Which topics should you investigate first?

• Environment
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Management of environmental and social impacts and financial exposure arising when investment banking and brokerage services facilitate capital flows to high-emitting, nature-sensitive or controversial activities, including client transition quality, sector policies, mandate escalation and revenue governance.

How it shows up in this industry

Investment banking and brokerage firms originate mergers and acquisitions mandates, equity and debt issuance, leveraged finance, restructuring advice, securitisations and trading access for issuers in fossil fuel extraction, aviation, mining, heavy industry, infrastructure and deforestation-linked commodities. These services can lower the cost of capital for physical assets with significant greenhouse gas, land-use, biodiversity, pollution and community consequences.

Why it may be material

For many firms in this subindustry, the most material environmental and social pathway is capital allocation through client mandates rather than office energy use. Climate-related client selection, sector policies and mandate approval can influence fee pools, investor distribution, litigation exposure, reputation, league-table position and access to premium syndicate roles.

Standards to check

• ESRS ESRS E1 Climate changesearch disclosure cards
• ESRS ESRS E4 Biodiversity and ecosystemssearch disclosure cards
• ESRS ESRS S3 Affected communitiessearch disclosure cards
• ESRS ESRS G1 Business conduct where mandate governance is materialsearch disclosure cards
• GRI GRI 201 Economic Performancesearch disclosure cards
• GRI GRI 305 Emissionssearch disclosure cards
• GRI GRI 413 Local Communities, applied through capital markets impact pathwayssearch disclosure cards
• SASB Incorporation of Environmental, Social, and Governance Factors in Investment Banking & Brokerage Activities

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• Environment
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Management of climate-related loss trends in underwriting, pricing, reserving, catastrophe aggregation, reinsurance purchasing and solvency modelling.

How it shows up in this industry

Insurers price and reserve for property, motor, agricultural, liability and specialty policies using catastrophe models, geospatial exposure data, actuarial assumptions and reinsurance treaties. More frequent flood, wildfire, heat, storm and subsidence losses can make historical claims data less reliable and affect premium adequacy, technical provisions and solvency capital requirements.

Why it may be material

Climate-sensitive catastrophe, mortality and morbidity trends directly affect loss ratios, technical provisions, reinsurance costs, solvency capital and investor confidence in underwriting model adequacy.

Standards to check

• ESRS Climate change adaptation, climate-related financial effects and transition planningsearch disclosure cards
• GRI Climate-related economic performance and indirect economic impactssearch disclosure cards
• SASB Insurance industry environmental risk exposure to insured events and probable maximum loss

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• Environment
• Industry baseline
• Strong industry signal
• Double materiality

Workcard curated by LRA

What this topic covers

Management of financed greenhouse gas emissions, credit portfolio climate alignment and credible transition planning in commercial banking activities.

How it shows up in this industry

Commercial banks allocate deposits, wholesale funding and shareholder capital into residential mortgages, commercial real estate, project-related lending, trade finance, revolving credit facilities and corporate loans. Credit origination, underwriting, stress testing and balance sheet management determine whether capital continues to support high-emitting borrowers or shifts towards credible lower-carbon activities.

Why it may be material

Financed emissions are usually the dominant climate impact pathway for a commercial bank. Transition expectations can affect credit pricing, impairment assumptions, sector limits, loan demand, capital allocation, access to wholesale funding and confidence in net-zero or sustainable finance claims.

Disclosure connections LRA mapping · draft

• IFRS S2-29-a-vi-2 Direct Financed emissions The dedicated financed-emissions disclosure for financial institutions — this is the exact home of the topic under ISSB.
• GRI 305-3 Direct Other indirect (Scope 3) GHG emissions Financed emissions are Scope 3, category 15 (investments) — the GRI disclosure that actually covers portfolio emissions, not own-operations 305-1/305-2.
• ESRS E1-1 Direct Transition plan for climate change mitigation Transition plan — the credibility test behind any portfolio-alignment claim.
• ESRS E1-11 Partial Anticipated financial effects from material physical and transition risks and potential climate-related opportunities Anticipated financial effects from transition risks — quantifies the financial lens of this topic, but not the financed-emissions inventory itself.
• GRI 201-2 Partial Financial implications and other risks and opportunities due to climate change Financial implications of climate-related risks — where transition effects on the loan book are reported under GRI.

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• Environment
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Management of climate, nature and social exposure in insurer investment portfolios, including stewardship, asset allocation, scenario analysis and sustainability claims for investment-linked products.

How it shows up in this industry

Insurance groups invest premium inflows and capital in sovereign and corporate bonds, equities, property, infrastructure and alternative assets to back technical provisions, annuity promises and shareholder funds. Asset-liability matching, external investment managers, custodians and sustainable finance rules shape how insurer capital affects issuers and real assets.

Why it may be material

Sustainability-related credit, market and stranded-asset exposures can affect investment income, asset values, solvency coverage, product attractiveness and access to capital, while portfolio holdings create financed emissions, nature impacts and social exposure.

Standards to check

• ESRS Climate change, biodiversity and business conduct in relation to investment activitiessearch disclosure cards
• GRI Economic performance, emissions, biodiversity and responsible investment-related impactssearch disclosure cards
• SASB Incorporation of environmental, social and governance factors in investment management and advisory activities

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• Environment
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Management of climate-related transition exposures and financed emissions in portfolios, including scenario analysis, integration into security selection and asset allocation, and implications for client mandates and product demand.

How it shows up in this industry

Asset managers allocate client capital through pooled funds, segregated mandates, exchange-traded funds, fixed income portfolios and alternative strategies. Investment research, issuer due diligence, ESG data, emissions estimates and climate scenario analysis shape exposure to high-emitting sectors and transition-sensitive issuers, with consequences for benchmark-relative performance, consultant ratings, mandate renewals and client flows.

Why it may be material

Financed emissions and transition exposure are among the largest sustainability channels for asset management. Poor climate integration can affect portfolio value, fee revenue, product demand, client retention, regulatory disclosure costs and liability exposure where client reports or prospectuses overstate climate controls.

Standards to check

• ESRS ESRS E1 Climate change; value-chain and financial effects from climate-related transition matterssearch disclosure cards
• GRI GRI emissions and climate-related material topic disclosures, applied to financed impacts where in scopesearch disclosure cards
• SASB incorporation of environmental, social and governance factors in investment management and advisory

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• Environment
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of underwriting exposure to high-impact sectors, including appetite setting, exclusions, transition criteria, delegated authority controls, loss-prevention requirements and the credibility of sustainability-related underwriting commitments.

How it shows up in this industry

Commercial and specialty insurers provide property, casualty, marine, aviation, energy, directors' and officers' and liability cover that can enable construction, transport, mining, agriculture, fossil fuel and industrial activity. Underwriting licences, delegated authority agreements, reinsurance support and broker placement decisions can be affected by contested underwriting appetite and public transition commitments.

Why it may be material

Underwriting capacity can enable activities with significant climate, nature and community impacts, while restrictions or misalignment in appetite can affect premium revenue, broker access, reinsurance support, litigation exposure, brand value and investor confidence.

Standards to check

• ESRS Climate change transition planning, business relationships and affected communities where underwriting enables high-impact activitiessearch disclosure cards
• GRI Indirect economic impacts, emissions and biodiversity-related value-chain effects through business relationshipssearch disclosure cards
• SASB Incorporation of environmental, social and governance factors in insurance underwriting and policies designed to incentivise responsible behaviour

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• Environment
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Integration of circularity and lower-carbon choices into insurance claims, including repair over replacement, resilient reinstatement, salvage recovery, reusable parts, contractor standards and transparent customer options.

How it shows up in this industry

Motor, household, commercial property and marine insurers steer damaged vehicles, building materials, contents, cargo and equipment through preferred repairers, loss adjusters, auction houses, breakers, storage yards and specialist disposal contractors. Claims settlement choices determine whether assets are repaired, replaced, salvaged or disposed of after insured events.

Why it may be material

Large motor and property books can shape waste, embodied emissions and resource use in repair and reinstatement supply chains, while repair choices affect claims severity, salvage recoveries and the credibility of insurer emissions or circularity commitments.

Standards to check

• ESRS Resource use and circular economy, climate change and value-chain pollution where relevantsearch disclosure cards
• GRI Waste, materials, emissions and supplier-related environmental impactssearch disclosure cards
• SASB Policies designed to incentivise responsible behaviour, with limited direct claims circularity coverage

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• Environment
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Management of greenhouse gas emissions, energy use, resource consumption and electronic waste from insurer offices, branches, call centres, data processing, cloud services and business travel.

How it shows up in this industry

Insurance operations use head offices, regional branches, call centres, policy administration hubs, data centres, cloud services, telecommunications and business travel by claims assessors, engineers and catastrophe response teams. Although smaller than portfolio and underwriting impacts, these activities create direct emissions, energy demand and electronic waste.

Why it may be material

Operational footprint is usually not the largest sustainability issue for insurers, but it is visible in corporate reporting and is relevant where data processing, cloud services, travel and leased office estates are material cost and emissions sources.

Standards to check

• ESRS Climate change, energy consumption and resource use in own operationssearch disclosure cards
• GRI Energy, emissions, waste and supplier environmental topicssearch disclosure cards
• SASB Operational environmental footprint is not a central insurance-specific topic

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• Environment
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Management of greenhouse gas emissions, energy use, travel footprint and electronic or paper waste from offices, trading floors, data centres, cloud services and technology hardware used to support asset management and custody activities.

How it shows up in this industry

Physical logistics are limited, but head offices, client suites, trading floors, cloud infrastructure, data centres, disaster recovery sites, terminals, secure printing, archived records and business travel consume electricity and generate greenhouse gas emissions, electronic waste and confidential paper waste. Clients increasingly request operational footprint data in due diligence questionnaires, even though portfolio emissions are usually much larger.

