO Christian Sewing speaks during the bank's annual news conference in Frankfurt, Germany, January 30, 2020. REUTERS/Ralph Orlowski
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. Countries in Europe and elsewhere have also been looking at ensuring that sustainable investment is at the heart of economic recovery plans after the COVID-19 pandemic.
The bank said it would report annually on its progress and disclose more details on its definition of sustainable finance by the end of the second quarter of this year.
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