Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 93

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 93
---
-related financial statement footnote disclosures. California Bill AB 1305, which became effective on January 1, 2024, requires companies that operate within California and make certain claims within California regarding carbon neutrality, net zero or reduction of greenhouse gas emissions, and companies purchasing or using carbon offsets in addition to making such claims, to disclose information on the accuracy of the claim, interim progress measures, third-party verification and, if applicable, information on the carbon offsets purchased and emissions data by January 1, 2025. AB 1305 also requires certain factual disclosures from companies that market or sell carbon offsets within California. Sustainability Due-Diligence– At an EU level, the CSDDD was provisionally agreed by the Member States and the European Parliament in December 2023 and finalized in July 2024. The CSDDD outlines obligations for corporations to identify, mitigate, minimize and prevent adverse impacts on the environment and human rights for their business chain of activities. Member States are currently in the process of issuing national transpositions of this law, which must occur by July 2026. CSDDD will begin applying to certain companies in July 2027, with other categories of companies subject to CSDDD requirements beginning in July 2028 and July 2029. In Germany, the Supply Chain Due Diligence Act (SCDDA or Lieferkettensorgfaltspflichtengesetz/LkSG) has been in place since January 1, 2023, with first reporting for 2023 originally due by April 30, 2024, but extended until December 31, 2025, to align with CSRD-ESRS requirements. After CSDDD was published in the EU Official Journal, amendments to SCDDA were proposed by the Bundestag, but the proposal is currently on hold and will be reviewed following German elections. On October 25, 2024, the German Federal Office for Economic Affairs and Export Control announced that it will not be reviewing the submission and publication of reports under SCDDA until January 1, 2026. Whilst the failure to submit the reports will not be penalized, other due diligence obligations under SCDDA remain in place and will be penalized if violations occur. In early 2025, the French government asked the European Commission to indefinitely delay implementation of the CSDDD. It is unclear what, if anything, the European Commission will do in response to this request.

| 56 |

| Deutsche Bank                   |
| Annual Report 202