Our approach to corporate responsibility (CR) focuses on the three dimensions of sustainability to create economic, environmental, and social value. It aims to set the direction for a future-orientated business strategy that balances economic success with environmental and social responsibility. We are committed to the ten principles of the United Nations Global Compact and continuously strive to improve our sustainability performance. We aim for transparency, seize new business opportunities arising from global trends such as climate change, and mitigating environmental and social risks arising from our core business . In addition, we manage our business operations sustainably, for example, by reducing CO2-emissions and committing us to carbon neutrality.
Beyond that, we embrace our responsibility as a corporate citizen. We act to enable communities and economies to prosper. We support education projects that empower the next generation to achieve their full potential, and help to remove social and economic barriers that hold them back. We assist enterprises that help drive positive change in society to get off the ground and reach their next level. And we contribute to stronger and more inclusive communities through local provision for key concerns, and by enriching the cultural landscape. We do this together with like-minded partners from public and private sectors and with the commitment of our highly-skilled workforce. Public advocacy and employee engagement strengthen the impact of our programs.
The ultimate responsibility for CR lies with the Management Board. The Board delegates responsibility to the Global Head of Communications, CSR & Public Affairs, who reports directly to the Board. A centrally organized team (Group Sustainability) develops Deutsche Bank’s sustainability approach and coordinates the associated program, working with the Sustainability Officers across the bank. The business units and infrastructure areas are responsible for achieving their own sustainability goals and engaging their people.
Our global corporate citizenship agenda is underpinned by regional corporate citizenship units and endowed foundations. When implementing initiatives, we apply the same strict governance standards as to our business dealings. The Group Principles for Corporate Citizenship, as well as topical policies and procedures help us to align our approach. All project proposals are evaluated based on a standardized governance framework and scorecard, and are subject to sign-off by the regional Corporate Citizenship teams, the Corporate Citizenship Committee and/or the Corporate Responsibility Management Committee (CRMC) at Board level.
To ensure that resources are deployed efficiently and projects are fully aligned with our strategic objectives, we annually monitor the impact of our corporate citizenship investments and systematically collect feedback from our community partners via Global Impact Tracking.
Since 2014, the CR Management Committee (CRMC) with Management Board representation has acted as the strategic decision-making body for all CR activities. It approves, supports, and ensures a consistent delivery of our corporate responsibility program, as well as key global, regional and divisional sponsorships.