GAM

The institution publishes an engagement report detailing outcomes related to sustainability impact topics and states that it does not make political contributions. Decision-making and oversight for the sustainability strategy are assigned to the highest governance body, while implementation responsibilities are delegated to various functions, teams, or committees. The stewardship policy encompasses client and stakeholder engagement, advocacy, and partnerships. A publicly available policy statement commits to respecting human rights, and a list of trade associations, specifically the FSB, is disclosed.

Key sectors, clients, and investees for engagement on climate issues are transparently identified, along with prioritised sectors and areas for nature-related impacts, focusing on those with the highest impact from its products, services, and capital. The entity also engages in partnerships to influence and support these sectors, clients, and investees in addressing their nature-related impacts.

The financial institution commits to respecting the ILO’s fundamental rights at work but could strengthen this commitment by formalising it in a policy document. It expects suppliers to uphold specific workers’ rights but should reference all ILO fundamental rights. 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.

While material sustainability impacts are identified, further detail on the process and criteria for prioritisation is needed. Linking senior executive remuneration to sustainability targets is recommended. The stewardship policy includes environmental and social considerations but could better align with sustainability strategies. A strategy for nature protection and restoration should be disclosed, covering priority sectors. Engagement with clients on nature could be enhanced to support their strategies.

Scope 1-2 emissions should be detailed separately, and monitoring of scope 3 categories is recommended. The methodology for carbon footprint calculations needs to cover all aspects, including emissions coverage and data sources. A breakdown of clients by income group and employee numbers per country should be disclosed. The risk assessment process should include ILO rights risks, with a mitigation process for identified risks. An example of actions taken regarding salient human rights issues from the last three years is also recommended.

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.