Grupo Aval Acciones y Valores

Grupo Aval Acciones y Valores has identified and prioritised its impacts through a materiality assessment process which included feedback from external stakeholders. It also discloses a list of trade associations of which it is a member including sustainability- and non-sustainability-related organisations.

Grupo Aval Acciones y Valores discloses the aggregate amount and share of finance it devotes to climate solutions while specifying what these solutions are.

Grupo Aval Acciones y Valores discloses the proportion of women in its total direct operations workforce for each employee category. It also discloses the amount of finance it directs towards small businesses.

In terms of its approach to senior leadership accountability, while Grupo Aval Acciones y Valores board of directors supports the implementation of sustainability, it is unclear that the end responsibility for sustainability issues lies with this body. Moreover, there is no evidence that the financial institution links the remuneration of its executive or management teams to sustainability performance criteria. Women are also underrepresented on the board of directors where only 2 out of 7 board members are women. The financial institution has an opportunity to reach at least 40% female representation in senior leadership positions and on the board. It could also disclose the actions taken to address any pay gaps. The financial institution has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees.

There is no evidence that Grupo Aval Acciones y Valores discloses a target to reach net-zero financed emissions by 2050. Furthermore, 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. The financial institution has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on alignment with the Paris Agreement. Regarding nature and biodiversity, the financial institution has an opportunity to commit to minimising its negative impacts.

Grupo Aval Acciones y Valores states that it respects human rights, but has an opportunity to place this statement in a formal policy document. It could also describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. The financial institution discloses the ages of its board members and executive officers, but has an opportunity to disclose this information for each employee category. Moreover, while the financial institution discloses that it directs finance towards women led companies, it could provide an amount. The financial institution could also disclose the amount of finance directed towards low-income developing countries.