BCI

BCI assigns decision-making and oversight for the sustainability strategy to the highest governance body, while implementation responsibilities are delegated to various functions, teams, or committees. A stewardship policy supports environmental transitions and social best practices in alignment with the sustainability strategy. Moreover, BCI discloses its positions on lobbying and political engagement concerning sustainability topics and outlines specific actions taken to align these activities with its sustainability strategy and specifies that it does not make political contributions. It also identifies key sectors, clients, and investees for engagement on climate issues and monitors emissions from its associated financing activities (Scope 3 category 15).

BCI has an ESG materiality assessment and matrix for investment opportunities and has an approach to material matters, however, there is no evidence that institution present objective criteria for the prioritisation of its material impacts. Recommendations include disclosing third-party assurance for target reporting, linking senior executive remuneration to sustainability targets, and providing a complete list of trade associations.

It has invested 11.1 billion USD in climate-related opportunities and established a goal of 5 billion USD in sustainable bonds, though details on these investments are unclear. While it discloses operational scope 1-2 emissions and monitors scope 3 financed emissions, further detail on scope 2 emissions and additional categories of scope 3 emissions is needed. Additionally, there is no evidence of disclosure regarding the financial institution’s provision of products and services linked to high-emitting and fossil fuel sectors.

The assessed entity states its stewardship activities are guided by ILO principles, but lacks a formal policy approved by its highest governance body. Recommendations also include disclosing the breakdown of clients by income group, processes to avoid divestment from low-income countries, risk assessments related to ILO rights, and social risks associated with the 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.