Commerzbank

Commerzbank reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 35 Kt (-5.8 /-14.2% y-o-y). Also positively, carbon intensity tumbled to 3.3 t (-1.8 /-35.3% y-o-y).

Commerzbank's Scope 3 emissions was down at 36 Kt (-7.1 /-16.4% y-o-y). The rate of decline has slowed compared to the trend since 4Q'19 (CAGR -20.3%).

The company has not set a company-wide target for an absolute reduction in GHG emissions yet.

Commerzbank also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. Headline target: Commerzbank AG's portfolio targets cover 54% of its total investment and lending assets as of end 2021. (1) As of 2021, required activities made up 39% of Commerzbank AG’s total investment and lending assets while optional activities made up 35% and out of scope activities made up 26%. (1) These targets and coverage % do not include third-party asset management activities https://sciencebasedtargets.org/resources/files/Target-language-and-summary_Commerzbank-AG.docx.pdf