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Home › Banks ›
Bank
DZ BankGermany

Active

This profile is actively maintained
Last update: 2023-01-19 15:30:20
DZ Bank's head office in Frankfurt. Photo: Dontworry via Wikimedia Commons (CC BY-SA 3.0)

Active

This profile is actively maintained
Last update: 2023-01-19 15:30:20
About
Website http://www.dzbank.com/
Headquarters
Platz der Republik
60265 Frankfurt am Main Hessen
Germany
CEO/chair Uwe Fröhlich and Cornelius Riese
co-CEOs
Supervisor
Federal Financial Supervisory Authority (BaFin)
Ownership

DZ BANK is the central institution of the Volksbanken Raiffeisenbanken Cooperative Financial Network and the central bank for more than 700 cooperative banks in Germany, in which it holds a majority interest.

DZ Bank, founded in 2001, is the second largest bank in Germany by assets, and acts as the central banking institution for more than 700 cooperative banks. It is part of the Volksbanken Raiffeisenbanken co-operative network, one of Germany's largest private sector financial institutions. In this network DZ Bank functions as a central institution. The DZ Bank Group includes DVB Bank, a transportation finance bank; Bausparkasse Schwäbisch Hall, a building society; DG HYP, a provider of real estate finance; DZ PRIVATBANK Gruppe; R+V Versicherung, an insurance company; TeamBank, a provider of consumer finance; Union Investment Group, an asset management company; VR LEASING; and other institutions.

Sustainability
Commitments
Policies
Voluntary standards

DZ Bank's most important sustainability commitments can be found at the website sections listed below.

Links

Corporate responsibility

2022-09-30 00:00:00

Sustainability commitment

Bank policy
2022-09-30 00:00:00 | DZ Bank
2022-01-24 00:00:00

Climate strategy

Date listed represents date as accessed on website
Bank policy
2022-01-24 00:00:00 | DZ Bank
2022-01-24 00:00:00

Human rights policy

Date listed represents date as accessed on website
Bank policy
2022-01-24 00:00:00 | DZ Bank
2021-03-15 00:00:00

Sustainable lending policy

Bank policy
2021-03-15 00:00:00 | DZ Bank
2020-04-01 00:00:00

Climate Position Paper

Bank policy
2020-04-01 00:00:00 | DZ Bank
2019-06-02 00:00:00

Code of Conduct

Bank policy
2019-06-02 00:00:00 | DZ Bank
2019-05-09 00:00:00

Supplier management

Date listed represents date as accessed on website
Bank policy
2019-05-09 00:00:00 | DZ Bank
DZ Bank has committed itself to the following voluntary standards:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
German Sustainability CodeTags:
Global Reporting InitiativeTags: sustainable development | human rights
Paris Agreement Capital Transition Assessment (PACTA)Tags: corporate social responsibility
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance
UNEP Finance InitiativeTags: United Nations | sustainable development
United Nations Global CompactTags: United Nations | human rights
Dodgy Deals

DZ Bank is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of DZ Bank's link to these deals.

Campaigns

Banks and Climate

The 2022 Banking on Climate Chaos report showed that DZ Bank provided US$ 1.63 Billion in financing to the fossil fuel industry between 2016 and 2021. Find further details on DZ Bank fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.

 

Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in the Coal Policy Tracker and Oil and Gas Policy Tool. Find further details on their assessment of DZ Bank fossil fuel policy below.

 


Banks and Human Rights

BankTrack assessed DZ Bank in its 2022 Global Human Rights Benchmark, where it achieved 1.5 points out of 14 and was ranked as a laggard. In addition, DZ Bank scored 0.8 out of 3 on how it responds to alleged human rights violations linked to its finance, which were raised by civil society organisations. More information is detailed in the "Accountability" section of this profile.

