Governance and strategy

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This measurement area focuses on the integration of impact considerations and targets into financial institutions’ core strategy and governance structure. It looks at the process that financial institutions have in place to identify and prioritise their positive and negative, intended and unintended impacts on the economy, society and the environment, and it examines the related targets that financial institutions have set.

It also assesses how the financial institutions’ highest governing board is responsible and accountable for progress against these targets and how remuneration is linked to progress. It includes metrics on gender equality and diversity and evaluates the engagement policy that financial institutions have in place as responsible stewards of assets. Finally, it examines how financial institutions engage with the companies they provide financing to and with policy makers.

Ranking table

 Total score out of 100 Governance and strategy out of 40 Respecting planetary boundaries out of 30 Adhering to societal conventions out of 30
1 CIMB
Total score 42.3 /100
Governance and strategy 25.6 /40
Governance and strategy 25.6 /40
Respecting planetary boundaries 9.4 /30
Adhering to societal conventions 7.3 /30
2 ADB
Total score 43.0 /100
Governance and strategy 25.3 /40
Governance and strategy 25.3 /40
Respecting planetary boundaries 11.9 /30
Adhering to societal conventions 5.8 /30
3 Bank of Montreal (BMO)
Total score 52.5 /100
Governance and strategy 24.7 /40
Governance and strategy 24.7 /40
Respecting planetary boundaries 13.3 /30
Adhering to societal conventions 14.5 /30
4 EIB Group
Total score 50.9 /100
Governance and strategy 24.0 /40
Governance and strategy 24.0 /40
Respecting planetary boundaries 16.7 /30
Adhering to societal conventions 10.3 /30
5 Aviva
Total score 51.2 /100
Governance and strategy 23.7 /40
Governance and strategy 23.7 /40
Respecting planetary boundaries 15.0 /30
Adhering to societal conventions 12.5 /30
6 Swiss Re
Total score 33.5 /100
Governance and strategy 21.8 /40
Governance and strategy 21.8 /40
Respecting planetary boundaries 6.7 /30
Adhering to societal conventions 5.0 /30
7 NN Group
Total score 41.6 /100
Governance and strategy 21.6 /40
Governance and strategy 21.6 /40
Respecting planetary boundaries 12.5 /30
Adhering to societal conventions 7.5 /30
8 Banco Bilbao Vizcaya Argentaria (BBVA)
Total score 32.1 /100
Governance and strategy 20.5 /40
Governance and strategy 20.5 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 10.0 /30
9 Sun Life Financial
Total score 33.2 /100
Governance and strategy 19.6 /40
Governance and strategy 19.6 /40
Respecting planetary boundaries 8.1 /30
Adhering to societal conventions 5.5 /30
10 Credit Agricole
Total score 43.4 /100
Governance and strategy 19.4 /40
Governance and strategy 19.4 /40
Respecting planetary boundaries 12.9 /30
Adhering to societal conventions 11.0 /30
11 BNP Paribas
Total score 49.1 /100
Governance and strategy 19.2 /40
Governance and strategy 19.2 /40
Respecting planetary boundaries 14.9 /30
Adhering to societal conventions 15.0 /30
- NatWest Group
Total score 40.0 /100
Governance and strategy 19.2 /40
Governance and strategy 19.2 /40
Respecting planetary boundaries 13.1 /30
Adhering to societal conventions 7.8 /30
13 Assicurazioni Generali
Total score 33.2 /100
Governance and strategy 17.9 /40
Governance and strategy 17.9 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 7.5 /30
14 Societe Generale
Total score 39.9 /100
Governance and strategy 17.7 /40