Why it may be material

Operational emissions are smaller than financed impacts but still arise from energy-intensive data and transaction infrastructure, office estates and travel for due diligence, company engagement and client servicing. Financial materiality arises through energy procurement, cloud costs, technology refresh, travel budgets and client due diligence scores.

Standards to check

• ESRS ESRS E1 Climate changesearch disclosure cards
• ESRS ESRS E5 Resource use and circular economy where hardware and records waste are materialsearch disclosure cards
• GRI GRI energy, emissions and waste disclosuressearch disclosure cards
• SASB SASB Asset Management & Custody Activities has limited direct operational environmental disclosure; operational footprint may be entity-specific

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• Environment
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Environmental impacts from energy use, refrigerants, business travel and electronic equipment associated with trading floors, offices, market data infrastructure, co-location, cloud services and disaster recovery arrangements.

How it shows up in this industry

Physical logistics are limited, but investment banking and brokerage operate trading floors, client suites, data rooms, co-located servers, low-latency networks, cloud infrastructure, disaster recovery sites and roadshow travel. Office fit-outs, servers, screens, terminals and network equipment create energy demand, refrigerant loss and data-bearing electronic waste requiring secure handling.

Why it may be material

Operational footprint is usually smaller than facilitated capital markets impact, but it is a tangible pathway through purchased electricity, travel, outsourced technology services and electronic equipment replacement. It also affects operating cost, procurement choices and credibility of the firm’s own climate commitments.

Standards to check

• ESRS ESRS E1 Climate changesearch disclosure cards
• ESRS ESRS E5 Resource use and circular economy where electronic waste is materialsearch disclosure cards
• GRI GRI 302 Energysearch disclosure cards
• GRI GRI 305 Emissionssearch disclosure cards
• GRI GRI 306 Wastesearch disclosure cards
• SASB operational environmental footprint is not usually a primary industry topic; use where company-specific materiality supports it

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• Environment
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Environmental impacts from energy used in offices, call centres, cloud and data centre services, and from paper, plastic, metal and electronic waste generated by consumer finance operations.

How it shows up in this industry

Consumer finance operations depend on cloud computing, data centre capacity, telecommunications, offices, call centres, physical card production, paper notices, statement mailings, card carriers and hardware used across servicing networks. Regulated notices, card reissuance after compromise and legacy paper communications create material streams for high-volume issuers.

Why it may be material

Environmental impacts are generally smaller than customer conduct topics but can be material for large card issuers and digital lenders with substantial cloud, data processing, postal and card issuance volumes. Energy efficiency, digital servicing and lower-impact materials can reduce operating costs and waste.

Standards to check

• ESRS Climate change and resource use and circular economysearch disclosure cards
• GRI Energy, emissions and wastesearch disclosure cards
• SASB Consumer Finance has limited explicit environmental operations coverage

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• Environment
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Environmental footprint of the bank's own premises, ATMs, offices, data processing infrastructure, vehicles, devices, payment cards and waste streams.

How it shows up in this industry

Commercial banks operate branches, business banking centres, cash offices, call centres, head offices, ATMs, cash recyclers, data warehouses, network equipment and outsourced technology infrastructure. These assets consume electricity, produce operational greenhouse gas emissions and generate electronic waste, retired payment cards, confidential paper waste and obsolete devices.

Why it may be material

Own operational impacts are smaller than financed emissions but still visible to customers, employees and investors. Energy efficiency, renewable electricity, device lifecycle management and secure waste handling affect operating costs, procurement decisions and credibility of wider climate commitments.

Disclosure connections LRA mapping · draft

• GRI 302-1 Direct Energy consumption within the organization Energy consumption within the organisation — offices, branches, ATMs and data infrastructure.
• GRI 305-1 Direct Direct (Scope 1) GHG emissions Scope 1 emissions from own premises and vehicle fleet.
• GRI 305-2 Direct Energy indirect (Scope 2) GHG emissions Scope 2 emissions from purchased electricity for branches and data centres.
• GRI 306-3 Partial Waste generated Waste generated — covers electronic waste and payment-card streams, though without bank-specific granularity.
• ESRS E1-7 Direct Energy consumption and mix Energy consumption and mix — the ESRS anchor for own-operations energy.

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• Environment
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Integration of physical climate hazards into credit origination, collateral valuation, provisioning, portfolio monitoring and stress testing.

How it shows up in this industry

Mortgage books, commercial real estate lending, agriculture-linked lending, infrastructure exposures and collateral valuation databases are sensitive to flood, heat, storm, water-stress and insurance availability changes. Underwriting policies, property indices and stress testing models need to capture how climate hazards affect borrower affordability, recovery values and credit losses.

Why it may be material

Physical climate hazards can change default probability, recovery rates, collateral haircuts, loan pricing and portfolio concentration limits. Supervisory expectations for climate scenario analysis increase the need for location data, model redevelopment and governance controls.

Disclosure connections LRA mapping · draft

• IFRS S2-29-c Direct Physical-risk vulnerability metric The physical-risk vulnerability metric — assets and activities exposed to physical climate hazards, which for a bank is the credit portfolio and collateral.
• ESRS E1-2 Direct Identification of climate-related risks and scenario analysis Identification of climate-related risks and scenario analysis — the process disclosure behind hazard integration in origination and stress testing.
• IFRS S2-22-b Supporting Scenario analysis method, inputs and assumptions Scenario analysis method, inputs and assumptions — evidences how portfolio stress testing was actually done.
• ESRS E1-3 Partial Resilience in relation to climate change Resilience in relation to climate change — the entity-level resilience statement this topic feeds.
• GRI 201-2 Partial Financial implications and other risks and opportunities due to climate change Financial implications of climate risks — the GRI route for reporting physical-risk exposure effects.

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• Environment
• Emerging issue
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Integration of nature-related impacts, dependencies and deforestation exposure into investment analysis, portfolio design, exclusions, issuer engagement and client reporting.

How it shows up in this industry

Portfolios can finance plantations, mining, utilities, property, infrastructure and sovereign issuers where biodiversity, land-use and water impacts are material. Asset managers use ESG data, controversy screens, holdings files and stewardship records to respond to client demand for nature-aware mandates beyond carbon metrics.

Why it may be material

Nature-related integration is becoming material as asset owners, charities and public reserve managers request biodiversity and deforestation analysis. Ecosystem degradation can affect investee valuations, mandate suitability and the credibility of responsible investment products.

Standards to check

• ESRS ESRS E4 Biodiversity and ecosystems, with value-chain interpretation for financial institutionssearch disclosure cards
• GRI GRI biodiversity and material topic disclosures where portfolio impacts are in scopesearch disclosure cards
• SASB incorporation of ESG factors in investment management and advisory

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• Environment
• Emerging issue
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Environmental, community and human-rights due diligence for lending, guarantees and trade finance connected to projects, companies and commodity flows with land, water, biodiversity or labour-rights footprints.

How it shows up in this industry

Commercial loans, project-related lending, trade finance, guarantees and supply chain finance can support agriculture, property, infrastructure, extractive-sector clients and cross-border commerce. Banks use environmental and social due diligence, exclusion policies, client escalation and covenants to manage impacts associated with deforestation-linked commodities, land conversion, water use, forced labour supply chains and contested projects.

Why it may be material

Nature and community impacts are concentrated in specific portfolios but can be severe where due diligence fails. Scrutiny is increasing around deforestation-linked commodities, projects affecting Indigenous Peoples, water stress, controversial weapons and trade flows associated with labour exploitation or conflict.

Disclosure connections LRA mapping · draft

• ESRS E4-1 Partial Biodiversity and ecosystems transition plan Biodiversity transition plan — the nature-alignment frame, applied with a value-chain (portfolio) reading for lenders.
• GRI 101-4 Partial Identification of biodiversity impacts Identification of biodiversity impacts — the assessment step this due-diligence topic operationalises, portfolio lens.
• ESRS GOV-4 Supporting Statement on Due Diligence Statement on due diligence — where the overall due-diligence architecture (including for financed activities) is summarised.
• ESRS S3-1 Partial Policies (Affected Communities) Policies for affected communities — covers the community dimension of project and commodity finance.
• GRI 411-1 Contextual Incidents of violations involving rights of indigenous peoples Indigenous-rights incidents — relevant where financed projects touch indigenous lands; incident-level, not process-level.

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• Environment
• Emerging issue
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Identification and governance of nature-related impacts, dependencies and financial exposures arising through insurance underwriting, reinsurance and investment portfolios.

How it shows up in this industry

Insurers and reinsurers underwrite agriculture, marine, construction, mining, infrastructure, property and liability risks while holding bonds, equities, property and alternative assets to back technical provisions. Nature-related disclosure expectations are bringing exposure to deforestation, ecosystem degradation, water stress and biodiversity-sensitive projects into insurance decision-making.

Why it may be material

Nature loss is moving from an investment-only theme to an underwriting and liability issue, particularly where insured clients depend on ecosystem services or face litigation, permitting and asset-value pressure from biodiversity impacts.

Standards to check

• ESRS Biodiversity and ecosystems, pollution and water-related portfolio exposuressearch disclosure cards
• GRI Biodiversity, water and local community topics adapted to underwriting and investment relationshipssearch disclosure cards
• SASB ESG integration in investment management and policies designed to incentivise responsible behaviour

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• Environment
• Emerging issue
• Entity-specific validation required
• Double materiality

Workcard generated from the catalogue

What this topic covers

Greenhouse gas impacts enabled by consumer credit used to purchase vehicles and other emission-intensive goods, together with climate-transition exposure from the shift between internal combustion engine, hybrid and lower-emission vehicles in auto finance portfolios.

How it shows up in this industry

Consumer finance firms originate hire purchase, personal contract purchase, leases, dealer-arranged loans, credit cards and point-of-sale instalment products that can enable purchases of vehicles, appliances, travel and other emission-intensive goods. In auto finance portfolios, low-emission zones, vehicle electrification, charging infrastructure availability and changing used-car demand can alter financed vehicle mix, collateral valuations and investor reporting for asset-backed securitisations.

