Banque Misr 

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body while implementation responsibility is delegated to various functions, teams, or committees. It monitors other Scope 3 emissions categories, by category. Furthermore, the institution discloses the amount or share, in monetary terms, of products, services and capital provided to women-owned businesses, usually excluded groups, small-and medium-sized enterprises as well as low-income and lower-middle-income countries. However, no leading practices were identified for the institution with regard to Financing Climate and Nature protection and restoration.

The financial institution has a publicly available policy statement on workers’ rights but could reference all ILO fundamental rights. It has opportunities to disclose its living wage determination process and specify that it does not make political contributions. While the institution identifies and prioritizes material sustainability impacts, it could enhance transparency by disclosing the objective criteria and evidence used in its materiality analysis. Furthermore, it could link performance criteria for remuneration at the senior executive level to specific sustainability targets and disclose a comprehensive list of trade associations of which it is a member.

Additionally, while the institution refers to sectors and areas for nature-related impacts, it has the opportunity to detail how those were identified and prioritized as those with the highest impact with regard to its provision of products, services, and capital. Although it discloses the aggregate amount in monetary terms of its provision of products, services, and capital linked to its priority sectors and areas representing their highest negative impact on nature, it could further detail what this disclosure covers.

It is recommended that the institution disclose the breakdown of clients or beneficiaries by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Its risk assessment process should incorporate risks related to ILO fundamental rights at work for those affected by its products and services, with a mitigation process for identified risks. Moreover, the institution could strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition.

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.