Banco Davivienda 

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to its highest governance body and delegates responsibility for the strategy to various functions, teams, or committees. Banco Davivienda has a publicly available policy statement that commits to respecting human rights and discloses quantitative information regarding the health and safety of its workers. Additionally, It discloses the monetary amount or share of products, services, and capital linked to high-emitting and fossil fuel sectors, while transparently identifying key sectors, clients, and investees for climate engagement. Nature-related impacts associated with its offerings are also identified and prioritised, focusing on areas with the highest impact on nature.

The financial institution also has a strategy to provide products, services, and capital that support climate adaptation and resilience.

The institution monitors its scope 1-2 emissions and emissions from associated financing activities (Scope 3 category 15), as well as other scope 3 categories.

Banco Davivienda has conducted a materiality assessment outlining prioritised impacts, alongside a comparative analysis of peers and recommendations from the World Bank and WEF. However, it is unclear which impacts have been considered and if they encompass the full value chain. The entity is advised to link senior executive remuneration to specific sustainability targets as well.

It has a stewardship strategy for climate topics and a voting statement in its investment policy, but lacks a comprehensive stewardship policy supporting environmental transitions and social best practices. While it discloses some trade associations, the list is incomplete. The Bank has a target of 30% green portfolio by 2030 however, this lacks a specified baseline value or date.

Recommendations include disclosing client breakdowns by income group and avoiding divestment from low-income countries due to sustainability strategies

The entity has a human rights policy but could enhance transparency regarding risk assessments related to ILO rights. It is also recommended to provide examples of actions taken on salient human rights issues from assessment processes 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.