Why it may be material

This topic is most material for firms with sizeable auto finance or merchant finance books linked to emission-intensive goods. Credit allocation can influence uptake of lower-emission vehicles, while transition-driven vehicle price shifts can affect collateral values, expected credit losses and investor appetite for asset-backed securities.

Standards to check

• ESRS Climate change, Scope 3 value-chain emissions, transition risks and transition planningsearch disclosure cards
• GRI Emissions where financed or enabled emissions are reported with clear methodologysearch disclosure cards
• SASB Consumer Finance does not clearly isolate financed emissions or auto collateral transition exposure

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Availability, affordability and usability of basic banking, cash, payment services and local credit for customers and communities with limited digital access or limited mainstream finance access.

How it shows up in this industry

Commercial banks provide current accounts, savings, cash handling, ATMs, branch services, telephone banking, mobile banking, SME overdrafts, payment facilities and local credit. Branch rationalisation, reduced cash access and digital-only service models can affect rural areas, high streets, financially excluded neighbourhoods, older customers, disabled customers and cash-dependent small businesses.

Why it may be material

Access to accounts, payment services, cash and affordable local credit affects whether households and small businesses can participate in the economy. Maintaining branches, ATMs and assisted channels creates material operating cost, while withdrawal from communities can trigger regulatory scrutiny, political pressure, attrition and reputational damage.

Disclosure connections LRA mapping · draft

• GRI 203-1 Partial Infrastructure investments and services supported Infrastructure investments and services supported — branch/cash networks and basic-service coverage fit here, though not designed for financial inclusion.
• GRI 203-2 Partial Significant indirect economic impacts Significant indirect economic impacts — the access-to-finance development impact of the bank.
• ESRS S4-3 Partial Actions & Resources Actions towards consumers and end-users — where inclusion programmes and remedies are disclosed under ESRS.
• ESRS S4-4 Supporting Targets Targets for consumer-related matters — if the bank sets measurable inclusion targets.

No dedicated financial-inclusion disclosure exists in the current GRI/ESRS sets (the old GRI FS sector supplement is withdrawn) — expect entity-specific metrics.

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Operational and governance controls that protect client assets and ensure accurate custody records, asset servicing, fund valuation, net asset value calculation, performance attribution and client reporting.

How it shows up in this industry

Custody platforms, fund accounting systems, nominee and omnibus accounts, collateral accounts and sub-custodian networks hold books of record, asset positions, cash balances, corporate action elections and net asset value calculations. Failures in safekeeping, valuation or reconciliation can directly harm pension beneficiaries, retail fund investors, sovereign clients and institutional asset owners.

Why it may be material

Client asset errors can trigger compensation to funds, regulatory reporting, fines, loss of custody mandates, increased audit and insurance costs, and damage to trustee and depositary relationships. Market closures and sub-custodian insolvency can amplify liability and asset mobility challenges.

Standards to check

• ESRS ESRS S4 Consumers and end-users; governance of product and service impactssearch disclosure cards
• GRI GRI customer-related and product responsibility analogues where applicable to financial servicessearch disclosure cards
• SASB transparent information and fair advice for customers; operational integrity-related areas where applicable

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Design, disclosure and oversight of investment products and mandates so that liquidity, leverage, derivatives, benchmark, fee, currency and redemption characteristics are suitable and understandable for intended clients.

How it shows up in this industry

The industry designs pooled funds, model portfolios, money market funds, exchange-traded funds and segregated mandates for pension schemes, insurers, charities, wealth managers and retail investors. Product features such as leverage, derivatives, benchmark exposure, fees, liquidity tools and currency exposure can materially affect savings and beneficiary outcomes.

Why it may be material

Mis-selling, unsuitable advice, inaccurate prospectus disclosures, excessive fees, fund collapses, liquidity gates and money market stress can create litigation, arbitration, remediation payments, lost platform access and client withdrawals. Clear suitability controls support fair outcomes and distribution resilience.

Standards to check

• ESRS ESRS S4 Consumers and end-users: information-related impacts and product or service safety analogues for financial servicessearch disclosure cards
• GRI GRI customer health and safety, marketing and product information analogues where relevantsearch disclosure cards
• SASB transparent information and fair advice for customers

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Client outcome impacts from the design, recommendation, pricing, execution, routing and financing of complex or leveraged financial products, including suitability, appropriateness, best execution, inducements, margin controls and clear disclosure.

How it shows up in this industry

Brokerage and investment banking desks distribute structured notes, derivatives, exchange-traded products, private placements, initial public offerings and margin financing through execution platforms, smart order routers, sales traders and advisory channels. Retail clients, high-net-worth clients, family offices and pension beneficiaries can bear losses where product complexity, leverage, routing economics or behavioural prompts exceed their understanding or loss capacity.

Why it may be material

Client protection is central to broker-dealer permissions, conduct supervision, order flow and product distribution revenues. Payment for order flow scrutiny, best execution expectations, complex product distribution and margin lending create direct pathways from commercial incentives to client harm, remediation and litigation.

Standards to check

• ESRS ESRS S4 Consumers and end-userssearch disclosure cards
• ESRS ESRS G1 Business conductsearch disclosure cards
• GRI GRI 417 Marketing and Labellingsearch disclosure cards
• GRI GRI 2 governance disclosures for complaints and remediationsearch disclosure cards
• SASB Business Ethics; Professional Integrity; Employee Incentives and Risk Taking

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Fair treatment of customers in financial difficulty, including hardship support, payment restructures, vulnerability identification, collections contact, vehicle repossession, debt litigation, recoveries, charged-off debt transfers and post-default credit reporting.

How it shows up in this industry

Arrears management in consumer finance involves call centres, hardship assessment, forbearance, collections teams, repossession agents, debt litigation, debt purchasers, credit bureau reporting and collateral auction channels. Higher interest rates and cost-of-living pressure increase delinquency, hardship requests and forbearance volumes across credit cards, loans, auto finance and student loan books.

Why it may be material

Poor collections and hardship conduct can intensify household distress, damage credit records, reduce access to transport and create community-level debt burdens. It can also drive enforcement, ombudsman awards, litigation, debt sale repurchase claims, servicing quality concerns and reputational loss.

Standards to check

• ESRS Consumers and end-users; vulnerable consumers, access to remedy and responsible treatmentsearch disclosure cards
• GRI Customer-related impacts, grievance mechanisms and fair treatmentsearch disclosure cards
• SASB selling practices, customer welfare and collections practices

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Customer impacts from sensitive banking data collection, open finance data sharing, profiling, retention and third-party use across account, credit, fraud and customer servicing activities.

How it shows up in this industry

Commercial banks hold highly sensitive credit bureau data, bank statement data, income verification records, customer identification documents, transaction histories, customer relationship management records and data warehouse outputs. Open banking, broker channels, account aggregation and data-rich digital services increase the importance of transparent permissions, lawful profiling and retention controls.

Why it may be material

Banking data can reveal income, location patterns, household vulnerability and sensitive spending. Misuse, excessive sharing or opaque profiling can create privacy harm, customer distress, regulatory penalties, customer redress and loss of trust in digital banking and open finance services.

Disclosure connections LRA mapping · draft

• GRI 418-1 Direct Substantiated complaints concerning breaches of customer privacy and losses of customer data Substantiated complaints concerning customer privacy and data losses — the core outcome disclosure for this topic.
• ESRS S4-2 Supporting Engagement & Grievance Mechanisms Engagement and grievance mechanisms for consumers — how data-rights concerns are raised and handled.
• ESRS S4-3 Partial Actions & Resources Actions on consumer matters — data-protection measures for customers under ESRS S4.

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Fairness, clarity and responsiveness across product design, policy wording, claims settlement, complaints and remediation.

How it shows up in this industry

Insurers design policy wording for life, health, property, casualty, motor, cyber and specialty lines and manage claims notification, triage, coverage verification, loss adjustment, litigation and settlement. At the point of loss, policyholders, beneficiaries, third-party claimants, injured persons and small businesses depend on prompt and fair performance.

Why it may be material

Complex wording can create unexpected coverage gaps, while claims denial, delay or aggressive loss adjustment can undermine the protective purpose of insurance at moments of vulnerability and trigger redress, litigation and regulatory intervention.

Standards to check

• ESRS Consumers and end-users, especially information-related impacts, personal safety and access to remediessearch disclosure cards
• GRI Customer-related disclosures, product and service information, marketing and complaints-related topicssearch disclosure cards
• SASB Transparent information and fair advice for customers, including product suitability, complaints and litigation

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

The effects of underwriting, pricing, renewals and market participation on access to essential insurance protection for households, small enterprises and vulnerable customers.

How it shows up in this industry

Risk-based pricing, underwriting criteria, deductibles, exclusions and market withdrawal can determine whether households obtain mortgages, drive legally, access healthcare, protect businesses or recover from disaster. Flood plains, wildfire zones, coastal properties and subsidence-exposed areas are pressure points where underwriting retreat can affect household recovery and business continuity.

Why it may be material

Insurance is a social protection mechanism as well as a financial product. Affordability and availability pressures in high-risk locations can widen protection gaps and shift disaster costs to governments, communities and uninsured households.

Standards to check

• ESRS Consumers and end-users, including access to products and vulnerable consumers; climate adaptation where insurance supports resiliencesearch disclosure cards
• GRI Indirect economic impacts, non-discrimination and customer-related disclosures adapted to financial inclusion and protection gapssearch disclosure cards
• SASB Environmental risk exposure and policies designed to incentivise responsible behaviour; access and affordability mapping may require judgement

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• Social
• Industry baseline
• Strong industry signal
• Double materiality
• Cross-cutting

Workcard generated from the catalogue

What this topic covers

Prevention, detection and reimbursement governance for customer and merchant fraud across payment accounts, cards, merchant acquiring, instant payments and digital banking channels.

