DNB

The financial institution has a publicly available policy statement committing to respect ILO core labour rights and expects suppliers to do the same. It maintains a gender balance of 40-60% at the senior executive level. The 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.

The institution has a publicly available policy statement committing to respect human rights. It also discloses its membership in trade associations and details specific actions taken to align its lobbying and public policy engagement with its sustainability strategy. Additionally, the institution reports the monetary amount of its products, services, and capital linked to high-emitting and fossil fuel sectors. Furthermore, it not only transparently identifies key sectors, clients, and investees for climate engagement but also actively monitors its Scope 1 and Scope 2 emissions.

While the financial institution identifies and prioritises material sustainability impacts, it could disclose the objective criteria and evidence used in its materiality analysis.

The institution could enhance its transparency by disclosing a time-bound strategy to phase out financing activities for existing fossil fuel projects and clients and investees across the fossil fuel value chain that lack a well-defined strategy aligned with a 1.5°C trajectory. While it has established time-bound and measurable targets for its provision of products, services, and capital for “green” solutions, there is an opportunity to specify the share devoted to climate solutions. The institution could also engage with clients and investees to influence and support them to set strategies for nature-protection and restoration at a group level.

It is recommended that the institution disclose the breakdown of clients or beneficiaries by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Besides, the institution’s risk assessment process should incorporate risks related to ILO fundamental rights at work for those affected by its products and services, with a mitigation process for identified risks. Additionally, it could strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition.

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.