Press Release from 2021-02-09 / Group, Sustainability
KfW maintains focus on climate protection even in times of crisis
- KfW Group presents SDG mapping of all 2020 financing commitments
- Financing to support the economy more than doubled due to the pandemic
- Contributions to Climate action (SDG 13), Affordable and clean energy (SDG 7) and Sustainable cities and communities (SDG 11) also increased by more than 50%
- KfW Group is exploring options to establish SDG-linked impact management
Today KfW Group publishes the results of mapping the group-wide financing commitments made in 2020 to the United Nations’ Sustainable Development Goals (SDGs). KfW’s most significant SDG contributions in the 2020 financial year were:
- SDG 8 – Decent work and economic growth: In the course of pandemic-driven economic support measures, KfW made financing commitments of EUR 71.9 billion. Compared to the previous year (2019: EUR 28.1 billion), this was an increase of 156%.
As a bank committed to responsibility with a broad promotional mandate, KfW ensured that its significantly increased global financing commitments in 2020 will benefit additional goals essential for building a sustainable future.
- SDG 11 – Sustainable cities and communities: Commitments amounted to EUR 46.0 billion – an increase of 58% when compared to the previous year (2019: EUR 29.0 billion).
- SDG 13 – Climate action: Commitments amounted to EUR 43.2 billion – an increase of 53% compared to the previous year (2019: EUR 28.2 billion).
- SDG 7 – Affordable and clean energy: Commitments amounted to EUR 40.5 billion – also an increase of 53% compared to the previous year (2019: EUR 26.4 billion).
“Sustainability is not limited to its ecological dimension; economic and social dimensions also play a part. So in view of the pandemic, we quickly and flexibly contributed to economic stability in Germany and across the world”, explains Dr Günther Bräunig, CEO and Chief Sustainability Officer of KfW Group. The result of KfW’s SDG mapping shows more than just the special role that the promotional bank has taken on since the coronavirus pandemic began. “It also illustrates how consistently we, as a bank committed to responsible action, have expanded our involvement in climate protection and fostering transformation in Germany and worldwide. Despite the pandemic, we have not lost sight of the climate-friendly economic and social transformation”, emphasises Bräunig.
In 2019, KfW Group began publishing its annual SDG mapping, which it uses to link annual new commitments to the 17 Sustainable Development Goals (SDGs). There is no established standard for disclosing SDG contributions in the financial sector to date. KfW thus created its own approach, which takes into account around 1,500 indicators (purpose of loans, etc.) to map its yearly new commitments to the SDGs. This largely automated approach made KfW a pioneer in transparent disclosure of SDG contributions in the financial sector.
SDG mapping provides important indications for KfW’s advancement as a transformative promotional bank. The promotional bank is currently analysing how group-wide SDG mapping combined with improved impact monitoring can also be used for the strategic management of the group in the future.
KfW’s Sustainability Report, expected in April 2021, will provide more in-depth insights into the further development of impact management.
You can find further information and detailed figures about KfW Group’s SDG mapping here:
There you will also find links that lead to the contingents of KfW’s individual business areas and subsidiaries (domestic promotional business, KfW Development Bank, DEG, KfW IPEX-Bank and KfW Capital)
Explanations on the SDG-Mapping methodology developed by KfW: