By Maitane Sardon

Deutsche Bank AG said Thursday that it had linked Henkel's supply-chain finance program to the sustainability ratings of the German consumer goods company's suppliers.

The program aims to give suppliers an incentive to adopt more environmentally friendly practices by giving them discounts on financing costs if they improve their ESG rating, Deutsche bank said.

For companies, reducing their overall emissions involves cutting those associated with their suppliers and customers, which can often make up most of a firm's carbon footprint.

The bank aims to expand the program, which it said is the first of its kind, to suppliers outside of Europe.

Write to Maitane Sardon at maitane.sardon@wsj.com

(END) Dow Jones Newswires

May 19, 2022 13:14 ET (17:14 GMT)

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