Information center

Our approach

Reporting

GRI G4 materiality assessment

For the GRI G4 materiality assessment the GRI indicators were mapped with the materiality matrix and rated material/immaterial (decision factors were: significance to stakeholders and impact on sustainable performance). We have identified the following material aspects: 

Economic Performance
Indirect Economic Impacts
Materials
Energy
Emissions
Effluents and Waste
Transport
Supplier Environmental Assessment
Employment
Labor/Management Relations
Occupational Health and Safety
Training and Education
Diversity and Equal Opportunities
Equal Remuneration for Women and Men
Supplier Assessment for Labor Practices
Labor Practice Grievance Mechanisms

Non-Discrimination
Supplier Human Rights Assessment
Anti-Corruption
Public Policy
Anti-competitive Behavior
Compliance
Supplier Assessment for Impacts on Society
Grievance Mechanisms for Impacts on Society
Product and Service Labeling
Marketing Communications
Customer Privacy
Product Portfolio
Audit
Active Ownership 

All material aspects are relevant to all entities consolidated within UBS. Information describing any relevant impacts of the aspects outside UBS is provided as part of the description of the respective GRI indicator/aspects. 

Corporate Responsibility reports 

Archive

 

Corporate responsibility

Environmental reports

Our employees

CR online report

2012 PDF (PDF, 613 KB)   PDF (PDF, 560 KB) PDF (PDF, 12 MB)
2011 PDF (PDF, 455 KB)   PDF (PDF, 372 KB) PDF (PDF, 3 MB)
2010 PDF (PDF, 3 MB)   PDF (PDF, 367 KB) PDF (PDF, 3 MB)

2009

PDF (PDF, 936 KB)

 

PDF (PDF, 657 KB)

PDF (PDF, 8 MB)

2008

PDF (PDF, 333 KB)

 

PDF (PDF, 86 KB)

PDF (PDF, 7 MB)

2007

PDF (PDF, 578 KB)

PDF (PDF, 1 MB)

PDF (PDF, 242 KB)

 

2006

PDF (PDF, 640 KB)

PDF (PDF, 1 MB)

PDF (PDF, 156 KB)

 

2005

PDF (PDF, 1 MB)

PDF (PDF, 2 MB)

PDF (PDF, 79 KB)

 

2004

PDF (PDF, 122 KB)

PDF (PDF, 3 MB)

 

 

2003

PDF (PDF, 39 KB)

PDF (PDF, 2 MB) PDF (PDF, 319 KB)

 

 

2002

PDF (PDF, 78 KB)

PDF (PDF, 485 KB)

 

 

2001

PDF (PDF, 78 KB)

PDF (PDF, 56 KB)

 

 

2000

 

PDF (PDF, 145 KB)

 

 

1999/2000

 

PDF (PDF, 287 KB)

 

 

1998/1999

 

PDF (PDF, 423 KB)

 

 

UBS acknowledges that climate change represents one of the most significant environmental challenges of our time.

Submission to CDP

UBS is a founding member of the CDP (formerly known as Carbon Disclosure Project) that encourages organizations to measure, manage and reduce emissions and climate change impacts. The CDP issues annual climate change Information Requests on behalf of institutional investors to almost 6,000 corporations across the globe. UBS also annually responds to the questionnaire.

UBS is globally certified according to the international environmental management standard ISO 14001

In 1999, UBS was the first bank to obtain ISO 14001 certification for its worldwide environmental management system. The management system covers the entire scope of UBS's products, services and in-house operations which may give rise to an environmental impact. It is audited annually and re-certified every three years by Société Générale de Surveillance (SGS).

These comprehensive audits verify that appropriate policies and processes are in place to manage environmental issues, and that they are executed in day-to-day practice.

In September 2013, UBS successfully passed the ISO 14001 surveillance audit of its Environmental Management System.

    For the year ended %change from
Full-time equivalent, except where indicated GRI 1 31.12.13 31.12.12 31.12.11 31.12.12
Personnel financial businesses  

60'205

62'628 64,820 (4)
Personnel in specialized environmental units/functions  

34

31 31 14
Environmental awareness raising  

 

     
Employees trained FS4

7,136

3,548 15,693 101
Specialized environmental training  

 

     
Employees trained FS4

2,135

966 3,677 121
External environmental audits2  

 

     
Employees audited FS9

58

63 182 (8)
Auditing time (days) FS9

11

11 22 5
Internal environmental audits3  

 

     
Employees audited FS9

160

249 181 (36)
Auditing time (days) FS9

47

51 28 (8)

1 Global Reporting Initiative (see also www.globalreporting.org). FS stands for the Environmental Performance Indicators defined in the GRI Financial Services Sector Supplement.

2 Audits carried out by SGS Société Générale de Surveillance SA. Surveillance audits took place in 2012 and 2013. The more comprehensive Re-Certification Audit was done in 2011.

3 Audits / reviews carried out by specialized environmental units. The implementation of Environmental and Social Risk Policies is also audited by Group Internal Audit.