Global Human Rights Benchmark 2022

BankLast update
Country
Score
Ranking
Details
DZ Bank
DEU
1.5
Laggard
0
Germany
Score
Laggard
1.5
Explanation

DZ Bank's human rights policies, processes and reporting were assessed as part of the BankTrack Global Human Rights Benchmark 2022. The bank is assessed as a Laggard, with a total score of 1.5 out of 14.

Policy: 0.5/3
Due dilligence: 0.5/5
Reporting: 0.5/3
Remedy: 0/3


Response Tracking:
The bank was also assessed on its responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations, for which it received an average score of 0.8/3. See the Response Tracking section of this profile for more details.

Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6.5 points
7 - 10 points
10.5 - 14 points
For more details see this page.

Banks and Nature

Forest & Finance Policy Assessment 2022: Overall scores

BankLast update
Country
Score
Ranking
Details
DZ Bank
2022-09-21
DEU
4.9
Front runner
0
Germany
Profile
Score
Front runner
4.9
20220921
Last update: 2022-09-21
Explanation

The policy assessment covers the main forest-risk commodity sectors (Beef, Palm Oil, Soy, Timber, Pulp and Paper, and Rubber). Weighted scores are based on the scope of DZ Bank's relevant policies, taking into account different types of financing and the sectors in which the bank is active. Details about the scores per sector policy can be found on DZ Bank's profile.

Explanation

A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Beef

BankLast update
Country
Score
Ranking
Details
DZ Bank
2022-09-21
DEU
2.4
Follower
0
Germany
Profile
Score
Follower
2.4
20220921
Last update: 2022-09-21
Explanation

The policy assessment covers the bank's policies related to beef. Weighted scores are based on the scope of ABN AMRO's relevant policies, taking into account what types and how much finance the bank provides to companies active in the beef industry. Details of the criteria used to assess the policies and scores for other forest-risk commodity sectors can be found on DZ Bank's profile.

Explanation

A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Palm Oil

BankLast update
Country
Score
Ranking
Details
DZ Bank
2022-09-21
DEU
5.8
Front runner
0
Germany
Profile
Score
Front runner
5.8
20220921
Last update: 2022-09-21
Explanation

The policy assessment covers the bank's policies related to palm oil. Weighted scores are based on the scope of ABN AMRO's relevant policies, taking into account what types and how much finance the bank provides to companies active in the palm oil industry. Details of the criteria used to assess the policies and scores for other forest-risk commodity sectors can be found on DZ Bank's profile.

Explanation

A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
News
BankTrack
Partners
Blog
External
BankTrack news BankTrack blog Partner news Partner blog

Fair Finance Guide 7.0

Viele Banken bessern ihre Nachhaltigkeitsrichtlinien verfügen aber häufig über zu schwache bzw. ungenügende Richtlinien zur Bekämpfung des Klimawandels
2023-03-23 | Fair Finance Guide Germany
Blog
BankTrack news BankTrack blog Partner news Partner blog

Europe’s largest banks falling short on climate and biodiversity action

New ShareAction research uncovers urgent need for UK and European banking sector to close loopholes in climate and biodiversity strategies
2022-12-12 | ShareAction
Blog
BankTrack news BankTrack blog Partner news Partner blog

European financial institutions heavily invested in companies involved in illegal Israeli settlements

725 European Financial Institutions found to provide billions of dollars in finance to companies operating in Israel's illegal settlement enterprise
2022-12-05 | Brussels | Don't Buy Into Occupation
BankTrack news BankTrack blog Partner news Partner blog

Faires Geld braucht die Welt

Neue ÖPNV-Infokampagne in NRW für mehr Nachhaltigkeit im Bankensektor
2022-12-02 | lifePR
Blog
BankTrack news BankTrack blog Partner news Partner blog

New human rights assessment of banks shows slow progress and lack of action to address key gaps on reporting and remedy

BankTrack’s 2022 Global Human Rights Benchmark finds reporting at a standstill, remedy still lacking and no clear leaders
2022-11-17 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Big European financial institutions invest heavily but turn a blind eye to human rights abuses in Qatar

