Apollo Global Management

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body while implementation responsibility is delegated to various functions, teams, or committees. It transparently identifies the key sectors, clients, and investees to engage with on climate issues. Furthermore, the institution monitors its scope 1-2 emissions and emissions resulting from its associated financing activities (Scope 3 category 15). However, no leading practices were identified for the financial institution with regard to Inclusive finance and Responsible business conduct.

The financial institution has a publicly available policy statement committing to respect specific workers’ rights and expects suppliers to do the same, with an opportunity to reference all ILO fundamental rights at work. It includes anti-bribery and anti-corruption clauses in its contracts with business relationships but does not specify the consequences of breaching these clauses. Although political contributions are made with approval from designated officers, it could clarify if these are made only by exception and the criteria for them.

While the institution has time-bound and measurable targets for the provision of products, services and capital for “green” solutions, it could specify the share devoted to climate solutions. Moreover, the institution monitors scope 3 emissions beyond financed emissions, but it could cover additional categories and provide a rationale for those excluded. Additionally, it has an opportunity to disclose that it has established a transition plan covering its own operations, supply chain and portfolio.

It is recommended that the institution disclose the breakdown of clients or beneficiaries by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Its risk assessment process should incorporate risks related to ILO fundamental rights at work for those affected by its products and services, with a mitigation process for identified risks. Moreover, the institution could strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition.

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.