Pictet

The highest governance body is responsible for decision-making and oversight of the sustainability strategy, while implementation of the strategy is delegated to functions and teams within the financial institution. It discloses a list of trade association it belongs to and publishes a stewardship policy includes client and stakeholder engagement, advocacy, and partnerships.

The institution discloses its financial involvement with high-emitting and fossil fuel sectors and refrains from providing products or services to new fossil fuel projects or clients involved in such projects. Moreover, it engages in partnerships to influence and support sectors, clients and investees to act on their nature-related impacts. The institution monitors its Scope 1-3 emissions and emissions from associated financing activities (Scope 3 category 15). Also, it has established interim targets for 2025 and 2030 aligned with a 1.5C trajectory, with Scope 1-3 emissions reducing in line with these targets.

The financial institution commits to respecting the ILO’s fundamental rights at work but could strengthen this commitment with more formal language. Additionally, it could provide a publicly available policy statement against bribery and corruption and include such clauses in contracts with its business relationships.

While the institution identifies and prioritises material sustainability impacts, it could disclose the objective criteria and evidence used in its materiality analysis. Furthermore, it could disclose time-bound and measurable targets for the provision of products, services and capital for its climate solutions. Although it discloses the aggregate amount and/or share (in monetary terms) of its offerings linked to its priority sectors and areas representing its highest negative impact on nature, it could further detail what this disclosure covers.

It is recommended that the institution disclose the breakdown of clients or beneficiaries by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Besides, the institution’s 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. Moreover, it could strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition.

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.