Governance and strategy 17.7 /40
Respecting planetary boundaries 9.4 /30
Adhering to societal conventions 12.8 /30
15 APG Group
Total score 31.2 /100
Governance and strategy 17.1 /40
Governance and strategy 17.1 /40
Respecting planetary boundaries 13.1 /30
Adhering to societal conventions 1.0 /30
16 FMO
Total score 37.1 /100
Governance and strategy 17.0 /40
Governance and strategy 17.0 /40
Respecting planetary boundaries 6.4 /30
Adhering to societal conventions 13.8 /30
17 Caixabank
Total score 37.9 /100
Governance and strategy 16.9 /40
Governance and strategy 16.9 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 13.3 /30
18 UBS
Total score 38.4 /100
Governance and strategy 16.8 /40
Governance and strategy 16.8 /40
Respecting planetary boundaries 13.9 /30
Adhering to societal conventions 7.8 /30
19 State Street Corporation
Total score 23.3 /100
Governance and strategy 16.7 /40
Governance and strategy 16.7 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 5.0 /30
20 Standard Bank
Total score 28.5 /100
Governance and strategy 16.6 /40
Governance and strategy 16.6 /40
Respecting planetary boundaries 4.2 /30
Adhering to societal conventions 7.8 /30
21 ABN AMRO
Total score 39.8 /100
Governance and strategy 16.3 /40
Governance and strategy 16.3 /40
Respecting planetary boundaries 10.0 /30
Adhering to societal conventions 13.5 /30
22 BlackRock
Total score 34.4 /100
Governance and strategy 16.2 /40
Governance and strategy 16.2 /40
Respecting planetary boundaries 10.0 /30
Adhering to societal conventions 8.3 /30
- Intesa Sanpaolo
Total score 29.7 /100
Governance and strategy 16.2 /40
Governance and strategy 16.2 /40
Respecting planetary boundaries 2.5 /30
Adhering to societal conventions 11.0 /30
24 Caisse de dépôt et placement du Québec (CDPQ)
Total score 32.4 /100
Governance and strategy 16.0 /40
Governance and strategy 16.0 /40
Respecting planetary boundaries 11.1 /30
Adhering to societal conventions 5.3 /30
- abrdn plc
Total score 37.6 /100
Governance and strategy 16.0 /40
Governance and strategy 16.0 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 13.0 /30
26 Allianz
Total score 40.1 /100
Governance and strategy 15.6 /40
Governance and strategy 15.6 /40
Respecting planetary boundaries 12.2 /30
Adhering to societal conventions 12.3 /30
- ING
Total score 36.5 /100
Governance and strategy 15.6 /40
Governance and strategy 15.6 /40
Respecting planetary boundaries 8.9 /30
Adhering to societal conventions 12.0 /30
28 CVC Capital Partners
Total score 16.2 /100
Governance and strategy 15.3 /40
Governance and strategy 15.3 /40
Respecting planetary boundaries 0.8 /30
Adhering to societal conventions 0.0 /30
29 Norges Bank Investment Management
Total score 31.0 /100
Governance and strategy 15.2 /40
Governance and strategy 15.2 /40
Respecting planetary boundaries 10.3 /30
Adhering to societal conventions 5.5 /30
30 Alecta
Total score 25.3 /100
Governance and strategy 15.1 /40
Governance and strategy 15.1 /40
Respecting planetary boundaries 7.5 /30
Adhering to societal conventions 2.8 /30
31 Fidelity International
Total score 31.5 /100
Governance and strategy 14.8 /40
Governance and strategy 14.8 /40
Respecting planetary boundaries 12.8 /30
Adhering to societal conventions 4.0 /30
- Julius Bär
Total score 22.6 /100
Governance and strategy 14.8 /40
Governance and strategy 14.8 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 4.5 /30
33 Sumitomo Mitsui Financial Group
Total score 27.0 /100
Governance and strategy 14.5 /40
Governance and strategy 14.5 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 4.8 /30
