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Transcript of Sustainability at Deutsche Bank Sustainability at Deutsche Bank Governance structure Deutsche Bank...

  • Viktoriya Borysova / Dr. Antje Stobbe 28 March 2017

    Deutsche Bank Investor Relations / Communications & CSR / Group Sustainability

    Deutsche Bank

    Sustainability at Deutsche Bank

    Paris, 28 March 2017

    Viktoriya Borysova (Group Sustainability) Dr. Antje Stobbe (Investor Relations)

  • Viktoriya Borysova / Dr. Antje Stobbe 28 March 2017

    Deutsche Bank Investor Relations / Communications & CSR / Group Sustainability

    2

    Agenda

    1 Sustainability: Our approach

    2 Sustainability: Selected topics

    3 Governance and remuneration

    4 Staff

    5 Further information (Appendix)

  • Viktoriya Borysova / Dr. Antje Stobbe 28 March 2017

    Deutsche Bank Investor Relations / Communications & CSR / Group Sustainability

    Sustainability at Deutsche Bank Selected facts and figures 2016

    — Risk culture: 640,000 completed compliance courses

    — Training: Approx. 500 employees in the US and Asia trained on human rights, world heritage sites and climate change

    — Enterprise program: Made for Good supported 9,812 social enterprises in 33 countries

    — Diversity: Employees from 150 different nationalities now work at the bank

    — Corporate Volunteering: Around 17,000 employees were active as corporate volunteer and invested almost 188,000 hours in more than 3,000 projects

    Sustainability at Deutsche

    Bank

    — UN Green Climate Fund: Approved an initial USD 78.4 m investment into Deutsche AM’s African green energy access fund

    — Sustainable Development Goals (SDGs): Managed ten sustainable and impact funds with a combined volume of over USD 1.76 bn

    — Coal exposure: Decided to gradually reduce the existing exposure to the thermal coal mining sector over the next three years

    — Carbon neutrality: Avoided 289,694 tons of CO2e emissions in our own operations by purchasing renewable energy

    — ES reviews: Conducted 727 client and transaction reviews by the sustainability team

    — Green bonds: Accompanied issuance of EUR 8 bn in green bonds by the end of 2016

    Deutsche Bank Group Sustainability and Deutsche Asset Management Sustainability Office are responsible for integrating sustainability in DB core business

    — Green energy: Arranged EUR 3.9 bn in project finance for renewable energy projects

    — Deutsche AM: Managed EUR 9.9 bn of ESG assets under management

    — ES risk management: Published the ES Policy Framework on its website to increase transparency

    — Deutsche AM: Ranked by Bloomberg Business Week as the only asset manager who voted 100 % in favor of 68 climate change related shareholder proxy votes

    3

  • Viktoriya Borysova / Dr. Antje Stobbe 28 March 2017

    Deutsche Bank Investor Relations / Communications & CSR / Group Sustainability

    Sustainability at Deutsche Bank Governance structure

    Deutsche Bank Management Board Responsibilities for sustainability

    Deutsche Bank Supervisory Board

    John Cryan Chairman of the

    Management Board

    Integrity Committee

    Nicolas Moreau Head of

    Deutsche Asset Management

    — Governance — Culture — Environmental issues

    Examples: — Implementation of the bank’s

    corporate culture within its organizational structures and the challenges related to this

    — Effects of the revised policies on coal mining and energy

    — Handling of issues related to the mountain top removal mining method

    — The bank’s governance structures

    — Furthermore, it closely monitored high-risk litigation cases and regulatory proceedings and addressed the insights gained from this

    Group Sustainability

    Topics covered at Integrity Committee’s meetings in 2016 included …

    Deutsche Asset Management Sustainability Office

    Responsible for: — Development and implementation of

    Group-wide Sustainability strategy, aiming at integrating environmental and social dimensions of Sustainability from a risk and opportunities perspective into the bank’s core business

    — Promoting bank-wide cross- divisional/functional collaboration on all dimensions of Sustainability

