Corporate Responsibility Report 2011

One Bank. One Partner. One Future. Corporate Responsibility Report 2011 Achieving more together U1 About this report This Corporate Responsibility Report 2011 aims to explain how Commerzbank perceives the principle of corporate responsibility and how it applies this understanding in respect of its business processes, business model, employees and corporate citizenship. The report is directed at all Commerzbank’s stakeholders (see page 8). It refers to Commerzbank AG Germany and covers all activities in 2010. However, other related events right up to the editorial deadline on 30 June 2011 have also been included. With a few exceptions (which are indicated accord- ingly), the key data also refers to 2010. Information on selected subsidiaries such as BRE Bank, the comdirect Group and Eurohypo has been included as an illustration of corporate responsibility in the Commerzbank Group. Transparent and comparable reporting This is Commerzbank’s fourth Corporate Responsibility Report. It has again been compiled in accordance with the G3 guidelines published by the Global Reporting Initiative (GRI) in order to improve comparability and thereby increase transparency. This is now the second Corporate Responsibility Report published by Commerzbank that GRI has checked and confirmed as satisfying the requirements of the highest category, Application Level A (see page C3). At the same time, the indicators described in the report meet the requirements for a “Communication on Progress”, a report providing information on the implementation status of the ten principles set out in the UN Global Compact (UNGC). An overview of the progress made by Commerzbank in implementing the ten UNGC principles is shown in a table beginning on page 86. Qualitative and quantitative report content: selection and preparation When selecting the content of this report, Commerzbank applied the principle of materiality and focused on topics relevant to an assessment of its sustainability performance. To this end, the Bank carried out a materiality test as required by the GRI guidelines. A two-day series of workshops was held, each workshop concentrating on a particular theme. At these workshops, an evaluation was carried out for Commerzbank’s various corporate units to identify the topics and sustainability indicators of particular significance for the Bank itself and for its stakeholders. The chosen topics form the focus of the report. The key data in the report relates to Commerzbank AG in Germany, unless stated otherwise. The data has been gathered from individual departments or, in the case of the environmental data, using the environmental management system and compiled by the Reputation and Sustainability Management department. Formal aspects To make the report reader-friendly, we have avoided gender-based repetition in the text. Generally, we have also decided not to include full legal names of subsidiaries and not-for-profit organisations, again for better readabil- ity. The Corporate Responsibility Report 2011 is available in German and English and can be accessed online http://sustainability2011. at http://sustainability2011.commerzbank.com either as an interactive report or as a download. All Corporate commerzbank.com Responsibility Reports, together with additional and continuously updated information related to the issue of www.nachhaltigkeit. sustainability, can be found on Commerzbank’s Internet portal “Sustainability” at www.nachhaltigkeit.commerz- commerzbank.de bank.de. This printed report is published every two years; the next report will appear in 2013. In the intervening years, any significant data and relevant developments are published in an online interim Status Report. One Bank. One Partner. One Future. P38 The switch to renewable energy sources is here; Germany is phasing out nuclear power. What does this mean in a global economy? What ground rules will be needed in the future? The issues are discussed by Ottmar Edenhofer, Potsdam Institute for Climate Impact Research, Martin Iffert, Trimet Aluminium AG, and Jan-Philipp Gillmann, Head of Commerzbank’s Center of Competence Renewable Energies. P4 Editorial P24 Profit with a good conscience Sustainable products and services P6 Sustainability at Commerzbank P26 Employees P10 Mittelstandsbank P26 “A fabulous thing” P10 Boost for small and medium-sized businesses (SME) Anke Sax and Thomas Bothe on 1,000 days of integration Commerzbank – a loyal partner even in times of crisis P30 Best opportunities for bright stars P14 Second chance Talent management for a secure future Michael Schmid on his role as credit mediator P32 “Good orchestras are best when mixed” P16 Energising force Christine Weiner on the advancement of women Focus on renewable energy sources P35 Praise for the mentor P18 Customer