Deutsche Bank links board salaries to eco-goals

Frankfurt The Deutsche Bank will link the salaries of the board members to the achievement of sustainability goals. This emerges from an internal letter that Reuters received on Sunday and that was first reported by the “Frankfurter Allgemeine Zeitung”. “It is our ambition to become a role model for sustainability in the financial sector and thus to contribute to a more environmentally friendly, more social and better managed economy,” explained Deutsche Bank boss Christian Sewing. The remuneration of the bank’s top executives should be based on specific sustainability criteria from 2021.

In the future, success will be measured by the fact that the bank achieves the annual volume target for sustainable financing and ESG investments and makes progress with sustainability ratings from five leading rating agencies, the letter said. In future there will be a sustainability committee headed by Sewing.

The abbreviations “ESG” describe three areas of responsibility and stand for environment, social issues such as health protection and diversity (social) and sustainable corporate management (governance).

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