SAMA

No leading practices identified for the financial institution.

The financial institution discloses statements committing to respect the ILO’s fundamental rights at work but could strengthen this by formalising it in a policy document. Furthermore, it has the opportunity to clarify how it determines a living wage in its operational regions. While anti-bribery and anti-corruption clauses are included in contracts, the consequences of breaches could be further specified.

Additional recommendations include disclosing third-party assurance for target reporting, linking senior executive remuneration to sustainability targets, monitoring scope 3 categories, and detailing the methodology for footprint calculations. It is also advised that the entity establishes a transition plan for operations, supply chain, and portfolio, ensuring scope 1-3 emissions align with interim targets.

Furthermore, the breakdown of clients by income group should be disclosed, along with processes to avoid unintended divestment from low-income countries due to sustainability strategies. The financial institution’s risk assessment process should include risks related to ILO fundamental rights, along with a mitigation process for identified risks. Finally, the institution should identify social risks linked to the net zero transition and 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.