Punjab National Bank

The financial institution assigns responsibility for implementing its sustainability strategy to functions, teams or committees within the financial institution. Moreover, the financial institution discloses a list of the trade associations of which it is a member. It also discloses the amount and/or share (in monetary terms) of products, services and capital provided to usually excluded group, defined by the financial institution itself. Additionally, the financial institution discloses the amount and/or share (in monetary terms) products, services and capital provided to small-and medium-sized enterprises.

The financial institution commits to respecting the ILO’s fundamental rights at work and has the opportunity to formalise this in a policy document. It can 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. While it identifies material financial risks related to sustainability, it should also prioritise and disclose its materiality analysis. Recommendations include linking senior executive remuneration to sustainability targets, establishing a transition plan for operations, supply chain, and portfolio, and ensuring scope 1-3 emissions align with interim targets. The institution is advised to disclose the breakdown of clients and beneficiaries by income group and country, as well as processes to avoid divestment from low-income countries due to sustainability strategies. Additionally, it should include risks associated with ILO fundamental rights in its risk assessment and identify social risks related to the net zero transition. Finally, it is recommended to provide 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.