34 Zurich Insurance Group
Total score 29.0 /100
Governance and strategy 14.2 /40
Governance and strategy 14.2 /40
Respecting planetary boundaries 8.3 /30
Adhering to societal conventions 6.5 /30
35 Citigroup
Total score 33.3 /100
Governance and strategy 14.0 /40
Governance and strategy 14.0 /40
Respecting planetary boundaries 7.5 /30
Adhering to societal conventions 11.8 /30
- Credit Suisse Group
Total score 28.1 /100
Governance and strategy 14.0 /40
Governance and strategy 14.0 /40
Respecting planetary boundaries 9.6 /30
Adhering to societal conventions 4.5 /30
37 Prudential
Total score 26.9 /100
Governance and strategy 13.9 /40
Governance and strategy 13.9 /40
Respecting planetary boundaries 7.5 /30
Adhering to societal conventions 5.5 /30
38 ANZ Banking Group
Total score 28.5 /100
Governance and strategy 13.4 /40
Governance and strategy 13.4 /40
Respecting planetary boundaries 8.1 /30
Adhering to societal conventions 7.0 /30
39 M&G
Total score 31.2 /100
Governance and strategy 13.3 /40
Governance and strategy 13.3 /40
Respecting planetary boundaries 10.8 /30
Adhering to societal conventions 7.0 /30
- Ninety One
Total score 20.7 /100
Governance and strategy 13.3 /40
Governance and strategy 13.3 /40
Respecting planetary boundaries 5.8 /30
Adhering to societal conventions 1.5 /30
41 Schroders
Total score 34.9 /100
Governance and strategy 13.1 /40
Governance and strategy 13.1 /40
Respecting planetary boundaries 12.8 /30
Adhering to societal conventions 9.0 /30
42 Lloyds Banking Group
Total score 28.9 /100
Governance and strategy 13.1 /40
Governance and strategy 13.1 /40
Respecting planetary boundaries 8.1 /30
Adhering to societal conventions 7.8 /30
43 Bank of Nova Scotia
Total score 27.4 /100
Governance and strategy 12.9 /40
Governance and strategy 12.9 /40
Respecting planetary boundaries 5.0 /30
Adhering to societal conventions 9.5 /30
- Commerzbank
Total score 21.8 /100
Governance and strategy 12.9 /40
Governance and strategy 12.9 /40
Respecting planetary boundaries 1.9 /30
Adhering to societal conventions 7.0 /30
- GAM
Total score 21.8 /100
Governance and strategy 12.9 /40
Governance and strategy 12.9 /40
Respecting planetary boundaries 4.4 /30
Adhering to societal conventions 4.5 /30
46 Banco Santander
Total score 28.0 /100
Governance and strategy 12.4 /40
Governance and strategy 12.4 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 7.0 /30
- CDP Group
Total score 21.1 /100
Governance and strategy 12.4 /40
Governance and strategy 12.4 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 7.0 /30
- PGGM
Total score 29.1 /100
Governance and strategy 12.4 /40
Governance and strategy 12.4 /40
Respecting planetary boundaries 14.2 /30
Adhering to societal conventions 2.5 /30
- Siam Commercial Bank
Total score 26.5 /100
Governance and strategy 12.4 /40
Governance and strategy 12.4 /40
Respecting planetary boundaries 0.8 /30
Adhering to societal conventions 13.3 /30
- TIAA
Total score 19.7 /100
Governance and strategy 12.4 /40
Governance and strategy 12.4 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 4.0 /30
- Westpac
Total score 27.2 /100
Governance and strategy 12.4 /40
Governance and strategy 12.4 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 11.5 /30
52 Manulife
Total score 21.9 /100
Governance and strategy 12.3 /40
Governance and strategy 12.3 /40
Respecting planetary boundaries 3.6 /30
Adhering to societal conventions 6.0 /30
- National Australia Bank
Total score 29.3 /100
Governance and strategy 12.3 /40
Governance and strategy 12.3 /40
Respecting planetary boundaries 10.6 /30
Adhering to societal conventions 6.5 /30
