Our Code of Business Conduct & Ethics contains clear commitments to key corporate responsibility issues.

We have a Corporate Responsibility Committee (CRC) which supports the Board of Directors in its efforts to ensure and advance UBS's reputation for responsible corporate conduct. The CRC is advised by a panel consisting of members of the Group Executive Board and other senior managers.

We have a Global Environmental & Social Risk Committee at Group Executive Board (GEB) level which addresses transactional and policy matters relating to environmental and social (including human rights) risks and associated reputational risks.

We have a Global Community Affairs Steering Committee at GEB-level which sets the overall strategic direction and aims of our community affairs. Furthermore, the Committee is ultimately responsible for deciding on our response to worldwide disasters.

We have an anti-corruption initiative in place to strengthen our defenses against corruption involving the firm.

We adopted our first environmental policy in 1993 and our Statement on Human Rights in 2006.

We accomplished our climate change strategy set in 2006 (reducing our Group-wide CO2 emissions by 40% below 2004 levels by 2012). We have renewed our climate change strategy and are determined to prepare our clients for success in an increasingly carbon-constrained world.

We introduced a Responsible Supply Chain Standard in 2008. All our significant active suppliers were screened for existing environmental and human rights issues in 2012.

We were among the first companies to sign the UN Global Compact (in 2000). We are an active member of the Global Compact Swiss Local Network.

We were a founding member in 2000 of the Wolfsberg Group, an association of 11 global banks, which aims to develop financial services industry standards and related products for Know-Your-Customer, AML and Counter Terrorist Financing policies.

We convened the Thun Group of banks in 2011, an initiative to interpret the UN Guiding Principles on business and human rights with reference to a particular industry sector. The Group has drafted a discussion document setting out the challenges and best practice examples of operationalizing the Guiding Principles in universal banks.

We were one of the first signatories in 1992 to the United Nations Environment Program's Bank Declaration (UNEP FI).

Our Global Asset Management is an Investment Manager signatory to the UN Principles for Responsible Investment (a global investor initiative, partnering with the UNEP FI and the UN Global Compact, designed to provide a framework for better integration of ESG into mainstream investment practice) since 2009.

We are a partner of the Smith School of Enterprise and the Environment at Oxford University since 2011.

We engaged with various initiatives and partners in 2012 to develop and, where appropriate, enhance our standards. We joined various organizations focused on topics of major relevance to society and to UBS, including the Roundtable on Sustainable Palm Oil, the European Venture Philanthropy Association and the World Demographic & Ageing Forum.

We have a global and diverse workforce. We have nearly 900 offices in 56 countries, and our employees are citizens of 145 countries.

We have successfully assured our sustainability disclosure. The assurance is based on the GRI (Global Reporting Initiative). Since 2008, we have continuously achieved GRI A+ level for our sustainability reporting.

We are ranked one of the top 10 companies (and the leading bank) worldwide in the 2012 Carbon Disclosure Project. We are a member of the FTSE4Good Index series since their inception.

We are included in the Carbon Performance Leadership Index and in the Carbon Disclosure Leadership Index and are thus among the few financial sector companies represented in both Carbon Disclosure Project indices.

We continue to strengthen the implementation of key policies and standards, including our Position on Controversial Activities. In doing so, we are able to draw from an industry-leading environmental and social risk screening process.

We have established a leading position in values-based investing and providing environmental, social and governance research.

We have developed a prototype UBS Sustainability Health Check which highlights any discrepancies between clients’ sustainability preferences and the actual composition of their portfolio.

Our Investment Bank has rolled out globally the ESG Analyzer. It identifies top-positioned stocks for sustainability themes and identifies ESG issues in more than 30 sectors and across close to 500 stocks.

Our total invested assets in Sustainable & Responsible Investments (SRI) / Values-Based Investing (VBI) were CHF 253.73 billion, representing 11.38% of our total invested assets (as of 31 December 2012).

Our global Renewable Energy and Cleantech Group (RE&CT) provides capital raising and strategic advisory services to renewable energy and cleantech companies. In 2012, RE&CT raised approximately USD 5.7 billion from 12 transactions, further establishing RE&CT as one of the leading clean technology practices globally.

Our private clients in Switzerland benefit from the UBS “eco” Mortgage when building energy-efficient homes and a cash benefit when renovating their homes sustainably.

We are incentivizing Swiss SMEs to save energy by offering the “Energy check-up for SMEs” in partnership with the Swiss Energy Agency.

We launched UBS Clean Energy Infrastructure Switzerland at the end of 2012, offering institutional investors unprecedented access to a diversified portfolio of Swiss infrastructure facilities and companies in the field of renewable energies and energy efficiency.

We have reviewed and amended our approach to controversial weapons in order to comply with the Swiss law that came into effect on 1 February 2013.

