Banco de Credito e Inversiones

The financial institution has a publicly available policy statement committing it to respect the ILO core labour rights. In addition, the financial institution specifies that it does not make political contributions. Banco de Credito e Inversiones monitors its scope 1-2 emissions and other scope 3 categories, by category.

Banco de Credito e Inversiones (BCI) conducts a materiality assessment process that includes double materiality, yet lacks evidence supporting its prioritisation of impacts. It is recommended that BCI links senior executive remuneration to specific sustainability targets. In 2023, BCI did not contribute to lobbying or political campaigns, but there is no evidence of a commitment to avoid using lobbying power in ways that could harm sustainability.

While BCI discloses information on financed emissions, it should clarify how these figures align with internationally recognised standards and detail the methodology for its footprint calculation. Recommendations include disclosing reductions in scope 1-3 emissions in line with interim targets, providing a breakdown of clients by income group, and ensuring that sustainability strategies do not inadvertently lead to divestment from low-income countries.

Additionally, BCI should disclose that its risk assessment process includes risks related to ILO fundamental rights and social risks associated with the net zero transition, as well as provide examples of actions taken regarding salient human rights issues from its assessment processes in the past 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.