Alecta

The financial institution designates the highest governance body with decision-making and oversight for its sustainability strategy and assigns the responsibility of implementation to internal functions, teams, or committees. It also discloses the total amount and/or share (in monetary terms) of its offerings in products, services, and capital dedicated to specific nature-positive solutions. Additionally, it details the process used to identify the human rights risks and impacts related to its product, service, and capital provision.

First, the financial institution identifies material sustainability impacts across its value chain. While it has made an initial effort, it could further detail its process and how objective criteria and/or supportable evidence were considered for the identification and priortization of impacts.

Regarding human rights, the financial institution has a publicly available policy statement committing it to respect specific workers’ rights. However, it also has an opportunity to reference all the ILO fundamental rights at work and disclose how it determines a living wage for the regions where it operates. Moreover, while its risk assessment process includes risks associated with some of ILO fundamental rights at work for those impacted by its provision of products, services and capital, it has the opportunity to cover the full set of rights. It is recommended that the financial institution discloses that it has a process for mitigating such risks when identified and for identifying the social risks associated with its provision of products, services and capital in relation to the net zero transition.

Next, it is recommended that the financial institution provides an example of the specific conclusions reached and actions taken or to be taken on at least one of its salient human rights issues of the products, services and capital it offers as a result of assessment processes in at least one of its activities in the last three years.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.