How it shows up in this industry

Commercial banks process debit and credit cards, direct debits, standing orders, international transfers, merchant acquiring and instant payments through card schemes, clearing houses, payment gateways, fraud engines and identity verification systems. Real-time payment growth increases scam velocity, while reimbursement expectations shift more loss and conduct responsibility back to banks.

Why it may be material

Fraud losses and reimbursement obligations can materially affect fee economics, operating costs and customer trust in digital banking. Stronger controls require investment in authentication, analytics and customer communication, while excessive friction can reduce transaction revenue and customer satisfaction.

Disclosure connections LRA mapping · draft

• GRI 2-25 Supporting Processes to remediate negative impacts Processes to remediate negative impacts — the reimbursement and remediation governance dimension of fraud.
• ESRS S4-3 Partial Actions & Resources Actions towards consumers — fraud-prevention and victim-support measures sit here under ESRS.
• GRI 417-1 Contextual Requirements for product and service information and labeling Service information requirements — scam-warning and product-information duties only touch the edges of this topic.
• GRI 418-1 Contextual Substantiated complaints concerning breaches of customer privacy and losses of customer data Customer-privacy complaints — overlaps where fraud stems from data compromise; does not cover reimbursement.

No sustainability standard covers fraud reimbursement governance directly — expect entity-specific metrics (fraud losses, reimbursement rates).

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance and performance of responsible lending controls for consumer credit products, including affordability checks, repayment design, credit limits, refinancing, persistent debt management, and suitability of buy-now-pay-later or embedded finance offers.

How it shows up in this industry

Consumer finance providers originate credit cards, personal loans, auto finance, private student loans and point-of-sale instalment credit through digital onboarding, dealers, merchants and comparison sites. Affordability engines, income verification, credit bureau data, limit management and merchant referral controls determine whether receivables grow without creating foreseeable borrower harm.

Why it may be material

Responsible lending is central to consumer finance because weak affordability assessment can create over-indebtedness, arrears, credit record damage, remediation costs, higher expected credit losses and restrictions on lending permissions. Strong controls improve receivables quality, customer retention and investor confidence in securitised loan pools.

Standards to check

• ESRS Consumers and end-users; product suitability, access to quality information and responsible treatmentsearch disclosure cards
• GRI Customer-related impacts and product responsibility disclosures in financial servicessearch disclosure cards
• SASB selling practices, customer welfare and responsible lending

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Fair design, sale, underwriting and servicing of bank credit and deposit products, with emphasis on affordability, transparent terms, vulnerable customers, arrears treatment and collections practices.

How it shows up in this industry

Commercial banks originate and service mortgages, overdrafts, credit cards, personal loans, vehicle finance, SME working capital and floating-rate business loans through branches, brokers and digital channels. Variable-rate repricing, affordability checks, covenants, fee structures, arrears handling, forbearance and collections directly shape customer financial stress and conduct exposure.

Why it may be material

Credit underwriting and servicing directly affect household financial wellbeing, housing security and small business survival. Weak conduct controls can produce customer redress, fines, litigation, complaint handling costs, reputational damage and higher defaults, especially during interest-rate and cost-of-living stress.

Disclosure connections LRA mapping · draft

• GRI 417-1 Partial Requirements for product and service information and labeling Product and service information requirements — transparent credit terms and pricing disclosure.
• GRI 417-2 Partial Incidents of non-compliance concerning product and service information and labeling Non-compliance incidents on product information — the outcome metric for mis-selling and disclosure failures.
• GRI 417-3 Partial Incidents of non-compliance concerning marketing communications Marketing-communication non-compliance — covers aggressive or misleading credit marketing.
• ESRS S4-3 Partial Actions & Resources Actions towards consumers — affordability checks and vulnerable-customer programmes under ESRS.
• GRI 2-25 Supporting Processes to remediate negative impacts Remediation processes — how harmed borrowers are made whole.

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• Social
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Management of working hours, mental health, retention, training, progression, diversity and variable pay incentives for bankers, traders, analysts, quants, compliance staff, technologists and operations teams whose decisions affect revenue generation and conduct outcomes.

How it shows up in this industry

Investment banking and brokerage rely on scarce human capital in corporate finance, research, quantitative trading, compliance, legal, technology and operations across trading floors, deal teams and roadshows. Long deal cycles, trading pressure, surveillance expectations, bonus competition, retention guarantees and clawback structures affect employee health, retention, equality of progression and conduct incentives.

Why it may be material

Compensation ratios, turnover and conduct culture materially affect operating cost, revenue continuity and franchise quality. Burnout, poor progression, weak incentives or talent loss to fintech, private credit and asset management can reduce origination capacity, execution quality and control effectiveness.

Standards to check

• ESRS ESRS S1 Own workforcesearch disclosure cards
• ESRS ESRS G1 Business conduct where remuneration incentives affect conduct culturesearch disclosure cards
• GRI GRI 401 Employmentsearch disclosure cards
• GRI GRI 403 Occupational Health and Safetysearch disclosure cards
• GRI GRI 404 Training and Educationsearch disclosure cards
• GRI GRI 405 Diversity and Equal Opportunitysearch disclosure cards
• SASB Employee Diversity and Inclusion; Employee Incentives and Risk Taking

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• Social
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Workforce impacts from sales targets, restructuring, digital monitoring, customer abuse, cash handling, call centre workloads and contractor working conditions in commercial banking operations.

How it shows up in this industry

Commercial banks employ relationship managers, underwriters, treasury staff, financial crime analysts, software engineers and call centre teams, with contractors in facilities, cash handling, IT and debt collection. Digital migration, branch closures, fraud escalation, sales targets, customer financial stress, monitoring technologies and security threats affect working conditions across banking operations.

Why it may be material

Workforce wellbeing affects service quality, operational error rates, conduct culture, attrition and recruitment costs. Pressure on frontline and contact centre teams can rise during arrears, scam incidents, outages, restructuring and branch transformation.

Disclosure connections LRA mapping · draft

• GRI 403-6 Direct Promotion of worker health Promotion of worker health — includes mental-health support for sales-pressure, customer-abuse and call-centre workloads.
• ESRS S1-14 Direct Work-life Balance Work-life balance — the ESRS anchor for workload and monitoring pressures.
• ESRS S1-13 Partial Health & Safety Health and safety — covers the psychosocial-risk dimension, though framed around incidents.
• GRI 402-1 Partial Minimum notice periods regarding operational changes Minimum notice periods for operational changes — the restructuring dimension.
• GRI 404-2 Supporting Programs for upgrading employee skills and transition assistance programs Skills and transition programmes — reskilling as digitalisation reshapes roles.

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• Social
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Workload, wellbeing, safety, training and incentive management for insurance employees and contractors involved in underwriting, sales, policy servicing, claims handling and catastrophe response.

How it shows up in this industry

Insurance operations rely on underwriters, actuaries, call-centre staff, claims handlers, loss adjusters, engineers, medical case managers, agents and outsourced service providers. Catastrophe events can create sudden workload peaks, emotionally difficult customer interactions and field visits to damaged homes, factories, ports and disaster sites.

Why it may be material

Workforce capacity and wellbeing affect claims speed, sales quality, conduct failures, staff turnover, training cost, complaint volumes and broker or customer trust.

Standards to check

• ESRS Own workforce, including working conditions, training and health and safetysearch disclosure cards
• GRI Employment, occupational health and safety, training and educationsearch disclosure cards
• SASB Human capital management and customer welfare implications of staffing and incentives

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• Social
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Working conditions, psychosocial safety, workload management, training and support for employees and contractors handling high-volume customer service, arrears, fraud, dispute and complaint interactions.

How it shows up in this industry

Consumer finance operations include call centres, back-office servicing hubs, fraud operations, complaint handling units and collections teams that handle arrears, hardship, account takeover, payment disputes and distressed customer interactions. Outsourced servicers and collections partners can face similar workload and psychosocial pressures.

Why it may be material

The sector relies on skilled servicing, complaints, fraud and collections labour, particularly during delinquency cycles and fraud spikes. High volumes of distressing interactions can create burnout, attrition, sickness absence and conduct failures if teams are undertrained or overloaded.

Standards to check

• ESRS Own workforce: working conditions, health and safety, training and developmentsearch disclosure cards
• GRI Occupational health and safety and training and educationsearch disclosure cards
• SASB Consumer Finance has limited explicit workforce wellbeing coverage

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• Social
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Management of workload, wellbeing, training, staffing resilience and retention for investment, trading, fund accounting, technology, compliance and client service employees during market stress and regulatory change.

How it shows up in this industry

The subindustry depends on skilled portfolio managers, research analysts, traders, risk specialists, fund accountants, lawyers, compliance officers, technology specialists and client relationship managers. Market volatility, regulatory deadlines, fund suspensions, cyber incidents, corporate action deadlines and settlement cycle compression create long hours and handover pressure across global time zones.

Why it may be material

Although physical safety exposure is lower than in industrial sectors, high-stakes, deadline-driven work can create burnout, fatigue and attrition. Workforce strain can increase operational errors, compliance breaches, recruitment costs and loss of investment or control expertise.

Standards to check

• ESRS ESRS S1 Own workforce: working conditions, health and safety, training and developmentsearch disclosure cards
• GRI GRI employment, occupational health and safety, training and educationsearch disclosure cards
• SASB employee diversity and inclusion and human capital elements where applicable

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• Social
• Emerging issue
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of artificial intelligence and automated models used in credit approval, affordability assessment, fraud detection, customer segmentation and service triage, with attention to bias, explainability, contestability and fair customer outcomes.

How it shows up in this industry

Commercial banks use credit risk models, internal ratings-based models, affordability tools, fraud detection engines, collateral valuation data, customer relationship systems and call centre automation. Poorly governed models can distort underwriting, embed biased proxies, misprice credit and create unexplained account, payment or fraud outcomes.

