Public Bank 

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body, which includes linking senior executive remuneration to specific sustainability targets. The implementation responsibility of the sustainability strategy is delegated to functions, teams, or committees within the institution. It has a publicly available policy statement that commits to respecting human rights.

The institution monitors its scope 1-2 emissions and emissions resulting from its associated financing activities (Scope 3 category 15). Furthermore, it discloses the monetary amount of products, services, and capital provided to small and medium-sized enterprises as well as low-income and lower-middle-income countries. Additionally, the institution also reports its operational details by country.

The financial institution commits to respecting the ILO’s fundamental rights at work but could strengthen its language to formalise this commitment. It expects suppliers to uphold specific workers’ rights but has the opportunity to reference all ILO fundamental rights at work.

While the institution identifies and prioritizes material sustainability impacts, it could enhance transparency by disclosing the objective criteria and evidence used in its materiality analysis. It discloses a list of some trade associations it is a member of but could provide a comprehensive list of its membership to enhance transparency. Although the institution has time-bound and measurable targets for the provision of products, services, and capital for “green” solutions, it could specify the share devoted to climate solutions. Furthermore, it discloses that it engages with clients and investees to influence and support them to set strategies for nature-protection and restoration but could provide evidence detailing this engagement.

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. Its 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, the institution could strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition. It could also provide an example of actions taken in the past three years to address salient human rights issues identified through risk assessments related to the products, services, and capital it offers.

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.