External Verification Report

To all interested parties of GRUPO FINANCIERO FICOHSA

Introduction

The Honduran Foundation for Corporate Social Responsibility FUNDAHRSE is a private sector organization in Honduras. Created in 2004, it has a code of ethics in order to ensure high standards of transparency and integrity in order to prevent possible conflicts of interest. FUNDAHRSE, in its capacity as external verifier, has been in charge of conducting the analysis process of the 2020 Sustainability Report of GRUPO FINANCIERO FICOHSA, for which a series of evaluation techniques were implemented.

Verification scope

The main function of FUNDAHRSE was to provide a statement of truthfulness about the information provided in Grupo Financiero Ficohsa’s 2020 Sustainability Report in accordance with the requirements of the International Norms and standards of:

  • GRI-Standard
  • SASB
  • Sustainable Development Goals
  • GLOBAL COMPACT
  • INDICARSE 2020
  • ISO 26000: 2010

To this end, a methodology was defined following the GRI-Standards process, which included the review of the content of this report, the data on basic and specific content, such as the associated sector documents. The verified information rests on the operations of Grupo Financiero Ficohsa and the data provided by the reporting organization.

Methodology used

FUNDAHRSE verified the consistency of the information based on the principles to determine the contents of a GRI-Standards report and for this purpose, the relevant and pertinent documentation provided by Grupo Financiero Ficohsa, interviews with key people for the generation of indicators, access to records of stories and testimonies, analysis of sector documents and sampling of the main performance indicators of the organization. The corresponding table is attached with the details of the methodology for the verification of the indicators.

Conclusions

Based on the verification work, it has been concluded that Grupo Financiero Ficohsa’s 2020 Sustainability Report has been carried out complying with the “in accordance” criteria, with the guide for the preparation of the sustainability reports of GRI-standards and the quality aforementioned standards.

The following chart reflects the level of application of the principles established by the international criteria used. It shows the application of the principles that allow considering Grupo Financiero Ficohsa’s 2020 Sustainability Report in Comprehensive.

GRI-Standards Principles Level of Application

Highlights

• The presence of Grupo Financiero Ficohsa’s integration to the Sustainable Development Goals and its alignment with the SASB Standard, ISO 26000, INDICARSE 2020 and the principles of the Global Compact as benchmarks of the organization’s sustainable development management stands out, thus complying with the principles of sustainability and comprehensiveness.
• The realization of materiality and respect for the principles of materiality and inclusion are verified through social consultations that generate response and compliance actions by the organization.
• Approach for the presence of an Integrated Report through the integration of the SASB Standard.

Areas of improvement

• Consolidate the evaluation mechanisms in the environmental dimension in association with the Sustainable Banking criteria.
• Strengthen the research needs in the selected material topics.
• Accelerate the process of disseminating Grupo Financiero Ficohsa’s strategy in line with the Sustainable Development Goals based on the economic reactivation of the Central American region.

San Pedro Sula, May 20th, 2021

ROBERTO LEIVA
FUNDAHRSE EXECUTIVE DIRECTOR

Independent Verification Report for Grupo Financiero Ficohsa S.A Management

To General Management:

At your request, we have been required to provide a limited level of assurance on Banco Ficohsa’s Environmental Footprint in Honduras (hereinafter “Ficohsa”), which includes the carbon and ecological footprint inventory (the Main Issue), to the period from January 1 to December 31, 2020. Specifically, regarding whether the Environmental Footprint prepared by the Administration of Ficohsa, is prepared in accordance with the criteria established in ISO 14064-1 1: 2006 and the GHG Protocol accounting and reporting principles.

Responsibilities of Management

Ficohsa Management, through the Social Responsibility area, is responsible for preparing the 2020 Environmental Footprint, free of material deviations, in accordance with the applicable Voluntary Criteria and the information contained therein.

Ficohsa Management is responsible for the design, implementation and maintenance of the relevant internal control for the preparation and presentation of the 2020 Environmental Footprint. Also, for the application of the criteria established in the ISO 14064-1: 2006 Standard and the accounting and GHG Protocol report.

