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Created before Nov 2016
Last update: 2016-06-15 16:12:20
Johan Frijns, BankTrack
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DZ Bank (Deutsche Zentral-Genossenschaftbank) is the fourth 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 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. The total assets of DZ Bank Group were EUR 402.5 billion as at December 31, 2014.
On 1 January 2013 DZ BANK AG signed up to the Equator Principles.
Platz der Republik
60265 Frankfurt am Main
Wolfgang Kirsch |
Chief Executive Officer
|Annual report||Annual Report 2015|
At the end of 2014, 93.1 percent of shares were held by cooperative enterprises, including cooperative banks, cooperative central institutions and others.
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Voluntary initiativesDZ Bank has committed itself to the following voluntary standards:
DZ Bank does not have any publicly available policies relating to sustainable investment.
It's website includes a section on Sustainable Lending, which states: "In our lending operations, we systematically assess all loan applications (conventional loans, project finance, and customer-specific trading limits) against relevant sustainability criteria as part of the credit check process. To this end, DZ BANK has developed a uniform bank-wide procedure based on a comprehensive sustainability checklist and sector-specific principles. (...) DZ BANK's sustainability checklist, which has been in use since 2009, is based on the ten principles of the United Nations Global Compact and the Equator Principles (SR 24). We use the list to assess all the factors relevant to a loan that may affect ecological or social risk. The assessments conducted by our experts look at business partners, customers, suppliers, sector, commercial focus, and other aspects."
For the assessment of loan applications from sensitive industries, DZ BANK uses what are known as sectoral rules in addition to the sustainability check. This has led DZ Bank to (as of spring 2013) no longer offer products based on agricultural commodities. The bank has certain exclusion criteria, for a more extensive explanation of these exclusion criteria go here.
- Significant environmental offences
- Significant human rights abuses
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 reports annually on their implementation of the Equator Principles. The 2015 report can be found here.
DZ Bank further reports on its portfolio of projects financed under the Equator Principles on the Equator Principles website, 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.