Bank of Shanghai

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. It also assigns responsibility for implementing its sustainability strategy to functions, teams or committees within the financial institution.

The institution discloses commitments to respect the ILO’s fundamental rights at work and has the opportunity to formalise these in a policy document. It can also disclose its methodology for determining a living wage in its operational regions and provide a publicly available policy statement against bribery and corruption. Including anti-bribery and anti-corruption clauses in contracts with business partners is another opportunity.

Recommendations include linking senior executive remuneration to sustainability targets, monitoring scope 3 emissions by category, and transparently detailing the methodology for footprint calculations. Establishing a transition plan for its operations, supply chain, and portfolio, as well as ensuring scope 1-3 emissions align with interim targets, are also advised. The institution should disclose the breakdown of clients by income group and processes to prevent divestment from low-income countries due to sustainability strategies.

Finally, providing an example of conclusions and actions taken regarding salient human rights issues from assessment processes in the last three years is suggested.

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.