Old Mutual

In terms of governance, the financial institution delegates decision-making and oversight of its sustainability strategy to the highest governance body and links senior executive remuneration criteria to specific sustainability targets. Moreover, responsibility for implementing the strategy is assigned to internal functions, teams, or committees.

The financial institution discloses its lobbying and political positions on sustainability topics and identifies key sectors, clients, and investees for climate engagement. Furthermore, it provides examples of how its products, services, and capital support societal climate adaptation and resilience. Finally, the entity reports the monetary amount or share of products, services, and capital directed to low- and lower-middle-income countries.

The financial institution has opportunities to enhance transparency regarding its determination of a living wage in its operational regions and to clarify its policy on political contributions. It identifies material sustainability impacts but could provide more detail on the criteria used for their prioritisation. Furthermore, a group-level stewardship policy supporting environmental and social best practices aligned with its sustainability strategy is recommended.

Additionally, the financial institution should disclose a comprehensive list of trade association memberships and specific actions to align lobbying with sustainability goals. Time-bound, measurable targets for climate solutions and a transition plan covering operations, supply chain, and portfolio are also recommended. It is further recommended that the financial institution disclose a strategy for the protection and restoration of nature covering at least its priority sectors and area.

The financial institution should also disclose a breakdown of clients by income group and processes to avoid unintended divestment from low-income countries. The entity’s risk assessment process should include ILO fundamental rights at work, with a mitigation strategy for identified risks. Finally, the institution should identify social risks related to the net zero transition and provide examples of actions taken regarding salient human rights issues from assessments in the past three years.

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.