GIC

In terms of senior leadership accountability, the responsibility for sustainability issues within GIC lies with the board of directors. The financial institution describes its approach to engagement on sustainability themes and impact topics with investees, including how engagement is undertaken in practice.

GIC discloses the key companies it has identified as priorities to engage with on climate change, and the rationale for choosing these priorities. Moreover, as a member of Climate Action 100+, the financial institution discloses that it collectively engages with its clients on the topic of climate change.

GIC discloses that the board of directors has responsibility for its global tax strategy.

There is no evidence that GIC links the remuneration of its executive or management teams to sustainability performance criteria. Moreover, there is no evidence that the financial institution has a public commitment to gender equality and women’s empowerment. The financial institution has zero women on its board of directors. It has an opportunity to reach at least 40% female representation in senior leadership positions and on the board. It could also disclose actions taken to address any pay gaps. While GIC discloses its engagement approach, it has an opportunity to publish case studies describing where it has engaged successfully with investees on on sustainability themes and impact topics.

There is no evidence that GIC discloses a target to reach net-zero financed emissions by 2050. Moreover, no evidence of an approach to fossil fuels, which covers the entire fossil fuel value chain and all of the financial institution’s financing activities, was found in the public domain. This could include the amount or share of finance directed towards fossil fuels, or the financial institutions stance on financing companies with new fossil fuel projects. There is an opportunity for the financial institution to disclose that it requires companies to which it provides financial services to have a strategy aligned with the Paris Agreement. It could also disclose its financing activities devoted to climate solutions. Regarding nature and biodiversity, GIC has an opportunity to commit to minimising its negative impacts.

There is no evidence that GIC has a publicly available policy statement committing it to respect human rights. Moreover, while the financial institution provides a grievance mechanism accessible to all stakeholders to raise human rights concerns or complaints, it should specify that complainants have the option to identify themselves or remain anonymous. The financial institution could describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. To provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.