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In-house ecology
UBS directly impacts the environment in a number of ways: its businesses consume electricity; employees travel for business purposes and use paper and generate waste in the course of their work; and offices require heating and cooling systems.
The chart below shows that energy is the biggest contributor to UBS's overall CO2 and environmental footprint.
Improving the use of these resources can reduce costs and enhance environmental performance and UBS therefore has therefore set firm-wide targets and implements a series of measures to efficiently manage its environmental impact.
Climate change: 2012 CO2 emission reduction target
The Group Executive Board decided in February 2006 to set a groupwide CO2 emission reduction target of 40% below 2004 levels by 2012
UBS seeks to achieve this target by implementing:
in-house energy efficiency measures that reduce energy consumption in buildings it operates
increasing the proportion of renewable energy to avoid emissions at source
offsetting and neutralizing emissions that cannot be reduced by other means
In 2008 these measures allowed UBS to decrease its CO2 emissions by 6% compared with 2007, or 27% compared with 2004, another step toward achieving the 40% reduction target by 2012. UBS also increased the share of renewable energy it purchases from 45% in 2007, to 48% in 2008.
Top2009 Paper and waste targets
Paper and waste are among the most visible environmental impacts of UBS's in-house operations. Addressing them also helps to encourage staff engagement in UBS's overall environmental program. UBS has therefore set firm-wide targets for paper and waste.
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In 2008 UBS made steady progress towards achieving paper targets: paper use by employee decreased from 190 kg in 2007, to 167 kg in 2008, thereby exceeding the 2009 target. The share of recycled paper increased from 10.5% in 2007, to 16.2% in 2008 (target 20% in 2009). Finally, FSC paper increased from 10.7% in 2007 to 16.6% of total paper use. At the same time, the waste targets are proving to be challenging in certain regions as they heavily rely on behavioral changes rather than technical measures or processes. Waste per employee decreased to 298 kg, but is still significantly above target value of 273 kg per employee. The waste recycling ratio decreased again from 56% in 2007 to 55% (target: 70% in 2009). UBS will continue to provide education on environmental matters to its employees, helping them make the right choices and promote sustainable behavior both at work and at home.
Engaging our employees
Employee engagement has long been recognised as one of the most challenging components within the UBS Environmental program. By providing education and awareness on environmental matters to its employees and suppliers, we hope to help people make the right choices and promote sustainable behaviour both at work and in their domestic situations. In 2008 UBS provided training and awareness raising to 5232 employees.
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