Chief Sustainability Office
1
From ambition to impact
Deutsche Bank’s sustainability strategy at a glance (as of July 2023) 
Strategy
Mission
We aspire to contribute to an environmentally sound, socially inclusive and well-governed world. We strive to support our clients in 
accelerating their own transformation. Our advice as well as our products and solutions shall be built on this commitment.
Impact
Systematically develop business towards
sustainable finance
— Achieve cumulative sustainable financing and 
investment volumes since January 2020 of € 500 
billion by the end of 20251)
— Position Deutsche Bank as partner of choice for 
supporting clients’ transition towards net zero
— Scale up client transition dialogues by building out 
advisory and financing capabilities
— Enhance scalability of green asset origination and 
allocation
Develop and maintain robust governance and risk 
management for environmental and social issues
— Align our lending and investment portfolios to net-
zero by 2050 (Net-Zero Banking Alliance)
— Implement climate-risk methodology for portfolio 
analysis and target setting
— Make CO2 emissions an integral part of our 
decision making
— Strengthen policies for carbon intense sectors
Be a role model by transforming our operations 
towards sustainable behaviour and cultural change
— Become net-zero for own operations by 2050
— Implement data-driven and scalable sustainability 
business model
— Improve sustainable supply chain management
— Strengthen governance and control capabilities 
and empower employees to establish 
sustainability in core of our culture 
— Achieve ambitious gender diversity targets
Publicly advocate sustainable transformation and 
engage with all stakeholder groups
— Drive standard setting via involvement in national 
and international bodies
— Expand dedicated in-house research 
#dbSustainability
— Foster stakeholder engagement through 
Deutsche Bank’s sustainability ambassadors
— Lead by example with holistic reporting on the 
progress of our own transformation 
UN Sustainable Development Goals – our focus
1) Sustainable financing and investment activities as defined in Deutsche Bank’s Sustainable Finance Framework and related documents, which are 
published on our website.
You can learn more about our strategy on db.com

Chief Sustainability Office
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Our achievements so far and short-term targets
As of July 2023
Facilitated EUR 254bn in sustainable financing and 
investment1) by end of Q2 2023 (cumulative since Jan. 
2020; excl. DWS)
Awarded as “Best bank for ESG 2023” for our ESG-
related trade and supply chain finance programmes at 
“Global Trade Review Leaders in Trade awards” 
Acted as joint ESG coordinator on the State of Hesse’s € 
1bn 10-year green benchmark issuance (largest green 
bond issuance by a German State so far) 
Acted as coordinating lead arranger and joint bookrunner 
of an up to $ 800m new revolving credit facility to support 
the expansion of Intersect Power LLC clean energy 
platform

Continuous refinement of divisional strategies and 
expansion of sustainability offering
Committed to net zero CO2 emissions by 2050
(founding member of Net Zero Banking Alliance)
Announced net zero aligned targets for 2030 and 2050 in 
four carbon intensive sectors
Disclosed CO2 footprint for our corporate loan portfolio of 
EUR 107bn as at year-end 2022 (30.5 Mt of CO2 e/y)
Published CO2 footprint for our European residential real 
estate loan portfolio of EUR 175bn as at year-end 2022 
(3.9 Mt of CO2 e/y)
Committed that at least 90% of the high emitting clients 
in the most carbon intensive sectors that engage in new 
corporate lending transactions shall have a net zero 
commitment from 2026 onwards
Tightened thermal coal policy effective in May 2023
Established Net Zero Forum to assess new transactions 
with significant impact on financed emissions
Updated Environmental & Social Policy Framework

Publication of DB’s Transition Plan (excl. DWS)  by 
Oct. 2023

Continuous strengthening of control process and 
frameworks (e.g. Oil & Gas policy)
CEO-led Group Sustainability Committee established, 
and Chief Sustainability Officer appointed
Sustainability-linked management board remuneration
Pathways for more female representation (35% of 
Managing Directors, Directors and Vice Presidents by 
2025) developed and on-track 
Vendors with contract value >EUR 500k p.a. required to 
provide external sustainability rating
Achieved externally communicated targets on own 
operations (e.g., energy reduction)
Joined EP100 initiative, committing to net zero 
operational carbon emissions at owned occupied assets 
globally by 2030
Launched an internal “Sustainability Hub” - single point of 
access for ESG information
Established Real Estate Sustainability Council to oversee 
targets and achievements for Own Operations
From mid-2023 new payment cards in Germany will be 
made from recycled plastic (rPVC)

Build out capabilities for deal validation, policy 
development and risk management
Hosted 2nd Sustainability Deep Dive and 3rd dbAccess
Global ESG Conference in March 2023
Announced to fund a new study into the economic 
benefits of Nature-based solutions for the ocean
Funded a chair for Sustainable Finance in the newly 
created Sustainable Business Transformation Initiative at 
the European School of Management and Technology 
Berlin (ESMT) 
Joined the Glasgow Financial Alliance for Net Zero 
(GFANZ) working group to support mobilization of private 
capital for Indonesia’s Just Energy Transition Partnership 
(JETP)
CEO assumed role in the GFANZ Principals Group

Represent Deutsche Bank at the UN Climate Change 
Conference (COP28) in Dubai
Legend
Achievements

Short-term targets
1) Sustainable financing and investment activities as defined in Deutsche Bank’s Sustainable Finance Framework and related documents, which are 
published on our website.

Chief Sustainability Office
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Disclaimer
There are currently no uniform criteria nor a common market standard for the assessment and classification of financial services and financial products as sustainable or
green. This can lead to different parties assessing the sustainability of financial services and financial products differently. In addition, there are various new regulations on
ESG (environment, social, and corporate governance) and sustainable finance, which need to be substantiated, and further draft legislation is currently being developed,
which may lead to financial services and financial products currently classified as sustainable or green not meeting future legal requirements for qualification as sustainable.
Harmonized standards and calculation methods are expected to be developed and will also improve data quality.
The transition to a sustainable economy is a long-term undertaking. In its current stage, we are confronted with the limited availability of reliable data, esp. climate related
data. It is inevitable to use estimates and models until improved data will become available. Our expectations on the increase of data quality are based on reporting
obligations as currently developed. New regulations on reporting will likely become effective in the coming years.
This presentation includes metrics that are subject to measurement uncertainties resulting from limitations inherent in the underlying data and methods used for determining
such metrics. The selection of different but acceptable measurement techniques can result in materially different measurements. The precision of different measurement
techniques may also vary. The information set forth herein is expressed as of end of July 2023 and we reserve the right to update its measurement techniques and
methodologies in the future.
In addition, this presentation contains financial and other information which has been derived from publicly available information disclosed by persons other than us
(“external data”). In particular, external data has been derived from industry and customer-related data and other calculations taken or derived from industry reports
published by third parties, market research reports and commercial publications. Commercial publications generally state that the information they contain has originated
from sources assumed to be reliable, but that the accuracy and completeness of such information is not guaranteed and that the calculations contained therein are based on a
series of assumptions. The external data has not been independently verified by us. Therefore, we cannot assume any responsibility for the accuracy of the external data
taken or derived from public sources.
Past performance and simulations of past performance are not a reliable indicator and therefore do not predict future results.
This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs
and expectations and the assumptions underlying them. These statements are based on plans, estimates, and projections as they are currently available to the management
of Deutsche Bank Aktiengesellschaft. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any
of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from
those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the USA, and elsewhere from which
we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential
defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures, and methods, and
other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our most recent SEC Form 20-F under the
heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded (Investor Relations).