Bank of Baroda

The financial institution specifies that it does not make political contributions. The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. The financial institution discloses the amount and/or share (in monetary terms) products, services and capital provided to small-and medium-sized enterprises.

The institution has the opportunity to disclose its method for determining a living wage in its operational regions and to include anti-bribery and anti-corruption clauses in contracts. It identifies material sustainability impacts but could provide more detail on the criteria and evidence used for their prioritisation. Linking senior executive remuneration to specific sustainability targets is recommended.

While there are targets for climate solutions, these could be better defined in terms of time and measurability. The institution discloses its scope 1-2 emissions but should clarify scope 2 emissions as market-based or location-based and monitor scope 3 emissions by category. Transparency in the methodology for footprint calculation is advised, along with a commitment to reducing scope 1-3 emissions in line with interim targets.

A breakdown of clients by income group and a risk assessment process that includes ILO fundamental rights at work is recommended, along with a mitigation process for identified risks. Additionally, the institution should identify social risks related to the net zero transition and provide an example of actions taken regarding salient human rights issues from assessments 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.