UBS commitments

UN Global Compact

In 2000, UBS became one of the first companies to sign the United Nations (UN) Global Compact. This global corporate responsibility initiative unites governments, business, labor organizations and civil society, fostering adherence to 10 principles covering the areas of human rights, labor standards, the environment and anti-corruption.

UNEP Finance Initiative

In 1992, we were one of the first signatories to the United Nations Environment Program's Bank Declaration.

Wolfsberg Group - preventing money laundering

We remain strongly committed to promoting stringent anti-money laundering standards for the financial industry as a whole. As a prime example of this, UBS was one of the driving forces behind the launch of the Wolfsberg Group and its issuance of global anti-money laundering principles in 2000.

UNPRI

UBS Global Asset Management is an Investment Manager signatory to the Principles for Responsible Investment (PRI). This global investor initiative, in partnership with the UNEP Finance Initiative and the UN Global Compact, is designed to provide a framework for better integration of ESG issues into mainstream investment practice.

The Thun Group is an informal group of bank representatives, with the name derived from the location (the UBS conference center in the Swiss city of Thun) where the group meets to share experiences and ideas regarding the implementation of the UN’s Guiding Principles on Business and Human Rights.

Further commitments

UBS is a member of further organizations that promote corporate responsibility and is actively engaged in their activities.

UBS is a member of the Association for Sustainable & Responsible Investment in Asia (ASrIA), a not for profit, membership association dedicated to promoting corporate responsibility and sustainable investment practice in the Asia Pacific region. ASrIA's goal is to build market capacity for SRI providing insightful, up to date and accessible information on the development of Socially Responsible Investments (SRI) in Asia and elsewhere around the world. It is also a platform for different sectors within the community to exchange and dissipate information and perspectives on SRI.

UBS is a founding member of Business in the Community, a unique movement of companies across the UK committed to continually improving their positive impact on society.

The Conference Board creates and disseminates knowledge about management and the marketplace to help businesses strengthen their performance and better serve society. UBS participates in a number of Councils that are relevant for its corporate responsibility strategy, such as The Council of Diversity Executives.

UBS is a Strategic Partner of CSR Asia, the leading provider of information, training, research and consultancy services on sustainable business practices in Asia.

UBS is founding member of the European Sustainable and Responsible Investment Forum (Eurosif). Eurosif was created in 2001 to serve as an umbrella association to cover socially responsible investment issues at the European level. Eurosif members are made up of the national Social Investment Forums (SIFs) and include SIFs from Belgium, France, Germany, Italy, the Netherlands and the UK.

The European Venture Philanthropy Association (EVPA) is a membership association made up of organizations interested in or practicing venture philanthropy across Europe. Established in 2004, the association is a unique network of venture philanthropy organizations and others committed to promoting high-engagement grant making and impact investment in Europe. UBS has been a member since 2007 and has co-hosted multiple events together with EPVA.  EVPA has expanded to Asia and opened in 2009 its Asian operations Asian Venture Philanthropy Association (AVPA), with whom UBS is equally working together with closely.

UBS is a member of the Global Apprenticeships Network (GAN). A business-driven alliance with the overarching goal of promoting apprenticeships and other forms of work-based learning programs as a means to avoid skills mismatch and youth unemployment, GAN seeks to build on local traditions, but with an eye to the future needs of business. It was created in 2013 following an initiative of the International Organisation of Employers and the Business and Industry Advisory Committee, and with the support of the International Labour Organization.

The Global Impact Investing Network (GIIN) is the practitioners' umbrella organization. The GIIN is a nonprofit organization dedicated to increasing the scale and effectiveness of impact investing. Impact investments are investments made into companies, organizations, and funds with the intention to generate measurable social and environmental impact alongside a financial return. They can be made in both emerging and developed markets, and target a range of returns from below market to market rate, depending upon the circumstances. The GIIN addresses systemic barriers to effective impact investing by building critical infrastructure and developing activities, education, and research that attract more investment capital to poverty alleviation and environmental solutions. UBS is an Investor Council member since 2011.

The Institute of Business Ethics (IBE) was established in 1986 by business to encourage high standards of business behavior based on ethical values. Today it leads the dissemination of knowledge and good practice in business ethics globally.

IBE raises public awareness of the importance of doing business ethically, and collaborates with other UK and international organizations with interests and expertise in business ethics. The institute also helps organizations to strengthen their ethics culture by hosting events, running training courses, publishing relevant materials and providing an information web service.

UBS was one of the first subscribers to the Institute, and continues to support it to this day.

UBS is a donor of oikos foundation, a part of the international oikos student organisation for sustainable economics and management and a leading reference point for the promotion of sustainability change agents. oikos strengthens action competence for sustainable development among the decision makers of tomorrow'by increasing awareness of sustainability opportunities and challenges. It focuses on management and economics students with the objective of fostering their ability not only to analyze long-term economic, environmental and social trends, but also to implement sustainability driven innovation. It creates institutional support for these learning processes through the integration of sustainability issues in research and teaching at the world’s faculties for management and economics.

The Roundtable on Sustainable Palm Oil (RSPO) was formed in 2004 with the objective of promoting the growth and use of sustainable palm oil products through credible global standards and engagement of stakeholders. RSPO has more than 1000 members from over 50 countries across the palm oil supply chain, including banks and investors. UBS is a member of the RSPO since September 2012.

