Industrial Bank

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body, while implementation is handled by specific functions, teams, or committees. The assessed entity engages in partnerships to support sectors, clients, and investees in addressing nature-related impacts. The institution discloses the amount and/or share (in monetary terms) of products, services, and capital provided to small and medium-sized enterprises. Additionally, it discloses its operations by country, such as by number of employees or revenue.

The institution has a publicly available policy statement committing to respect specific workers’ rights but could reference all ILO fundamental rights at work. It has the opportunity to disclose its method for determining a living wage in its operational regions and to include anti-bribery and anti-corruption clauses in contracts. While it identifies material sustainability impacts across its value chain, further detail on the process and criteria for prioritisation is needed. It is recommended that performance criteria for senior executive remuneration be linked to specific sustainability targets. Although it provides financing for a company managing a national wetland park, more information on its contribution to nature-positive solutions is suggested. The institution should disclose monitoring of other scope 3 categories and establish a transition plan for its operations, supply chain, and portfolio, ensuring scope 1-3 emissions align with interim targets.

Additionally, it should include risks associated with ILO fundamental rights in its risk assessment process and identify social risks related to the net zero transition. Finally, an example of conclusions and actions taken regarding salient human rights issues from assessment processes in the last three years is 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.