We were the first bank to obtain ISO 14001 certification for our worldwide environmental management system in banking business (in 1999). In 2012, UBS successfully passed its ISO 14001 surveillance audit.

We continue to successfully build on a long heritage of managing our internal environmental impact. In 2012, 42% of our energy consumption came from renewable energy and district heating. The share of office paper from Forest Stewardship Council or recycled sources increased to 56% in 2012.

We were named the leading brokerage firm for renewable energy research in the 10th annual Thomson Reuters Extel/UKSIF Socially Responsible Investing & Sustainability Survey. Our head of global sustainability research in the Investment Bank was honored as the leading brokerage individual for thematic research.

We made direct cash donations totaling CHF 27.5 million to carefully selected nonprofit partner organizations and charities.

We launched a major education initiative in Switzerland, consisting of six sub-projects centering on the UBS International Center of Economics in Society at the University of Zurich. In 2012, spending on this initiative amounted to CHF 16.7 million.

We encourage the volunteering activities of our employees. We implemented an Employee Recognition Award, recognizing 150 UBS employees or teams of employees for their outstanding community involvement. In 2012, 12,563 employees spent 110,065 hours volunteering.

We maintain 21 employee networks across UBS with more than 14,000 members.

Our employees can access a broad range of professional development training. In 2012, our employees participated in a total of 599,763 development activities, averaging 9.6 training experiences per employee (FTE), which equates to an average investment of 2.1 training days.

We received various accolades for our corporate responsibility activities. In the UK, UBS was given the 25th Anniversary Lord Mayor of London’s Dragon Award in recognition of the achievements of our community affairs program in London. We were ranked third in Lundquist’s CSR Online Awards Switzerland 2012, maintaining our top three ranking.

Our UBS Optimus Foundation published in 2012 the most comprehensive research study ever conducted in Switzerland into the extent of sexual assault on children and adolescents.

In 2012, we continued to support our clients in understanding key societal opportunities and challenges and acted as a trusted financial advisor on sustainability issues. We did so by expanding our comprehensive range of sustainability products and services, including impact investing, sustainable real estate funds, socially responsible investment products, advisory on sustainability challenges.

We have established a leading position in values-based investing and providing environmental, social and governance (ESG) research. In 2012, we demonstrated this, for example, through the global roll-out of our Investment Bank's ESG Analyzer and through the honors we received in the annual Thomson Reuters Extel/UKSIF Socially Responsible Investing & Sustainability survey. Our firm's efforts also received external recognition in the S&P Carbon Disclosure Project report.

We apply a robust framework to manage environmental and social risk in our businesses. In 2012, we continued to strengthen the implementation of key policies and standards, including our Position on Controversial Activities, supported by a sustained roll-out of training and awareness-raising activities for client-facing staff. In doing so, we were able to draw from an industry-leading environmental and social risk screening process, which we established through a successful collaboration between our risk and compliance functions in 2011.

Our compliance function is a significant contributor to ensuring that our corporate responsibility commitments are met and plays a key role in protecting our firm from reputational, business or financial damage. At the same time, it makes a valuable and significant contribution to the fight against financial crime, in particular by deploying our global sanctions, anti-money laundering and anti-bribery programs to deny rogue states, suspected criminals and terrorists access to the financial system via UBS or its products and services. A comprehensive legal and compliance risk assessment in 2011 did not identify any significant incidents of non-compliance with our anti-corruption policy and other regulations related to anti-corruption. Nonetheless, in 2012 an anti-corruption initiative was put in place to strengthen our defenses against corruption involving the firm.

Our environmental and social risk management and our global sanctions anti-money laundering and anti-bribery programs are important examples of the need for effective outreach and internal collaboration between our business divisions and external collaboration with our stakeholder community. In 2012, we once again demonstrated our commitment to engaging with various initiatives and partners to develop and, where appropriate, enhance our standards. We joined the Roundtable on Sustainable Palm Oil as part of its "Banks & Investors" membership category. We also joined other organizations focused on topics of major relevance to society, including the European Venture Philanthropy Association and the World Demographic & Ageing Forum. We are among the thought leaders in corporate responsibility in banking and participate actively in key international corporate responsibility initiatives. These include the Wolfsberg Group (on anti-money laundering), the UN Principles for Responsible Investment (on responsible investing), the UN Global Compact; and the UN Environment Program (UNEP) Finance Initiative.

Our long-standing involvement in the UNEP Finance Initiative reflects our commitment to managing our environmental footprint. Our worldwide environmental management system covers in-house operations, risk management and products and services. In 2012, UBS successfully passed its ISO 14001 surveillance audit. We accomplished our Group-wide CO2 emission reduction target of 40% below 2004 levels, as originally decided by the GEB in February 2006. In addition, we renewed our climate change strategy and are determined to prepare our clients for success in an increasingly carbon-constrained world.