Red Line | Text of policies | Comments | Score |
---|---|---|---|
Regulatory requirements | |||
Ensure Legality | Social and Environmental Risk Policy The Social and Environmental Risk Policy of BancoEstado takes into account the provisions of national legislation in these matters, especially Law 19 300 on General Bases of the Environment, its amendments, public policies and, of course, all relevant complementary legislation. Likewise, this Policy declares that it takes as a reference some international standards to determine, evaluate and manage the social and environmental risks of projects citing as an example The Equator Principles, IFC’s Performance Standards, among others, without prejudice to the fact that its interpretation, application and scope will depend on definitions and updates that are explicitly established in this Policy. (p3) | The policy requires compliance with national laws and mentions international laws, but does not reference key ones. | partly |
No Corruption and Tax Evasion | Manual de Ética Lavado de activos, financiamiento al terrorismo y cohecho.- Para enfrentar el lavado de dinero, el financiamiento del terrorismo, el cohecho, los fraudes y demás actos ilícitos, los trabajadores y colaboradores de BancoEstado deben adecuar sus decisiones y actuaciones a lo previsto en el Manual de Prevención de Lavado de Activos, el Modelo de Prevención de Delitos y su manual específico y la normativa interna complementaria referida en el Reglamento Interno de Orden, Higiene y Seguridad. Asimismo, quienes trabajan en BancoEstado o participan de alguna forma en su gestión, han de tomar conciencia que su actuación puede dar lugar no sólo a responsabilidades individuales, sino también a responsabilidades institucionales, sean de orden civil, penal o administrativo. | The policy does not cover corruption nor tax evasion. | not |
Ensure ESIA for mills and plantations | No publicly available policies or documentation were found that cover this criteria. | not | |
Social requirements | |||
Ensure FPIC | No publicly available policies or documentation were found that cover this criteria. | not | |
Respect Human Rights | Corporate Sustainability Policy (2017) Promote and respect Human Rights under the guidance of the Universal Declaration of Human Rights, the Guiding Principles of the United Nations on Business and Human Rights and other frameworks internationally recognized and adopted by the State of Chile. (p6) (This includes ILO core conventions - https://www.ilo.org/dyn/normlex/en/f?p=NORMLEXPUB:11200:0::NO::P11200_COUNTRY_ID:102588) Social and Environmental Risk Policy LIST OF EXCLUSION - BancoEstado has defined to abstain from participating in financing for companies that, within their main activity, produce or market the following goods and or services: (...) Production or activities that involve forced or child labor (p8) | Slave and Child labour are excluded and international conventions on human rights should be respected. | well |
Respect Indigenous rights and customary land use rights | No publicly available policies or documentation were found that cover this criteria. | not | |
No forced resettlement | No publicly available policies or documentation were found that cover this criteria. | not | |
Environmental Requirements | |||
No forest degradation and deforestation | Social and Environmental Risk Policy LIST OF EXCLUSION - BancoEstado has defined to abstain from participating in financing for companies that, within their main activity, produce or market the following goods and or services: (...) Production or commercialization of wood or other forest products without being from sustainably managed forests (p8) | There is a requirement for clients to manage their forests sustainably, but no explanation on what that actually means. | not |
Protect endangered species | No publicly available policies or documentation were found that cover this criteria. | not | |
No high-risk species | No publicly available policies or documentation were found that cover this criteria. | not | |
No fire | No publicly available policies or documentation were found that cover this criteria. | not | |
Protect peat | No publicly available policies or documentation were found that cover this criteria. | not | |
No persistent pollution | No publicly available policies or documentation were found that cover this criteria. | not | |
Corporate association / scope of the policy | |||
Corporate association / scope of the policy | No publicly available policies or documentation were found that cover this criteria. | not |