DZ HYP publishes Sustainability Report 2023
29.08.2024
DZ HYP has published its Sustainability Report for the 2023 financial year today, highlighting significant progress towards its sustainability goals. Jörg Hermes, member of DZ HYP’s Management Board, commented: "Our ambitious goal is to maintain DZ HYP’s profitability while prioritising sustainable practices. We reached key milestones during the 2023 financial year, such as further enhancing transparency in the Bank’s credit portfolio to promote sustainable lending."
In terms of funding, DZ HYP solidified its position as an issuer of Green Pfandbriefe during the financial year under review, primarily through benchmark issues in the primary market. The total volume of outstanding Green Pfandbriefe amounted to €3.0 billion as at year-end 2023.
One major achievement for DZ HYP was the development of climate target pathways for its portfolios. The Bank plans to reduce emissions in its corporate clients portfolio by 7 per cent by 2026 and by 36 per cent by 2030. For its retail portfolio, the goal is a reduction of 11 per cent by 2026 and 41 per cent by 2030.
In the Retail Customers segment, DZ HYP introduced the “VR BaufiEco” product, offering an attractive interest rate discount for financing privately-used real estate with a maximum energy consumption of 50 kWh/m² per year.
DZ HYP also introduced an ESG ranking for municipalities during the year under review, integrating the sustainability performance of public-sector clients into the risk assessment. The ranking considers factors such as the United Nations’ 17 Sustainable Development Goals and the EU taxonomy.
More detailed information on DZ HYP’s initiatives and achievements during the year under review is available in its Sustainability Report 2023.
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