Sustainable corporate governance
A legally compliant and socially acceptable corporate governance forms the basis of the economic success of the Deka Group, as well as for the fostering of sustainable development. Important principles and elements of sustainable corporate governance are documented in the following. These include, in particular, the management of sustainability-related reputational risks, as well as the question of how to develop and implement viable measures to improve the sustainability performance of the Deka Group as part of systematic idea and innovation management. ESG rating agencies provide honest feedback on the sustainability-related measures of the Deka Group, with independent analyses and evaluations of our services.
Management of sustainability-related reputational risks
Basic information in the Sustainability Report 2025
You can find information on this topic in the Sustainability Report 2025 from p. 107.
Supplementary information
The interdependencies between ESG and reputational risks are taken into account by means of holistic reputational risk management. To be able to counter reputational risks effectively and consistently, the Deka Group has established a groupwide uniform methodology and governance for the management of reputational risks in connection with its business activities. In this context, ESG-driven reputational risks are taken account of as part of the risk inventory and business processes.
Three-Lines-of-Defense Model (3LoD Model) for the management of ESG risks
ESG-driven reputational risks are explicitly reflected as basic risk scenarios in the reputational risk management and are part of the strategic corporate governance in the form of risk quantification. Apart from dealing with the status quo, the Deka Group ensures the proactive management especially also of ESG-related reputational risks. On the basis of the 3LoD Model, 1LoD identifies the reputational risk inherent in the activities it is responsible for and carries out an initial assessment – for address risks with incorporation of 2LoD as a back-office function. If a set risk level is exceeded, a business activity may no longer be approved. If 1LoD continues to pursue its plan, 2LoD – in this case in the reputation management function – must carry out an independent second assessment of the business activity. If this confirms a significantly high critical level from the point of view of the corporate group, the Board of Management holds the final approval authority.
The reputational risk management mandate for the independent second assessment is handled in joint responsibility by the Non-Financial Risk and Board Staff & Communications units in the Reputational Risk Task Force. Their mandate comprises the independent and objective assessment of the short-term to medium-term consequences of all relevant business activities for the reputation of the Deka Group with regard to its stakeholders. For activities that are considered critical, there is a reservation of authority by the Board of Management or, in the case of subsidiaries, a reservation of authority by the management. This includes assessing the appropriateness of the transaction in light of the Deka Group’s key corporate ethics principles (see reputational risk tolerance, below).
Definition of a reputational risk tolerance
You can find information on this topic in the Sustainability Report 2025 from p. 107.
Supplementary information
The interdependencies between ESG and reputational risks are taken into account by means of holistic reputational risk management. To be able to counter reputational risks effectively and consistently, the Deka Group has established a groupwide uniform methodology and governance for the management of reputational risks in connection with its business activities. In this context, ESG-driven reputational risks are taken account of as part of the risk inventory and business processes.
Three-Lines-of-Defense Model (3LoD Model) for the management of ESG risks
ESG-driven reputational risks are explicitly reflected as basic risk scenarios in the reputational risk management and are part of the strategic corporate governance in the form of risk quantification. Apart from dealing with the status quo, the Deka Group ensures the proactive management especially also of ESG-related reputational risks. On the basis of the 3LoD Model, 1LoD identifies the reputational risk inherent in the activities it is responsible for and carries out an initial assessment – for address risks with incorporation of 2LoD as a back-office function. If a set risk level is exceeded, a business activity may no longer be approved. If 1LoD continues to pursue its plan, 2LoD – in this case in the reputation management function – must carry out an independent second assessment of the business activity. If this confirms a significantly high critical level from the point of view of the corporate group, the Board of Management holds the final approval authority.
The reputational risk management mandate for the independent second assessment is handled in joint responsibility by the Non-Financial Risk and Board Staff & Communications units in the Reputational Risk Task Force. Their mandate comprises the independent and objective assessment of the short-term to medium-term consequences of all relevant business activities for the reputation of the Deka Group with regard to its stakeholders. For activities that are considered critical, there is a reservation of authority by the Board of Management or, in the case of subsidiaries, a reservation of authority by the management. This includes assessing the appropriateness of the transaction in light of the Deka Group’s key corporate ethics principles (see reputational risk tolerance, below).
