Sustainability Strategy

The Deutsche Börse Group's holistic, group-wide sustainability strategy is based on the results of the double materiality assessment. It specifically addresses the identified material impacts, risks, and opportunities, and it is subject to certain local legal requirements. The results are disclosed in the Sustainability statement of our annual report.

All material impacts, risks and opportunities (IRO) will be covered by the five key sustainability matters of our sustainability strategy:

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Climate

At Deutsche Börse Group, environmental matters are an integral part of our sustainability activities. We are committed to our corporate responsibility to protect the environment and to ensure the corresponding sustainability of our business operations. In order to systematically manage our resource consumption, we have been collecting and monitoring our CO2 key figures across the Group using a tool-based solution since the end of 2021. 

We strive to contribute to the achievement of the Paris Climate Agreement through our business activities. In 2023, we further developed our climate targets in accordance with current market standards. These include short-term reduction targets until 2030 and a long-term net-zero target until 2045.

Short-term targets: 

  • Scope 1 and 2: Deutsche Börse Group aims to reduce absolute Scope 1 and 2 emissions by 42 percent by 2030 compared to the base year 2022. 
  • Scope 3: In addition, Deutsche Börse Group aims to reduce its absolute Scope 3 emissions from fuel and energy-related activities, business travel, and employee commuting by 42 percent by 2030 compared to the base year 2022. 
  • Scope 3 supplier engagement: In addition, Deutsche Börse Group is pursuing the goal that by 2028, a total of 81 percent of suppliers – measured in terms of emissions from purchased goods, services, and capital goods – will have set their own SBTi-compliant climate targets.

Net-zero target:

  • Deutsche Börse Group aims to reduce its absolute Scope 1, Scope 2, and Scope 3 emissions by 90 percent by 2045 compared to the base year 2022.

Our climate targets address the climate-related impacts, risks, and opportunities. They will be implemented through long-term CO2 reduction measures, which are explained in our transition plan.

Employees

Sustainability

Deutsche Börse Group is committed to a working environment characterized by equal opportunities, respect, and non-discriminatory treatment of every individual. As a global company, we stand for recognition, appreciation, and inclusion in the workplace, fostering a culture where impact and contributions are what truly matter.

Our employees’ commitment and performance are the most important components of Deutsche Börse Group’s success. They master challenging tasks and create a corporate culture characterized by responsibility, commitment, flexibility and the determination to achieve something extraordinary. We want to make sure that prospective employees with these qualities are and remain attracted to Deutsche Börse Group. Therefore, we strive to find and support highly talented individuals and seek their long-term commitment to the company. To this end, we pursue a responsible, sustainable personnel policy. This benefits both employees as well as the company.

Deutsche Börse Group is a service provider that makes exacting demands on its staff: their technical skills, their ability to communicate and work in teams, and their readiness to take responsibility. At Deutsche Börse Group, experts with highly specialized knowledge work hand in hand with generalists who tailor the products and services to the requirements of customers, owners and representatives of the public interest.

Corporate culture: fostering openness

We support a culture of open dialogue, trust and mutual acceptance within our diversity. We strive to foster a healthy and productive work environment where everyone feels welcome to freely contribute their ideas, talent and expertise.


Human rights: practising respect

We endorse the Universal Declaration of Human Rights of the United Nations, participate in the UN Global Compact and support the labour standards of the International Labour Organization (ILO). Its principles are implemented in our Group-wide compliance policies, in our code of business conduct as well as in our Statement on Human Rights.


Inclusion: promoting equal opportunities

We are convinced that inclusion and equal opportunities are among our strengths. That is why we are committed to creating a working environment in which everyone feels welcome and can contribute their ideas as a matter of course.


Recruiting: attracting employees of distinction

As one of the world’s leading exchange organisations, we offer highly qualified applicants ideal conditions to develop their expertise, creativity and commitment.


