How the big banks want to protect the climate.
. Now Fridays for Future (FFF) is also taking a closer look at the banks and their efforts to improve climate protection. “No coal for the coal.” At the end of last week, FFF was the first major institution to look at Commerzbank. Climate protectors drew attention to misconduct in terms of climate protection and coal policy in front of branches of the institute. According to the environmental organization Urgewald, major German banks are still among the world’s 15 largest donors to the coal industry.
The banks offer their commitments to sustainability and climate protection. “We are also setting the pace when it comes to sustainability,” says Commerzbank boss Manfred Knof. “We are of course aware of the crucial role banks play in the fight against climate change.” Commerzbank has been working climate-neutral itself since 2015. By 2050, the total carbon dioxide (CO2) balance of the loan and investment portfolio should be zero. The bank then no longer wants to finance fossil fuels and no companies that make money with oil, coal or gas. Conversely, no bonds and stocks from such companies should be in the own portfolios or those of customers. Sustainable financial products with a volume of 300 …
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