CITIC Bank

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body and links senior executive remuneration performance criteria to specific sustainability targets. Implementation of the sustainability strategy is handled by specific functions, teams, or committees within the institution. The financial institution monitors its Scope 1-2 emissions and discloses the amount and/or share (in monetary terms) of products, services, and capital provided to usually excluded groups, as defined by the institution itself. Additionally, it discloses the amount and/or share (in monetary terms) of products, services, and capital provided to small and medium-sized enterprises.

The financial institution discloses commitments to respect the ILO’s fundamental rights at work but could formalise these in a policy document. It has the opportunity to clarify how it determines a living wage in its operational regions. While it identifies material sustainability impacts across its value chain, further detail on the process and criteria for prioritisation is needed. The risk assessment process should include ILO fundamental rights risks related to its products and services, and a method for identifying social risks in the net zero transition is recommended. Lastly, an example of conclusions and actions taken regarding salient human rights issues from the last three years should be provided.

The 2023 target for corporate green loans has been achieved, yet there is potential to establish measurable, time-bound targets for climate solutions.

Disclosure of scope 3 GHG emissions by category is recommended, along with a transition plan covering operations, supply chain, and portfolio. It should also report that its scope 1-3 emissions align with interim targets and provide a breakdown of clients by income group. Although financial investments are disclosed by counterparty location, a country breakdown outside Chinese Mainland is suggested.

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.