CDPQ

The financial institution publishes an engagement report on sustainability impact topics and has a publicly available policy statement requiring suppliers to respect ILO core labour rights. It engages with stakeholders affected by its activities and discloses its approach to lobbying and political engagement. Furthermore, it has a stewardship policy that supports environmental transitions and social best practices in line with its sustainability strategy, covering client engagement, advocacy, and partnerships.

The institution commits to respecting human rights and discloses its trade association memberships. It also reveals the monetary amount of products and services linked to high-emitting and fossil fuel sectors, identifies key sectors and clients for climate engagement, and discloses the financial commitment to nature-positive solutions, including time-bound targets. Furthermore, it participates in partnerships to influence sectors and clients on nature-related impacts.

The financial institution has a publicly available policy statement wherein it commits to respecting specific workers’ rights. However, there is scope for improvement as it could enhance this by specifically referencing all the fundamental rights at work as defined by the ILO. Moreover, the institution has the opportunity to be more forthcoming about its processes. It could disclose the methodology it employs to determine a living wage for the regions in which it conducts its operations. Additionally, it has the chance to issue a publicly available policy statement clearly stipulating that it refrains from making any political contributions.

In the context of sustainability, while the financial institution has identified material sustainability impacts across its value chain, it could enhance its transparency by providing a more detailed account of the process. This would include elaborating on how objective criteria and reliable supportable evidence were utilized in the identification and prioritization of these impacts. It is also advisable that the financial institution discloses that it undertakes third-party assurance or verification of its target reporting.

Regarding its climate solutions targets, although the institution has set certain targets related to the provision of its products, services, and capital, these could be further refined to be more precisely defined in terms of timeframes and measurability.

Furthermore, it would be beneficial for the institution to disclose the breakdown of its clients and/or beneficiaries by income group. In relation to its risk assessment process, while it currently includes risks associated with ILO fundamental rights at work for some of those affected by its products, services, and capital, it could expand this coverage to encompass its entire provision. Finally, the institution could also provide an example of actions taken in the past three years to address salient human rights issues identified through risk assessments related to the products, services, and capital it offers.

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.