In January 2011, UBS joined the Partnership Board of the Smith School of Enterprise and the Environment at Oxford University.

The Smith School is a world-class interactive, interdisciplinary research hub which forms part of the University of Oxford. Founded in 2008, the school draws together the best academic minds from around the world to advance partnership between public and private enterprise, finding the most effective solutions to issues such as energy supply, water shortage, food security and climate change.

Sustainable Finance Geneva (SFG) is an association of Geneva-based professionals and investors with a common interest in promoting sustainable finance and responsible investment. SFG believes that the inclusion of extra-financial criteria in decision-making processes is necessary to deal efficiently with current global challenges. They have come together to accelerate progress, share their knowledge and form an international movement for action in sustainable finance and responsible investment. SFG members are involved in a wide range of activities such as Socially Responsible Investing (SRI), Environment, Social & Governance (ESG) research, data and ratings, microfinance, philanthropy, corporate social responsibility and social entrepreneurship. UBS is a member since 2012.

The Association for Environmental Management and Sustainability in Financial Institutions (VfU), founded in 1994, supports the development and application of sector specific strategies and instruments in environmental management.

UBS was active in the formulation and subsequent reviews of the 1996 VfU environmental reporting guidelines for financial service providers. UBS's set of indicators for in-house environmental management is based on the latest version of the VfU Indicators Protocol.

UBS hosted the annual VfU / UNEP FI sustainability roundtable in 2010 and is a member of the organization's board.

The World Demographic & Ageing Forum (WDA) is the leading international, inter-generational and interdisciplinary platform for a worldwide discussion and coordination of efforts and activities concerning demographic change & ageing. It addresses these topics with stakeholders from business, academia, politics, influential NGOs, and civil society and it disseminates findings and recommendations to the public policy dialogue and a wider general public. UBS became a member of the Forum in 2012.

Zurich Energy Model

The Zurich Energy Model is a capacity building project established in 1987 by twelve major energy consumers - among them UBS - in the city of Zurich. The objective of the firms involved in the Zurich Energy Model is a joint increase in energy efficiency, to optimize investments and corporate costs, and to communicate innovative solutions to the general public. In 2005, the group agreed with canton Zurich to set a target of increasing energy efficiency by 16.5% until 2012. In 2007, UBS was awarded the Zurich Energy Model trophy for its achievements and successes in the field of energy efficiency and energy management.

Ratings & awards

CDP

The CDP (formerly known as Carbon Disclosure Project) is an independent not-for-profit organization, which by its own account today represents a group of 722 institutional investors, representing a total investment volume of 87 trillion US dollars (as of January 2014). The audit firm PricewaterhouseCoopers annually evaluates the 500 largest listed companies for CDP. The evaluation criteria include greenhouse gas emissions, data quality and transparency. Awareness of the risks and opportunities of climate change for the company itself are also examined. We were among the top 20 financial institutions in the CDP Global 500 Climate Change Report 2013 and were included in the Climate Disclosure Leadership Index (CDLI) DACH. CDLI DACH 2013 includes the 10% highest Disclosure Scores of scored companies in the DACH region (Germany, Austria, Switzerland).

UBS again met the FTSE4Good criteria designed to identify companies that are compliant with globally recognized corporate responsibility standards. As a continued index component for the FTSE4Good Index, we have been included since its inception in 2001. FTSE4Good measures the performance of global companies in the areas of environmental sustainability, stakeholder relations and support for human rights. 

oekom research AG is one of the world's leading sustainability rating agencies and has actively helped to shape the market for sustainable investments since 1993. oekom research has awarded UBS corporate responsibility prime status which, according to the oekom Corporate Rating, signifies companies which are among the leaders in their industry and which meet industry-specific minimum requirements.

The Dow Jones Sustainability Indexes (DJSI) track the social, environmental and financial performance of companies in the Dow Jones Global Index. In 2013, UBS re-entered the DJSI from which we had been removed in 2012, as our score had been just below the raised benchmark. This followed continuous inclusion in the DJSI since their launch in 1999. At the time, the DJSI were the first global indices to track the financial performance of the leading sustainability-driven companies worldwide. The DJSI follow a best-in-class approach and include companies from across all industries that outperform their peers in numerous sustainability metrics. 

We received several honors in the 11th annual Thomson Reuters Extel/UKSIF Socially Responsible Investing (SRI) & Sustainability Survey of over 500 investment professionals from 27 countries. The UBS Investment Bank ESG & Sustainability Team was ranked third overall for ESG and SRI, including second for Corporate Governance and for Renewable Energy, fourth for Climate Change and for Thematic Research, and fifth for SRI Research.

Six of Global Asset Management’s real estate funds, with CHF 20 billion gross assets under management, obtained the top ranking ("green star"), and two of them were awarded "sector leader" status, by the 2013 Global Real Estate Sustainability Benchmark, thus recognizing our efforts in defining and implementing a sustainable and responsible property investment strategy (RPI). All six funds rank within the first and second quartiles of their respective peer set (among more than 540 real estate portfolios)..

