Deutsche Bank (DB) is the largest bank in Germany. It offers a range of financial services such as cash management, asset management, securities issuance and conventional banking service. People usually think that as a financial institution, money is the only thing they think about. However after we study DB, we find their corporate social responsibility initiative around the globe has contributed a lot to build social capital in all regions in which the bank operates.
Include your study of this company on the WeDreamBusiness.org directory.
a) the main facts about the activities of the company.
Deutsche Bank?s global corporate social responsibility activities are controlled by the Communications & CSR function, which in turn reports to the Chairman of the Management Board. The CSR strategy is focuses on the five main areas of sustainability, corporate volunteering, social investments, art & music and education. All the programs are implemented locally by Deutsche Bank?s regional teams and supported by the bank’s independent foundations. This enables it to ensure that the bank acts as a responsible corporate citizen in the countries in which it is represented.
Deutsche Bank’s motto is ?Passion to Perform ?, for them, performance includes demonstrating social responsibility. They view it as an integral part of their work. There were about 100 million Euros in 2010 to support CSR initiatives around the world. Deutsche Bank?s corporate social responsibility initiatives around the globe would like to contribute to building social capital in all regions in which the Bank operates.
Sustainability??Deutsche Bank regards sustainability as an essential element of its activities ? in its core business and beyond. It wants to pass on a healthy environment as well as stable economic and social conditions to future generations.
Corporate Volunteering??Pass on your passion: Passion to perform can achieve when it is passed on ? in business and beyond. For instance, during the modernization of the former military base Governors Island near New York.
Social Investments??Aid for the most vulnerable people and disadvantaged communities: There is no alternative to this obligation. DB helps in various ways, whether through the personal commitment of its employees, the use of its networks, or innovative finance models.
Art & Music??A vital cultural life needs an audience as well as young, creative talent. Deutsche Bank provides access to art and music, and supports aspiring artists.
Education??For society and business alike, people?s knowledge, skills, and social competence are decisive resources. Every investment in them is an investment in the future. Supporting opportunity and achievement is a fundamental requirement for sustainable prosperity and social cohesion.
Here are some real case want to share with you.
- Health centers for Haiti:
Following the catastrophic earthquake in Haiti, Deutsche Bank Foundation supports health centers in Haiti that will be set up in cooperation with the German humanitarian aid organization and the relief funds of ?160,000 will go to providing the essential equipment for the health centers that are being built in Haiti?s districts, which were hit hard by the devastating earthquake on January 12, 2010. - Promoting good reading in Chinese village schools
Deutsche Bank Asia Foundation partners with the Green and Shine Foundation to promote good reading practices in village schools in China. With support from the Bank, more than 260 volunteers will be contributing around 48,000 hours to the program in 10 selected village schools. The number of village students, teachers and parents benefiting from the program is estimated to be over 3,000. - Help for East Africa
Deutsche Bank, its foundations, staff and clients make donations of more than 900,000 Euros for East Africa. All donations are used for urgent relief in Somalia, Kenya, Ethiopia and Djibouti.
b) The ethical challenges this company is addressing.
Deutsche Bank didn?t reduce investment in corporate social responsibility when financial crisis came. Deutsche Bank and its affiliated foundations had invested more than 200 million Euros in the recent two years, mainly the region of education, social welfare activities, environment protection and sustainable development projects, arts activities volunteers.
DB realized that the challenge of money is easy to quantify and measure, but the human input need to pay more efforts. The employees are our most important resource. Deutsche Bank wants to offer them an attractive work environment and individual development prospects. With regard to the social issues of our sustainability strategy, the primary focus areas are Deutsche Bank?s responsibility as an employer, the company?s commitment to human and labor rights and the health and safety of our staff.
And many charitable organizations cannot perforce as well as they wanted because of the political reasons or corruption, so some people may doubt that these donations are not able to use all in their mind. In fact, DB has a special department in charge of the affairs, and set up seven special charitable fund projects, including arts, sports, environment protection and so on. In addition, DB picked the proper partner to help them manage these funds. Dedicated staff were concerned in whether the social welfare activities can operate normally, what can make DB have good control to ensure all of our actions open and fair, and can really take effect.
c) What makes you believe this company is really ethical and why you trust it.
Deutsche bank is one of the largest financial institutions in Germany. Not only does it take a social role as a banker, it also considers CSR a very important task. According to ?Highlights of Deutsche?s Corporate Citizen Commitment?, it clearly states that ?Deutsche Bank regards CSR as an investment in society and its own future.?
It invested 98.1 million euro and involved in more than 3,000 social projects worldwide in 2010. The number of Deutsche’s participants has increased by 230% since 2007. By looking at some figures, it is clear that Deutsche bank put significant effort to contribute to society and creates ethical images as trusted citizen.
- 5 million euro investment to support academic develop, and scientific research.
- 4.5 million investment was allocated to education and social projects.
- Approximately 1,300 colleagues participated in ?Financial Literacy initiative? to improve young people?s financial competence.
- 5.8 million US dollar donation for earthquake in Haiti
- 1 million US dollar donation for earthquake in Chile
From these number, we may find that Deutsche Bank really contribute to the society. Not only is it interested in own profit, it put so much effort and capital to contribute to the society. Especially, it put remarkable investment in the education where Deutsche bank considers as ?future investment?. Moreover, it quickly responses to any natural disaster worldwide and donate significant amount.
By looking at the fact and figures, it is without doubt that Deutsche bank is one of the most ethical companies in the world.
d) The possible challenges facing the company in the future and how you think this company may improve.
After the financial and economic crisis in 2008, CSR has become a central issue to banks. It has fuelled doubts in many people whether the quest for profits and ethical principles, or markets and moral are compatible. People become angry about banks, doubt their business and professional virtue. They criticize the lack of ethics in business, among enterprises and managers, and especially among banks and bankers. However, banks require people?s trust and acceptance which means they need to have good relationship with people and society. The trust crisis will diminish banks standing and the standing of free markets. Furthermore, the loss of trust will harm not only companies and managers but also the banks all over the world.
So I think as a leading bank in the world, DB should lead other banks and financial institute to show their responsibility to the society. DB could organize the banks and financial institutes to be a group, discussing the social responsibility, discussing the environment protection, discussing the honesty and faith. Getting other?s power to show the banks attitude and their promise to people which will contribute to re-build the reputation of banks and finance. And by this way to share some CSR information with other banks and also learns from others.
Start a new discussion
3 Discussions / 4 Messages