Standard Chartered

The financial institution has a publicly available policy statement requiring suppliers to respect ILO core labour rights and specifies that it does not make political contributions. It maintains a gender balance of 40-60% at the senior executive level and assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. Performance criteria for senior executive remuneration are linked to specific sustainability targets, with implementation responsibility assigned to various functions, teams, or committees.

The financial institution has a stewardship policy which supports environmental transitions and social best practices aligned with its sustainability strategy. The institution discloses its membership in trade associations, as well as the monetary amount of products, services, and capital linked to high-emitting and fossil fuel sectors. Furthermore, it identifies key sectors, clients, and investees for engagement on climate and nature-related issues. It provides examples of how its offerings support climate adaptation and resilience, monitors scope 1-2 emissions, and tracks emissions from associated financing activities (Scope 3 category 15) as well as other scope 3 categories. Additionally, it discloses the monetary amount of products, services, and capital provided to small and medium-sized enterprises, and details its operations by country, including the financial support extended to low-income and lower-middle-income countries.

The financial institution is advised to transparently identify and prioritise its material sustainability impacts across its value chain using objective criteria. Additionally, it should require third-party lobbyists to comply with its lobbying and political engagement policy. It should disclose that it conducts third-party assurance or verification of target reporting and commit to not using its lobbying power to create adverse sustainability impacts. The institution further has the opportunity to align its lobbying and public policy engagement with its sustainability strategy.

While the financial institution discloses the total amount dedicated to sustainable financing, specifying the share provided to climate mitigation solutions, nature-positive solutions and to its priority sectors and areas representing their highest negative impact on nature is recommended. Additionally, it should disclose a transition plan for its operations, supply chain, and portfolio, and ensure that its scope 1-3 emissions align with interim targets. The breakdown of clients by income group and processes to avoid divestment from low-income countries should be disclosed, along with a risk assessment process that includes ILO fundamental rights. The institution is also encouraged to identify social risks related to the net zero transition and provide examples of actions taken regarding salient human rights issues from assessments conducted in the last 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.