Caixabank

The financial institution has a publicly available policy statement committing to respect ILO core labour rights and expects suppliers to do the same. It describes its process for assessing human rights risks and identifies salient human rights issues, while disclosing quantitative information on worker health and safety. It does not make political contributions and maintains a gender balance of 40-60% at the senior executive level.

Third-party assurance or verification is conducted for target reporting, with decision-making and oversight for the sustainability strategy assigned to the highest governance body. Performance criteria for senior executive remuneration are linked to specific sustainability targets, and responsibility for implementing the sustainability strategy is assigned to various functions or committees. The stewardship policy includes client and stakeholder engagement, advocacy, and partnerships.

The financial institution discloses its financial involvement in high-emitting and fossil fuel sectors, identifies key sectors for climate engagement, and prioritises areas for nature-related impacts. It engages in partnerships to influence sectors and monitors scope 1-2 emissions, as well as emissions from financing activities (Scope 3 category 15), with reductions aligned to interim targets. Additionally, it discloses financial support for women-owned businesses and small-and medium-sized enterprises, along with operational data by country.

The institution has the opportunity to disclose its methodology for determining a living wage in its operational regions. It identifies material sustainability impacts across its value chain but could provide more detail on the criteria and evidence used for prioritisation. While it participates in trade associations, a complete list is not provided.

The institution has a strategy to phase out products and services related to fossil fuels lacking a 1.5°C alignment, but not all fossil fuels are covered. It has measurable targets for sustainable financing but could specify the portion allocated to climate solutions. Although it mentions nature protection and restoration, a detailed strategy for priority sectors is lacking. It incorporates nature-positive projects into its financing framework but could disclose the total amount allocated to these solutions. Engagement with clients on nature issues presents an opportunity for further influence on their strategies. While it monitors scope 3 emissions, additional categories could be included with justifications for exclusions.

Recommendations include disclosing client breakdowns by income group and processes to avoid negative impacts on low-income countries from sustainability strategies. The human rights policy addresses ILO rights but could integrate these into risk assessments. It is also recommended to disclose processes for identifying social risks related to the net zero transition and to provide examples of actions taken on salient human rights issues in recent activities.

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.