Why it may be material

Automated credit and fraud models increasingly shape access to mortgages, overdrafts, credit cards and business finance. Weak explainability, biased data, model drift or poor contestability can lead to customer harm, regulatory enforcement, discrimination litigation, model remediation and inaccurate credit losses or risk-weighted assets.

Disclosure connections LRA mapping · draft

• GRI 406-1 Partial Incidents of discrimination and corrective actions taken Incidents of discrimination — the outcome disclosure if credit or pricing models produce discriminatory results.
• ESRS S4-2 Supporting Engagement & Grievance Mechanisms Consumer grievance mechanisms — the challenge-and-appeal route for automated decisions.
• ESRS GOV-1 Contextual Role of the Administrative, Management and Supervisory Bodies Board oversight roles — where accountability for model governance would surface.

No dedicated AI-governance disclosure exists in GRI/ESRS/ISSB today; EU AI Act obligations sit outside sustainability standards. Expect entity-specific reporting.

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• Social
• Emerging issue
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Integration of human rights, labour standards, affected-community impacts and just transition safeguards into investment decisions, voting, engagement escalation and client mandate design.

How it shows up in this industry

Portfolio managers, analysts and stewardship teams can influence investee behaviour through capital allocation, bondholder negotiations, proxy voting and escalation. Votes on restructuring, mine closures, executive incentives and supply chain standards can affect workers and communities at investee companies, making social safeguards increasingly relevant for long-horizon clients.

Why it may be material

Pension schemes, charities, universities and religious institutions increasingly expect investment policies to address labour rights, community impacts and fairness in transition plans. Weak integration can undermine client trust and expose portfolios to social controversy and value loss at investee assets.

Standards to check

• ESRS ESRS S2 Workers in the value chainsearch disclosure cards
• ESRS ESRS S3 Affected communitiessearch disclosure cards
• ESRS ESRS E1 transition-plan disclosures, applied through investmentssearch disclosure cards
• GRI GRI material topic disclosures with links to labour and human rights topic standards where portfolio impacts are in scopesearch disclosure cards
• SASB incorporation of ESG factors in investment management and advisory

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• Social
• Emerging issue
• Entity-specific validation required
• Double materiality

Workcard generated from the catalogue

What this topic covers

Fair design, explanation and monitoring of parametric insurance triggers, including basis mismatch, data quality, customer understanding, payout speed and suitability for climate resilience, agriculture, travel and public-sector protection.

How it shows up in this industry

Parametric covers use indices such as wind speed, rainfall, flood depth, temperature, earthquake intensity or flight disruption data rather than traditional loss adjustment. These products may pay nothing when index triggers are missed despite real losses, and may be used for climate-exposed households, agriculture, travel, public bodies and small businesses.

Why it may be material

Parametric insurance is growing as a response to catastrophe frequency, rapid liquidity needs and remote sensing technology, but basis mismatch can undermine customer protection if product design and explanation do not align with actual loss experience.

Standards to check

• ESRS Consumers and end-users for product information, access and outcomessearch disclosure cards
• GRI No clear topic for parametric insurance trigger fairness; possible indirect link to customer information practicessearch disclosure cards
• SASB Transparent information and fair treatment of customers; product design considerations

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of automated and artificial-intelligence-enabled insurance decisions, including explainability, bias testing, human oversight, proxy-variable controls and customer challenge mechanisms for pricing, underwriting, fraud detection and claims settlement.

How it shows up in this industry

Insurers use pricing engines, actuarial model libraries, fraud analytics tools, credit information, telematics, health data, geospatial information and claims platforms to quote, renew, triage and settle policies. Regulatory scrutiny focuses on whether these tools produce unfair discrimination, opaque exclusions or poorer outcomes for vulnerable customers under conduct regimes such as the FCA Consumer Duty.

Why it may be material

Artificial intelligence is becoming embedded in underwriting and claims handling while regulators and litigants examine opaque pricing, proxy discrimination and automated claims outcomes, especially for life, health, motor, household and cyber products.

Disclosure connections LRA mapping · draft

• GRI 406-1 Partial Incidents of discrimination and corrective actions taken Incidents of discrimination — the outcome disclosure if credit or pricing models produce discriminatory results.
• ESRS S4-2 Supporting Engagement & Grievance Mechanisms Consumer grievance mechanisms — the challenge-and-appeal route for automated decisions.
• ESRS GOV-1 Contextual Role of the Administrative, Management and Supervisory Bodies Board oversight roles — where accountability for model governance would surface.

No dedicated AI-governance disclosure exists in GRI/ESRS/ISSB today; EU AI Act obligations sit outside sustainability standards. Expect entity-specific reporting.

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Enterprise-level governance of ethical conduct and regulatory compliance in consumer finance, including consumer credit rules, prudentially relevant conduct controls, anti-bribery, anti-corruption, AML, sanctions screening, complaint handling, remediation governance and whistleblowing.

How it shows up in this industry

Consumer finance firms operate under regimes such as the UK FCA Consumer Credit sourcebook, Consumer Duty, Consumer Credit Act requirements, UK GDPR, EU Consumer Credit Directive, US Truth in Lending Act, Regulation Z, Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, CFPB supervision, AML, counter-terrorist financing and sanctions obligations. Licence permissions, complaint handling, remediation and control effectiveness are central to permission to lend and collect.

Why it may be material

Regulatory compliance and business ethics are foundational because breaches can lead to licence restrictions, fines, restitution, customer redress, litigation, funding concerns and loss of market access. Strong conduct governance supports defensible growth across credit cards, loans, auto finance, student lending and embedded finance.

Standards to check

• ESRS Business conduct, corporate culture, protection of whistleblowers and management of relationships with regulatorssearch disclosure cards
• GRI Anti-corruption, anti-competitive behaviour, compliance and customer-related material topicssearch disclosure cards
• SASB business ethics, selling practices, regulatory compliance and customer welfare

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Design and governance of fees, penalty pricing, promotional finance, rewards programmes, add-on products, digital disclosures, advertising claims and customer communications for consumer credit products.

How it shows up in this industry

Credit card, instalment loan, auto finance, student loan and buy-now-pay-later products generate revenue through interest, interchange, annual fees, late fees, origination fees, merchant subsidies, rewards economics and ancillary products. Customer acquisition through direct mail, digital advertising, comparison sites, dealers, merchants and affinity partners makes disclosure quality and sales conduct financially material.

Why it may be material

Opaque terms, complex rewards economics, promotional expiry rules, add-on products with low customer value and so-called junk fees can materially affect borrower costs and regulatory exposure. Fee caps, bans on unfair practices and remediation of misleading digital journeys can affect revenue, operating cost and brand value.

Standards to check

• ESRS Consumers and end-users; information-related impacts, responsible marketing and product informationsearch disclosure cards
• GRI Marketing and labelling, customer information and fair dealingsearch disclosure cards
• SASB selling practices, fee transparency and customer complaints

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• Governance
• Industry baseline
• Strong industry signal
• Financial materiality

Workcard generated from the catalogue

What this topic covers

Governance and due diligence over critical suppliers, outsourced service providers and financial market infrastructure relationships that support regulated brokerage, trading, onboarding, research, clearing, settlement and client data-room activity.

How it shows up in this industry

Investment banking and brokerage depends on market data terminals, exchange connectivity, co-location facilities, cloud infrastructure, telecommunications links, KYC and sanctions data services, legal and valuation advisers, secure data rooms, clearing brokers, custodians and central securities depositories. Supplier failure or weak oversight can disrupt trading, onboarding, clearing, settlement, research distribution and confidentiality even where no cyber attack has occurred.

Why it may be material

Critical third-party relationships are embedded in order routing, market data, client onboarding, transaction execution, settlement and prime brokerage operations. Concentration, weak contractual controls, poor auditability or inadequate contingency planning can create business interruption, conduct failures, client harm, regulatory criticism and higher operating costs.

Standards to check

• ESRS ESRS G1 Business conduct and supplier relationship managementsearch disclosure cards
• ESRS ESRS S2 Value chain workers may apply where supplier labour impacts are materialsearch disclosure cards
• GRI GRI 2 governance and procurement disclosuressearch disclosure cards
• GRI GRI 308 Supplier Environmental Assessmentsearch disclosure cards
• GRI GRI 414 Supplier Social Assessment may be relevant for broader supplier due diligencesearch disclosure cards
• SASB operational and systemic risk themes may indirectly support critical third-party governance assessment

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality
• Cross-cutting

Workcard generated from the catalogue

What this topic covers

Governance and operational controls for personal data processing, profiling, retention, consent, portability, breach notification, cardholder data protection, cyber extortion response, synthetic identity detection, account takeover prevention and continuity of digital finance channels.

How it shows up in this industry

Consumer finance depends on mobile apps, web portals, APIs, payment gateways, card management platforms, customer data lakes, credit bureau feeds, open banking connections, cloud services and outsourced servicing. Application data, transaction histories, identity documents, device data, call recordings and cardholder data move across lenders, payment networks, bureaux, merchants and vendors.

Why it may be material

Data breaches, excessive profiling, consent failures, ransomware, fraud spikes and system outages can expose customers to identity theft, fraudulent debt, emotional distress and disrupted access to payment or servicing channels. Financial effects include fraud losses, card reissuance, breach remediation, litigation, cyber insurance changes and customer attrition.

Disclosure connections LRA mapping · draft

• GRI 418-1 Direct Substantiated complaints concerning breaches of customer privacy and losses of customer data Customer-privacy complaints and data losses — the core GRI outcome disclosure for the privacy half of this topic.
• GRI 3-3 Supporting Management of material topics Management of material topics — the GRI vehicle for cyber, which has no topical standard of its own.
• ESRS GDR-P Supporting Policies Adopted to Manage Material Sustainability Matters ESRS reports entity-specific material matters (like cyber) through the minimum disclosure requirements — policies first.

