EIB

The financial institution discloses that decision-making and oversight for its sustainability strategy are assigned to the highest governance body, while implementation responsibility is delegated to various functions, teams, or committees. The financial institution transparently identifies key sectors, clients, and investees for climate engagement, as well as nature-related impacts from its products, services, and capital. It has a strategy to support climate adaptation and resilience, providing examples of relevant products and services. The financial institution monitors its scope 1-2 emissions and emissions from associated financing activities (Scope 3 category 15).

The institution also commits to respecting human rights and has publicly available policy statements committing to respect ILO core labour rights and expecting suppliers to do the same. The financial institution also maintains a gender balance of 40-60% at the senior executive level. Moreover, the institution discloses monetary amounts or shares of products and services provided to women-owned businesses, small and medium-sized enterprises, and low-income countries, along with a breakdown of clients by company size.

The financial institution has processes for identifying social risks related to the net zero transition and describes how it identifies specific human rights risks and impacts, with the results of assessments publicly disclosed.

EIB discloses a stewardship policy that supports environmental transitions and social best practices, it is unclear whether alignment with the sustainability strategy is noted. Under the PATH framework, support for projects with corporations engaged in incompatible activities is generally restricted, with exceptions for low-carbon technologies. The institution aims to increase green finance to 50% and support €1 trillion in green investments from 2021 to 2030, but clarity on the specific distribution of these targets is lacking. While nature-positive finance is defined, there is no evidence of disclosed monetary amounts related to priority sectors impacting nature. A detailed GHG emissions methodology is in place, but clearer references to the GHG protocol concepts are encouraged.

Recommendations include disclosing a transition plan, ensuring scope 1-3 emissions align with interim targets, breaking down clients by income group, avoiding unintended divestment from low-income countries, and providing examples of actions taken on salient human rights issues in 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.