DZ Bank response re- new Resource Centre report on migrant worker abuse on renewables projects in Saudi Arabia
Due to legal reasons we cannot comment on potential, existing or former client relationships.
DZ BANK is aware of its responsibility for people, the environment and corporate governance. Our commitment to environmental and social issues is regularly confirmed by renowned sustainability rating agencies, including ISS ESG and MSCI ESG Research.
DZ BANK has been a signatory to the UN Global Compact since 2008 and to the Equator Principles since 2013. These commitments and guidelines are integral to our business activities. In one of our core activities, the lending business, we have already been systematically reviewing lending operations for relevant sustainability aspects – as well as aspects related to human rights – for many years. To this end, every business activity is subject to a detailed sustainability assessment, which includes exclusion criteria and sector principles, as well as a comprehensive ESG checklist and an assessment of sustainability risks. In line with our exclusion criteria, for example, we do not finance companies that violate the UN Global Compact, the UN Guiding Principles on Business and Human Rights, ILO core labor standards, or other internationally recognized principles…With reference to our internal guidelines and processes, we clearly reject allegations that DZ BANK knowingly finances projects with provable links to human rights violations…