Our stakeholders

Clients: Clients are at the centre of UBS's activities. By living the values and ethical standards set by the 'Code of Business Conduct and Ethics', UBS strives to gain and maintain the trust of its clients. Regular contact with clients, client satisfaction surveys and the firm's Quality Feedback management system ensure that UBS understands their expectations. Collecting this feedback enables the firm to act and continuously improve products and client service standards in order to provide a superior Client Experience. In 2008, the firm maintained a highly active dialogue with clients to discuss their concerns.

Shareholders/Investors: UBS's senior management and Investor Relations function regularly communicate with the investment community to ensure accurate and timely dissemination of UBS financial results and latest developments. In 2008, the financial crisis and its implications for UBS going forward constituted the principal topic of the communication.

Employees: The skills and dedication of UBS's employees are fundamental to delivering superior solutions to the firm's clients. UBS encourages an active and open dialogue between its employees and senior management. Direct communication is regularly undertaken, and feedback and input sought, key examples being personal meetings, emails, employee surveys and the Quality Feedback system. In 2008, tens of thousands of employees world-wide attended town halls with senior management (or followed the proceedings on UBS TV) in order to be informed and discuss the course of the financial crisis and its impact on UBS.

Governments / Regulators: Financial market efficiency is largely dependent on the regulatory and political environment. UBS actively participates in political discussions that allow the firm to share its expertise and adapt early to regulatory changes, including also on CR-related issues. In 2008, the fallout of financial market dislocation and subsequent adjustment measures constituted the principal topic of the intense dialogue between UBS senior management and UBS specialized functions and political decision-makers and regulatory authorities.

Communities: UBS's performance strongly depends on its employees' skills and resources and the relationships the firm fosters with clients. It is, however, also important that the communities UBS does business in are both healthy and prospering. To contribute to the health of these communities, UBS engages with them in various ways, most notably via dedicated Community Affairs teams worldwide. These work closely with senior managers to build partnerships with organizations in the communities where UBS operates, focusing on education, regeneration and environmental projects.

Suppliers: As a major procurer of materials and services, UBS maintains many relations with suppliers and vendors worldwide and strives to adhere to high ethical standards whenever it interacts with these. In 2008, the firm introduced a Responsible Supply Chain Guideline; it provides guidance for appropriate supplier practices in the areas of human and labor rights, the environment and corruption and is the basis of a fair relationship and transparent arrangements with suppliers and external service providers.

International Organizations and initiatives: UBS is a member or participant in several organizations and initiatives that promote the advancement of corporate responsibility, including the United Nations Global Compact, the Global Reporting Initiative, the United Nations Environment Program Finance Initiative and the Carbon Disclosure Project. UBS representatives participate in meetings, events and conferences and use these platforms to exchange ideas, promote joint actions and gain valuable input for the development of our CR approach and strategy. In 2008, UBS has, for instance, again been an active participant in the UN Global Compact Swiss network.

Non-governmental organizations (NGOs): UBS communicates with NGOs and appreciates their input and insights as it helps the firm to consider its approach to and understanding of environmental and social issues and concerns. In 2008, UBS participated in a number of meetings with NGO representatives though the overall level of direct dialogue activities was lower than in previous years.

Peers: UBS actively engages in regular discussions on corporate responsibility and related issues with specialists in peer banks (and more widely via trade bodies and associations such as the Swiss Banking Association). Their experiences and assessments of CR-issues help UBS to compare and improve its own strategy, approaches and tools.

Media: UBS conducts an active and consistent dialogue with media in all its major locations worldwide. The firm's media teams provide timely information on a wide range of global, regional and local topics of relevance to UBS. Senior management also regularly gives account to journalists, predominantly via interviews (around 250 globally in 2008).

Rating agencies: UBS actively engages in a dialogue with analysts in rating agencies. With regard to the firm's sustainability performance, the evaluation of specialized agencies helps UBS to evaluate its current strategy and activities and provides a useful means for benchmarking.