Deutsche Bank is introducing a comprehensive package of energy saving measures in its German operations that will help the bank save an additional 4,900,000 kWh of electricity each year. This is equivalent to the average annual consumption of around 1,600 two-person households. The plan will reduce short- and long-term energy consumption and supports the German government’s energy saving efforts.
The bank will implement the following measures to save electricity:
These measures will be introduced gradually but as quickly as possible in the approximately 1,400 buildings in Germany that the bank uses either in whole or in part.
Deutsche Bank also plans to reduce its gas consumption. It has already identified measures that will help it achieve the EU Commission's target of using 15 percent less gas between August 2022 and May 2023. However, as pending decisions by the German Federal Network Agency and the German government will influence the specific measures, implementation is being held off.
Deutsche Bank’s operations are already highly energy efficient thanks to various energy-saving measures. In 2017, the bank implemented an energy management system in Germany in accordance with industrial standard DIN ISO 50001, as part of which the bank adheres to the following:
Deutsche Bank’s plans to reduce its real estate portfolio is also helping cut energy consumption. At the end of 2024, the bank will have 40 percent less space in Frankfurt and nearby Eschborn than at the beginning of 2021. In Bonn, the bank has moved staff from several old buildings to the new building at Neuer Kanzlerplatz. This will save 5,000,000 kilowatt hours of electricity and 6,200,000 kWh of gas annually. Across Germany, the bank has reduced the amount of electricity it directly purchases by 25 percent compared to 2018.
Currently, 91 percent of the bank's electricity worldwide comes from renewable sources. By 2025, the bank aims to source 100 percent of its electricity for its own global business operations from renewable sources and has therefore joined the global RE100 initiative, a global initiative led by the Climate Group.
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement.
Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission.
Such factors are described in detail in our SEC Form 20-F of 11 March 2022 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
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