UBS in the UK was recognized with a Business in the Community 2013 Responsible Business Award for its volunteering program while UBS Singapore’s Diversity in Abilities arts program, targeted at bringing visual and performing arts to children in special education, was awarded Singapore’s National Arts Council Patron of the Arts Award 2013.

Policies and guidelines

The "Code of Business Conduct and Ethics of UBS" sets out the principles and practices that UBS expects all of its employees and directors to follow unreservedly both in letter and in spirit. The principles and standards set out in the Code should characterize all of UBS's business activities and all its dealings with the firm's stakeholders including clients, colleagues, shareholders, regulators and business partners. It is the basis for all UBS policies, guidelines and statements relating to each of the firm's employees' personal commitment to appropriate and responsible corporate behavior.

UBS provides equal employment and advancement opportunities for all individuals regardless of race/ethnicity, gender, national origin, age, disability, sexual orientation, or religion. This non-discrimination policy applies to the entire employment process, including recruiting, hiring, placement, promotion, transfers, compensation, training, and termination. In addition, UBS complies with and supports all national and local laws pertaining to non-discrimination and advancement opportunity.

Environmental and human rights policy

UBS is committed to acting in a responsible manner in all its business dealings and to promote sustainable business activities. The environmental and human rights policy defines principles and responsibilities for managing environmental and human rights issues It was established in 1993 endorsed by the Group Executive Board and was last revised in 2013.

UBS is committed to assisting in the fight against money laundering, corruption and terrorist financing. This is illustrated by the way we take responsibility in our own operations, aiming to help preserve the integrity of our the financial system. 

UBS is committed to identifying and managing or avoiding potential conflicts of interest in its business. This is enshrined in our Code of Business Conduct & Ethics. The firm has established guiding principles outlining its approach to properly identifying and managing conflicts of interest. In addition, various other policies address situations in which a conflict of interest might potentially arise, such as personal account dealing, or the providing and receiving of gifts. UBS's Investment Bank also has specific conflict of interest policies for its research activities. 

UBS is committed to conducting its business lawfully and ethically. The firm has a Whistleblowing Policy and established procedures for dealing with genuine concerns staff may have about suspected ethical breaches or misconduct within the firm. Both the Whistleblowing Policy and the Code of Business Conduct and Ethics encourage staff to report promptly any concerns. UBS does not allow retaliation for reports of misconduct by others made in good faith. All staff have easy access to anonymized, free, internal or external mechanisms for submitting whistleblowing reports. All concerns raised are taken seriously and investigated fully and promptly. 

A guideline is in place which sets out UBS's community affairs activities and intends to ensure a unified approach to community affairs globally. It outlines responsibilities, focus areas, the scope of the programs as well as minimal criteria applicable to all community affairs activities and any financial contributions to charities and non-profit organizations made by UBS. 

UBS adheres to the highest standards of information security. It meets legal and regulatory requirements related to information security, satisfying the obligations it has to clients, employees and shareholders. 

Other information 

1954

Beginnings of Community Affairs at Wealth Management US

1962

Establishment of Union Bank of Switzerland's 100th anniversary foundation (since 1999: UBS Culture Foundation)

1971

Launch of "A Helping Hand from UBS Employees" (UBS Mitarbeiter helfen) in Switzerland

1972

Establishment of Swiss Bank Corporation's 100th anniversary foundation (since 1999: UBS Foundation for Social Issues and Education)

1978

Beginnings of Community Affairs in EMEA
Establishment of first energy functional unit

1982

Co-founder member of Business in the Community in the UK

1988

First bank in Switzerland with the position of environmental officer

1989

First formal energy guidelines

1992

Among the first signatories of the UNEP bank declaration (UNEP FI)
Start of an award-winning school partnership with Deptford Green School in the UK

1993

Introduction of first Environmental Policy

1994

Publication of first environmental report and introduction of environmental credit assessment procedure for Swiss corporate clients

1995

Introduction of employee volunteering at Wealth Management US and of matched-giving scheme for London employees

1996

Launch of first cohesive and branded Community Affairs programme, "Tomorrow's Adults"

1997

Launch of Socially Responsible Investment (SRI) Funds "Eco-Performance-Portfolio"
Establishment of IB Community Affairs in Stamford (monetary and in-kind donations, and employee volunteering).

1998

Merger of Union Bank of Switzerland and Swiss Bank Corporation to create UBS

1999

Founding member of Wolfsberg Group
First bank to obtain ISO 14001 certification for worldwide environmental management system in banking business and launch of Environmental Risk Policy in IB
Establishment of UBS Optimus Foundation

2000

UBS among first 38 companies to sign UN Global Compact
Wolfsberg Group Anti-Money Laundering (AML) Principles for Private Banking (revised 2002)
UBS commences reporting on corporate responsibility in Annual Report

2001

Establishment of Corporate Responsibility Committee (CRC), a Board of Directors committee, and publication of first Corporate Responsibility section in Annual Report
Establishment of a Global Diversity Steering Committee within the Investment Bank
Founding member of European Social Investment Forum (Eurosif)
Wolfsberg Group Commitment against Terrorism
Employee volunteering time off policy introduced for London employees

