UBS doesn’t care about the climate – the only thing it cares about is profit.
UBS doesn’t care about the climate – the only thing it cares about is profit.
Fact
An intact climate is in all of our interest. We care about the negative consequences of climate change, which is why we have a climate strategy that applies across the entire bank. We’re also convinced that responsibly managing environment-related topics is directly connected to economic growth and the growth of our bank.
UBS isn’t interested in climate change, and especially not where investments are concerned.
UBS isn’t interested in climate change, and especially not where investments are concerned.
Fact
Wrong. We sold climate-related, sustainable investments worth USD 108 billion to clients last year. We know that climate change harbors risks for our clients. We’re outlining these risks and helping our clients to handle them in a responsible way. A notable example is our Climate Aware Fund. The portfolio is oriented toward companies that are better prepared for a low-carbon future.
UBS isn’t interested in efforts to transition to a low-carbon world. It actually benefits from doing business with climate offenders.
UBS isn’t interested in efforts to transition to a low-carbon world. It actually benefits from doing business with climate offenders.
Fact
We have comprehensive standards for environmental and social risks that govern our relationships with our clients and suppliers, including clear criteria on what types of transactions we won’t finance. In 2018, we decided that we will no longer finance new coal-fired power plants, and we further tightened our fossil fuel standards in 2019. We’ve drastically scaled back financing companies that have a negative impact on the climate – down 41% in 2019. And we continue to shift toward sustainability in all of our decisions. Last year, we financed companies developing renewable energies with over USD 87 billion.
UBS doesn’t feel compelled to take a leading role in greater climate protection.
UBS doesn’t feel compelled to take a leading role in greater climate protection.
Fact
On the contrary. We’re well aware of our responsibilities and want to take a leading role in climate protection. We aim to be a leader in sustainable finance, expanding our range of products and raising awareness among clients and investors. And at our own doorstep, we’ve nearly halved the number of kilometers flown worldwide from one billion in 2007 to 459 million in 2019, for example, and offset 100% of flight emissions in the last 13 years. We’ve also committed to covering 100% of our energy needs from renewable sources by mid-2020.
UBS refuses to divest from climate-damaging companies.
UBS refuses to divest from climate-damaging companies.
Fact
We’ve learned that we often get much further when we work together with companies to engage in more sustainable strategies than just pulling out altogether. For instance, our Climate Aware fund reduces its exposure to rather than excludes companies with higher carbon risk. This allows us and our clients to have a dialogue with these companies in order to encourage their transition to a low-carbon economy. Asset Management has started an engagement program with 50 oil & gas and utilities companies underweighted in the fund.
