Managing environmental and social risks is a key component of our corporate responsibility. At UBS, corporate responsibility means "doing the right thing" – both now and in the future. This covers our conduct as a firm and as individuals, as well as our responsibility towards the communities in which we work. It also encompasses the products and services we offer to support our clients in addressing the challenges of today.
We apply an environmental and social risk policy framework to all our activities.
This helps us identify and manage potential adverse impacts to the environment and to human rights, as well as the associated risks affecting our clients and us. We've also set standards in supply chain management decisions, and identified certain controversial activities we will not engage in, or will only engage in under stringent criteria.
As part of this process, we engage with our suppliers to better understand their processes and policies and to explore how any environmental and social risks may be mitigated. The foundation of UBS’s environmental and social risk policy framework is established in the Code of Conduct and Ethics of UBS and the UBS in Society constitutional document.
Living up to our societal responsibilities contributes to the wider goal of sustainable development. As a global firm we take responsibility to lead the debate on important societal topics, contribute to the setting of standards and collaborate in and beyond our industry. And we expect the same standards from our suppliers and their subcontractors.
As a truly global financial services firm, we want to contribute to the economic growth of all communities. We care about establishing relationships with businesses that are often underrepresented in supplying the needs of major corporations – including but not limited to those certified as:
- Disabled-owned; and
- Disadvantaged businesses
A diverse supplier base enables us to provide flexible and quality solutions at the best price for our businesses.
In our performance-driven culture, we recognize and greatly value the opportunity, innovation, and competitive advantages that diverse suppliers bring to our business.
We strongly encourage the consideration of qualified diverse suppliers with the right competencies and structures in our sourcing activities whenever possible. In addition, UBS is a proud member of the National Minority Supplier Development Council (NMSDC) and the National LGBT Chamber of Commerce (NGLCC).