Personnel development: growing together

We want to empower all colleagues to take responsibility for their own growth opportunities. ​​​​​​Besides specific development measures, the majority of development happens on the job – with new tasks, project assignments and collaborative work. Next to specific skill and leadership trainings, Deutsche Börse Group offers two dedicated talent programmes for internal employees:


Our High Potential Programme promotes personal growth and professional development. Participants follow a fixed curriculum in a 12-month learning journey including different trainings focusing on a variety of topics, such as effective communication, negotiation & conflict management as well as the basics of project management styles and (self-) leadership. In addition, voluntary development services and different networking events are part of the programme.


The ada Fellowship prepares our employees for digital transformation and empowers them to act as digital ambassadors for the company. Led by the ada team and their experienced partners from the digital education sector, the fellows undergo an interdisciplinary, 12-months programme. The experience is based on widely differing formats: events and interactive elements with digital bohemians, monthly online deep dives into core topics and working sessions. At live events, the fellows have the opportunity to learn from the leading personalities and designers of tomorrow's world. ​​​​​​​


Remuneration: rewarding performance

We reward performance in a variety of ways. In addition to their fixed salary, and under certain conditions, employees are eligible for a variable bonus. On top of that, we offer long-term remuneration components and – compared with other companies in the financial services sector – above-average social benefits, specific to each location.


“Job, Life & Family”: promoting flexibility and balance

With flexible working hours, options for flexible working locations, programmes for child care and care for the elderly as well as for active preventative health care, we help employees balance their personal and working lives.


Social engagement

As a company, we assume an ethical and legal responsibility as part of our business activities. We also bear an obligation beyond this realm towards the environment in which we operate. Socially responsible companies give back to society. We strive to live up to this standard by supporting charitable causes and creating positive social value in collaboration with our experienced partners. In doing so, we consider our corporate responsibility to be an ongoing obligation towards our shareholders, customers and employees, as well as towards greater society.


Business Conduct

Ethical business conduct is deeply rooted in our business principles and values. Our commitment to market integrity, transparency, efficiency and safety is at the core of our operations, and we aim to prevent unlawful or unethical conduct in any business relationship. Our principles, values and practices are expressed in our sustainability statements, guidelines and policies.

You can find all our statements, guidelines and policies here.

Procurement: sustainability in the supply chain

Deutsche Börse Group not only requires its management and staff to adhere to legal, social and ethical standards – it demands the same from its suppliers and service providers. The code of conduct for suppliers defined by Deutsche Börse AG and the central purchasing department requires suppliers, among other things, to respect human rights and environmental regulations and to comply with minimum standards in these areas. These standards also incorporate the provisions of the German Lieferkettensorgfaltspflichtengesetz (Supply Chain Due Diligence Act) and also cover the requirements of the UK Modern Slavery Act.

Service providers and suppliers must sign this code of conduct or enter into an equivalent voluntary commitment before they can do business with Deutsche Börse AG and the Group companies represented by the central purchasing department. The code of conduct for suppliers is reviewed regularly in the light of current developments and amended if necessary. It can be found here.

Stakeholder Engagement

We continuously and systematically seek dialogue with our internal and external stakeholders. Understanding the needs, concerns and expectations of our stakeholders helps us to determine the focus topics of your work. Our stakeholder engagement includes discussions with ESG rating agencies, memberships in and commitments to various initiatives, as well as our social and regulatory engagement.

Our ESG ratings 

External validation of our sustainability ambitions through ESG ratings is an integral part of our sustainability strategy. In order to identify potential further developments in the sustainability profile compared to the previous year, a comparative analysis of the rating results and other internal and external factors is carried out annually. Deutsche Börse Group takes into account the ratings of Standard & Poor's (S&P), Sustainalytics, and MSCI. These ratings cover environmental, social, and corporate governance issues and contribute to the positive effect of increasing transparency in the market and competition as well as stakeholder confidence. 

The weighting of the criteria varies depending on the rating agency, with the corporate governance factor usually being weighted more heavily. The results are evaluated regularly and published annually in order to specifically steer the further development of our sustainability profile. The individual results of the rating agencies for the 2025 financial year are as follows:

Rating agency 

Result 2025

Result 2024

S&P 

74

73

Sustainalytics

80

83

MSCI

AAA

AAA

CDP1

C

B

1 You can find our latest CDP answers here.

Our memberships and commitments  

We are a member of the “Net Zero Exchange Group – SSE Climate” under the UN Sustainable Stock Exchanges (UN SSE). Founded in 2021, this initiative comprises 23 stock exchange organizations from around the world. Members adhere to a framework for setting targets recognised by “Race to Zero” and report annually on their progress, with the results publicly tracked on the UN SSE website. You can find our respective report here and an overview of our key memberships here.

