Swedbank

The financial institution has a publicly available policy statement requiring suppliers to respect ILO core labour rights and commits to human rights. It does not make political contributions and discloses its membership in trade associations. The institution assigns decision-making and oversight for its sustainability strategy to its highest governance body. Performance criteria for senior executive remuneration are linked to specific sustainability targets, with implementation responsibility for the sustainability strategy assigned to various functions, teams, or committees.

The financial institution discloses the monetary value of products and services linked to high-emitting and fossil fuel sectors. It also transparently identifies key sectors, clients, and investees for climate engagement and monitors Scope 1-2 emissions as well as its emissions from associated financing activities (Scope 3 category 15). Additionally, it discloses the monetary value of products and services provided to women-owned businesses, usually excluded groups, and small- and medium-sized enterprises.

The financial institution has the opportunity to disclose its methodology for determining a living wage in its operational regions. It identifies material sustainability impacts across its value chain, but could provide more detail on the criteria and evidence used for prioritisation. Third-party assurance or verification of target reporting is also recommended, as well as disclosing its positions taken in lobbying and political engagement activities on sustainability topics.

The financial institution should disclose a stewardship policy supporting environmental transitions and social best practices aligned with its sustainability strategy. Although it has restrictions on financing high-impact fossil fuel activities, it should clarify that it abstains from providing products or services to new and current fossil fuel projects. A strategy for nature protection and restoration in priority sectors is also recommended. While the financial institution discloses total scope 3 emissions, it should specify coverage by category and rationale for exclusions. Moreover, a breakdown of clients by income group and processes to avoid divestment from low-income countries as a result of sustainability strategies should be disclosed.

The financial institution’s human rights analysis includes the ILO convention, but a risk assessment process for ILO rights at work, as well as a mitigation process is recommended. It also has the opportunity to disclose a process for identifying social risks related to the net zero transition. Finally, an example of conclusions and actions taken regarding salient human rights issues from the last three years should be provided.

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.