How Deutsche Bank Is Helping Companies Finance Their Path to Net Zero

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Deutsche Bank (DB) Chief Sustainability Officer Discusses Earth Overshoot Day and the Need for System Changes

NORTHAMPTON, MA / ACCESSWIRE / December 1, 2023 / SAP

By Judith Magyar, Brand Contributor

Originally published on Forbes.

Earth Overshoot Day is the date when humanity's demand for ecological resources in a given year exceeds what Earth can regenerate in that year. The first-ever overshoot took place on December 29, 1970. Since then, every year the date occurs earlier. This year, it was on August 1st.

"Taking planetary boundaries into account means that meeting the four key human demands -energy, food, manufacturing, and mobility-will require fundamental system changes," said Jörg Eigendorf, Chief Sustainability Officer, Deutsche Bank, in an interview with SAPVoice on Forbes.com.

Mankind's desire to fulfill the four basic needs has created our current economic system. In the past, corporations responded to demands by increasing supply - with little consideration for the impact on natural capital. As a result, the complex corporate and economic structures now in place are increasingly inappropriate.

"These supply structures cannot be dismantled immediately, because governments are not willing to risk meeting the demands of the population," said Eigendorf. "Hence, the emphasis must be on changing the way we meet the demands. We need to decouple economic activity as much as possible from emissions and environmental destruction. The external cost of doing business needs to be internalized to set the right price signals and encourage innovation."

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https://www.accesswire.com/812316/how-deutsche-bank-is-helping-companies-finance-their-path-to-net-zero

FAQ

What is Earth Overshoot Day and when did it occur this year for humanity?

Earth Overshoot Day is when humanity's demand for ecological resources exceeds what Earth can regenerate in a year. This year, it occurred on August 1st.

Who is the Chief Sustainability Officer of Deutsche Bank and what did he emphasize in the interview?

Jörg Eigendorf is the Chief Sustainability Officer of Deutsche Bank. He emphasized the need for fundamental system changes to meet human demands while taking planetary boundaries into account.

How has mankind's desire to fulfill basic needs impacted the current economic system?

Mankind's desire to fulfill basic needs has created the current economic system, leading to complex corporate and economic structures that are increasingly inappropriate.

What does Jörg Eigendorf suggest in terms of changing the way demands are met?

Jörg Eigendorf suggests the need to decouple economic activity from emissions and environmental destruction, internalize the external cost of doing business, and set the right price signals to encourage innovation.

Where can more information about this topic be found?

More information about this topic can be found on 3blmedia.com and the SAP website.