Charles Schwab Corporation

The financial institution discloses its approach to lobbying and political engagement in a policy statement. The financial institution specifies that it does not make political contributions. The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. The financial institution discloses a list of the trade associations of which it is a member (FSB specific). The financial institution discloses the amount and/or share (in monetary terms) products, services and capital provided to small-and medium-sized enterprises.

The institution has a publicly available policy statement committing to respect specific workers’ rights but could reference all ILO fundamental rights at work. It has the opportunity to disclose its method for determining a living wage in its operational regions and to include anti-bribery and anti-corruption clauses in contracts. While it identifies material sustainability impacts, further detail on the process and criteria for prioritisation is needed. It is recommended that performance criteria for senior executive remuneration be linked to sustainability targets.

The institution has measurable targets for “green” solutions but could specify the share for climate solutions. Recommendations include monitoring scope 3 categories, detailing the methodology for footprint calculations, and establishing a transition plan for operations, supply chain, and portfolio. It should disclose that its scope 1-3 emissions align with interim targets and provide a breakdown of clients by income group.

Although the risk assessment process includes some ILO fundamental rights, it should cover the full set and disclose a risk mitigation process. Additionally, it should identify social risks related to the net zero transition and provide an example of actions taken regarding salient human rights issues from assessments in the last three years.

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.