Banco Davivienda

In terms of senior leadership accountability, the responsibility for sustainability within Banco Davivienda lies with the Corporate Governance and Sustainability Committee, which supports the board of directors and has a board member on it. In terms of its approach towards impact management, the bank acknowledges that its financing activities have both positive and negative impacts and discloses a materiality matrix which includes the input from external stakeholders and describes the process of identifying and prioritising impacts.

No leading practices were identified for the financial institution in the respecting planetary boundaries measurement area.

Banco Davivienda has publicly available policy statements committing it to respect human rights, the ILO core labour rights and the health and safety of workers, in addition to a policy statement to protect personal data. It provides an anonymous grievance mechanism to raise any concerns related to human rights or regarding bribery and corruption. The bank discloses the proportion of women in its total direct operations workforce for each employee category as well as the proportion covered by collective bargaining agreements. Moreover, Banco Davivienda discloses the amount of finance it directs towards women-owned SMEs. Furthermore, it discloses a COP 6.7 trillion SME loan portfolio.

There is no evidence that Banco Davivienda links the remuneration of its executive or management team to sustainability performance criteria. Moreover, there is no evidence that the financial institution describes its engagement process related to clients. No evidence was found that the bank is committed to gender equality and women’s empowerment. Women are underrepresented on the board of directors where only 1 out of 6 board members is a woman It has an opportunity to disclose how it is addressing the gender pay gap as well as the representation of women in senior leadership roles.

There is no evidence that Banco Davivienda discloses a target to reach net-zero financed emissions by 2050 or interim financed emissions targets, such as a 45% reduction in financed emissions by 2030. Furthermore, no evidence was found that the bank engages with its clients on the topic of climate change, specifically alignment with a 1.5°C trajectory. While Banco Davivienda discloses that 3% of its loan portfolio is made up of exposures to industries exposed to transitions risks, which includes fossil fuels, it could disclose the same across its financing activities. No further evidence was found regarding its stance on financing new fossil fuel projects. There is no evidence that the bank is committed to minimising the negative impacts it has on nature and biodiversity or financing regenerative solutions.

Banco Davivienda states that it uses risk matrices for each stakeholder as an analysis tool, including factors such as the associated contexts, interactions where there are potential threats to human rights, and control activities required in accordance with regulations. Also, it indicates that it carries out a risk identification as part of a human rights due diligence. However, it does not describe the process of identifying human rights risks and impacts. While Banco Davivienda discloses the age of its employees, there is no evidence that it discloses the proportion of its workforce for each employee category by age group. Furthermore, there is no evidence that the bank discloses the amount of finance directed towards low-income developing countries.