Postal Savings Bank of China

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body, while implementation is handled by specific functions, teams, or committees. It discloses the amount and/or share (in monetary terms) of products, services, and capital provided to usually excluded groups, as defined by the institution itself. Additionally, the institution discloses the amount and/or share (in monetary terms) of products, services, and capital provided to small and medium-sized enterprises and its operations by country.

The financial institution discloses commitments to respect the ILO’s fundamental rights at work but has the opportunity to formalise these in a policy document. It can also disclose its method for determining a living wage in its operational regions and provide a publicly available policy statement against bribery and corruption, including relevant clauses in contracts. Although evidence of third-party assurance exists, it is unclear if targets are covered. Linking senior executive remuneration to sustainability targets is recommended.Moreover, monitoring of scope 3 emissions by category and transparency in footprint calculation methodology are also suggested. The institution has an opportunity to publish a transition plan for operations, supply chain, and portfolio, and ensure scope 1-3 emissions align with interim targets. It could disclose the breakdown of clients by income group and processes to avoid unintended divestment from low-income countries. The risk assessment process should include ILO fundamental rights risks, with a mitigation process for identified risks. Additionally, identifying social risks related to the net zero transition is recommended, along with providing examples of conclusions and actions taken regarding salient human rights issues from assessments in the past three years.

The financial institution discloses commitments to respect the ILO’s fundamental rights at work but has the opportunity to formalise these in a policy document. It can also disclose its method for determining a living wage in its operational regions and provide a publicly available policy statement against bribery and corruption, including relevant clauses in contracts. Although evidence of third-party assurance exists, it is unclear if targets are covered. Linking senior executive remuneration to sustainability targets is recommended.

Moreover, monitoring of scope 3 emissions by category and transparency in footprint calculation methodology are also suggested. The institution has an opportunity to publish a transition plan for operations, supply chain, and portfolio, and ensure scope 1-3 emissions align with interim targets. It could disclose the breakdown of clients by income group and processes to avoid unintended divestment from low-income countries. The risk assessment process should include ILO fundamental rights risks, with a mitigation process for identified risks. Additionally, identifying social risks related to the net zero transition is recommended, along with providing examples of conclusions and 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.