Definition of a reputational risk tolerance
The business and risk strategy of the company constitutes the assessment framework for these votes, which is further complemented by an explicit reputation risk tolerance - analogous to the concept of risk appetite - as an operative guidance framework for the careful handling of particularly sensitive areas of business activities, from a reputational risk point of view. The reputation risk tolerance reflects stakeholder expectations, the company's value system, market practices, and (geo-)political constellations, as well as its own corporate strategic objectives. It translates the overarching guidelines of the group into the various governance requirements of the business.
The aim of this measure is not only to ensure a consistent outward image that is more transparent to stakeholders, but also to reinforce the effectiveness of corporate ethical principles with regard to employees and thereby foster an effective risk culture.
Further information
No further information is currently available on this specific topic.
No further information is currently available on this specific topic.
Taxes
Basic information in the Sustainability Report 2025
There is no information on this specific topic in the Sustainability Report 2025.
Supplementary information
General principles
As part of the Sparkassen-Finanzgruppe with its public-law sponsorship, the Deka Group fully complies with all requirements under tax law, in all relevant business activities and in all its companies. Wherever it operates, the Deka Group complies with the applicable tax laws and regulations with regard to its own tax liabilities and all banking services and products offered.
The Deka Group unequivocally refutes offensive tax evasion strategies and profiting economically from its own tax status, Artificial, abusive tax structuring without non-tax substance and without a business basis is not carried out by foreign subsidiaries, branches and representative offices either in Germany or abroad.
The stated principles reflect the tax compliance culture of the Deka Group as part of its Tax Compliance Management System (Tax CMS). The Tax CMS was last certified in the year 2023 by an external assessor in terms of its appropriateness and effectiveness in accordance with the principles of proper auditing of compliance management systems of the Institute of Public Auditors in Germany (IDW PS 980).
Group transfer prices
The Deka Group consists of DekaBank Deutsche Girozentrale (DekaBank) and its domestic and foreign subsidiaries. In addition, it runs sites and has representatives abroad. The Deka Group is committed to the basic principle that the profits of a company should be taxed where value is created. The business relations with its local foreign units are organised according to the Arm’s Length Principle and the regulations of international tax law, as well as local tax laws.
The activities within the Deka Group are calculated as source-specific with the help of the cost-plus method. In justified exceptional cases, there is a deviation from the cost-plus method in favour of the profit-split method. The internationally applicable transfer price regulations are observed for all decisions in order to set proper transfer prices that are accepted by all the involved tax authorities. In Germany, the transfer prices are reviewed annually as part of the company audit by the Federal Central Tax Office.
Low-tax countries and preferential tax regime locations that offer tax benefits for business relocations are avoided. Nor is any income generated from low-tax countries or preferential tax regime locations as defined by the Foreign Tax Act. These principles are implemented by means of numerous written directives and procedures for the fulfilment of tax duties, with clear assignments of responsibility and with concrete instructions and guidelines for the employees. In accordance with this, the following actions, alongside others, are not permitted:
There is no information on this specific topic in the Sustainability Report 2025.
Supplementary information
General principles
As part of the Sparkassen-Finanzgruppe with its public-law sponsorship, the Deka Group fully complies with all requirements under tax law, in all relevant business activities and in all its companies. Wherever it operates, the Deka Group complies with the applicable tax laws and regulations with regard to its own tax liabilities and all banking services and products offered.
The Deka Group unequivocally refutes offensive tax evasion strategies and profiting economically from its own tax status, Artificial, abusive tax structuring without non-tax substance and without a business basis is not carried out by foreign subsidiaries, branches and representative offices either in Germany or abroad.
The stated principles reflect the tax compliance culture of the Deka Group as part of its Tax Compliance Management System (Tax CMS). The Tax CMS was last certified in the year 2023 by an external assessor in terms of its appropriateness and effectiveness in accordance with the principles of proper auditing of compliance management systems of the Institute of Public Auditors in Germany (IDW PS 980).
Group transfer prices
The Deka Group consists of DekaBank Deutsche Girozentrale (DekaBank) and its domestic and foreign subsidiaries. In addition, it runs sites and has representatives abroad. The Deka Group is committed to the basic principle that the profits of a company should be taxed where value is created. The business relations with its local foreign units are organised according to the Arm’s Length Principle and the regulations of international tax law, as well as local tax laws.