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality
• Cross-cutting

Workcard generated from the catalogue

What this topic covers

Resilience of insurer digital operations, including cyber controls, cloud concentration, outsourcing interfaces, identity management, incident response and continuity of policy and claims services.

How it shows up in this industry

Insurers store and transfer sensitive customer, broker, claims, medical, telematics, geospatial and payment data through core policy systems, claims platforms, pricing engines, cloud providers, reinsurers, analytics vendors and outsourcing partners. Cyber disruption can interrupt claims payments and emergency assistance when policyholders are already vulnerable.

Why it may be material

Cyber failures can interrupt premium collection and claims settlement, expose sensitive data, create regulatory penalties, raise technology expenditure and damage policyholder and broker trust.

Disclosure connections LRA mapping · draft

• GRI 3-3 Supporting Management of material topics Cyber and operational resilience have no GRI topical standard — 3-3 is where the management approach is disclosed once the topic is deemed material.
• GRI 418-1 Partial Substantiated complaints concerning breaches of customer privacy and losses of customer data Covers the personal-data dimension of cyber incidents; continuity and third-party risk are out of its scope.
• ESRS GDR-P Supporting Policies Adopted to Manage Material Sustainability Matters The ESRS route for entity-specific material matters: policies, actions, metrics and targets via the general disclosure requirements.

Near-duplicate of the other cyber topics in this industry — will merge into one canonical topic in the taxonomy clean-up.

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality
• Cross-cutting

Workcard generated from the catalogue

What this topic covers

Protection of customer data and continuity of critical banking services through cyber security controls, identity management, cloud oversight, incident response, impact tolerances and disaster recovery.

How it shows up in this industry

Commercial banks depend on core banking platforms, payments gateways, mobile and internet banking applications, data warehouses, identity systems, outsourced cloud infrastructure, telecommunications links and disaster recovery sites. A major outage or cyber compromise can stop deposits, wages, benefits, card payments, cash access, loan servicing and customer contact operations.

Why it may be material

Cyber attacks, privacy breaches and operational outages can trigger regulatory penalties, customer compensation, litigation, deposit flight, loss of payment fee income, cyber insurance escalation and elevated technology CAPEX. Operational resilience requirements increase expectations for tested recovery, third-party oversight and service impact tolerances.

Disclosure connections LRA mapping · draft

• GRI 3-3 Supporting Management of material topics Cyber and operational resilience have no GRI topical standard — 3-3 is where the management approach is disclosed once the topic is deemed material.
• GRI 418-1 Partial Substantiated complaints concerning breaches of customer privacy and losses of customer data Covers the personal-data dimension of cyber incidents; continuity and third-party risk are out of its scope.
• ESRS GDR-P Supporting Policies Adopted to Manage Material Sustainability Matters The ESRS route for entity-specific material matters: policies, actions, metrics and targets via the general disclosure requirements.

Near-duplicate of the other cyber topics in this industry — will merge into one canonical topic in the taxonomy clean-up.

See how companies report it →

• Governance
• Industry baseline
• Strong industry signal
• Double materiality
• Cross-cutting

Workcard generated from the catalogue

What this topic covers

Protection and resilience of trading, market data, client onboarding, restricted-list, research, clearing, settlement and secure data-room systems, including cyber controls, privacy safeguards, third-party technology dependency and disaster recovery.

How it shows up in this industry

Order management systems, execution management systems, smart order routers, market data feeds, co-located servers, cloud infrastructure, restricted-list databases, client portals, research archives and secure data rooms are central operating assets for regulated broker-dealer activity. A breach or outage can interrupt trading, leak confidential deal documents, expose personal and transaction data, trigger unauthorised trades and disrupt clearing or settlement windows.

Why it may be material

Technology availability and data confidentiality are direct drivers of commissions, spreads, advisory work and regulatory trust. Cyber extortion, credential theft, market data vendor outages or cloud concentration failures can cause business interruption, client compensation, penalties, higher insurance premiums and loss of order flow.

Disclosure connections LRA mapping · draft

• GRI 3-3 Supporting Management of material topics Cyber and operational resilience have no GRI topical standard — 3-3 is where the management approach is disclosed once the topic is deemed material.
• GRI 418-1 Partial Substantiated complaints concerning breaches of customer privacy and losses of customer data Covers the personal-data dimension of cyber incidents; continuity and third-party risk are out of its scope.
• ESRS GDR-P Supporting Policies Adopted to Manage Material Sustainability Matters The ESRS route for entity-specific material matters: policies, actions, metrics and targets via the general disclosure requirements.

Near-duplicate of the other cyber topics in this industry — will merge into one canonical topic in the taxonomy clean-up.

See how companies report it →

• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Supply chain and business partner governance for third parties that originate, distribute, service, collect, process data for, recover collateral for or purchase charged-off consumer finance accounts.

How it shows up in this industry

Consumer finance distribution and servicing relies on car dealers, merchants, e-commerce platforms, brokers, affiliates, comparison sites, credit bureaux, payment processors, cloud providers, repossession agents, debt collection agencies and loan servicing vendors. Their incentives and controls affect product suitability, disclosure delivery, data transfers, servicing quality, recoveries and regulatory accountability.

Why it may be material

Third parties often control the customer interaction at point of sale, during servicing or after charge-off while the lender retains conduct and regulatory exposure. Weak oversight can turn partner behaviour into mis-selling, discriminatory mark-ups, data mishandling, unlawful collections, inaccurate credit reporting and contractual disputes.

Standards to check

• ESRS Business conduct, supplier relationship management and consumers and end-users where third-party distribution affects consumerssearch disclosure cards
• GRI Supplier assessment, customer privacy, marketing and anti-corruption where partners distribute or service productssearch disclosure cards
• SASB selling practices, data security, business ethics and customer complaint themes involving third parties

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality
• Cross-cutting

Workcard generated from the catalogue

What this topic covers

Protection of client data, transaction integrity and service continuity across digital investment, custody, fund accounting, portal, API, cloud and outsourced service chains.

How it shows up in this industry

Asset management and custody activities rely on portfolio management systems, custody books of record, fund accounting platforms, client portals, mobile applications, application programming interfaces, cloud infrastructure, market data feeds, SWIFT-linked messaging, disaster recovery sites and encrypted data vaults. Higher threat levels against transfer agents, sub-custodians, market infrastructure and client portals make cyber and operational resilience a direct driver of client trust and regulatory standing.

Why it may be material

Outages, ransomware, account takeover and data breaches can stop subscriptions, redemptions, statements, settlement and custody reporting. Financial consequences include remediation payments, litigation, regulatory notification, insurance exclusions, cyber security expenditure, lost mandates and damage to brand value.

Disclosure connections LRA mapping · draft

• GRI 3-3 Supporting Management of material topics Cyber and operational resilience have no GRI topical standard — 3-3 is where the management approach is disclosed once the topic is deemed material.
• GRI 418-1 Partial Substantiated complaints concerning breaches of customer privacy and losses of customer data Covers the personal-data dimension of cyber incidents; continuity and third-party risk are out of its scope.
• ESRS GDR-P Supporting Policies Adopted to Manage Material Sustainability Matters The ESRS route for entity-specific material matters: policies, actions, metrics and targets via the general disclosure requirements.

Near-duplicate of the other cyber topics in this industry — will merge into one canonical topic in the taxonomy clean-up.

See how companies report it →

• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Controls over AI, machine learning, scorecards and rule engines used in underwriting, affordability, pricing, credit limits, dealer discretion and adverse action communications, including fairness testing, explainability, validation and documentation.

How it shows up in this industry

Consumer finance relies on scorecards, affordability engines, fraud analytics, behavioural scoring, alternative data and pricing engines to approve, decline, set limits and manage credit card, personal loan, auto finance, student loan and buy-now-pay-later accounts. Dealer-arranged auto finance and embedded finance partner flows can amplify unfair outcomes if model documentation, explainability and monitoring are weak.

Why it may be material

Automated and semi-automated credit decisions directly shape access to liquidity, borrowing costs, credit limits and adverse action communications. Weak governance can cause discriminatory outcomes, supervisory intervention, restitution, model redevelopment costs and loss of confidence from regulators, merchants and investors.

Standards to check

• ESRS Consumers and end-users; non-discrimination, access to services and impacts from digital systemssearch disclosure cards
• GRI Non-discrimination, customer privacy and customer-related impacts where model outcomes affect access and pricingsearch disclosure cards
• SASB selling practices, business ethics, customer welfare and data-related governance

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of regulated fiduciary conduct in investment management and custody, including conflicts of interest, allocation and execution controls, market abuse surveillance, inducements, regulated fee disclosure, performance presentation and escalation of client-harm conduct breaches.

How it shows up in this industry

Asset managers and custodians operate under regimes such as the UK Financial Conduct Authority Conduct of Business Sourcebook and Client Assets Sourcebook, MiFID II and MiFIR, UCITS, AIFMD, SEC investment adviser and investment company rules, custody requirements and Global Investment Performance Standards. Portfolio managers, dealers, client service teams, compliance staff and fund boards must manage conflicts, execution quality, inducements, performance presentation and controlled functions in a fiduciary business model.

Why it may be material

Business ethics and regulatory compliance are licence-to-operate matters in this subindustry. Weak fiduciary and market-conduct controls can cause unfair client outcomes, misallocation, inaccurate performance reporting, regulatory fines, business restrictions, mandate losses, higher compliance expenditure and reputational harm with trustees, platforms and regulators.

Standards to check

• ESRS ESRS G1 Business conduct, corporate culture, protection of whistleblowers, corruption and bribery, and entity-specific regulated conduct matterssearch disclosure cards
• GRI GRI anti-corruption, anti-competitive behaviour and general governance disclosures, with financial conduct elements requiring entity-specific interpretationsearch disclosure cards
• SASB business ethics, regulatory compliance and transparent information and fair advice for customers

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Controls that prevent capital markets, brokerage, prime brokerage and cross-border trading services from enabling money laundering, sanctions evasion, terrorist financing, bribery proceeds or other illicit finance, including KYC, beneficial ownership, transaction monitoring and suspicious activity reporting.

