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Created before Nov 2016
Last update: 2017-12-02 10:04:23
Johan Frijns, BankTrack
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DZ Bank (Deutsche Zentral-Genossenschaftbank) is the thirth largest bank in Germany by asset size, and acts as the central banking institution for more than 900 cooperative banks. It forms part of the Volksbanken Raiffeisenbanken Co-operative financial network, one of Germany's largest private sector financial service organisations.
The DZ Bank Group forms part of the German cooperative financial network, and within this network DZ Bank functions as a central institutions. The DZ Bank Group includes DVB Bank, a transportation finance bank; Bausparkasse Schwäbisch Hall, a building society; DG HYP, a provider of commercial 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.
On 1 January 2013 DZ Bank signed up to the Equator Principles, and is profiled as part of BankTrack's Equator Principles Track and Chase project.
Platz der Republik
60265 Frankfurt am Main
Wolfgang Kirsch |
Chief Executive Officer
Sustainability Report 2015|
Annual Report 2016
At the end of 2016, 94 percent of shares were held by cooperative enterprises.
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Voluntary initiativesDZ Bank has committed itself to the following voluntary standards:
See here for the bank's sustainabilty webpage.
In Autumn 2017, according to the DZ Bank website, the bank's "Board of Managing Directors resolved to reject all new future requests for project finance for coal-fired power stations."
DZ Bank and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. DZ Bank adopted the Equator Principles in 2013.
Reporting on the Equator Principles
DZ Bank must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
DZ Bank is involved in financing the following Equator Principles projects that BankTrack considers controversial.
Implementation and reporting
DZ Bank is reporting on the implementation here.