Citizens Financial Group

The financial institution has a publicly available policy statement committing it to respect the ILO core labour rights. The financial institution has a plan for aligning its stewardship activities with its targets. The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. The financial institution has a publicly available policy statement committing it to respect human rights. The financial institution discloses a list of the trade associations of which it is a member.

The financial institution transparently identifies the key sectors, clients and investees to engage with on climate issues. The financial institution monitors its scope 1-2 emissions. The financial institution discloses the amount and/or share (in monetary terms) products, services and capital provided to small-and medium-sized enterprises.

The financial institution expects suppliers to respect specific workers’ rights and has the opportunity to reference all ILO fundamental rights at work. It can disclose how it determines a living wage in its operational regions. While prohibiting bribery and corruption, there is an opportunity to formalise this commitment in a public policy document. The institution could also disclose a publicly available policy statement regarding political contributions. It identifies material sustainability impacts across its value chain but could provide more detail on its process for prioritising these impacts.

Recommendations include linking senior executive remuneration to sustainability targets and monitoring scope 3 categories. The institution provides some details on its carbon footprint methodology but could improve by covering all aspects, including emissions coverage and data sources. It is recommended to disclose a transition plan for its operations, supply chain, and portfolio, as well as a breakdown of clients by income group.

The risk assessment process should include risks related to ILO fundamental rights and a mitigation process for identified risks. Additionally, it should identify social risks associated with the net zero transition and provide examples of conclusions and actions taken regarding salient human rights issues from 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.