Our social engagement 

As a socially responsible company, we want to give back to society – we live up to this claim by participating in charitable causes and, together with experienced partners, seek to create positive social value. You can find further information about our engagement activities here

Our regulatory engagement ​ 

Based on our specific knowledge as a financial market infrastructure provider, we share our expertise about the evolution of the regulatory framework. Thus, we make a permanent contribution to strengthening financial market infrastructure and capital markets as a vital tool for achieving society’s overarching objectives. We take part in consultations on political and regulatory initiatives, for example, and submit comments and papers to explain the implications of certain regulatory proposals for Deutsche Börse Group, our clients, the financial markets and society as a whole. Our white papers and studies also contribute to an improved understanding of specific aspects of financial market regulation. 

You can find more information about our regulatory engagement here.

Sustainability-related Business

Deutsche Börse Group provides its clients with reliable information and a high-performance infrastructure to enable them to execute financial transactions efficiently and securely. Our products and services promote transparency in the areas of environmental, social and corporate governance (ESG) and represent the ‘sustainability-related business’ aspect of our sustainability strategy. Market participants rely on accurate information to make informed decisions. At the same time, we are aware that this information can also be used to finance non-sustainable activities.

Products and Services by segment

Investment Management Solutions

ISS STOXX

As a leading provider of investment management solutions, ISS STOXX supports capital market participants with data-driven research and technology solutions.

For institutional investors, we offer objective analysis and voting recommendations for annual general meetings, as well as comprehensive sustainability data and ratings. These services enable investors to align their portfolios with global sustainability standards and make informed decisions. Our offering is complemented by a wide range of ESG and climate indices aligned with international climate targets.

At the same time, through our subsidiary ISS-Corporate, we provide companies with specialized data, advisory services and software solutions. In this way, we effectively support them in managing their corporate governance, remuneration, sustainability and cyber risk programmes.

Across all business areas, we ensure the highest levels of independence and integrity through strict compliance requirements, publicly available methodologies and organizational separation, in order to manage potential conflicts of interest.

Trading & Clearing

Commodities

Deutsche Börse Group is at the heart of capital market activity, operating regulated markets and providing reliable clearing services that minimize the risk of default for all market participants. A key component of our offering is the Commodities segment, in which the EEX Group plays a leading role.

Since the introduction of the EU Emissions Trading System (EU ETS), we have been a central platform for trading CO2 allowances, thereby supporting cost-effective emissions reductions. Our electricity trading markets also promote the integration of renewable energy by enabling the trading of electricity from various sources and offering long-term price hedging. In addition, the EEX Group facilitates voluntary emissions offsetting through the trading of renewable energy certificates, covering the entire value chain from registration to trading.

Fund Services


Through the Vestima platform, Deutsche Börse Group offers comprehensive services covering the administration and settlement of all types of funds, including those classified under Articles 8 and 9 of the SFDR. The Clearstream Fund Services platform enables investors to assess funds on the basis of ESG criteria and supports sustainable investment decisions. Through Kneip, Clearstream also offers ESG-compliant fund data management and reporting, particularly to ensure compliance with SFDR and EET requirements.

These services promote transparency, regulatory compliance and the sustainable transformation of the fund industry. 60 per cent (2024: 58 per cent) of the funds offered on the Clearstream Fund Services platform are classified under Articles 8 or 9 of the SFDR.

Securities Services

As a market infrastructure provider for capital markets, we offer our clients an end-to-end value chain for trading, clearing and post-trade services.

Our Securities Services segment, through Clearstream, provides comprehensive services for the issuance, settlement and custody of securities. With modern, automated solutions in collateral management and securities lending, we support the efficient use of capital. In doing so, we enable our clients to specifically use ESG-compliant assets as collateral, thereby actively channeling capital flows into sustainable sectors.