Investec

The financial institution has a publicly available policy statement committing to respect ILO core labour rights and human rights. Moreover, it discloses its lobbying and political engagement approach and states that it does not make political contributions. Third-party assurance or verification is also conducted for its target reporting.

In terms of governance, the financial institution assigns decision-making and oversight responsibility for the sustainability strategy to the highest governance body, along with linking performance criteria for senior executive remuneration to specific sustainability targets. Moreover, implementation of the sustainability strategy is assigned to various functions, teams, or committees.

The financial institution discloses the monetary amount/share of its products, services, and capital linked to high-emitting and fossil fuel sectors, and has a time-bound strategy to phase out support for existing fossil fuel projects lacking a well-defined strategy aligned with a 1.5°C trajectory. It engages in partnerships to influence sectors, clients, and investees regarding their nature-related impacts and provides examples of how its offerings support climate adaptation and resilience. Additionally, it monitors its Scope 1-2 emissions and emissions from associated financing activities (Scope 3 category 15). Finally, the financial institution includes just transition in its stewardship activities.

The financial institution has the opportunity to disclose its methodology for determining a living wage in its operational regions. Although it identifies material sustainability impacts across its value chain, it could provide more detail on the objective criteria and evidence used for prioritisation. Additionally, a group-level stewardship policy supporting environmental transitions and social best practices could be disclosed.

The financial institution discloses some trade association memberships, however, has the opportunity to provide a complete list. Furthermore, specific actions taken to align lobbying and public policy engagement with its sustainability strategy could also be disclosed. It is further recommended that the entity discloses time-bound, measurable targets for climate mitigation solutions. In addition, although it discloses a biodiversity statement, a strategy for nature protection and restoration covering priority sectors and areas is needed. A transition plan covering operations, supply chain, and portfolio should also be established, with scope 1-3 emissions reducing in line with interim targets.

The financial institution should disclose processes to avoid divestment from low-income countries as a result of sustainability strategies. Furthermore, a risk assessment process related to ILO fundamental rights for those impacted by its offerings is recommended, along with processes to mitigate associated risks. Finally, a process for identifying social risks in relation to the net zero transition should be disclosed, along with an example of actions taken regarding salient human rights issues from recent assessments.

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.