Deutsche Bank

Deutsche Bank permanently severed all financial ties with then-President Donald Trump, despite decades of close cooperation (1)(2). The company has been hard-pressed to rethink its ties with Russia following the 2022 invasion of Ukraine. The bank only decided to “wind down” its operations in Russia after significant public backlash to its earlier refusal to do so (3). Deutsche Bank will not finance a wide array of specific energy operations, including the development of coal-fired plants or most fracking projects (4). The company received a score of 100 on the 2026 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (5)(6)(7). Deutsche Bank received a score of 100 on the 2025 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits employees based on sexual identity. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (8)(9). Its PGLE membership reflects its commitment to vet business partners based on LGBTQ+ policies (10)(11)(12).

Deutsche Bank’s HRC 2026 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2)(3). The company’s HRC 2023-2024 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (4)(5). Deutsche Bank’s charitable giving guidelines require that organizations abide by its nondiscrimination policy, including on the basis of sexual orientation and gender identity, thereby excluding some religious charities (6).

Deutsche Bank’s HRC 2026 CEI rating indicates the company forces employees to attend at least one, controversial training on gender identity, sexual orientation, transgender issues, and divisive racial ideology. The company provides gender transition guidelines for its employees and a specific benefits guide with a comprehensive explanation of transgender services funded by the company (1)(2)(3). The company’s HRC 2023-2024 CEI rating indicates the company provides gender transition guidelines for its employees and specific benefits guide with a comprehensive explanation of transgender services funded by the company (4)(5). Deutsche Bank does not provide viewpoint protections for its employees (6).

Deutsche Bank provides a benefits package for employees that covers travel/lodging costs for an abortion (1)(2). The company’s HRC 2026 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits, lab monitoring, and mental health benefits. The company also covers at least five of the following services: reconstructive hair removal, cosmetic hair removal, tracheal shave or reduction, facial surgeries, voice modification surgery, voice modification therapy, lipoplasty or filling for body masculinization or feminization, and travel and lodging expenses. Additionally, the company has potentially pledged philanthropic support of at least one organization or event that promotes sex and gender ideology. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (3)(4)(5)(6). Its HRC 2023-2024 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. Additionally, the company has pledged philanthropic support of at least one organization or event that promotes sex and gender ideology. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (7)(8). The company allegedly donated to Planned Parenthood (9)(10). The bank’s PGLE membership reflects its commitment to “operationalize” company coverage of transgender surgery and treatment and the financial support of LGBTQ organizations” (11)(12)(13)(14). The company has contributed to the Gay, Lesbian and Straight Education Network education campaign (15). The company is a corporate partner of Ashoka, a global network of entrepreneurs focused on widespread, systemic social and environmental change (16). The company is a Platinum Sponsor of NYC Pride (17). Otherwise, there are no publicly known cases of the company using corporate funds to advance ideological causes, organizations, or policies (18).

Deutsche Bank’s HRC 2026 CEI rating indicates the company potentially agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy. By doing so, the company risks dividing employees, alienating customers and harming shareholders (1)(2)(3). The company’s HRC 2023-2024 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy. By doing so, the company risks dividing employees, alienating customers and harming shareholders (4)(5). Deutsche Bank’s PGLE membership reflects its commitment to provide “tools and resources for companies to advance and implement LGBTI inclusion globally” (6)(7)(8)(9). The company signed an open letter endorsing the Equality Act, a contentious proposal to amend the 1964 Civil Rights Act by adding sexual orientation and so-called gender identity as protected categories. The legislation would, among other implications, grant biological men access to women-only spaces such as sports teams and public restrooms, and compel healthcare providers to deliver sex-denying healthcare and has opposed multiple anti-LGBTQ state legislation (10)(11)(12). In 2016, Deutsche Bank halted its plans to expand its North Carolina facilities in response to the state bill requiring people to use the bathrooms assigned to their biological sex (13). The company supports the Black Lives Matter movement (14). Deutsche Bank’s asset management division DWS Group was raided by German authorities in 2022 due to concerns that its “ESG-friendly” investment funds were fraudulent (15). DWS Group is part of the Net Zero Asset Managers initiative and a PCAF member, committed to carbon neutrality with its investments by 2050 (16)(17). The company is a member of the Net Zero Banking Alliance, which formerly required a commitment to net zero carbon emissions by 2050. However, in April 2025, the NZBA dropped that commitment as a requirement for membership but still expects members to align their climate targets with limiting global warming to below 2 degrees Celsius by 2100 (18)(19)(20)(21). Deutsche Bank opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces (22)(23). DWS Group was part of the Freedom for All Americans coalition, which advocated for federal legislation that would overrule state laws designed to protect girls’ sports and similar laws (24). The bank’s CEO, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace (25)(26). The company scored a 90 out of 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group (27)(28). Deutsche Bank is a sponsor of NYC Pride 2026 (29).

Deutsche Bank‘s HRC 2023-2024 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives. By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders (1)(2). Its PAC has been defunct since 2000 but it has not lobbied for ideological purposes (3)(4)(5).