54 Arbejdsmarkedets Tillaegspension (ATP)
Total score 25.5 /100
Governance and strategy 12.2 /40
Governance and strategy 12.2 /40
Respecting planetary boundaries 10.8 /30
Adhering to societal conventions 2.5 /30
- Aware Super
Total score 22.6 /100
Governance and strategy 12.2 /40
Governance and strategy 12.2 /40
Respecting planetary boundaries 6.9 /30
Adhering to societal conventions 3.5 /30
- St. James' Place
Total score 22.5 /100
Governance and strategy 12.2 /40
Governance and strategy 12.2 /40
Respecting planetary boundaries 5.3 /30
Adhering to societal conventions 5.0 /30
57 KBC Groep
Total score 28.9 /100
Governance and strategy 12.1 /40
Governance and strategy 12.1 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 9.0 /30
- Sberbank
Total score 22.2 /100
Governance and strategy 12.1 /40
Governance and strategy 12.1 /40
Respecting planetary boundaries 0.8 /30
Adhering to societal conventions 9.3 /30
59 Absa Group
Total score 24.0 /100
Governance and strategy 11.9 /40
Governance and strategy 11.9 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 8.8 /30
- Akbank
Total score 17.6 /100
Governance and strategy 11.9 /40
Governance and strategy 11.9 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 4.0 /30
- Itau Unibanco
Total score 27.7 /100
Governance and strategy 11.9 /40
Governance and strategy 11.9 /40
Respecting planetary boundaries 5.8 /30
Adhering to societal conventions 10.0 /30
62 Anima Holding
Total score 16.1 /100
Governance and strategy 11.6 /40
Governance and strategy 11.6 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 4.5 /30
- Sumitomo Mitsui Trust Holdings
Total score 20.1 /100
Governance and strategy 11.6 /40
Governance and strategy 11.6 /40
Respecting planetary boundaries 6.9 /30
Adhering to societal conventions 1.5 /30
- Tokio Marine Holdings
Total score 25.9 /100
Governance and strategy 11.6 /40
Governance and strategy 11.6 /40
Respecting planetary boundaries 6.3 /30
Adhering to societal conventions 8.0 /30
65 Cathay Financial Holding
Total score 34.3 /100
Governance and strategy 11.5 /40
Governance and strategy 11.5 /40
Respecting planetary boundaries 10.3 /30
Adhering to societal conventions 12.5 /30
66 Industrial and Commercial Bank of China (ICBC)
Total score 19.3 /100
Governance and strategy 11.4 /40
Governance and strategy 11.4 /40
Respecting planetary boundaries 6.1 /30
Adhering to societal conventions 1.8 /30
- Metlife
Total score 17.6 /100
Governance and strategy 11.4 /40
Governance and strategy 11.4 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 4.5 /30
- National Bank of Canada
Total score 22.9 /100
Governance and strategy 11.4 /40
Governance and strategy 11.4 /40
Respecting planetary boundaries 5.0 /30
Adhering to societal conventions 6.5 /30
69 Bank of America
Total score 19.7 /100
Governance and strategy 11.3 /40
Governance and strategy 11.3 /40
Respecting planetary boundaries 2.6 /30
Adhering to societal conventions 5.8 /30
- IFM Investors
Total score 20.6 /100
Governance and strategy 11.3 /40
Governance and strategy 11.3 /40
Respecting planetary boundaries 5.3 /30
Adhering to societal conventions 4.0 /30
71 Phoenix Group
Total score 23.0 /100
Governance and strategy 11.2 /40
Governance and strategy 11.2 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 4.0 /30
72 Standard Chartered
Total score 31.4 /100
Governance and strategy 11.1 /40
Governance and strategy 11.1 /40
Respecting planetary boundaries 10.0 /30
Adhering to societal conventions 10.3 /30
73 Bank Rakyat Indonesia (BRI)
Total score 21.6 /100
Governance and strategy 11.0 /40
Governance and strategy 11.0 /40