Ficohsa Management is responsible for preventing and detecting fraud and for identifying and ensuring that Ficohsa complies with the laws and regulations applicable to its occupations.

Ficohsa Administration is responsible for ensuring that the personnel involved in the preparation of the 2020 Environmental Footprint are properly trained, the systems are properly updated and the changes that could be made cover all significant reporting activities.

Our Responsibilities

Our responsibility is to examine the information concerning BancoFicohsa’s Environmental Footprint in Honduras and report on it in the form of an independent conclusion of limited assurance based on the evidence obtained. In order to ensure that the verification process

1 Greenhouse Gas Protocol (GHG Protocol). A Corporate Accounting and Reporting Standard http://ghgprotocol.org/corporate-standard

complies with the ethical requirements necessary to ensure the independence of our work as auditors of non-financial information, our work was developed in accordance with the ISAE3000 Standard, Assurance Engagements other than Audits or Reviews of Historical Financial Information, issued by the International Auditing and Assurance Standard Board (IAASB) of the International Federation of Accountants (IFAC).

The procedures selected depend on our judgment, including the evaluation of risks of material error in the Environmental Footprint, due to fraud or error.

When carrying out these risk assessments, we have considered the relevant control for the preparation of the Environmental Footprint in order to design assurance procedures that are adequate in the circumstances, but not in order to express a conclusion regarding the effectiveness of Ficohsa’s internal control regarding the preparation of said document.

Our work also includes the evaluation of the appropriateness of the Main Issue, the suitability of the criteria used by Ficohsa in the preparation of the Environmental Footprint, in the circumstances of the work, evaluating the appropriateness of the methods and procedures used in the preparation of the Environmental Footprint., and the reasonableness of the estimates made by Ficohsa and evaluating the overall presentation of the Environmental Footprint. Limited security is less than absolute security. As part of this work, we have not carried out any procedure by way of an exhaustive audit, review or verification of the underlying records or other sources from which the Environmental Footprint was extracted.

Characteristics and limitations of the information corresponding to Ficohsa’s Environmental Footprint

Scope

The scope of the review is for the data corresponding to Banco Ficohsa’s operations in Honduras that comprise from January 1 to December 31, 2020.

Final values:
The final verified values ​​are as follow:

Criteria

The criteria on which the Environmental Footprint has been evaluated refer to the Voluntary Criteria.

Conclusion

Our conclusion has been formed based on and is subject to what is detailed in this report. We consider that the evidence we have obtained provides a sufficient and adequate basis for our conclusion.

In our opinion, Grupo Financiera Comercial, S.A.’s Management Environmental Footprint, for the period from January 1 to December 31, 2020, is prepared in all material aspects, in accordance with the principles established in the GHG Protocol. As a result of the information presented to Ficohsa, the corresponding adjustments were made to ensure the reliability of the information.

Restrictions on using our report and others

Our report should not be regarded as  suitable to be used or considered by any of the parties who wish to acquire rights towards us other than the area of ​​Social Responsibility of Ficohsa, for any purpose or any other context.

Any party other than Ficohsa’s Social Responsibility area that obtains access to our report or a copy of it and chooses to rely on our report (or any part of it) will do so at their own risk. To the extent permitted by law, we do not accept or assume any responsibility and deny any responsibility for our work to any party other than Ficohsa, for this independent limited security report or for the conclusions we have reached.

Our report is issued to Ficohsa on the understanding that this report should not be copied, made reference to, or disclosed in whole or in part without our prior written consent.

Finally, this report does not attempt to provide, does not provide and does not give any certification to Ficohsa regarding ISO (International Organization for Standardization) 14064, 14040, 14044 or regarding any other standard related to ISO.

Valora Sostenibilidad e Innovación S.A. de CV.

Luis Miguel Vilatela Riva 
General Director Valora Sostenibilidad e Innovación S.A. de C.V. Mexico City, May 25th, 2021