Aware Super

The financial institution has a stewardship policy that supports environmental transitions and social best practices in line with its sustainability strategy, as well as covers client and other stakeholder engagement in addition to advocacy and partnerships. Furthermore, it publishes an engagement/stewardship report describing the outcome of engaging on sustainability impact topics.

In terms of governance, the financial institution maintains a gender balance (between 40-60%) at the senior executive level, as well as assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. Moreover, it discloses specific actions taken to align its lobbying and public policy engagement with its sustainability strategy. In terms of climate, the financial institution monitors its scope 1-2 emissions and specifies that it adopted a market-based approach.

The financial institution identifies material topics important to stakeholders and members but has the opportunity to disclose its impact materiality process, including the criteria and evidence used for prioritisation. It is also recommended that the entity links senior executive remuneration to specific sustainability targets. While a list of trade associations focused on sustainability is disclosed, there is an opportunity to disclose a full list of trade association memberships. Moreover, it is recommended that the financial institution report on the share of products and services linked to high-emitting and fossil fuel sectors.

The financial institution provides products and services that support climate adaptation but could be more intentional in its disclosure regarding an example of how its products and services support climate adaptation and resilience of society. Although it is committed to low-carbon investments, time-bound and measurable targets for climate mitigation solutions could be disclosed. Additionally, monitoring emissions from financing activities (Scope 3 category 15) and detailing the methodology for footprint calculations are recommended. The financial institution further has the opportunity to disclose the aggregate amount and/or share of its provision of products, services and capital devoted to specified nature-positive solutions, as well as to identify nature-related impacts.

It is further recommended that the financial institution provides a breakdown of clients by income group and processes to avoid divestment from low-income countries due to unintended sustainability strategy consequences should be disclosed. While some risks related to ILO fundamental rights are identified by the entity, a comprehensive coverage of all rights impacted by its offerings is needed. The financial institution should also disclose its process for mitigating modern slavery risks and provide examples of actions taken regarding salient human rights issues from assessments 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.