The activities within the Deka Group are calculated as source-specific with the help of the cost-plus method. In justified exceptional cases, there is a deviation from the cost-plus method in favour of the profit-split method. The internationally applicable transfer price regulations are observed for all decisions in order to set proper transfer prices that are accepted by all the involved tax authorities. In Germany, the transfer prices are reviewed annually as part of the company audit by the Federal Central Tax Office.
Low-tax countries and preferential tax regime locations that offer tax benefits for business relocations are avoided. Nor is any income generated from low-tax countries or preferential tax regime locations as defined by the Foreign Tax Act. These principles are implemented by means of numerous written directives and procedures for the fulfilment of tax duties, with clear assignments of responsibility and with concrete instructions and guidelines for the employees. In accordance with this, the following actions, alongside others, are not permitted:
- Support for transactions that create the appearance of tax evasion
- Assessment of remuneration based on tax savings of customers or business partners
- Participation in transactions with the purpose of anonymous participation in offshore companies in violation of notification obligations
- Collaboration with a customer or business partner to abuse foreign legal systems
- Dividend arbitrage transactions in any form
On the basis of these guidelines, the Deka Group does not act or advise in the interests of establishing international structures with the aim of evading taxes. There is no participation in transactions with international structures if it is evident that they intend to avoid taxes. he Deka Group observes both (supreme court) financial case law and (financial) administrative opinion in the form of guidelines, decrees, rulings and letters and takes a risk-averse interpretation of the law in cases of doubt. It communicates actively, transparently and constructively with the relevant tax authorities on an ad hoc basis.
In addition, DekaBank is in direct and close professional contact with the tax authorities responsible for tax matters, the Hessian Ministry of Finance (HMdF), as well as the Federal Ministry of Finance (BMF). DekaBank can express its standpoint on specific tax matters indirectly through the associations, e.g. German Savings Banks Association (Deutscher Sparkassen- und Giroverband e. V., DSGV), German Investment Funds Association (Bundesverband Investment und Asset Management e. V., BVI), Association of German Public Banks (Bundesverband Öffentlicher Banken Deutschlands, VÖB) and German Structured Securities Association (Bundesverband für strukturierte Wertpapiere, BSW). Further professional communication on tax matters of DekaBank can take place through its own statements, articles and participation in the workgroups of the associations, especially if DekaBank and/or its stakeholders could be affected by changes in tax law or its interpretation.
Further information
You can find further information on the addressed topics on the Deka Group’s website and/or in relevant documents.
You can find further information on the addressed topics on the Deka Group’s website and/or in relevant documents.
Deka Group´s website:
Documents:
Idea management
Basic information in the Sustainability Report 2025
There is no information on this specific topic in the Sustainability Report 2025.
Supplementary information
The DekaBank idea management for the Deka Group takes place via a web-based platform, through which the employees of the Deka Group can input their ideas for improving processes or for new products and services. The crowd-sourcing approach of this platform allows employees to participate actively in the further development and evaluation of the ideas published on the platform. Indications of potential problems and risks are also helpful for the respective division that decides whether to implement an idea.
In the year 2025 alone, employees submitted a total of 84 ideas (compared to 104 in 2024). A total of six ideas were awarded cash prizes for a total of 3,100 euros. The savings or additional revenue due to the suggestions amounted to 26,400 euros.
S Broker AG & Co KG joined the DekaBank idea management as of 1 January 2024.
There is no information on this specific topic in the Sustainability Report 2025.
Supplementary information
The DekaBank idea management for the Deka Group takes place via a web-based platform, through which the employees of the Deka Group can input their ideas for improving processes or for new products and services. The crowd-sourcing approach of this platform allows employees to participate actively in the further development and evaluation of the ideas published on the platform. Indications of potential problems and risks are also helpful for the respective division that decides whether to implement an idea.
In the year 2025 alone, employees submitted a total of 84 ideas (compared to 104 in 2024). A total of six ideas were awarded cash prizes for a total of 3,100 euros. The savings or additional revenue due to the suggestions amounted to 26,400 euros.
S Broker AG & Co KG joined the DekaBank idea management as of 1 January 2024.
Further information
No further information is currently available on this specific topic.
No further information is currently available on this specific topic.
Innovation management
Basic information in the Sustainability Report 2025
There is no information on this specific topic in the Sustainability Report 2025.
Supplementary information
Innovation management is an active and important building block for further developing the business and process model of the Deka Group. It is accompanied by the Open Digital Factory (ODF) that is specialised in innovation and is linked within the group by means of the innovation board. This strengthens the innovation culture of the Deka Group and draws the attention of all employees to possible innovations. In addition, new trends and technologies are identified, evaluated and their implementation is tested in derived use cases.