How it shows up in this industry

Investment banking and brokerage firms onboard issuers, sponsors, hedge funds, sovereigns, municipalities, family offices, high-net-worth clients and trading counterparties across jurisdictions. Cross-border securities offerings, secondary trading, prime brokerage, clearing, custody reporting, digital onboarding and beneficial ownership checks can be misused to move criminal proceeds, evade sanctions or obscure ownership.

Why it may be material

Financial crime and sanctions controls are core to maintaining broker-dealer permissions, cross-border market access, clearing relationships and regulatory trust. Geopolitical fragmentation increases the materiality of screening accuracy, timely escalation and mandate decisions in securities trading and capital markets work.

Standards to check

• ESRS ESRS G1 Business conduct, including corruption and bribery; entity-specific financial crime disclosures where materialsearch disclosure cards
• GRI GRI 205 Anti-corruptionsearch disclosure cards
• GRI GRI 2 governance and compliance disclosuressearch disclosure cards
• SASB Business Ethics and Professional Integrity

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance, systems and controls for preventing misuse of bank accounts, payment rails, trade finance and correspondent networks for financial crime, sanctions evasion and corruption-related flows.

How it shows up in this industry

Commercial banks open accounts, conduct know-your-customer checks, process domestic and cross-border payments, provide correspondent banking, issue trade finance instruments and manage merchant acquiring. These channels can be misused for money laundering, sanctions evasion, terrorist financing, corruption proceeds, tax evasion and organised crime if screening, monitoring and escalation controls fail.

Why it may be material

Financial crime failures can generate large fines, monitorships, remediation programmes, correspondent banking restrictions, licence conditions and loss of institutional funding confidence. Compliance technology, data quality and investigation staffing are persistent operating cost drivers.

Disclosure connections LRA mapping · draft

• GRI 205-1 Partial Operations assessed for risks related to corruption Operations assessed for corruption risk — the closest GRI anchor; AML/sanctions scope is wider than corruption.
• GRI 205-2 Partial Communication and training about anti-corruption policies and procedures Anti-corruption communication and training — maps to financial-crime training coverage.
• GRI 205-3 Partial Confirmed incidents of corruption and actions taken Confirmed corruption incidents — the outcome metric, again narrower than AML.
• ESRS G1-1 Partial Policies (Business Conduct) Business-conduct policies — where AML, sanctions and whistleblowing policies are disclosed under ESRS.
• GRI 2-27 Supporting Compliance with laws and regulations Compliance with laws and regulations — captures AML enforcement actions and fines.

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of financial crime, sanctions, tax classification, beneficial ownership, restricted securities and asset mobility controls across onboarding, transaction monitoring, custody payments, securities movements and sub-custodian networks.

How it shows up in this industry

Client onboarding, anti-money laundering screening, sanctions screening, tax classification, beneficial ownership information, custody payment controls, sub-custodian relationships and restricted-market procedures are central to global asset management and custody. Custody and payment controls can block or enable sanctioned entities, corrupt asset flows, tax evasion structures and restricted securities movements.

Why it may be material

Breaches can lead to fines, business restrictions, correspondent banking disruption, sub-custodian access loss, remediation costs and damage to regulatory permissions, fund authorisations and custody banking relationships. Geopolitical sanctions, capital controls and market closures can freeze client assets, disrupt corporate actions and create litigation.

Standards to check

• ESRS ESRS G1 Business conduct, corruption and bribery, and entity-specific financial crime controlssearch disclosure cards
• GRI GRI anti-corruption, anti-competitive behaviour and tax-related disclosures where applicablesearch disclosure cards
• SASB business ethics and regulatory compliance

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Business ethics, anti-corruption, whistleblowing and regulatory compliance controls for insurance prudential, conduct, financial reporting, product governance and claims obligations.

How it shows up in this industry

Insurers operate under prudential and conduct regimes such as Solvency II, Solvency UK, the Insurance Distribution Directive, own risk and solvency assessment requirements, IFRS 17 reporting and FCA Consumer Duty or equivalent customer-outcome rules. Ethical failures can arise in claims litigation, broker relationships, procurement, delegated authorities, reserving assumptions, regulatory reporting and investment-linked products.

Why it may be material

Regulatory authorisation, solvency confidence and customer trust are fundamental to insurance. Weak ethics or compliance controls can lead to licence restrictions, capital add-ons, fines, redress, litigation and loss of broker or policyholder confidence.

Standards to check

• ESRS Business conduct, corporate culture, corruption and bribery, and regulatory compliance controlssearch disclosure cards
• GRI Anti-corruption, public policy, socio-economic compliance and governance disclosuressearch disclosure cards
• SASB Insurance systemic risk management, regulatory compliance, customer complaints and litigation

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

The impacts of insurer and intermediary sales practices, commissions, delegated authority, embedded distribution and product governance on customer understanding, consent, suitability and fair value.

How it shows up in this industry

Insurance is distributed through tied agents, independent brokers, bancassurance, employer schemes, comparison websites, affinity partners, embedded digital journeys and managing general agents. Delegated authority, commissions, comparison-site fees and complex add-on products can shape whether customers understand, need and benefit from cover.

Why it may be material

Bundled, add-on and creditor insurance products can be mis-sold where customer need, consent or value is weak. Distribution channels are central to how insurance reaches customers and can create harm before claims arise.

Standards to check

• ESRS Consumers and end-users, including information-related impacts, product accessibility and responsible marketing; business conduct controls where relevantsearch disclosure cards
• GRI Marketing and labelling, customer privacy and socio-economic compliance topics where applicablesearch disclosure cards
• SASB Customer complaints, litigation and product design-related topics

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of insurance third parties and outsourced service providers, including due diligence, delegated authority oversight, supplier conduct, labour expectations, customer outcome controls and remediation of supplier failures.

How it shows up in this industry

Insurance delivery relies on brokers, agents, managing general agents, comparison platforms, loss adjusters, repairers, medical provider panels, roadside assistance, cloud providers, analytics vendors, outsourced call centres, reinsurers, custodians and investment managers. These parties can influence customer outcomes, data handling, claims quality, worker conditions and regulatory compliance under delegated authority or outsourcing arrangements.

Why it may be material

Third-party failures can create mis-selling, claims delays, data misuse, repair quality problems, labour concerns and regulatory breaches. Outsourcing and delegated authority are central operating features for insurers and are increasingly scrutinised by supervisors.

Standards to check

• ESRS Workers in the value chain, consumers and end-users, business conduct and supplier relationship managementsearch disclosure cards
• GRI Supplier social assessment, procurement practices, customer-related and governance disclosuressearch disclosure cards
• SASB Customer complaints, data security and systemic risk management through outsourcing and delegated authority

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of trading, market making, prime brokerage leverage, securities lending, execution controls, collateral, counterparty exposure, clearing and settlement processes that preserve fair, orderly and resilient markets and reduce loss transmission.

How it shows up in this industry

Sales and trading desks, smart order routers, direct market access, market-making books, block trades, derivatives hedging, securities lending, prime brokerage margin financing, clearing interfaces and delivery-versus-payment settlement affect price formation and liquidity across securities and derivatives markets. Shorter settlement cycles compress operational windows for trade repair, securities lending recalls, funding and collateral movement.

Why it may be material

Balance-sheet capacity, regulatory capital, liquidity buffers, counterparty confidence and settlement performance determine the scale of underwriting, market-making and prime brokerage revenues. Weak leverage, liquidity, surveillance or settlement controls can create trading losses, capital strain, client defaults, clearing disruption and regulatory restrictions.

Standards to check

• ESRS ESRS G1 Business conductsearch disclosure cards
• ESRS ESRS 2 risk management disclosures for market integrity, trading conduct and settlement control governancesearch disclosure cards
• GRI GRI 201 Economic Performancesearch disclosure cards
• GRI GRI 2 governance disclosures; systemic market stability and securities settlement resilience are not direct GRI topicssearch disclosure cards
• SASB Systemic Risk Management; Business Ethics; Employee Incentives and Risk Taking

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance and due diligence over critical outsourced providers and market infrastructure dependencies that support custody, fund accounting, transfer agency, data, index construction, proxy voting, technology, reporting and asset servicing.

How it shows up in this industry

Asset management and custody operations depend on index providers, proxy advisers, fund administrators, transfer agents, cloud and technology providers, market data vendors, local sub-custodians, central securities depositories and professional advisers. Outsourced service failures can affect net asset values, stewardship votes, client reporting, settlements, corporate actions, privacy and custody safekeeping.

Why it may be material

Complex outsourced service chains are a material governance channel in this subindustry. Weak due diligence can cause custody losses, inaccurate reporting, index or proxy-voting errors, operational outages, regulatory findings, higher insurance costs and client mandate loss.

Standards to check

• ESRS ESRS G1 Business conduct and supplier relationship managementsearch disclosure cards
• ESRS ESRS S4 where outsourced services affect consumers and end-userssearch disclosure cards
• GRI GRI supplier assessment and procurement practice disclosures by analogy to critical financial service providerssearch disclosure cards
• SASB systemic risk management, data security and business ethics areas where third-party dependencies are relevant

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of conflicts of interest, research independence, information barriers, allocation practices, personal account dealing and offering disclosures where advisory, underwriting, lending, trading and research roles interact.

How it shows up in this industry

The same institution may advise issuers, underwrite securities, lend to sponsors, produce research, allocate new issues and trade in related instruments. Restricted lists, information barriers, conflict checks, wall-crossing procedures and research independence controls determine whether investors receive fair information and whether issuers receive advice that is not distorted by fee incentives.

