Maybank

The financial institution has publicly available policy statements committing to respect ILO core labour rights and human rights. It maintains a gender balance of 40-60% at the senior executive level and assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. Performance criteria for senior executive remuneration are linked to specific sustainability targets, and responsibility for implementing the sustainability strategy is assigned to various functions, teams, or committees. The institution discloses the monetary amount or share of its products, services, and capital related to high-emitting and fossil fuel sectors, along with time-bound and measurable targets for climate solutions.

Additionally, the institution monitors its scope 1-2 emissions and emissions from associated financing activities (Scope 3 category 15). Moreover, it discloses the monetary amount of financial services provided to women-owned businesses, usually excluded groups, small and medium-sized enterprises, and low-income and lower-middle-income countries. It also has a process in place for identifying social risks associated with its provision of products, services, and capital in relation to the net zero transition.

The financial institution expects its suppliers to respect the ILO’s fundamental rights at work but could strengthen its language to formalise this commitment. It has the opportunity to clarify how it determines a living wage in its operational regions. While it identifies material sustainability impacts across its value chain, further detail on the criteria and evidence used for prioritisation is needed.

The institution discloses a list of trade associations it is a member of but could enhance transparency by providing a comprehensive list of all its memberships. Although it does not provide financing to certain fossil fuel projects or clients and investees undertaking such projects, it has the opportunity to extend these restrictions to all types of fossil fuels. While it monitors scope 3 emissions beyond financed emissions, it could cover additional categories and provide a rationale for those excluded.

It is recommended that the institution disclose the breakdown of clients by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Also, its risk assessment process should incorporate risks related to ILO fundamental rights at work for those affected by its products and services, with a mitigation process for identified risks. Additionally, It could also provide an example of actions taken in the past three years to address salient human rights issues identified through risk assessments related to the products, services, and capital it offers to enhance transparency.

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.