Fairfax Financial

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. It also assigns responsibility for implementing its sustainability strategy to functions, teams or committees within the financial institution.

The financial institution commits to respecting the ILO’s fundamental rights at work but could strengthen this commitment in a formal policy document. It has a publicly available statement for suppliers regarding ILO rights but should formalise this further. There is an opportunity to disclose how a living wage is determined in its operational regions and to include anti-bribery and anti-corruption clauses in contracts. A publicly available policy statement on political contributions is also recommended. Linking senior executive remuneration to sustainability targets is advised.

It is recommended to disclose processes to avoid unintended divestment from low-income countries due to sustainability strategies. While the risk assessment process includes some ILO rights, it should encompass the full set. Identifying social risks related to the net zero transition and providing examples of actions taken on salient human rights issues from recent assessments is also recommended.

The institution should also monitor scope 1-2 emissions at the group level and disclose its scope 3 emissions by category. The financial institution has an opportunity to provide a breakdown of clients by income group.

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.