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Commerzbank is Germany’s second-largest bank. They are mainly active in commercial banking, retail banking and mortgaging. However, investment banking, equities, and corporate banking operations are now integrated divisions of the Commerzbank group.

Commerzbank has commited itself to several voluntary international initiatives like the UN Global Compact, the Carbon Disclosure Project, the Global Reporting Initiative, etc.  Commerzbank is also a corporate member of Transparency International. The bank has drawn up guidelines and policies in relation to human rights, conflict zones, fossil fuels, power generation, indigenous peoples, agriculture, forestry, mining, and toxic substances. With this, the bank at least demonstrates an increased awareness in relevant areas, both inside and outside Germany.

Commerzbank’s “weapon guidelines” prohibit any direct participation in delivering  weapons or military equipment to areas of conflict and tension. However, Commerzbank still provides financial services to Rheinmetall, which produces and exports the main battle tank Leopard 2 to areas where human rights are scantily respected, i.e., Saudi Arabia and Indonesia. Moreover, Commerzbank is self-committed not to perform financial transactions related to “controversial weapons” (including cluster munitions and nuclear  weapons).

With its participation in the UN Global Compact, Commerzbank is committed to not violating human rights through its business activities. This stance is clearly in contradiction to the bank’s transactions with mining companies Anglo American and Glencore. Similarly, Commerzbank claims not to participate in transactions related to oil-tar sands or similar controversial extraction methods of oil and gas. However, Commerzbank should scrutinize its investments in ENI, as this company is on the brink of tar sands exploration in the DR Congo.

The above policy information is correct as at the publication date of Dirty Profits 2 (December 2013).

Commerzbank was once again included in the Dirty Profits 4 report, details of the financial ties to selected controversial companies can be found within the report and detailed data tables from the research period 2013-2015 can be downloaded here.

Detailed information related to Commerzbank’s financial ties to controversial companies in Dirty Profits 3 is available to download. The data is correct as at publication of Dirty Profits 3, November 2014. Full data tables are available here.

Detailed information related to Commerzbank’s financial ties to controversial companies in Dirty Profits 2 is available to download. This data is correct as at publication of Dirty Profits 2, November 2013. Full data tables are available here.

In Dirty Profits 1, Commerzbank ranked sixth in harmful investment transactions with a total of €1.996 billion invested in 19 of the 28 controversial companies investigated in the PROFUNDO report.

For detailed information regarding the companies that Commerzbank was invested in, between 2010 and 2012, please refer to the PROFUNDO research report links below. The PROFUNDO report, (conducted between 2010 and 2012), analyzes the investments between Commerzbank(and many other financial institutes) and controversial companies.

PROFUNDO – Underwritings of Shares and Bonds


PROFUNDO – Management of Shares and Bonds