Why it may be material

Conflicts and disclosure controls are fundamental to regulated capital markets activity. Failures can produce investor losses, insider dealing concerns, litigation after failed offerings or SPAC transactions, enforcement action, loss of research credibility and mandate loss from perceived advice bias.

Standards to check

• ESRS ESRS G1 Business conductsearch disclosure cards
• ESRS ESRS S4 Consumers and end-users where conflicts affect investor outcomessearch disclosure cards
• GRI GRI 2 governance, ethics and conflicts of interest disclosuressearch disclosure cards
• GRI GRI 417 Marketing and Labelling for client-facing informationsearch disclosure cards
• SASB Business Ethics and Professional Integrity

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of sensitive insurance data boundaries, including consent, proportionality, retention, third-party sharing and surveillance controls for health, genetic, telematics, geolocation, credit, claims and fraud-investigation data.

How it shows up in this industry

Insurance data moves through application forms, broker systems, APIs, telematics devices, medical reports, police reports, drones, satellite imagery, Internet of Things sensors, reinsurers, cloud providers and analytics vendors. Life, health, motor, travel and fraud investigation processes can involve medical, geolocation, driving, credit and claims evidence that is more intrusive than ordinary customer data.

Why it may be material

Open insurance, embedded distribution, real-time telematics, health analytics and fraud surveillance are expanding the volume and sensitivity of data used by insurers, while data protection and conduct regulators scrutinise consent, necessity and customer vulnerability.

Standards to check

• ESRS Consumers and end-users, including privacy, non-discrimination and information-related impacts; business conduct where controls are centralsearch disclosure cards
• GRI Customer privacy, with sector-specific extension for sensitive insurance datasearch disclosure cards
• SASB Customer privacy and information security considerations

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Effectiveness and consistency of proxy voting, issuer engagement, escalation, stewardship reporting and securities lending recall practices against published client, climate, labour, biodiversity and governance policies.

How it shows up in this industry

Stewardship, proxy voting, issuer engagement, escalation and securities lending recall are explicit outputs of asset management. Large active and passive managers can influence board composition, executive pay, climate strategy, restructuring, supply chain standards and labour practices, while index fund growth has concentrated voting influence among fewer institutions.

Why it may be material

Credible stewardship supports consultant ratings, trustee relationships, distribution agreements and mandate renewals. Weak alignment between stated policies and actual votes can reduce client influence over investee behaviour, cause reputational damage and invite scrutiny from asset owners, regulators and civil society.

Standards to check

• ESRS ESRS governance disclosures and topical ESRS disclosures where stewardship is used as an action pathwaysearch disclosure cards
• GRI GRI governance, stakeholder engagement and material topic management disclosures applied to stewardship governancesearch disclosure cards
• SASB incorporation of ESG factors in investment management and advisory, including proxy voting and engagement activity

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Controls over the structuring, due diligence, disclosure, marketing and distribution of sustainability-labelled securities and ESG research, including eligibility criteria, use-of-proceeds evidence, key performance indicators, transition labels, taxonomy references and balanced investor communications.

How it shows up in this industry

Investment banks structure, underwrite, syndicate and distribute green, social, sustainability-linked and transition-labelled bonds, and may publish ESG research or marketing material to institutional and retail investors. Weak use-of-proceeds controls, undemanding targets, inadequate taxonomy alignment or overstated transition narratives can turn fee-generating products into enforcement, litigation and reputation exposures.

Why it may be material

Sustainable finance is a material fee pool and a reputational differentiator, but inaccurate claims can mislead investors, misallocate capital and undermine confidence in transition finance markets. The financial channel is direct because prospectus preparation, bookbuilding, research distribution and investor allocations rely on robust due diligence over labelled claims.

Standards to check

• ESRS ESRS G1 Business conductsearch disclosure cards
• ESRS ESRS E1 Climate change where claims concern transition plans or emissionssearch disclosure cards
• GRI GRI 417 Marketing and Labellingsearch disclosure cards
• GRI GRI 201 Economic Performance, applied to sustainable finance productssearch disclosure cards
• SASB Incorporation of Environmental, Social, and Governance Factors in Investment Banking & Brokerage Activities; Business Ethics

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of sustainability-related product claims so that fund names, labels, disclosures, holdings, exclusions, benchmarks and stewardship commitments match what clients are sold.

How it shows up in this industry

Asset managers launch and distribute mutual funds, exchange-traded funds, model portfolios and segregated mandates through prospectuses, client portals, factsheets, holdings files and adviser platform feeds. Regulatory scrutiny under the UK Financial Conduct Authority Sustainability Disclosure Requirements and similar fund-name and label regimes makes consistency between marketed characteristics, holdings, exclusions, benchmarks, stewardship commitments and ESG scoring methodologies a core control issue.

Why it may be material

Sustainable and transition-labelled funds are prominent revenue and distribution products. Mis-labelled funds can misdirect pension, retail and institutional capital, trigger greenwashing enforcement, litigation, product restrictions, remediation and mandate withdrawals, and damage platform and consultant confidence.

Standards to check

• ESRS ESRS G1 Business conductsearch disclosure cards
• ESRS ESRS S4 Consumers and end-users; topical ESRS where product claims refer to climate, nature or social impactssearch disclosure cards
• GRI GRI marketing and labelling and responsible business conduct disclosures where applicablesearch disclosure cards
• SASB transparent information and fair advice for customers; incorporation of ESG factors

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• Governance
• Industry baseline
• Strong industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance and management of capital, liquidity, interest rate risk and resolution readiness to maintain depositor confidence and continuity of core banking functions.

How it shows up in this industry

Commercial banks transform customer deposits and wholesale funding into mortgages, commercial loans, credit cards and treasury assets while managing central bank reserves, collateral, capital and liquidity buffers. Interest rate volatility, deposit confidence, correlated credit exposures and resolution preparedness affect funding costs, balance sheet capacity and payment system stability.

Why it may be material

Weak liquidity or capital resilience can increase wholesale funding costs, constrain loan growth, restrict distributions and trigger supervisory intervention or resolution actions. Bank instability can interrupt credit and payments, deepen downturns and expose deposit guarantee schemes or taxpayers to costs.

Disclosure connections LRA mapping · draft

• GRI 3-3 Supporting Management of material topics If deemed material for sustainability reporting, the management approach is disclosed here.
• GRI 201-1 Contextual Direct economic value generated and distributed Economic value generated and distributed — background context only.

Capital, liquidity and resolution disclosure lives in Basel Pillar 3 and financial reporting, not sustainability standards — cross-reference rather than duplicate.

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• Governance
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance and transparency of insurer lobbying, trade association activity, political contributions and public policy engagement on regulation, climate adaptation, market access and public-private risk schemes.

How it shows up in this industry

Insurers and reinsurers engage with governments and supervisors on solvency capital, mandatory cover, residual markets, flood or terrorism pools, climate disclosure, data use, tax incentives, public disaster schemes and sustainable finance regulation. Policy positions can influence whether climate-exposed households, small businesses and public bodies have access to affordable risk transfer.

Why it may be material

Insurance markets are closely shaped by law, prudential supervision and public-private schemes. Misaligned or opaque lobbying can undermine climate resilience, consumer protection and trust in the sector's transition commitments.

Disclosure connections LRA mapping · draft

• GRI 415-1 Direct Political contributions Political contributions — the core GRI disclosure for this topic.
• ESRS G1-5 Direct Political Influence & Lobbying Political influence and lobbying — the ESRS mirror, including trade-association alignment.
• GRI 2-28 Supporting Membership associations Membership associations — where trade-body memberships are listed.

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• Governance
• Business-model dependent
• Moderate industry signal
• Double materiality

Workcard generated from the catalogue

What this topic covers

Governance of public policy engagement, lobbying, consultation responses, political contributions and trade association activity where asset managers and custodians seek to influence the rules governing financial markets, sustainability disclosure, stewardship and client asset services.

How it shows up in this industry

Asset managers and custodians are affected by and often engage on rules covering fund authorisation, custody, client assets, market conduct, sustainability disclosure, stewardship codes, settlement discipline, data resilience and money market funds. Public positions and trade association activity can influence the regulatory framework that governs labels, voting duties, fiduciary standards, disclosure costs and market infrastructure.

Why it may be material

Policy engagement can shape operating costs, product design, stewardship expectations and market access. Misalignment between lobbying positions and stated sustainability or client-outcome commitments can damage trust with pension schemes, charities, regulators and civil society.

Disclosure connections LRA mapping · draft

• GRI 415-1 Direct Political contributions Political contributions — the core GRI disclosure for this topic.
• ESRS G1-5 Direct Political Influence & Lobbying Political influence and lobbying — the ESRS mirror, including trade-association alignment.
• GRI 2-28 Supporting Membership associations Membership associations — where trade-body memberships are listed.

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• Governance
• Business-model dependent
• Moderate industry signal
• Financial materiality

Workcard generated from the catalogue

What this topic covers

Governance of lobbying, political contributions, trade association activity and policy advocacy on matters shaping commercial banking regulation and sustainability commitments.

How it shows up in this industry

Commercial banks are subject to intensive prudential, conduct, payments, data protection, financial crime, resolution and sustainability disclosure regimes. They commonly engage with regulators, governments, trade associations and standard setters on capital rules, liquidity, Consumer Duty-style requirements, payment fraud reimbursement, open banking, digital identity, climate scenario analysis and financed-emissions disclosure.

Why it may be material

Public policy engagement can influence the operating licence, capital requirements, payment economics, customer protection obligations and climate finance rules. Misalignment between lobbying positions and stated customer, climate or financial-crime commitments can create reputational, investor and regulatory trust concerns.

Disclosure connections LRA mapping · draft

• GRI 415-1 Direct Political contributions Political contributions — the core GRI disclosure for this topic.
• ESRS G1-5 Direct Political Influence & Lobbying Political influence and lobbying — the ESRS mirror, including trade-association alignment.
• GRI 2-28 Supporting Membership associations Membership associations — where trade-body memberships are listed.

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