Raymond James Financial

The financial institution has a publicly available policy statement committing to respect ILO core labor rights. It assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body, and implementation responsibilities to specific functions, teams, or committees within the institution. Additionally, the financial institution has a policy statement committing to respect human rights. 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. The financial institution also discloses its operations by country, such as by number of employees or revenue.

The financial institution expects its suppliers to respect the ILO’s fundamental rights at work but could strengthen its language to formalise this commitment. It has the opportunity to disclose its methodology for determining a living wage in its operational regions. Although there is a policy statement prohibiting political contributions from workers, a publicly available policy clarifying that the institution itself does not make such contributions is recommended.

Linking senior executive remuneration to specific sustainability targets and monitoring scope 3 emissions by category are also suggested. While some details on carbon footprint calculation methodology are provided, a comprehensive disclosure covering emissions for each category, data types, sources, and standards is needed. A breakdown of clients by income group and processes to prevent divestment from low-income countries due to sustainability strategies should be disclosed. The risk assessment process currently addresses some ILO rights but could encompass the full set. Identifying social risks related to the net zero transition and providing examples of actions taken on salient human rights issues from recent assessments are also recommended.

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.