CIMB

The financial institution publishes an engagement report on sustainability impact topics and has a publicly available policy committing to respect ILO core labour rights, which also extends to its suppliers. It discloses lobbying expenditures and conducts third-party assurance of target reporting. Additionally, oversight of the sustainability strategy is assigned to the highest governance body, with performance criteria for senior executive remuneration linked to sustainability targets. It delegates the responsibility for implementing its sustainability strategy to specific functions or teams within the institution. Also, it has a stewardship policy that outlines criteria for successful outcomes, escalation routes, and conditions for escalation.

The financial institution has a publicly available policy statement that commits to respecting human rights and discloses its lobbying positions and actions aligning with its sustainability strategy. It reports on financial involvement with high-emitting and fossil fuel sectors, refraining from supporting new fossil fuel projects. Not only does the financial institution transparently identify the key sectors, clients, and investees to engage with on nature-related impacts, but it also influences and supports them to set up strategies for nature protection and restoration.

Moreover, the institution monitors its scope 1-2 emissions and emissions from associated financing activities (Scope 3 category 15). It discloses financial services provided to women-owned businesses, usually excluded groups, small and medium-sized enterprises, and low-income and lower-middle-income countries. It also reports its business operations such as the number of employees by country.

The financial institution has an opportunity to disclose how it determines a living wage for the regions where it operates. It could include anti-bribery and anti-corruption clauses in its contracts with business relationships. The institution also states that political contributions are made with Board approval and recorded accurately, but it could clarify if these are exceptional and the criteria for them.

While the financial institution identifies and prioritises material sustainability impacts, it has the opportunity to disclose the objective criteria and evidence used in its materiality analysis. It discloses a list of some trade associations of which it is a member but could provide a comprehensive list of its membership to enhance transparency. Although it advocates for the Paris Agreement, it could publish a document committing to avoid adverse sustainability impacts through lobbying and political engagement.

It is recommended that the financial institution disclose the breakdown of clients by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Additionally, it could strengthen its disclosure by providing 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.