A formal innovation process was instigated some years ago as a central tool in innovation management and it has been regularly developed further. It is performed three times a year. It is available in all areas of the Deka Group and actively involves employees from the teams involved in the respective innovation case.
There is no information on this specific topic in the Sustainability Report 2025.
Supplementary information
Innovation management is an active and important building block for further developing the business and process model of the Deka Group. It is accompanied by the Open Digital Factory (ODF) that is specialised in innovation and is linked within the group by means of the innovation board. This strengthens the innovation culture of the Deka Group and draws the attention of all employees to possible innovations. In addition, new trends and technologies are identified, evaluated and their implementation is tested in derived use cases.
A formal innovation process was instigated some years ago as a central tool in innovation management and it has been regularly developed further. It is performed three times a year. It is available in all areas of the Deka Group and actively involves employees from the teams involved in the respective innovation case.
Further information
No further information is currently available on this specific topic.
No further information is currently available on this specific topic.
ESG Ratings
Basic information in the Sustainability Report 2025
You can find information regarding this topic in the Annual Report 2025 on p. 19.
Supplementary information
DekaBank issues public Pfandbriefe, mortgage Pfandbriefe, bearer bonds, and certificates under the Green Bond Framework. The successful placement of these securities increasingly depends on whether DekaBank meets the requirements of the growing number of sustainability-oriented investors, who regularly rely on ESG ratings to aid their decision-making as part of their investment process.
DekaBank therefore takes great care to meet the criteria of ESG rating agencies in order to successfully place its bonds on the market. Furthermore, the agencies’ criteria reflect the requirements of key stakeholders of the Deka Group—such as environmental associations, human rights organizations, and labor unions. DekaBank also uses ESG ratings as a basis for a regular strengths-and-weaknesses analysis of its own ESG potential—including in comparison to other banks.
This section presents selected results from ESG ratings. It should be noted that ESG ratings are generally not updated annually, so the most recent rating may date back to 2025:
You can find information regarding this topic in the Annual Report 2025 on p. 19.
Supplementary information
DekaBank issues public Pfandbriefe, mortgage Pfandbriefe, bearer bonds, and certificates under the Green Bond Framework. The successful placement of these securities increasingly depends on whether DekaBank meets the requirements of the growing number of sustainability-oriented investors, who regularly rely on ESG ratings to aid their decision-making as part of their investment process.
DekaBank therefore takes great care to meet the criteria of ESG rating agencies in order to successfully place its bonds on the market. Furthermore, the agencies’ criteria reflect the requirements of key stakeholders of the Deka Group—such as environmental associations, human rights organizations, and labor unions. DekaBank also uses ESG ratings as a basis for a regular strengths-and-weaknesses analysis of its own ESG potential—including in comparison to other banks.
This section presents selected results from ESG ratings. It should be noted that ESG ratings are generally not updated annually, so the most recent rating may date back to 2025:
- As of December 2025, the ESG rating agency ISS ESG has assigned the Deka Group a rating of C on a scale ranging from A+ (the highest rating) to D-. Based on this rating, the Deka Group has been awarded “Prime Status” by ISS ESG. This status is granted to companies that comprehensively meet the core requirements defined by the agency regarding the handling of sustainability issues.
- The ESG rating agency MSCI ESG has awarded the Deka Group an A rating—the third-highest on a scale ranging from AAA to CCC (as of March 2026)—thereby once again confirming the consistently high standard of sustainability-related measures within the Deka Group.
- Sustainalytics, the ESG rating agency owned by Morningstar, has assigned the Deka Group a rating of 19.0, classifying it as “Low Risk” on a scale ranging from 40+ to 0 (the best rating), indicating low exposure to ESG risks (as of August 2025). In doing so, it recognizes the Deka Group’s comprehensive measures for managing ESG-related risks.
- Moody’s ESG Solutions veröffentlicht seit dem Jahreswechsel 2024 / 2025 keine eigenen ESG-Ratings zur ESG-Performance mehr. Sie werden künftig die Ratings von MSCI nutzen und daher der Deka-Gruppe nicht mehr gesondert aufgeführt.
Further information
You can find further information on the addressed topics on the Deka Group’s website and/or in relevant documents.
Deka Group’s website: