Case Study
A bank needed support in enhancing its ESG ratings, applying IFRS S1 and S2 to its business
The largest bank in the world by capital, with total assets of SAR 801 billion, paid-up capital of SAR 40 billion, over 20,000 employees, and a network of more than 511 branches and 4,603 ATMs across five countries.
The business situation
- The Bank required support in developing its 2024 Annual and Sustainability Report. In addition to the Report, the Bank also required support in enhancing its ESG ratings for the platforms S&P Global, MSCI, and Sustainalytics and understanding how it can apply the IFRS S1 and S2 standards to its business
Our team’s role
Reporting
Developing the annual and sustainability reports
Ratings Improvement
Enhancing ESG ratings with S&P Global, MSCI, and Sustainalytics
Standards Readiness
Conducting GHG Inventorization and performing an IFRS S1 and S2 gap assessment
The value our team added
- Identified and assessed improvement areas in the Bank’s ESG ratings against S&P Global, MSCI, and Sustainalytics requirements
- Conducted a gap assessment of the Bank’s data collection capabilities
- Held stakeholder consultations to understand data collection and monitoring processes
- Developed an ESG Ratings Enhancement Report with short-, medium-, and long-term recommendations over a two-year horizon
- Redesigned the content structure for the Bank’s 2024 Annual and Sustainability Report, collaborating with the Bank’s report development agency to incorporate short-term ESG recommendations
- Shared GRI-aligned data templates to support accurate and consistent reporting
- Conducted an IFRS S1 and S2 gap assessment to plan for full alignment
- Partnered with the Bank’s property management company to identify emission sources and calculate the Bank’s GHG emissions
Advance ESG Maturity
From Reporting and Ratings to Climate Disclosures and IFRS Alignment
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