    — Target-group oriented transparency on Sustainability topics

    Responsible for: — Provision and implementation of

    internal ESG governance framework — Development of internal ESG

    guidelines for Asset Management — ESG Governance within Asset

    Management RepRisk and NPA processes

    — Mandatory ESG reporting for Asset Management

    4

    Communications & CSR Chief Investment Officer for Responsible Investments

  • Viktoriya Borysova / Dr. Antje Stobbe 28 March 2017

    Deutsche Bank Investor Relations / Communications & CSR / Group Sustainability

    Embedding environmental and social responsibility Policy hierarchy

    Global Reputational

    Risk Framework

    ES Policy Framework

    Industry Sector

    Specific Guidelines

    Defines consistent standards for the identification, assessment and management of reputational risk matters

    Details DB’s guidelines for dealing with ES risks including criteria for mandatory referral to Group Sustainability and to the Regional Reputational Risk Committees

    Provide detailed guidance on the industry sector specific analysis of ES risks including “Dos and Don’ts”

    — ES due diligence is an integral part of DB Global Reputational Risk Framework

    — Group Sustainability acts as a Control Group under the Framework — From 2016, the ES Policy Framework has been disclosed on our

    website – find it here: https://www.db.com/cr/en/docs/DB-ES-Policy-Framework- English.pdf

    5

  • Viktoriya Borysova / Dr. Antje Stobbe 28 March 2017

    Deutsche Bank Investor Relations / Communications & CSR / Group Sustainability

    Embedding environmental and social responsibility Selected industry sector specific guidelines

    No financing of the construction of new or the expansion of existing coal-fired power plants Projects designed to employ Carbon Capture and Storage technology will be assessed on a case by case basis.

    No new lending for greenfield thermal coal mines We expect clients to have an established ES Management System in place certified by standards such as ISO 14000 and OHSAS 18001

    We support finance for civil nuclear power, subject to specific country and project criteria such as compliance with international treaties and adherence to health, safety, ES standards

    Our ES Policy Framework requires an evaluation of the ES impact of all projects and we require appropriate sustainability standards for any project we consider financing

    Coal fired power

    Hydro power

    DB has committed to a multitude of human rights standards and principles - internal and external - including the recent UK Modern Slavery Act 2015 Formal Human Rights statement: will not engage in any activities or relationships when there is clear evidence of severe human rights violations

    We will only support activities in or near World Heritage Sites if the government and UNESCO agree that the planned activities will not adversely affect the Outstanding Universal Values of the Site

    World Heritage Sites

    We expect clients to respect the ILO Core Conventions and relevant accords and principles Our ES due diligence further takes into account the client‘s supply chain, countries of operation and its ES Management System

    Textiles

    Coal mining

    Nuclear power

    Human rights

    As a minimum, clients must provide a plantation or mill certification plan in accordance with the criteria imposed by the Roundtable on Sustainable Palm Oil (RSPO) Other certifications apply for areas like timber or soy

    Monoculture farming

    6

  • Viktoriya Borysova / Dr. Antje Stobbe 28 March 2017

    Deutsche Bank Investor Relations / Communications & CSR / Group Sustainability

    Embedding environmental and social responsibility Development of ES reviews

    406

    721

    1,250 1,346

    727

    2012 2013 2014 2015 2016

    O&G 29%

    Utilities 16%

    Chemicals 7%Others4%

    Metals and mining 19%

    Monoculture 9%

    Industrials 16%

    2016

    Transactions/clients reviewed from an ES perspective Sectoral spilt

    Transactions reviewed by Reputational Risk Committees

    (1) June-December 2015: Full year not comparable due to changes in Reputational Risk Framework

    # of deals escalated to 2016 2015(1)

    Unit Reputational Risk Assessment Processes only 83 53

    — thereof with environmental and social issues 4 4

    Regional Reputational Risk Committees 59 35

    — thereof with environmental and social issues 2 6

    Group Reputational Risk Committee or above 6 6

    — thereof with environmental and social issues 1 0

    7

  • Viktoriya Borysova / Dr. Antje Stobbe 28 March 2017

    Deutsche Bank Investor Relations / Communications & CSR / Group Sustainability

    8

    Agenda

    1 Sustainability: Our approach

    2 Sustainability: Selected topics

    3 Governance and remuneration

    4 Staff

    5 Further information (Appendix)

  • Viktoriya Borysova / Dr. Antje Stobbe 28 March 2017

    Deutsche Bank Investor Re