Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 91

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 91
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 2025. Whether this will be accepted will depend on agreement with the Commission and the co-legislators. In November 2024, the President of the European Commission Ursula von der Leyden announced the intention for an ‘Omnibus Directive’ to reduce regulatory burdens on businesses by at least 25% – especially via Taxonomy Regulation, CSRD and Corporate Sustainability Due Diligence Directive (‘CSDDD’). The package was announced for February 26, 2025. Although the CSRD was not transposed into German law as of December 31, 2024, the bank voluntary applied ESRS as reporting framework for the Sustainability Statement 2024 as allowed by Section 315c (3) HGB in conjunction with Section 289d HGB. Environmental legislation –The EU Deforestation Regulation issued in June 2023 requires companies trading in cattle, cocoa, coffee, oil palm, rubber, soya and wood - and products derived from these commodities (i.e. meat products, leather, chocolate, glycerol, soybeans, wood products i.e., books) to conduct extensive due diligence on the value chain. The due diligence is to be conducted by any operator or trader who places these commodities in the EU market or exports from it and must be able to prove goods do not originate from recent (post December 31, 2020) deforestation, forest degradation or breaches of local environmental or social laws. This rule repeals the EU Timber Regulation. On October 2, 2024, the European Commission proposed a 12-month delay in implementation of the Deforestation regulation, which was scheduled to apply from December 30, 2024. On October 16, 2024, the European Council agreed with the European Commission's position on the targeted amendment of the EU deforestation regulation, with now the European Parliament to finalize the amendments. The regulation is set to be formally adopted by both co-legislators and published in the Official Journal of the EU so that it can enter into force by the end of 2025. Anti-greenwashing legislation– On August 21, 2024, ESMA published the translation in all official EU languages of its Guidelines on funds’ names using ESG or sustainability-related terms. The Guidelines aim at protecting investors against unsubstantiated or exaggerated sustainability claims in fund names, with an application date of November 21, 2024. The transitional period for funds existing before the application date is until May 2025. Any new funds created