profile: Trimet Aluminium AG Silke Witter on the self-mentoring system Save energy, stay competitive P36 Women in management positions DAX 30 declaration P20 Private customers P37 Success with diversity Active diversity management for an open corporate culture P20 Solutions through mediation Talking to customer advocate Andrea Habermann P38 Environment P22 Valuable answers Customer satisfaction is a boardroom issue P38 “We can become the global innovator” Panel of experts on Germany’s shift in energy policy 2 Corporate Responsibility Report 2011 P56 P48 P54 Environmental protection is a managerial task. The Group Environmental Commit- Commerzbank’s social responsibility includes support for tee was established in 2010 as a link between the Board of Managing Directors and women’s and girls’ football – and not only since the FIFA the Bank’s units. Frank Annuscheit, chairman of the committee and member of the Women’s World Cup in Germany. Board of Managing Directors, offers an interim appraisal. P46 Concentration of expertise to support the switch P63 Groundbreaking partnerships to renewables Public-private partnerships for the arts Profile of the Center of Competence Renewable Energies P64 Tradition stronger than ever P48 “Ambitious objective is achievable” The foundations and their many and varied activities Questions on environmental management to Frank Annuscheit, member of the Board of Managing Directors P65 Compliance P50 Ambitious climate targets Climate strategy highlights P65 Transparency – not only “for the record” P53 “We are worried about a distortion of competition” Interview with Caspar von Hauenschild, Board Member Guest author Stefan Mast, Lufthansa AG, on aviation and Transparency International Deutschland emissions trading P66 “No opportunity for corruption” Oliver Jost, Divisional Board Member for P54 Society Group Compliance, on combating corruption P54 Enthusiasm for women’s football P67 Compliance, Corporate Governance, Commerzbank supports FIFA Women’s World Cup and Risk Management talented young players P56 “Business can learn from sport” P72 Major Group companies Interview with Steffi Jones P58 “Model collaboration” P76 Sustainability performance in accordance Interview with Susanne Gaensheimer, with GRI index Director of MMK Frankfurt 3 Martin Blessing Chairman of the Board of Managing Directors this report, which bears the title “One bank, one partner, one future”, highlights how, across all our business operations, we fulfil our corporate responsibility within the overall social context. Specific examples of projects and products provide a detailed illustration of how we aim to secure a successful future not only for our own banking business but also for our customers and employees. Our commitment to renewable energies demon- strates that Commerzbank pursues a far-sighted and responsible approach to the issues of the future. By the mid-1980s, we were already one of the pioneers in the funding of wind energy projects in Germany. As a bank, we are both willing and able to provide substantial support for the wider use of renewable energies, triggered by the shift in Germany’s energy policy following the official decision to phase out nuclear power by 2022. We therefore decided to expand our renewable energies loan portfolio in 2011 by €1 billion to well over €5 billion and to double it over the next few years. In addition, following the German government’s decision to revise its energy policy, we spontaneously organised a round-table discussion – the details of which are documented in this report – on the subject of “Energy efficiency and renewable energies”, highlighting the many various aspects, the opportunities and the risks involved. The issue of nuclear energy and the switch to renewable energy sources was also discussed with other stakeholders: for example, at our head office, with the representatives of both international non-governmental organisations and of many German and other European banks, and with representatives of the world of business and politics, in connection with our “Commerzbank in dialogue” series held in Berlin. In terms of our company, key achievements in the period under review were the successful completion of the integration of Dresdner Bank in around 1,000 days and the further systematic development of the core bank (with its four segments Private Customers, Mittelstandsbank, Corporates & Markets and Central & Eastern Europe). Following the largest rights issue in German history, we were also able to repay 90 per cent of the deposits from Germany’s Financial Market Stabilisation Fund (SoFFin). I should like to take this opportunity to specifically thank all employees most emphatically for their extraordinary degree of effort and commitment, without which

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