Pacific Mutual

The financial institution discloses the amount and/or share of products, services and capital provided to usually excluded group, defined by the financial institution itself.

The financial institution has the opportunity to disclose its methodology for determining a living wage in its operational regions and to include anti-bribery and anti-corruption clauses in contracts. It is further recommended to disclose third-party assurance for target reporting and to link senior executive remuneration to sustainability targets.

While the financial institution states it will not finance certain fossil fuel projects, clarification is needed regarding its overall stance on providing products or services to new and current fossil fuel initiatives. While the financial institution discloses contributions to ocean conservation by its subsidiary and foundation, it could provide aggregate figures for nature-positive solutions at group level.

The financial institution currently discloses its scope 1-2 emissions but should further detail scope 2 emissions as market-based or location-based, as well as should monitor its financed emissions (Scope 3 category 15). Furthermore, a transition plan covering operations, supply chain, and portfolio should be disclosed, along with a commitment to reduce scope 1-3 emissions in line with interim targets. Additionally, the financial institution should transparently identify the nature-related impacts associated with its provision of products, services and capital.

Additionally, it should include disclosing client breakdowns by income group and processes to avoid unintended divestment from low-income countries. The financial institution’s existing Human Rights policy should include risk assessments related to ILO fundamental rights, and a process for mitigating risks associated with these rights should be disclosed. Finally, the institution should identify social risks related to the net zero transition and provide examples of actions taken on 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.