Environmental and human rights governance
The Group Executive Board is responsible for UBS's environmental policy and nominates a Group Environmental Representative, who is UBS's senior level representative for environmental issues.
This function is currently held by Philip Lofts, the Group Chief Risk Officer.
In 2011, the Global Environmental & Social Risk Committee was established to address transactional and policy matters relating to environmental and social (including human rights) risks and associated reputational risks. The Committee is chaired by the Group Environmental Representative and includes five Group Executive Board members. Operational execution of UBS's environmental policy and of the UBS statement on human rights continues to be overseen by the Environmental & Human Rights Committee, which consists of senior Environmental Representatives drawn from each business division.
Both committees are supported by the Environmental & Social Risk unit within Group Risk Control which acts as Secretary and oversees the independent control of environmental and human rights risks. The Divisional Environmental Representatives are supported by Program Managers who oversee day-to-day execution and performance.
Regarding day-to-day execution, the business divisions are responsible for implementing the environmental policy's principles on risk management and business opportunities, while the Corporate Center is responsible for managing UBS's impact on the environment from its in-house operations and supply chain.
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