Zurcher Kantonalbank is a Swiss bank with total assets of CHF 192 billion and 5,145 employees as of 2021. Since its founding in 1970, it has been an independent public law institution operating under the laws of Switzerland and the canton of Zurich. It has more than 50 branches, the majority of which are in the canton of Zurich.
Zurcher Kantonalbank identified and prioritised its impacts through a materiality assessment process which included feedback from external stakeholders. The bank also discloses a list of trade associations of which it is a member including sustainability- and non-sustainability-related organisations.
Zurcher Kantonalbank discloses the aggregate amount of finance it devotes to climate solutions and that these solutions are defined according to an internationally adopted framework. The bank is committed to minimising its negative impacts on nature and biodiversity and discloses the financing criteria it uses to ensure the protection of nature and biodiversity.
Zurcher Kantonalbank has a publicly available policy statement committing it to respect human rights and the health and safety of workers. Its grievance mechanism is accessible to all workers, external individuals and communities to raise human rights complaints or bribery and corruption concerns. Regarding diversity, the bank discloses the proportion of women in its total direct operations workforce for each employee category. Zurcher Kantonalbank also discloses the amount of finance it directs towards young unemployed people.
In terms of its approach to senior leadership accountability, Zurcher Kantonalbank has an opportunity to assign responsibility for sustainability to the group’s highest governing body and link the remuneration of its executive and management teams to sustainability performance criteria. Regarding gender equality, the bank has an opportunity to disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. Furthermore, the bank could describe its engagement approach on sustainability themes and impact topics with clients and investees.
There is no evidence that Zurcher Kantonalbank discloses a target to reach net-zero financed emissions by 2050. The bank has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. The financial institution could also disclose time-bound targets explicitly for its climate solutions.
Zurcher Kantonalbank has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. To provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.
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Net income: CHF 942 million; Total assets: CHF 192 billion