2022-11-07 | Fair Finance International
Blog
BankTrack news BankTrack blog Partner news Partner blog

More major banks and insurers refuse to support EACOP

Lloyds syndicates silent amid human rights abuses
2022-10-14 | BankTrack, #StopEACOP
Blog
BankTrack news BankTrack blog Partner news Partner blog

Eyes closed, costs down, profits up

Dirty Profits 9 published today by Facing Finance
2022-05-18 | Berlin | Facing Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

NGOs reveal top international companies, banks, and investors that fuel Russia's war machine

2022-04-04 | Berlin | urgewald, Ecodefense
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
2022-03-30 | San Francisco, Bemidji, Nijmegen, Oakland, Paris, Sassenberg, Washington DC | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club, Urgewald
BankTrack news BankTrack blog Partner news Partner blog

Coal finance: Germany's top banks face pressure to tighten lending policies

BankTrack quoted
2021-11-04 | S&P Global
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Banks involved in financing at least 200 fossil fuel projects since Paris

BankTrack research sheds new light on finance for fossil fuels by Equator banks
2021-10-26 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report exposes billions in European financial support to companies in illegal Israeli settlements

2021-09-29 | Don't Buy Into Occupation
Blog
BankTrack news BankTrack blog Partner news Partner blog

Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

210+ groups support urgent call to action
2021-09-23 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

New research puts big banks’ sustainability claims in doubt

While 20 of Europe’s 25 largest banks have pledged to reach net-zero emissions by 2050, none have matched these long-term ambitions with comprehensive plans to avert climate change and biodiversity loss
2021-09-06 | London | ShareAction
Blog
BankTrack news BankTrack blog Partner news Partner blog

New bank links to Myanmar junta and atrocities found

19 international banks together invest over US$65 billion in shares of companies with ties to the Myanmar military junta
2021-07-28 | BankTrack, Justice For Myanmar
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016
2021-03-24 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

Massive forest fires and haze in Indonesia create public health and climate crisis

2019-09-19 | Environmental Paper Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Every two weeks a bank, insurer or lender announces new coal restrictions

Major financial institutions restricting coal funding tops 100
2019-02-27 | IEEFA
Resources
Documents
Links
2023-01-27 00:00:00

Background briefing: Just 7% of global banks' energy financing goes to renewables, new data shows

BankTrack publication
2023-01-27 00:00:00 | Profundo for Sierra Club, Fair Finance International, BankTrack, Rainforest Action Network
2022-11-17 00:00:00

BankTrack Global Human Rights Benchmark 2022

BankTrack publication
2022-11-17 00:00:00 | BankTrack
2022-09-30 00:00:00

Sustainability commitment

Bank policy
2022-09-30 00:00:00 | DZ Bank
2022-07-14 00:00:00

Letter from BankTrack and Mars se Drine to DZ Bank on Rio Tinto Jadar Lithium Mine

Correspondence
2022-07-14 00:00:00 | BankTrack and Mars se Drine
2022-04-05 00:00:00

CSR report 2021

Annual report
2022-04-05 00:00:00 | DZ Bank
2022-03-30 00:00:00

Banking on Climate Chaos 2022

Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
BankTrack publication
2022-03-30 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, urgewald
2022-03-29 00:00:00

Annual report 2021

Document in German
Annual report
2022-03-29 00:00:00 | DZ Bank
2022-01-24 00:00:00

Climate strategy

Date listed represents date as accessed on website
Bank policy
2022-01-24 00:00:00 | DZ Bank
2022-01-24 00:00:00

Human rights policy

Date listed represents date as accessed on website
Bank policy
2022-01-24 00:00:00 | DZ Bank
2021-12-12 00:00:00

