Deutsche Bank rolls out green deposits for corporates
By Megha Bhattacharya
Deutsche Bank today announced the launch of a green deposits programme for its corporate clients. The new cash management solution will be in form of term deposits for under 12 months. Deutsche Bank’s green asset pool may include loans to companies and projects which support the transition to clean energy sources and to an energy-efficient and environmentally sustainable global economy.
“The new programme is an important step on our journey into ESG as a cash management provider. It marks the first of many cash management products we’ll look to introduce as part of the bank’s sustainability framework”, said Ole Matthiessen, Head of Cash Management at Deutsche Bank. “Linking our clients’ liquidity requirements with their sustainability goals is a huge achievement, one that we’re very proud of and something we’ll continue to build on as a liquidity solutions provider in the future”, explained Johnny Grimes, Head of Liquidity Product, Transactional FX at Deutsche Bank.
According to the Bank, it follows a three-step process to identify eligible green assets within these sectors, including a pre-selection process to identify eligible loans in the portfolio; an internal validation process, whereby the Deutsche Bank Green Financing Forum confirms whether the selected assets comply with the bank’s framework; and an external verification process by a reputable third party.
Recently, Deutsche Bank and Mastercard announced the expansion of their partnership in a bid to boost developments in digital payments for its clients. The collaboration will enable companies to offer their products and services to new customer demographics, to develop digital business models and expand sales channels in Germany and beyond.
IBSi Daily News Analysis
May 20, 2022
Will Web 3.0 unlock the future potential of FinTech?Read More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
May 20, 2022