2002

Wolfsberg Group Statement on Fight against Financing of Terrorism and AML Principles for Correspondent Banking
Launch of group-wide Diversity initiative
Founding signatory of Carbon Disclosure Project (CDP)
Commencement of joint WM and IB Community Affairs programme in Chicago
Expansion of in-house ecology programme to Corporate Services outside Switzerland

2003

Institution of NGO communications & analysis function
First financial services firm to formally register interest as an Academy sponsor in the UK (leads to the opening of the The Bridge Academy, Hackney, in 2007)

2004

Establishment of SRI Equity Research in Investment Bank

2005

Establishment of coordination function for Community Affairs in Switzerland
Setting up of UBS Tsunami Relief Fund
UBS commences social reporting in Annual Report (section on employees)

2006

Introduction of Climate Change Strategy
Adoption of UBS Statement on Human Rights
Wolfsberg Group releases Investment Banking FAQs, Guidance for Mutual Funds and Pooled Vehicles, Correspondent Banking FAQs, and Guidance on the Risk Based Approach

2007

Establishment of SRI Research in Global WMBB
Wolfsberg Group Statement against Corruption and Wolfsberg Group Statement on Transparency in International Payments
First company-wide volunteering at Wealth Management US

2008

Introduction of group-wide Responsible Supply Chain Guideline
Wolfsberg Group Revised PEP FAQs

2009

UBS's Sustainability Disclosure 2008 meets the requirements of level A+ of the GRI
UBS Global Asset Management becomes a signatory to the UN Principles for Responsible Investment

2010

UBS's Sustainability Disclosure 2009 meets the requirements of level A+ of the GRI

2011 UBS's Sustainability Disclosure 2010 meets the requirements of level A+ of the GRI
2012 UBS's Sustainability Disclosure 2011 meets the requirements of level A+ of the GRI

Our operations

In-house environmental management

Statistics

Environmental targets and performance in our operations
  GRI2 2013 Target 2016 Baseline % change from baseline Progress / 2012 2011
Achievement 7
Total net greenhouse gas emissions (GHG footprint) in t carbon equivalents 4 EN15-17 183,011 -50% 360501 5 -49.2 On track 215,279 220,593
Energy consumption in GWh EN3 737 -10% 761 6 -3.2 On track 761 827
Share of renewable energy EN3 49% increase 24%5 104.2 On track 42% 45%
GHG offsetting (business air travel) in t carbon equivalents
EN18 72,612 100% 0 5 100 On track 73,024 88,867
Paper consumption in kg per FTE 8 EN1 121 -5% 122 6 -1.1 On track 122 122
Share of recycled and FSC paper EN2 57.60% 60% 55.8% 6 3.1 On track 55.80% 44.30%
Waste in kg per FTE 8 EN23 213 -5% 230 6 -7.8 On track 230 242
Waste recycling ratio EN23 55.60% 60% 54.2% 6 2.5 Behind schedule 54.20% 54.20%
Water consumption in m m3 EN8 1.77 -5% 1.95 6 -9.1 On track 1.95 2

Legend: CO 2e = carbon equivalents; FTE = full-time employee; GWh = giga watt hour; kWh = kilo watt hour; km = kilometer; kg = kilogram; m m3 = million cubic meter; t = tonne

1 Detailed environmental indicators are available on the internet www.ubs.com/environment. Reporting period 2013 (1 July 2012 - 30 June 2013).
2 Related to Global Reporting Initiative (see also www.globalreporting.org). EN stands for the environmental performance indicators as defined in the GRI.
3 Gross GHG emissions include: direct GHG emissions by UBS; indirect GHG emissions associated with the generation of imported / purchased electricity (grid average emission factor), heat or steam and other indirect GHG emissions associated with business travel, paper consumption and waste disposal.
4 GHG footprint equals gross GHG emissions minus GHG reductions from renewable energy and GHG offsets.
5 Baseline year 2004
6 Baseline year 2012
7 FTEs are calculated on an average basis including contractors.

