Willis Towers Watson

The financial institution publishes an engagement report detailing outcomes related to sustainability impact topics and has publicly available policy statements committing to respect ILO core labour rights and human rights. It specifies that it does not make political contributions and maintains a gender balance of 40-60% at the senior executive level. Furthermore, decision-making and oversight for the sustainability strategy are assigned to the highest governance body, while implementation responsibilities are delegated to various functions, teams, or committees within the institution. Moreover, it has a stewardship policy that encompasses client and stakeholder engagement, advocacy, and partnerships.

The institution transparently identifies key sectors, clients, and investees for engagement on nature-related impacts and actively works with them to influence and support the development of strategies for nature protection and restoration. Additionally, it provides examples of how its offerings support societal climate adaptation and resilience. The institution also monitors its Scope 1-3 emissions as well as emissions from associated financing activities (Scope 3 category 15).

The financial institution expects suppliers to respect specific workers’ rights and has the opportunity to reference all ILO fundamental rights at work. It can disclose its method for determining a living wage for the regions where it operates and require third-party lobbyists to comply with its lobbying and political engagement policy.

The institution has an opportunity to enhance transparency by disclosing third-party assurance or verification of its target reporting and aligning its stewardship policy with its sustainability strategy. Additionally, while it provides a partial list of trade associations it is a member of, disclosing a comprehensive list would further improve transparency. The institution could also publish a transition plan covering its operations, supply chain, and portfolio.

It is recommended that the financial institution disclose the breakdown of clients or beneficiaries by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Its risk assessment process should incorporate risks related to ILO fundamental rights at work for those affected by its products and services, with a mitigation process for identified risks. Additionally, the institution could strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition.

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.