OeEB

OeEb demonstrates leading practice in its disclosure of its financing activities. Not only does it provide examples of how its offerings support climate adaptation and resilience, but it also discloses monetary amounts or shares of products, services, and capital provided to women-owned businesses, small and medium-sized enterprises, and low-income and lower-middle-income countries.

OeEb has a fair number of disclosures across other aspects as well. For instance, it has publicly available policy statements committing to respect ILO core labour rights and human rights. It also discloses its lobbying and political engagement approach and states that it does not make political contributions. Governance-wise, decision-making and oversight for the sustainability strategy are assigned to the highest governance body, while implementation responsibility is delegated to various functions, teams, or committees. Notably, gender balance at the senior executive level is maintained between 40-60%. It also has a stewardship policy that supports environmental transitions and social best practices aligned with the sustainability strategy, as well as a time-bound strategy to phase out products, services, and capital to fossil fuel projects lacking a strategy aligned with a 1.5°C trajectory. Lastly, it discloses operational data by country, such as the number of employees or revenue.

There is scope for OeEb to enhance its disclosures across various areas, particularly its operational carbon footprint and financing provided towards nature-positive solutions. While OeEB discloses a total sum of its Scope 1-2 emissions across its subsidiaries from various lines of businesses, OeEB has an opportunity to discose if it monitors its Scope 1-2 emissions.It is also recommended that OeEb discloses that it monitors other scope 3 categories, by category and transparently details the methodology applied in their footprint calculation. It could also consider establishing a transition plan covering its own operations, supply chain and portfolio and tracking if its scope 1-3 emissions reduce in line with its interim targets. While OeEb discloses the aggregate amount and/or share (in monetary terms) of its provision of products, services and capital linked to its priority sectors and areas representing their highest negative impact on nature, it could further detail what this disclosure covers.

OeEb could also consider disclosing that its risk assessment process includes risks associated with the ILO fundamental rights at work for those impacted by its provision of products, services and capital. Additionally, it should identify social risks linked to the net zero transition and provide examples of actions taken regarding salient human rights issues from recent assessments. It has an opportunity to disclose how it determines a living wage for the regions where it operates as well.

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.