German investment giant Deutsche Bank will be advised by World Wildlife Fund (WWF) on issues of sustainability from now on, both firms announced.
Deutsche Bank's private client bank agreed on an initial two-year cooperation with the environmental non-profit organization.
Deutsche Bank said in a press release that they will work together to help advance its sustainable finance area, in line with the bank's broader sustainability strategy.
Philipp Gossow, Head of Sustainability at the private client bank said: "The financial sector plays a key role in the sustainable transformation of our economy and society." He added that the bank wanted to expand its expertise on sustainable finance products.
Heike Vesper of WWF Germany said: "The ecological transformation will only succeed if banks actively shape the transformation of the economy and society."
Two focal points of the cooperation will be housing - particularly regarding energy-efficient building renovation - and advice on sustainable investments.
Given the rapid advance of climate change and subsequent increase in abnormal weather-related disasters, scientists, activists and politicians are calling for urgent action on climate issues.
The financial sector has been gradually transitioning to more climate-friendly practices, although climate activists often criticize these efforts as so-called "greenwashing."
This refers to companies using marketing spins to convince their clients that they are offering environmentally-conscious services or products.
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