China Zheshang Bank

The financial institution entrusts its highest governance body with decision-making and oversight of its sustainability strategy. It delegates the implementation of this strategy to dedicated functions, teams, or committees within the organization and actively monitors its Scope 1 and Scope 2 emissions.

While a materiality assessment considers industry trends, national policies, and stakeholder interests, it does not use objective criteria to determine disclosed material impacts or specify the types of impacts considered. Recommendations include linking senior executive remuneration to sustainability targets, monitoring scope 3 emissions by category, establishing a transition plan for operations, supply chain, and portfolio, and ensuring scope 1-3 emissions align with interim targets. It is advised to disclose client breakdowns by income group, processes to avoid divestment from low-income countries, and to include risks related to ILO rights in risk assessments. The entity should also identify social risks linked to the net zero transition and provide examples of conclusions and actions taken regarding salient human rights issues from assessments in the past three years. Additionally, the institution has a publicly available statement on ILO fundamental rights at work, but it lacks formal approval from the highest governance body. It also has a statement against bribery and corruption, yet this is not included in a policy document or webpage

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.