Environmental indicators1
    20132     20122 20112
  GRI3 Absolute normalized4 Data quality5 Trend6 Absolute normalized4 Absolute normalized4
Total direct and intermediate energy consumption7   737 GWh *** Stable 761 GWh 827 GWh
Total direct energy consumption8 EN3 119 GWh ** Low increasing 112 GWh 128 GWh
natural gas   77.7% ** Stable 84.8% 84.2%
heating oil   16.3% *** Increasing 12.3% 13.1%
fuels (petrol, diesel, gas)   5.9% *** Increasing 2.9% 2.6%
renewable energy (solar power, etc.)   0.10% *** Increasing 0.03% 0.03%
Total intermediate energy purchased9 EN3 618 GWh *** Stable 649 GWh 699 GWh
electricity from gas-fired power stations   15.1% ** Decreasing 19.3% 18.1%
electricity from oil-fired power stations   2.4% *** Stable 2.4% 2.3%
electricity from coal-fired power stations   14.1% ** Low decreasing 17.2% 15.8%
electricity from nuclear power stations   10.2% ** Low decreasing 12.3% 10.8%
electricity from hydroelectric power stations   30.5% *** Stable 30.0% 29.5%
electricity from other renewable resources   17.4% *** Increasing 11.0% 13.9%
district heating   10.3% *** Increasing 7.7% 9.7%
Share of renewable energy and district heating   49% *** Increasing 42% 45%
Total business travel EN30 658 m Pkm *** Stable 649 m Pkm 762 m Pkm
rail travel10   1.7% *** Stable 1.7% 1.5%
road travel10   1.1% ** Stable 1.1% 0.4%
air travel   97.2% *** Stable 97.2% 98.1%
Number of flights (segments)                      287,483 *** Low decreasing                    308,555                    337,573
Total paper consumption EN1 7,693 t *** Stable 8,083 t 8,093 t
post-consumer recycled EN2 18.7% *** Decreasing 21.1% 18.2%
new fibers FSC11   38.9% *** Increasing 34.7% 26.1%
new fibers ECF + TCF11   42.3% *** Stable 43.9% 55.6%
new fibers chlorine bleached   0.2% ** Low decreasing 0.2% 0.1%
Total waste EN23 13,551 t *** Decreasing 15,264 t 16,083 t
valuable materials separated and recycled   55.6% *** Stable 54.2% 54.2%
incinerated   19.9% *** Low increasing 18.5% 20.0%
landfilled   24.4% ** Low decreasing 27.3% 25.8%
Total water consumption12 EN8 1.77 m m3 ** Stable 1.95 m m3 2.00 m m3
Greenhouse Gas (GHG) Emissions in CO2e            
Direct GHG emissions (Scope 1)13 EN15 24,122 t *** Stable 21,838 t 25,232 t
Gross indirect GHG emissions (Gross Scope 2)13 EN16 195,066 t *** Low decreasing 207,630 t 227,978 t
Gross other indirect GHG emissions (Gross Scope 3)13 EN17 92,811 t *** Stable 94,044 t 110,010 t
Total Gross GHG Emissions   311,998 t *** Stable 323,513 t 363,220 t
GHG reductions from renewable energy14   -56,375 t *** Increasing -35,209 t -53,759 t
CO2e offsets (business air travel)15   -72,612 t *** Stable -73,024 t -88,867 t
Total Net GHG Emissions (GHG Footprint)16   183,011 t *** Decreasing 215,279 t 220,593 t
Legend: GWh = giga watt hour; Pkm = person kilometer; t = ton; m3 = cubic meter; m = million; CO2e = CO2 equivalents

1 All figures are based on the level of knowledge as of January 2014.
2 Reporting period: 2013 (1 July 2012 - 30 June 2013), 2012 (1 July 2011 - 30 June 2012), 2011 (1 July 2010 - 30 June 2011)
3 Global Reporting Initiative (see also www.globalreporting.org). EN stands for the Environmental Performance Indicators as defined in the GRI.
4 Non-significant discrepancies from 100% are possible due to roundings.
5 Specifies the estimated reliability of the aggregated data and corresponds approximately to the following uncertainty (confidence level 95%): up to 5% - ***, up to 15% - **, up to 30% - *. Uncertainty is the likely difference between a reported value and a real value.
6 Trend: at a *** /**/ * data quality, the respective trend is stable if the variance equals 5/10/15%, low decreasing/increasing if it equals 10 /20/30% and decreasing/increasing if the variance is bigger than 10/20/30%.
7 Refers to energy consumed within the operational boundaries of UBS.
8 Refers to primary energy purchased which is consumed within the operational boundaries of UBS (oil, gas, fuels).
9 Refers to energy purchased that is produced by converting primary energy and consumed within the operational boundaries of UBS (electricity and district heating).
10 Rail and road travel: Switzerland only.
11 Paper produced from new fibers. FSC stands for Forest Stewardship Council, ECF for Elementary Chlorine Free and TCF for Totally Chlorine Free.
12 Predominantly municipal water.
13 Refers to ISO 14064 and the "GHG (greenhouse gas) protocol initiative" ( www.ghgprotocol.org), the international standards for GHG reporting: scope 1 accounts for direct GHG emissions by UBS; gross scope 2 accounts for indirect GHG emissions associated with the generation of imported/purchased electricity (grid average emission factor), heat or steam; gross scope 3 accounts for other indirect GHG emissions associated with business travel, paper consumption and waste disposal.
14 GHG savings by consuming electricity from renewable sources.
15 Offsets from third-party GHG reduction projects measured in carbon equivalents (CO 2e). These offsets neutralize GHG emission from our business air travel.
16 GHG footprint equals gross GHG emissions minus GHG reductions from renewable energy and carbon equivalents offsets.

Environmental indicators1 per full-time employee
  Unit 2013 Trend 2012 2011
Direct and intermediate energy kWh / FTE 11,555 - 11,485 12,459
Business travel Pkm / FTE 10,318 -- 9,805 11,489
Paper consumption kg / FTE 121 = 122 122
Waste kg / FTE 213 = 230 242
Water consumption m3 / FTE 27.8 = 29.5 30.1
CO2 footprint t / FTE 2.87 = 3.25 3.32

Legend: FTE 2 = full-time employee; kWh = kilo watt hour; Pkm = person kilometer; kg = kilogram; m 3 = cubic meter; t = ton

1.Reporting period 2013 (1 July 2012 - 30 June 2013). 2.FTE are calculated on an average basis including contractors.