Letter from BankTrack to DZ Bank on lithium mining in Serbia’s jadar valley

Correspondence
2021-12-12 00:00:00 | BankTrack
2021-08-03 00:00:00

CSR Report 2020

Annual report
2021-08-03 00:00:00 | DZ Bank
2021-07-06 00:00:00

Annual report 2020

Annual report
2021-07-06 00:00:00 | DZ Bank
2021-03-15 00:00:00

Sustainable lending policy

Bank policy
2021-03-15 00:00:00 | DZ Bank
2020-05-11 00:00:00

Annual report 2019

Annual report
2020-05-11 00:00:00 | DZ Bank
2020-04-01 00:00:00

Climate Position Paper

Bank policy
2020-04-01 00:00:00 | DZ Bank
2019-09-30 00:00:00

Deutsche Banken spielen mit dem Feuer

NGO document
2019-09-30 00:00:00 | Facing Finance
2019-06-02 00:00:00

Code of Conduct

Bank policy
2019-06-02 00:00:00 | DZ Bank
2019-05-21 00:00:00

Fool's Gold

The financial institutions bankrolling Europe’s most coal-dependent utilities
NGO document
2019-05-21 00:00:00 | Europe Beyond Coal
2019-05-09 00:00:00

Supplier management

Date listed represents date as accessed on website
Bank policy
2019-05-09 00:00:00 | DZ Bank
2019-05-08 00:00:00

Annual report 2018

Annual report
2019-05-08 00:00:00 | DZ Bank
2019-02-21 00:00:00

Letter from Civil Society Groups to Companies linked to Vale on Breakdown of Brumadinho tailings dam

Correspondence
2019-02-21 00:00:00 | Civil Society Groups
2018-05-01 00:00:00

Annual report 2017

Annual report
2018-05-01 00:00:00 | DZ Bank
2017-05-01 00:00:00

Sustainability report 2016

Annual report
2017-05-01 00:00:00 | DZ Bank
2016-07-22 00:00:00

Sustainability Report 2015

Annual report
2016-07-22 00:00:00 | DZ Bank Group
2016-06-15 00:00:00

Annual Report 2015

Rethinking Banking
Annual report
2016-06-15 00:00:00 | DZ Bank Group
2015-08-24 00:00:00

Sustainability Report 2014

Annual report
2015-08-24 00:00:00 | DZ Bank Group
2015-04-29 00:00:00

Annual Report 2014

Helping shape the future
Annual report
2015-04-29 00:00:00 | DZ Bank Group

DZ Bank's webpage on corporate social responsibility

Accountability
Grievances
Response tracking

DZ Bank has not established any complaints or grievance mechanisms able to address human rights concerns and open to individual and communities who might be adversely affected by its financing activities. It is however possible to lodge a complaint with the OECD National Contact point (see OECD Watch Guidance).

This page evaluates DZ Bank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring
Myanmar: Equity exposure to companies linked to the military regime, October 2021
0
0
0
0
Dodgy Deal profile
Response
0
Out of 1
Rationale for score
The bank did not respond.
Action
0
Out of 1
Rationale for score
No information available on whether the bank engaged with its client or investee companies or took appropriate action.
Monitoring
0
Out of 1
Rationale for score
No information available about whether the bank monitored progress.
More info
New bank links to Myanmar junta and atrocities found, July 28, 2021
Rio Tinto's Jadar mine, Serbia (Letter, Dec 2021)
0
1
0.5
n/a
Dodgy Deal profile
Response
1
Out of 1
Rationale for score
The bank responds publicly to the allegations in a way which comments on and responds to the substance of the issues raised, e.g noting the current status of the project and its expectations of Rio Tinto. Its response acknowledges its link to the impact.
Action
0.5
Out of 1
Rationale for score
The bank sets out that it has engaged with the client or investee company (in general terms) and sets out its expectations of Rio Tinto regarding the project, however it does not make explicit that it has engaged with the company on the specific project, or required the company to takle specific actions.
Monitoring
n/a
Rationale for score
The impact was not raised over a year ago and therefore is not scored on monitoring progress.
More info
Letter to financiers of Rio Tinto, December 2021

Average
50%
0
0.5
0.25
0
Send feedback on this profile
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