German lender Deutsche Bank said that it would pump more than 200 billion euros ($244 billion) into so-called sustainable financing and investments by 2023. This is two years earlier than initially planned.
The bank is aiming at more female leaders within its ranks. Because by 2025, women will make up 35% of managing director, director and vice president roles. This is up from 29% now. These announcements came as the Deutsche Bank managers brief investors, analysts and the media on sustainability issues.
The pressure is building on banks to support the globally agreed transition to a low-carbon and more environmentally friendly economy. This is leading the global lenders to showcase their commitment to sustainable investing. The bank last year committed to at least 200 billion in sustainable investments and financing by 2025.
The Chief Executive Officer Christian Sewing said that the bank had made significantly more progress than anticipated. One of that is, reaching 71 billion euros by the end of March. The investments and financing include loans provided by the bank, bonds placed on behalf of its clients and assets managed by its private bank.
Banking has long lagged other industries in Germany. Those were all in leadership positions held by women. Deutsche said that it would aim for women to hold at least 30% of positions in the two levels below its management board. This is by 2025 and up from 24% now.