    For the year ended %change from
Full-time equivalent, except where indicated GRI 1 31.12.13 31.12.12 31.12.11 31.12.12
Personnel financial businesses  

60'205

62'628 64,820 (4)
Personnel in specialized enviromental units/functions  

34

31 31 11
Enviromental awareness raising  

 

     
Employees trained FS4

7,136

3,548 15,693 101
Specialized enviromental training  

 

     
Employees trained FS4

2,135

966 3,677 121
External enviromental audits2  

 

     
Employees audited FS9

58

63 182 (8)
Auditing time (days) FS9

11

11 22 5
Internal enviromental audits3  

 

     
Employees audited FS9

160

249 181 (36)
Auditing time (days) FS9

47

51 28 (8)

1 Global Reporting Initiative (see also www.globalreporting.org). FS stands for the Environmental Performance Indicators defined in the GRI Financial Services Sector Supplement.

2 Audits carried out by SGS Société Générale de Surveillance SA. Surveillance audits took place in 2012 and 2013. The more comprehensive Re-Certification Audit was done in 2011.

3 Audits / reviews carried out by specialized environmental units. The implementation of Environmental and Social Risk Policies is also audited by Group Internal Audit.

Environmental awards and recognition

Certificate Trust Standard

The Carbon Trust Standard was developed by the Carbon Trust in 2007/08 to encourage good practice in carbon footprint management and reduction by businesses and public sector organisationsorganizations.

It is designed to provide a robust, objective and consistent methodology for assessing corporate carbon performance. Assessment against the Standard is undertaken by independent third-parties. Following a submission of evidence and an external audit, we were able to demonstrate a consistent and ongoing reduction in carbon emissions during the previous three years. We have implemented policies and procedures as well as organizational groups that aim to continue this trend.

UBS first achieved certification to the Carbon Trust Standard across all UK operations in 2010, achieved recertification 2012, with accreditation to the end of 2013.

CDP

The CDP (formerly known as Carbon Disclosure Project) is an independent not-for-profit organization, which by its own account today represents a group of 722 institutional investors, representing a total investment volume of 87 trillion US dollars (as of January 2014). The audit firm PricewaterhouseCoopers annually evaluates the 500 largest listed companies for CDP. The evaluation criteria include greenhouse gas emissions, data quality and transparency. Awareness of the risks and opportunities of climate change for the company itself are also examined. We were among the top 20 financial institutions in the CDP Global 500 Climate Change Report 2013 and were included in the Climate Disclosure Leadership Index (CDLI) DACH. CDLI DACH 2013 includes the 10% highest Disclosure Scores of scored companies in the DACH region (Germany, Austria, Switzerland).

UBS is one of the top energy savers among Switzerland's 50 largest companies, according to the World Wide Fund for Nature (WWF).

The WWF has surveyed the largest Swiss companies (by turnover and number of employees) on their energy consumption, mix and efficiency. UBS is among the top eight firms in terms of energy efficiency.

The top eight energy savers:

Company

Industry

Coop

Retail

Die Schweizerische Post

Transport/logistics

Migros

Retail

SBB AG

Transport/logistics

Swisscom AG

Telecommunications

Swiss Re

Insurance

UBS

Banking

Zürcher Kantonalbank

Banking

Source: WWF study "Unter Strom - Der Beitrag der grössten Schweizer Unternehmen zu einer nachhaltigen Stromzukunft"  

This group has demonstrated a stable or decreasing use of energy and has set ambitious targets for reducing energy consumption. Furthermore, a higher than average part of the energy they consume is from renewable sources. UBS, together with the other firms in the group, is far ahead of the other firms surveyed, more than half of which either could or would not provide any information. The survey was conducted by oekom research, one of the world's leading sustainable-investment rating companies.

The results of the survey, which are summarized in the WWF energy study, acknowledge the intensive efforts UBS has made in the last few years on the environmental protection front. In 2012, UBS reached its goal of reducing its CO2 emissions by 40% from 2004 levels. At the same time, it has set further demanding global targets to be reached by 2016. UBS aims to reduce its energy consumption by 10%, its water consumption by 5%, and to increase the proportion of waste it recycles to 70%. Already today, 100% of the energy UBS uses in Switzerland is derived from renewable sources. This has been the case since 2007.

According to the WWF, transparency and ambitious energy-saving targets and other appropriate measures are required for the smooth implementation of the energy revolution. This is already happening in Switzerland and Germany due to their planned exit from nuclear energy, and is being discussed in other countries. How a company handles its energy consumption shows how forward-thinking it is. Companies that use energy efficiently do not only protect the environment, they also gain cost advantages and can maintain their independence in the face of rising energy prices.