Respecting planetary boundaries 3.6 /30
Adhering to societal conventions 7.0 /30
- KB Financial Group
Total score 28.8 /100
Governance and strategy 11.0 /40
Governance and strategy 11.0 /40
Respecting planetary boundaries 5.8 /30
Adhering to societal conventions 12.0 /30
- Munich Re
Total score 21.6 /100
Governance and strategy 11.0 /40
Governance and strategy 11.0 /40
Respecting planetary boundaries 4.2 /30
Adhering to societal conventions 6.5 /30
- PNC Financial Services Group
Total score 16.5 /100
Governance and strategy 11.0 /40
Governance and strategy 11.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 5.5 /30
- Truist
Total score 15.7 /100
Governance and strategy 11.0 /40
Governance and strategy 11.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 4.8 /30
- UniCredit
Total score 20.7 /100
Governance and strategy 11.0 /40
Governance and strategy 11.0 /40
Respecting planetary boundaries 2.5 /30
Adhering to societal conventions 7.3 /30
79 AXA
Total score 36.4 /100
Governance and strategy 10.9 /40
Governance and strategy 10.9 /40
Respecting planetary boundaries 14.6 /30
Adhering to societal conventions 11.0 /30
80 Swedbank
Total score 28.1 /100
Governance and strategy 10.5 /40
Governance and strategy 10.5 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 9.0 /30
81 Oversea-Chinese Banking Corporation (OCBC)
Total score 16.4 /100
Governance and strategy 10.4 /40
Governance and strategy 10.4 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 6.0 /30
82 Willis Towers Watson
Total score 21.9 /100
Governance and strategy 10.3 /40
Governance and strategy 10.3 /40
Respecting planetary boundaries 6.1 /30
Adhering to societal conventions 5.5 /30
83 Banco Bradesco
Total score 27.0 /100
Governance and strategy 10.2 /40
Governance and strategy 10.2 /40
Respecting planetary boundaries 5.8 /30
Adhering to societal conventions 11.0 /30
84 Kommunal Landspensjonskasse Gjensidig Forsikringsselskap (KLP)
Total score 23.7 /100
Governance and strategy 9.7 /40
Governance and strategy 9.7 /40
Respecting planetary boundaries 10.3 /30
Adhering to societal conventions 3.8 /30
- Svenska Handelsbanken
Total score 17.9 /100
Governance and strategy 9.7 /40
Governance and strategy 9.7 /40
Respecting planetary boundaries 4.2 /30
Adhering to societal conventions 4.0 /30
86 HSBC
Total score 25.0 /100
Governance and strategy 9.6 /40
Governance and strategy 9.6 /40
Respecting planetary boundaries 8.3 /30
Adhering to societal conventions 7.0 /30
87 California Public Employees Retirement System (CalPERS)
Total score 21.1 /100
Governance and strategy 9.5 /40
Governance and strategy 9.5 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 3.0 /30
- Maybank
Total score 14.0 /100
Governance and strategy 9.5 /40
Governance and strategy 9.5 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 4.5 /30
- United Overseas Bank (UOB)
Total score 16.5 /100
Governance and strategy 9.5 /40
Governance and strategy 9.5 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 7.0 /30
90 JP Morgan Chase & Co
Total score 26.7 /100
Governance and strategy 9.4 /40
Governance and strategy 9.4 /40
Respecting planetary boundaries 8.1 /30
Adhering to societal conventions 9.3 /30
- Kotak Mahindra Bank
Total score 13.5 /100
Governance and strategy 9.4 /40
Governance and strategy 9.4 /40
Respecting planetary boundaries 0.8 /30
Adhering to societal conventions 3.3 /30
- Skandinaviska Enskilda Banken (SEB)
Total score 27.2 /100
Governance and strategy 9.4 /40
Governance and strategy 9.4 /40
Respecting planetary boundaries 10.6 /30
Adhering to societal conventions