UBS received a Platinum Award at the London Clean City Awards on 8 February 2013. The Clean City Awards scheme was launched in 1994 by the City of London Corporation. It is designed to foster partnerships between City businesses, both large and small, to achieve a clean environment through good waste management. The aim of the scheme is to encourage waste minimization, reuse and recycling, and an increased awareness of, and compliance with Duty of Care regulations.

This is a fantastic accomplishment as the City of London recognized UBS’s many initiatives, achievements and passion that it demonstrates with regard to dealing with its waste.

UBS Hong Kong received the Bronze Award in the Financial, Legal and Business Consulting Service Sector at the 2012 Hong Kong Awards for Environmental Excellence Ceremony.

After extensive assessments at various stages over eight months, UBS Hong Kong was one of the five finalists from a total of 21 participating companies including JP Morgan and Credit Suisse. This achievement demonstrates UBS's outstanding contribution towards environmental preservation whilst encouraging employee participation and raising employee awareness. 

Our clients

Environmental and social risk management

Environmental and social risk assessments
 

 

For the year ended  

% change from

 

GRI 1 31.12.13 31.12.12 31.12.11 31.12.12
Cases referred for assessment 2 FS2 1,716 1,039 416 65
by region          
Americas FS2 367 288 111 27
Asia Pacific FS2 296 222 136 33
Europe, Middle East and Africa FS2 373 225 119 66
Switzerland FS2 680 304 50 124
by business division          
Wealth Management FS2 298 157 59 90
Wealth Management Americas FS2 46 5 5 820
Retail & Corporate FS2 598 223 22 168
Global Asset Management FS2 14 12 n/a 17
Investment Bank 3 FS2 657 533 330 23
Corporate Center FS2 103 109 n/a (6)
by sector          
Metals and mining FS2 418 217 n/a 93
Oil and gas FS2 239 136 n/a 76
Agribusiness 4 FS2 155 45 n/a 244
Utilities FS2 95 38 n/a 150
Chemicals FS2 67 29 n/a 131
Infrastructure 5 FS2 51 15 n/a 240
Other FS2 691 559 n/a 24
by outcome          
approved 6 FS2 1,462 812 n/a 80
approved with qualifications 7 FS2/FS3 196 171 n/a 15
rejected or not further pursued 8 FS2 42 56 n/a (25)
pending 9 FS2 16 0 n/a n/a

1 Global Reporting Initiative (see also www.globalreporting.org). FS stands for the Performance Indicators defined in the GRI Financial Services Sector Supplement.
2 Transactions and onboarding requests referred to environmental and social risk (ESR) functions.
3 Relates to procurement / sourcing of products and services.
4 includes since 2013 e.g. forestry products, biofuels, food and beverage.
5 Include e.g. financial institutions, aerospace and defence, telecom, technology.
6 Client / transaction / supplier subject to an ESR assessment and considered in compliance with UBS's ESR framework.
7 Client / transaction / supplier subject to an ESR assessment and approved with qualifications. Qualifications may include ring-fencing of certain assets, conditions towards client / supplier or internal recommendations.
8 Client / transaction / supplier subject to an ESR assessment and rejected or not further pursued.
9 Decision pending.

Environmental & social risk escalation process

Environmental and social risk escalation process

Our offering

Socially responsible investments invested assets1
      For the year ended % change from
CHF billion, except where indicated GRI2 31.12.13 31.12.12 31.12.11 31.12.12
UBS total invested assets   2,390 2,230 2,167 7
UBS SRI products and mandates          
positive criteria FS11               2.18          1.60             1.84 37
positive criteria / RPI3 FS11             39.00        32.15          28.19 21
exclusion criteria4 FS11             56.09        35.68          27.46 57
policy based restrictions5 FS11  475.14      181.64        180.85 162
Third-party6 FS11               3.70          2.66             2.58 39
Total SRI invested assets FS11          576.12      253.73        240.92 127
Proportion of total invested assets (%)7   24.11% 11.38% 11.12%  
1 All figures are based on the level of knowledge as of January 2014. 2 FS stands for the Performance Indicators defined in the Global Reporting Initiative Financial Services Sector Supplement. 3 UBS Global Asset Management Responsible Property Investment strategy. 4 Includes customized screening services (single or multiple exclusion criteria). 5 Assets subject to restrictions under UBS policy on the prohibition of investments in companies related to anti-personnel mines and cluster munitions (includes all invested assets held in Global Asset Management actively managed discretionary segregated mandates and all actively managed funds (retail and institutional) held by Global Asset Management, Wealth Management and Retail & Corporate). In 2013, the scope of this policy became global. 6 SRI products from thirdparty providers apply either positive and exclusion criteria or a combination thereof. 7 Total SRI / UBS’s invested assets.

Socially Responsible Investments are products that consider environmental, social or ethical criteria alongside financial returns. SRI can take various forms, including positive screening, exclusion or engagement.

Positive criteria apply to the active selection of companies, focusing on how a company’s strategies, processes and products impact its financial success, the environment and society. This includes best-in-class or thematic investments.

Exclusion criteria whereby one or several sectors are excluded based on environmental, social or ethical criteria, for example, companies involved in weapons, tobacco, gambling, or companies with high negative environmental impacts. This also includes faith - based investing consistent with principles and values of a paricular religion.